American online retailer Newegg begins accepting payments in BTC in 73 countries

American online retailer Newegg begins accepting payments in BTC in 73 countries25.07.2019


American online retailer Newegg begins accepting payments in BTC in 73 countries

Newegg, a large network of computers and consumer electronics, will accept Bitcoin for payment in 73 countries. Newegg Inc. is an online retailer of items including computer hardware and consumer electronics. It is based in City of Industry, California, in the United States. In 2016, Liaison Interactive, a Chinese tech company, acquired majority stake in Newegg in an investment deal.

In early 2018, customers in the state of Connecticut were notified that Newegg had not collected state sales tax due on out of state purchases in the past three years. Newegg was given a choice of collecting such tax in the future or turning over customer information to the state's Department of Revenue Services, which would require customers to file a sales tax form for the past three years of purchases. Newegg chose to furnish the customer information, as Newegg did not have a physical presence in Connecticut, Newegg believed it did not need to collect state sales tax from the ruling in Quill Corp. v. North Dakota. Connecticut's Department of Revenue Services later issued tax bills to these customers.

In a statement, Anthony Chow, president of Newegg’s international marketing business, said the move was in line with his goal of fostering e-commerce innovation.

“Enhancing Bitcoin payment options for most of our global networks underscores our commitment to innovate online shopping and meets the growing interest of customers with this payment option,” Chow said.

Now the American retailer, which accepts payments in BTC from buyers in the US and Canada since 2014, provides the option of paying with cryptocurrency in the vast majority of countries it serves. According to the announcement, the cryptocurrency payment operator BitPay will carry out all transactions in Bitcoins on the Newegg platform.

More and more companies are starting to accept payments in cryptocurrencies. This month, IGA, a large Australian supermarket chain, began accepting payments in BTC, ETH, LTC and BNB. In addition, Singapore's leading restaurant chain has also begun accepting BTC, ETH and CMB. And in June, the American telecommunications giant AT&T announced that it would accept cryptocurrencies to pay for telephone bills over the Internet using the BitPay cryptocurrency operator.

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