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Newegg to Become First Major E-Retailer to Accept Litecoin on BitPay

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LOS ANGELES, July 29, 2021--(BUSINESS WIRE)--Newegg Commerce, Inc. (NASDAQ: NEGG) ("Newegg" or "Company"), a leading tech-focused e-retailer in North America with a global customer base, announces that it is expected to become the first merchant to accept Litecoin (LTC) cryptocurrency as a payment method on the BitPay platform starting this week. Customers shopping on Newegg.com will have the option of paying with Litecoin using the BitPay Wallet app.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210729005959/en/

Customers shopping on Newegg.com will have the option of paying with Litecoin using the BitPay Wallet app (Graphic: Business Wire)

"Newegg has always been able to quickly implement new technologies to offer its customers innovative new ways to pay for products and services purchased through its platform. We are pleased to be the Company’s chosen partner in integrating the Litecoin payment option into its platform," said Stephen Pair, CEO at BitPay. "As the enthusiasm and excitement around the use of cryptocurrency continue to grow, Newegg demonstrates once again that it’s committed to making it easy for customers to shop their way with a growing array of payment options that also cater to crypto fans."

Litecoin was launched in 2011 by Charlie Lee, a former Google engineer who created the cryptocurrency as a "lite" version of Bitcoin. While similar in technical nature to Bitcoin, Litecoin offers faster transaction confirmation times – 2.5 minutes on average compared to Bitcoin’s 10 minutes.

Newegg’s longstanding partnership with BitPay dates back to 2014 when both organizations collaborated to enable Bitcoin transactions on Newegg.com – an industry-first at the time that pre-dated Bitcoin’s rise to mainstream prominence in 2017. Subsequently, Newegg was among the first to accept Dogecoin in early-2021, cementing the company’s place as a preferred destination for customers willing to pay with cryptocurrency. Today, Newegg builds on its reputation as an e-commerce innovator as it becomes the first major online retailer to accept Litecoin through BitPay.

"Delivering a better online shopping experience isn’t only about price and selection – it’s also important to let people shop however they want, and that extends to offering flexible payment options," said Andrew Choi, Sr. Brand Manager of Newegg. "We're thrilled to accept Litecoin, as we believe that convenient payment options improve the overall shopping experience for all our customers."

When completing an order on Newegg.com, customers who want to pay with Litecoin simply click "Edit" in the payment section on the checkout page, then select BitPay. Customers can then complete their transactions using Litecoin held in their digital wallet. Click here for full details about paying with Litecoin using the BitPay platform on Newegg.com.

For more information and to shop Newegg, visit https://newegg.com/. Like Newegg on Facebook, subscribe to Newegg on YouTube and follow Newegg on Twitter to stay up to date on the company’s latest news.

About Newegg Commerce, Inc.

Newegg Commerce, Inc. (NASDAQ: NEGG), headquartered in the City of Industry, California, is a leading tech-focused e-retailer in North America and serves a global customer base throughout Europe, Asia Pacific, Latin America and the Middle East. Founded in 2001, the company offers direct sales and an online marketplace platform for PC and IT hardware, consumer electronics, automotive, gaming products and finished goods. Newegg also offers an extensive portfolio of technology, marketing, logistics and other partner services to help companies grow their business. For more information, please visit https://www.newegg.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210729005959/en/

Contacts

FOR MORE INFORMATION, CONTACT:
John Snedigar
Faultline Communications
john@faultlinecomms.com
408-705-7518

Investor Relations:
Lena Cati
The Equity Group Inc.
212 836-9611
lcati@equityny.com