Of recent, we received some good news for cryptocurrency users. It so happened that the Online Retailer Newegg informed the general public that they have expanded their Bitcoin acceptance to 73 countries, including South Africa, Kenya, Nigeria, Uganda, and Tanzania.
Success in the Newegg and BitPay Partnership leads to an extension of the Bitcoin Payment option to 73 new countries
Since 2014, BitPay has been collaborating with Newegg to facilitate Bitcoin transactions in the United States of America and Canada. Not even a single chargeback has been required from any Bitcoin transaction on Newegg since this initial implementation was made. It is on this successful collaboration over the past years that both companies have decided to extend the Bitcoin Payment Option to 73 new countries.
BitPay has been around for a good number of years. It processes Bitcoin transactions worth more than $1 Billion on a yearly basis for its e-commerce partners. It also happens to be one of the top Bitcoin payments company that makes use of the innovative blockchain technology to eliminate chargebacks and offer transparent financial transactions to all its users. Thanks to BitPay, Newegg is able to increase its margin on each Bitcoin transaction by avoiding credit card fees that are typically assessed on credit card purchases.
Anthony Chow, Newegg’s President global sales, said: “Five years ago, we were one of the first major online shopping destinations to accept Bitcoin, and our early-adopter customers were quick to embrace this new payment option. Broadening the ability to pay with bitcoin to the majority of our global network underscores our commitment to bring innovation to the online shopping experience, and answers customers’ growing preference for our bitcoin payment option.” Newegg sells products such as gaming equipment, electronics, and smart home appliances to its over 38 million registered users in Latin America, North America, Europe, Middle East, and the Asia Pacific.
Buying products with Bitcoin made a reality by Newegg
The process of purchasing products on Newegg with Bitcoin is pretty simple. Just as it is the case with other online shopping processes, you add all your desired items to a cart and select the shipping address of your choice for delivery. This is how it works. After selecting all your items into a cart and precising the shipping address, you’ll have to review your order and then choose Bitcoin as payment option. Newegg makes it easy to execute payment using a computer-based, smartphone-based, or web-based digital wallet.
The South African payments service PayFast, recently dropped Bitcoin from its payment options. This made life difficult for many South Africans who were verse with Bitcoin online purchases. Luckily enough, Newegg has stepped in to fill this hole not just in South Africa but in Kenya, Nigeria, Tanzania and Uganda.