Business 10 October 2018

Dennis Wafula

Use Bitcoin BCH to buy automotive parts at Newparts

Newparts, an online automotive parts store, has extended its payment platform to accept cryptocurrency payments. On October 8, the company announced that it has started supporting Bitcoin Cash (BCH) payments as part of its bid to open its store “to customers around the world.”

Dano Ramovich, CEO of Newparts, accepting cryptocurrencies will help expand their operation to international markets. To enable crypto payments, the company has partnered up with e-commerce platform Shopping Cart Elite.

With the new payment system, Newparts hopes to have faster and affordable transactions, which, in turn, will attract new clients to its operations. Newparts has joined a list of many companies who have opened up their payment systems to allow cryptocurrency payments, especially Bitcoin BCH. Other cryptos accepted on the platform include BTC, BTC Gold, XRP, ETH, LTC and Zcoin.

Allowing crypto payments will also help Newparts customers save money. According to the auto parts retailer, customers will now pay small fees from each transaction, making it cheaper to buy any auto parts they need. Cryptocurrency holders around the globe now have an opportunity to access a wide range of auto parts.

In the last five years, cryptocurrencies have become the alternative money to make any transaction. People prefer using cryptocurrencies like Bitcoin BCH due to their cost-effectiveness, security, accessibility, and decentralized nature.

Bitcoin cash, in particular, has been enjoying an increase in popularity and adoption since it was created—essentially a rebirth of Bitcoin on the original chain—in 2017. Many companies have added support for payments in Bitcoin Cash compared to other cryptocurrencies. This is because the cryptocurrency offers reliable, faster and cheap transactions compared to traditional means of sending money. Data available on Coinline, a Bitcoin Cash merchant directory, showed that there are more than 210 points throughout the world are accepting Bitcoin BCH payments, with Australia having the highest concentration of merchants accepting bitcoin cash in the world.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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