In the company’s press release, the retailer states that it “…is opening its store to customers around the world” by accepting bitcoin (BTC), bitcoin cash (BTC), bitcoin diamond (BCD), bitcoin gold (BTG), dash (DASH), ethereum (ETH), litecoin (LTC), and Zcoin (XZC).
“NewParts is committed to making our massive inventory of auto parts as accessible as possible to our customers…That’s why we decided to allow our customers to pay with cryptocurrency — it opens up our business to international markets and enables us to accept and process transactions more quickly and affordably.” said NewParts CEO Dano Ramovich.
NewParts is an online automotive parts supplier possessing a catalog of over one million parts. Already an international company, this move will only further their reach as cryptocurrencies are both borderless and bankless; making it ideal for a global economy.
“By paying with cryptocurrency, customers around the world now have unprecedented access to NewParts’ wide array of auto parts with lightning-fast transactions that take just minutes to process. Furthermore, thanks to drastically reduced transaction fees (less than a penny), eliminated currency conversion fees and freedom from chargebacks, NewParts is able to pass on even more savings to customers.”
With so many hopefully to one day buy a ‘lambo’ with their cryptos, it’s good to know an automotive supplier capable of providing valuable needed parts for digital currencies exists. With some time, adoption of the blockchain for their supply chain could be their next step as it would offer customers never-before-possible verification of a parts authenticity.