Newegg is jumping on the Dogecoin hype train.
As cryptocurrency fans celebrate “DogeDay” today (yep, it's a thing), an unofficial holiday for the virtual coin, the electronics retailer announced it's adding Dogecoin as a payment option. “The recent surge in Dogecoin value underscores the need to make it easier for customers to make purchases with this popular cryptocurrency,” says Newegg Senior Brand Manager Andrew Choi.
The company is also probably betting Dogecoin will continue its upward rise in value. Since the start of the year, the price of a single Dogecoin has soared from less than a penny to over $0.40, for a 700% increase. (Ironically, the cryptocurrency started in 2013 as a joke.)
Newegg is processing Dogecoin payments through Bitpay, which lets you manage your cryptocurrency holdings through a mobile app. “When completing an order on Newegg.com, customers who want to pay with Dogecoin simply click ‘Edit’ in the payment section on the checkout page, then select BitPay,” the retailer explains. “Customers can then complete their transactions using Dogecoin held in their digital wallet.”
However, there are some restrictions on using Dogecoin. If you decide to later return your Newegg-bought product, the retailer won’t refund you in Dogecoin. Instead, you’ll receive the refund in Newegg gift cards.
The company also isn’t accepting Dogecoin for pre-order items, products offered by third-party sellers, or on subscription-based orders. You also can't use cryptocurrency to buy gift cards from the retailer.
Newegg also accepts payments with Bitcoin, which it began supporting in 2014.