Retailers are accepting Bitcoin as payment despite fall in price
Retailers across USA and Canada are accepting Bitcoin as a mode of payment in exchange for goods and services. Earlier this week, Newegg, leading retailer in the US for electronics, expanded their Bitcoin integration payment platform to Canada as well.
The CEO of Newegg, Danny Lee, says that the company has included Bitcoin as a mode of payment as customers holding them have a lot of buying power. He said,
“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 them have considerably more purchasing power. We believe the time is right to broaden our acceptance of Bitcoin to our customers in Canada.”
Stephen Pair, the CEO at BitPay, a cryptocurrency payment processor that handles Bitcoin payments made to Newegg, stated that the demand for cryptocurrencies from users in Canada has increased over the past few years. Now that Newegg has expanded its Bitcoin integration to Canada as well, the adoption rate of Bitcoin by other retailers would also increase in the near future. He said,
“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.”
The popular coffeehouse, Starbucks, has also expressed its views about introducing crypto as a means of payment. Howard Schultz, the chairman of Starbucks, said,
“The organization is willing to integrate a cryptocurrency in the future if it is retailer friendly and it is able to handle a certain capacity of transactions that is sufficient for large-scale conglomerates.”
Despite the Bitcoin losing its value with every passing day, the craze that it has created for itself hasn’t reduced at all. Crypto enthusiasts still believe in its ability to bounce back from its current low, and so do several retailers across the world.
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