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Avnet to Accept Payments in Bitcoin Via BitPay

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Avnet one of the biggest electronics components and services distributor in the United States, on 19 March announced that its customers could make payments in cryptocurrency via crypto payment processor Bitpay.

“We’re working with BitPay to facilitate secure blockchain payments for all types of customers so they can focus on developing their products, not how to pay for them,” Avnet vice president of demand creation Sunny Trinh.

“Bitcoin gives our customers added flexibility, and we are excited to offer our customers the option to pay with bitcoin or bitcoin cash,” said Sunny Trinh.

“By partnering with BitPay, we’re supported by the largest cryptocurrency transaction platform in the world. What does that mean for you? Well, simplicity, for one. And cost efficiency, for another. With BitPay helping process purchases made with cryptocurrencies, you can count on: real-time conversion rates, calculated down to a 15-minute window, a fixed 1% fee, which will look like nothing when compared with traditional intermediaries, and the ease of use you’ve come to expect with online platforms,” Avnet stated on their website.

“I predict Avnet will attract many new blockchain-focused customers from around the world that want to take advantage of paying with bitcoin. Not only is paying with bitcoin easier and faster than with credit cards and bank wires, it is less expensive and acceptance of it is growing,” said Sonny Singh, chief commercial officer at BitPay.

BitPay stated in January that it had reached over $1 billion-worth of cryptocurrency transactions in 2018 two year running.

According to the announcement, Avnet and Bitcoin.com have teamed up to develop a hardware wallet that caters for cryptocurrency storage and gives the “highest level of security” for transactions.

Avnet becomes the third largest technology company in the U.S. following Microsoft and Dell now to accepting bitcoin payments, said the spokesperson for Avnet.

Following in this direction, Swiss based Digitec and Galaxus, an online retailer has started accepting cryptocurrency as payments as well. The payment processor for the website will be Coinify. They will be accepting bitcoin, bitcoin cash, ether, litecoin and other notable altcoins.

Avnet was Founded in 1921, and is one of the oldest large American electronics companies. It has over 15,000 employees and has $250 million income net worth. Today, its business centres around helping to design and manufacturer electronics for other companies.

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