Overstock has always been bullish on Bitcoin and other cryptocurrencies. In a new turn of events, the company introduces buying Bitcoin through its online platform. This is made possible thanks to a partnership between the company and Bitsy. Integrating direct cryptocurrency buying functionality is an important step in the right direction.
Overstock Continues Its Bitcoin Push
Acceptance of Bitcoin for goods and services remains a niche market. Various companies are exploring options in this regard, with varying degrees of success. In the case of Overstock, the company introduced Bitcoin payments back in January 2014. Over the years, the platform added support for dozens of other cryptocurrencies. This shows digital currencies are here to stay, at least in the eyes of this prominent company.
To make things more interesting, Overstock wants to expose more users to Bitcoin. More specifically, they aim to integrate direct cryptocurrency buying opportunities moving forward. This is done by partnering with Bitsy, an online wallet. The latter firm’s technology will be integrated into Overstock.com over the coming months.
Users can benefit from this new partnership in different ways. Bitcoin purchases are an appealing business to explore in this regard. Additionally, users will be able to hold the coins themselves and retain full control over the balance. This is very different from most other providers offering exposure to Bitcoin in this day and age. Those companies only expose investors to derivatives, rather than the currency itself.
Pushing Bitcoin Adoption to New Levels
Convenience plays an increasing role of importance in the cryptocurrency industry. Overstock opted to partner Bitsy because of its convenient approach to using Bitcoin, not to mention Overstock owns the parent company of Bitsy. In fact, Overstock.com CEO Patrick Byrne claims Bitsy “sets a new standard for cryptocurrency wallets.”
It is positive to see Overstock stick with Bitcoin. Some other companies have ventured into cryptocurrency and withdrawn support later on. This particular platform is intent on ensuring cryptocurrencies remain relevant and more people begin using them. Buying Bitcoin from the online platform directly is another step toward ensuring the adoption of cryptocurrency increases.
There is no shortage of ways to buy Bitcoin in this day and age. Numerous exchanges provide fiat currency support. Coinbase, Kraken, and Bitfinex are just a few examples in this regard. There is also the rise of cryptocurrency ATMs to take into account. Over 3,000 of these machines can be found globally. However, it is very convenient to buy Bitcoin from the very same online site you’re buying household items from.
What do you think about Overstock.com partnering with Bitsy? Let us know in the comments below.
Images courtesy of Shutterstock.
