The world’s largest online marketplace for designer engagement rings — run by 104-year-old company H.L. Gross and & Bro. Jewelers — has announced today the immediate acceptance of bitcoin for products sold at Since1910.com.
The digital currency is now one of several payment options accepted at the online store, which also includes GE financing, layaway, wire transfers, PayPal, and of course, major credit cards.
The reason for adopting bitcoin? Customer demand!
“Our customers have asked for this and we listened,” said Brad Gross, a fifth-generation jeweler and co-founder of Since1910.com. “Our goal is to be constantly listening to our customers to provide the best possible user experience. We want our customers to feel like part of the team and to help shape the way Since1910.com does business.”
The Brooklyn, New York-based retailer has partnered up with Coinbase over on the West Coast of the United States to facilitate the transactions. Using Coinbase’s merchant services, they will be able to instantly convert bitcoin revenues into U.S. dollars.
Since1910.com’s announcement comes just over a week from a similar announcement made by REEDS Jewelers based out of the Wilmington, North Carolina area. The company announced they would be accepting bitcoin payments both for online sales and in-store.
An increasing amount of small to large businesses are looking into bitcoin as a viable payment solution. Features include almost instant settlements, no risk of chargebacks, and minimal fees for merchants (especially with large transactions, since the card companies will easily take 2 to 3 percent).