Newegg sells computer equipment and has about 36 million customers. She was one of the first to accept payments in cryptocurrency. And now it intends to make such payments available to its clients in Canada, said Danny Lee, the company's CEO.
Like most merchants, Newegg does not accept cryptocurrency directly. She uses the bitcoin payment processing company BitPay, which charges a small fee to convert the coins into fiat. BitPay will also begin offering services in Canada and will continue to process Newegg's Bitcoin payments.
For cryptocurrency advocates, this is great news, as rising transaction fees have forced some merchants to discontinue services accepting Bitcoin payments.
Stripe recently announced that it will discontinue its Bitcoin payment processing service, although it may bring back such service in the future for Stellar (for which it provided seed funding) or other types cryptocurrencies.
Last week, Reddit, which accepted bitcoin when it was worth less than $25, removed such an option. A Reddit spokesperson said this was due to maintenance on the Coinbase platform, but said the company had not decided whether it would support such payments once the platform was upgraded.
According to https://www.ccn.com
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