Newegg business goes online with bitcoin, shares up 5 percent
NEWELL, N.J. — Newegg, the online retailer of home and electronics products, announced on Tuesday it is now accepting bitcoin.
The company said the move will make it easier for consumers to shop for electronics and consumer electronics, which have seen a steep rise in popularity in the past few years.
The company will launch its bitcoin wallet, which allows customers to pay with bitcoin on Jan. 7, the company said.
The app will allow users to store bitcoin in a user’s account and track transactions.
Newegg also plans to allow merchants to accept bitcoin and offer a bitcoin-accepting payment option to consumers.
Newell said it is also expanding its bitcoin payment service to include credit card payments and will start accepting bitcoin on its website soon.
Newegg also launched a bitcoin wallet on Tuesday.
The wallet will allow customers to store Bitcoin in a User’s Account and track bitcoin transactions.
It will also provide users with access to the company’s Bitcoin Exchange, which enables users to buy and sell bitcoins with fiat currencies such as the U.S. dollar and euro.
Newell said in a statement that bitcoin and other digital currencies offer consumers a number of advantages over traditional currency systems, including a quicker, more secure payment process and faster transaction times.