Newegg Expands Bitcoin Payments Program to Canadian Customers
Retail giant Newegg is now accepting bitcoin via its Canadian website and offering new deals to all bitcoin customers.
Update (27th August 5:20 BST): Newegg has launched an official page on its website dedicated to its new bitcoin program and its related promotions. The company now says the promotion will run until midnight on 1st September, "while funds and/or supplies last". The article below has been amended to include these conditions.
UPDATE (26th August 17:45 BST): Newegg's customer service team is now advising customers that Newegg's advertised discounts were limited promotions.
Online retail giant Newegg has announced that Canadian customers can now use bitcoin to complete purchases via Newegg.ca.
With the expansion, Newegg becomes the second major online retailer to extend bitcoin payments from the US to Canada. TigerDirect previously added bitcoin payments to its Canadian website in July.
Newegg chief marketing officer Soren Mills framed the announcement as one that underscores the company's commitment to bringing new and emerging payment tools to overseas customers, while illustrating the success the program has had in the US.
Mills told CoinDesk:
Newegg began accepting bitcoin payments on 1st July, when it announced a partnership with Georgia-based bitcoin merchant processor BitPay. As part of the program, Mills said BitPay will provide Newegg with Canadian dollars for purchases.
The Los Angeles-based online retailer earns more than $2.8bn in annual revenue, and was the second billion-dollar merchant to become a BitPay client following TigerDirect.
Special discounts launched
Newegg has also extended a new deal to Canada-based bitcoin shoppers. Running until 1st September, the promotion will find Newegg customers receiving discounts for reaching certain purchasing benchmarks.
Newegg customers who spend more than $300 will receive $75 off their purchase by buying in bitcoin, while buyers whose orders exceed $500 are eligible for a $150 discount. The company has since clarified that the maximum value of the promotion per customer is $150, and that its offer cannot be combined with any other promo codes.
The news follows reports that some bitcoin customers were unable to access discounts through the company's website or its customer service personnel.
Mills said that while the savings for consumers are significant, Newegg expects to gain in the long term by fostering support from Canada’s bitcoin consumers. He explained:
Newegg brings bitcoin abroad
In addition to its Canadian website, Newegg notable operates Newegg.cn and Newegg.com.tw, which serve the company's China and Taiwan-based customers.
Though bitcoin payments are not yet available through either, Soren noted that more announcements from Newegg could be forthcoming, adding:
Disclaimer: CoinDesk founder Shakil Khan is an investor in BitPay.
Image credit: Dan Breckwoldt / Shutterstock.com
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.