Newegg, a California-based online retail store expands its Bitcoin (BTC) payment options to serve customers hailing from 73 more countries.
According to a press release on July 24, Newegg customers can now purchase products through Bitcoin (BTC) over 80 countries worldwide. While Newegg remains unavailable for customers residing in six countries: Algeria, Ecuador, Egypt, Indonesia, Morocco and Vietnam, the company noted on its website.
Backed by Chinese company Liaison Interactive, Newegg collaborates with Bitcoin payment processor BitPay back in 2014, becoming one of the first major online shopping stores to accept Bitcoin. Newegg initially rolled out BTC payment options for residents in the United States, later adding the feature for Canadian citizens.
After Newegg’s Canadian arm dropped Bitcoin payments in 2017 when BitPay halted settlements in Canadian dollars. BitPay reportedly provided low-cost and transparent transactions and enabled Newegg to increase its margin on each Bitcoin transaction via avoiding credit card fees typically assessed on credit card purchases.
Newegg was founded in 2001 and currently serves more than 80 countries in Europe, Asia Pacific, Latin America, and the Middle East, with over 38 million registered customers.
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