Dell has become the latest of large U.S. retailers to announce their introduction of Bitcoin as accepted currency for online payments. With 2013 revenue of $57B, Dell is the largest company to begin accepting Bitcoin. The benefits of using the controversial currency, as listed on Dell’s company website includes,
Bitcoin payments can be made easily from anywhere in the world, and offer reduced payment processing costs…You have complete control over your Bitcoin, so your Bitcoin account isn’t tied to any financial institutions, can’t be frozen and carries lower transaction fees than most major credit cards.”
Like other recent acceptors of Bitcoin Dell will use Coinbase, one of the major Bitcoin payment processors, to conduct these transactions. According to David Frink, Senior Vice President and Chief Financial Officer of Dell, the goal behind this movement is to further reach consumers but the company understands that Bitcoin is in early stages.
Despite being considered a pilot project of Dell’s, the acceptance of Bitcoin by Dell is a major step for the currency. Following the currency’s acceptance by other major online retailers (Overstock.com, Dish Network, Expedia) as well as recent steps towards regulations in New York last week, it seems Bitcoin is making strides.
Read more here- “Dell Beings Accepting Bitcoin on its Website,” (Paul Vigna, WSJ Blogs)
Olivia is a graduate of Villanova University where she studied Economics and History, minoring in Gender and Women's Studies. She also has experience working with federal legislatures on health care policy, women's issues, and Internet safety.