Most people in the US are aware that Newegg began accepting Bitcoin payments some time ago. Although this venture carried certain risks, the company has stuck with Bitcoin for several years now. It seems now is a good time to bring this payment option to customers in Canada as well.
NewEgg Canada and Bitcoin Payments
It is evident Newegg is still one of the major e-commerce players when it comes to North America. The company’s vast selection of computer hardware, software, and peripherals has received a lot of positive attention throughout the years. When the company initially began accepting Bitcoin as a payment option, a lot of people were genuinely excited about this concept.
Newegg was one of the very first retailers to accept Bitcoin payments when it started doing so in 2014. It was a positive development overall, although it remains unclear how successful this decision has been so far. It is evident the Bitcoin industry has grown tremendously since 2014, which means more people own BTC and are willing to spend it.
As such, the decision by Newegg to support Bitcoin payments in Canada simply makes sense. Canada has shown a great interest in Bitcoin and other cryptocurrencies over the years. Additionally, several Bitcoin mining operations are setting up shop in the country, indicating the Canadian government is still open-minded when it comes to this new form of money. After all, this industry also creates a lot of jobs, which should never be overlooked.
The Bitcoin payment option will be available for Newegg’s entire catalog of products. With the majority of the company’s users residing in North America, it is evident this part of the world is of keen interest to Newegg as of right now. Leveling the playing field in terms of accepted payment options appears to be a very smart decision. Bitcoin payments will be processed through BitPay, just like they are handled by the company for its US website.
BitPay CEO and co-founder Stephen Pair commented:
Newegg was an early e-commerce adopter of bitcoin, and that leap of faith the company took in 2014 put Newegg on the map as a bitcoin-friendly place for tech enthusiasts to shop. We’re seeing a lot of traction in Canada, and we’re happy to see Newegg extend its bitcoin payment option north of the border.
Whether or not this decision will work out well for Newegg remains to be seen. It is good to see such a longstanding supporter of Bitcoin expand this payment functionality rather than drop it altogether like some other companies have done in the past. For Newegg, there seems to be no reason to shut down its Bitcoin services, although the company did not comment on specific sales figures involving Bitcoin.