Tiger Direct now accepting Bitcoin payments

By on January 23, 2014, 2:15 PM
amd, bitcoin, graphics cards, virtual currency, cryptocurrency, digital currency, overstock, tiger direct

Not to be outdone by Overstock.com’s announcement earlier this month, Tiger Direct on Thursday revealed they are now accepting Bitcoin as a payment method for more than 200,000 products. The company claims they are now the first major US electronics retailer and the largest company in the world to start accepting the virtual currency as a method of payment for goods.

In a statement on the matter, Tiger Direct director of corporate marketing Steven Leeds said the company has always been on the forefront of alternative online payment methods and with individuals building their own high-powered PCs to mine Bitcoins, it’s a logical fit.

The electronics retailer is using BitPay as their payment processor, a popular choice among those looking to accept the cryptocurrency. And Tiger Direct is taking it one step further by partnering with AMD create what they claim is the largest assortment of graphics cards in the industry for mining purposes.

Of course, you wouldn’t want to use desktop graphics cards for Bitcoin mining as it’s no longer an efficient method but for Litecoins and other alternative coins, it’s still the route to go for now. It's worth pointing out that Tiger Direct lists Butterfly Labs hardware - still fit for Bitcoin mining - as "coming soon."

To get started shopping with Tiger Direct, you’ll first need a Bitcoin wallet (preferably loaded with some funds). From there, simply shop at the site as you would any other and when it comes time to check out, select Bitcoin as your payment method. There’s a full help page for those that need additional guidance with the process.

User Comments: 6

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1 person liked this | GhostRyder GhostRyder said:

This is cool as I like the idea that more retailers are starting to accept the online currency giving it more widespread adoption, however I still don't see this as being something that will work well in the short or long run (At least at the moment). I mean the reason for that is the value of a Bitcoin changes so rapidly up and down at a pin drop that I cannot really see this as being an easy investment for companies allowing people to pay with something that could lose half its value in a day.

I understand that values of anything change, but not as significantly as Bitcoin seems to fluctuate. If we get some stability in the value which will probably happen at some point then we could see this become alot cooler in my book for use. Just my Opinion...

1 person liked this | davislane1 davislane1 said:

Volatility can be dealt with if you've got the right risk management strategies. In all likelihood, they will be converting Bitcoin payments to cash immediately after transactions. They will lose a little off the top here and there, but the majority of the risk is still held by the person holding the coins.

2 people like this | cliffordcooley cliffordcooley, TechSpot Paladin, said:

I want TigerDirect to accept my in-game currencies. :/ lol

2 people like this | Skidmarksdeluxe Skidmarksdeluxe said:

I want TigerDirect to accept my in-game currencies. :/ lol

I'd like anybody to accept my in-game currency as real payment. Ah yes we can all dream.

treetops treetops said:

You can trade your in game currency for bitcoins... if you know the right sites, I don't.

captaincranky captaincranky, TechSpot Addict, said:

It seems to me that NO currency has any value, which isn't accepted universally. For all the world, the only thing I see happening, is the human race's mentality imploding into cyberspace, without any rhyme or reason..

This seems to be a marketing decision borne out of desperation, caused by, (what I believe to be), losing the ingoing computer parts e-tail war, to Newegg.\

I'm pretty sure the territorial currency laws haven't caught up with the "reality" of Bitcoin yet. But when you come right down to it, somebody hiding "currency" on computers throughout, could randomly be described as either, the distribution of malware, of counterfeiting.

But here again, I'm and old man, and don't believe that "cyberspace", is a real place, at all.

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