Newegg has announced that it will be begin accepting Bitcoin payments from its Canadian customers, effective immediately.
This comes nearly two months after Newegg began accepting Bitcoin in the US- on July 1, Canada’s birthday. Indeed, the company will be running promotions in both countries over the coming days. Those spending over $300 with Bitcoin will get $75 (25%) off, with $150 (30%) off on purchases over $500. These are the new discounts previously alluded to during the previous promo, which offered 10% off.
It is unlikely though that Newegg saves anywhere near such proportions by accepting Bitcoin. One would therefore expect future Bitcoin discounts of lower magnitude, while the current promos help get customers in the door.
Stocks to Watch This Week – Expedia Group, IncGo to article >>
Newegg is following the lead of Overstock, which also recently announced its expansion of Bitcoin acceptance beyond the US, effective 5 days from now.
Soren Mills, Newegg’s marketing head for Newegg’s North American operations, explained:
“Newegg is deeply committed to growing its business internationally – serving customers overseas, introducing new products from key Asian markets and evolving the way we transact with our global customer base. Extending bitcoin acceptance to our Canadian customers is yet another important milestone as we build the company’s international presence.”
In partnering BitPay, which has more of an international presence than Coinbase and doesn’t require a US bank account, a Canadian expansion was more feasible.