Computer hardware retailer Newegg has begun accepting Bitcoin payments in Canada. Newegg — which has approximately 36 million customers and was one of the first well-known companies to accept cryptocurrency payments — made the announcement on Tuesday, explaining that Bitcoin payments have represented a “small but growing stream of purchase transactions” in the US and that the retailer wanted to make the feature available to Canadian customers as well.
Like most merchants, Newegg does not accept the cryptocurrency directly. Rather, it uses BitPay, a third-party payment processor, who, for a small fee, converts the coins into fiat currency at the point of sale. BitPay will continue to serve as Newegg’s Bitcoin payment processor as it expands this feature into Canada.