|Bitcoin Accepted Here|
gigaom.com / Biz Carson / September 1, 2014 - Bitcoin has attracted the attention of a lot of large businesses from Expedia to Dell to Overstock. However when all of those companies started accepting bitcoin, it was only in the U.S. But the tide is starting to change as more businesses expand their bitcoin acceptance overseas.
Overstock is set to become the largest later on Monday when it turns on international bitcoin payments for O.co this evening. Other retailers, like Newegg and TigerDirect, have already moved north of the border and started accepting payments from Canadian customers.
Part of the draw of opening up bitcoin payments internationally is the cost savings. Instead of dealing with the hassle of foreign currencies and high processing fees, bitcoin coming from Albania costs the same to process as a bitcoin from Alabama. It also helps minimize cases of fraud, which can be higher among international customers, thanks to the technology behind blockchain confirmations.