It’s great news when big merchants accept bitcoin, I’m sure we’d all agree, but isn’t it just a little sweeter when they take the time to take it one step further?
Online electronics retailer Newegg recently announced they would be accepting bitcoin, and they’re now encouraging the use of this emerging digital currency by offering customers 10 percent off their purchase when they pay with bitcoin.
It’s an excellent offering, but there’s drawbacks. The first is that the promotion doesn’t last forever (though we’re sure there’s plenty of you hoping Newegg will change their mind about this). According to the fine print, the offer expires on the 22nd of July at 11:79 pm Pacific time. Still, one week is better than nothing.
The second drawback is that this promotion is limited to $100. Meaning if you purchase $2,000 worth of items, the maximum you’ll get discounted is $100. Again, better than nothing, but something you should be aware of.
Taking advantage of the offering seems straightforward enough: simply use “BITCOIN” when checking out as the promotional code.
The idea behind bitcoin discounts
Discounts happen all the time in the world of commerce. Why are they important in the bitcoin world?
Simple. Merchants who offer discounts are encouraging the use of bitcoin, which could mean good things for the bitcoin economy. By accepting bitcoin, the merchants don’t have to pay a credit card company obscene fees, which means they can provide the product at a discount and still make out well.
Do you think Newegg’s competitors will catch on?