Bitcoin is slowly gaining more support from mainstream businesses, but it is still largely relegated to transactions involving virtual goods, gambling or some even shadier activities. Bitcoin Store hopes to change all that.
The outfit focuses on consumer electronics and gadgets and according to The Verge, it has a pretty good variety of products to offer. Since it’s not the first Bitcoin retailer out there, the company hopes to make a name for itself by undercutting the competition, including the likes of Amazon and NewEgg.
Bitcoin Store head of marketing Jon Holmquist said the whole point of the site is to demonstrate that both consumers and businesses can save a bit of cash simply by using Bitcoin. He said that Ingram Micro is the site’s supplier and that all large electronics sites use the same supplier.
However, the Bitcoin Store somehow managed to get into the highest pricing tier for Ingram Micro, which means it is the first time that a Bitcoin company is getting products at the same price as conventional retailers.
“It really showcases how much cheaper it is to pay with Bitcoin,” he said. Holmquist went on to point out that pricing on the site changes automatically as Bitcoin exchange rates fluctuate.
He also pointed out that the site’s owner, Bitcoin guru Roger Ver, decided to keep all Bitcoins amassed from sales, as he believes Bitcoin will continue to rise in value.