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Newegg now accepts bitcoin

Newegg now accepts bitcoin


Electronics retailer joins Expedia and Overstock in adopting the virtual currency

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Newegg, the online electronics retailer beloved by geeks, on Tuesday announced it would begin accepting purchases made with bitcoin. Newegg is turning to the bitcoin-payment processor Bitpay to handle orders paid with the virtual currency. Claiming that Newegg's customers were among some of the first bitcoin miners, the company's chief marketing officer Soren Mills said in a statement that "adopting bitcoin as a payment method is another way we’re responding to our customers’ diverse needs."

The move follows on the heels of several other large businesses moving to accept bitcoin payments: Overstock, Dish and Expedia have all come aboard in recent months, expanding the options for where bitcoin users can spend their money, and further legitimizing the currency. Overstock reported that its users spent nearly a million dollars worth of bitcoin in the first month after it introduced bitcoin payments (bitcoin was trading over $1,000 around that time). Whether Newegg sees similar success remains to be seen. But it's clear that in spite of the collapse of Mt. Gox earlier this year, bitcoin remains a growing alternative to established currencies online.