Bitcoin, Crypto currency, Blockchain

Bitcoin spread and use increases in spite of the low price

Bitcoin had a good Start into the new year. In fact, the price of Bitcoin since the beginning of the year to more than $ 10,000, or about 50% of its all-time high of 19,800 dollars has fallen. The decline in Bitcoin value seemed to be, however, the acceptance and use by governments and various large global companies to hinder it.

Source: CoinMarketCap

Retailers play a huge role in the increasing use of

NewEgg, one of the largest electronics companies in America, announced this week that it will offer the Integration of Bitcoin on their platform for Canada. In the future, customers will be able, therefore, to be able to Laptops and other electronic devices with crypto-currencies to buy.

The CEO of NewEgg, Danny Lee, said that the Bitcoin owner currencies, in spite of the volatile price environment of Crypto still have strong purchasing power. The company has integrated Bitcoin into its platform in 2014.

“In the year of 2014, Newegg was allowed to be one of the first large-scale company which payment via Bitcoin. Since then, it has increased the value of the Bitcoin massively, and owners have power, therefore, is now much higher purchase. We therefore believe that now is the right time to offer this payment option in Canada,“ explained Lee.

A physical representation of a B2C (business-to-customer) transaction

The rise of companies such as Bitpay, a Cryptocurrency payment processor that facilitates the transaction of Bitcoin between customers and retailers, also helps currencies with the introduction and proliferation of Crypto. The CEO of Bitpay, Stephen Pair, announced his optimism about Neweggs new payment option in an official Statement:

“We see in Canada a lot of Momentum and we are pleased that Newegg is expanding its Bitcoin payment option North of the border.”

Apart from NewEgg the following companies to offer Bitcoin as a payment option:

At the beginning of this year, Starbucks CEO Howard Schultz announced that Starbucks will be introducing in the near future, a payment via crypto-currency, assuming that it is “dealer friendly” and “a specific capacity transactions can handle, which is sufficient for large enterprises”.

As large financial institutions like Goldman Sachs continue to Bitcoin in their banking system, this can only mean good news for cryptocurrencies as a Whole. According to Jon Matonis, Executive Vice President of the Bitcoin Foundation and founder of the Bitcoin Foundation, this will increase the legitimacy of Bitcoin on a global level.

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