In a release from earlier today, rumors surrounding a new BitPay partner have now been confirmed. Newegg is now accepting Bitcoin. Like competitor TigerDirect, Newegg uses American Bitcoin payment processor BitPay to immediately settle Bitcoin payments into fiat, much in the same way that they accept other digital currencies of the more centralized flavor, such as PayPal and VISA. At press time, Newegg has not yet revealed if they are converting 100% of the Bitcoin received into USD, or whether or not they are keeping a percentage in Bitcoin, like Overstock.com does. Unfortunately for Canadians, this Bitcoin functionality is currently only available on Newegg.com. Visit the website and you will find a special banner to celebrate the promotion. Newegg, much to the Bitcoin community's approval, is entering the Bitcoin scene fashionably late with a direct statement that will be seen by all customers:
Pay with Bitcoin
Shopping here just got faster
Supporters of Newegg's move are invited to tweet their newfound happiness to #neweggbitcoin. Newegg's Bitcoin Accepted announcement includes a link to the classic weusecoins 'What is Bitcoin?' video with its emphasis on Bitcoin mining: Good for sales. Newegg also includes 5 step instructions to make sure new users trying out Bitcoin to save a few percent on their sale do not end up confused by BitPay's system. The reports of customer service bouts from initial Bitcoin acceptance launches have been getting better over time.
Finally Following In TigerDirect's Footsteps
Just from last year, I can remember several distinct conversations where Bitcoin skeptics have admitted that if TigerDirect or Newegg accepted Bitcoin, then they'd be impressed. Of course, such conversations also tend to include the A-word company when it comes to Bitcoin, a company that is still seemingly on the other side of this strait... Obviously, I'm talking about Amazon. In the first month of 2014, TigerDirect followed fellow e-tailer Overstock.com in announcing their acceptance of Bitcoin. The two companies both made headlines when they crossed the $1 million USD mark of merchandise sold for Bitcoin. Prior to accepting Bitcoin, Newegg and TigerDirect had both been selling "Bitcoin mining" GPU, Motherboard, and CPU sets. These sets were notorious for containing the worst brands of graphics cards and having completely blind marketing tactics. Simply put, GPUs have not been used for "Bitcoin mining" for years now. The fact that TigerDirect still proudly stocks Butterfly Labs "equipment" is also a point of contention with the Bitcoin community.
More recently, TigerDirect.ca has also started letting Canadians pay with the money of the internet. TigerDirect's team revealed that the integration was particularly smooth because many TigerDirect employees were already digital currency enthusiasts. At the heart of every company is a group of people that, when shown the benefits of Bitcoin, can be swayed. In fact, every company that accepts Bitcoin is another notch in the community's belt. The fact of the matter is, companies such as Newegg were sure to acquiesce to the demands of the vocal minority of their customers eventually. Accepting Bitcoin is a no-brainer for any business.
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