Online retailer Newegg has announced that its Canadian customers will soon have the option to use Bitcoin for merchandise payments. The California-based company has been offering that payment option to its customers in the United States since 2014. In a press release, Newegg CEO Danny Lee cited several reasons for the company’s decision:
"In 2014 Newegg was among the first major companies to offer customers a bitcoin payment option. Since that time the value of bitcoin has skyrocketed and customers holding bitcoin have considerably more purchasing power. We believe the time is right to broaden our acceptance of bitcoin to our customers in Canada."
Newegg is an e-retailer that reportedly enjoyed $2.65 billion in revenue in 2016. The company serves some 36 million customers and is one of the largest online electronics merchants in North America.
The company will continue to rely on payment service provider BitPay to handle online Bitcoin payments. BitPay CEO Stephen Pair praised Newegg’s welcoming approach to digital currency payments:
“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.”