Bitcoin Prices Jump Again, Now Accepted by Namecheap

By Ed Silverstein March 05, 2013

There’s momentum building for Bitcoins. The price for the digital currency jumped from a record $32 last week to it now trading at over $40 Tuesday morning (ET).  

And Namecheap, a domain hosting service, is now accepting the digital currency.

On Tuesday, MT Gox reported that Bitcoins were trading for $40.19 as of 9:30 a.m. (ET).

Namecheap will also now let customers pay with Bitcoins for getting domain names, Web hosting services, SSL certificates and security programs.

The acceptance of Bitcoins is important since it has had more than one million customers. It is the first major domain registrar to decide to accept payment with Bitcoins. “For months, Bitcoin has been requested of Namecheap among the tech audience,” the company added on its website.

Last week, the Internet Archive agreed to pay employees in Bitcoins. It is also accepted by Kim Dotcom’s Mega service and WordPress.com, according to The Next Web.

Reddit accepts it as well, and Dotcom wants to see a Bitcoin credit card.

In another key event, the price increase for Bitcoins came at the same time Japan’s MT Gox exchange partnered with CoinLab to bring its operations to the United States.

Bitcoin is not connected to a central bank or government agency, like dollars or pounds. But its proponents see that as advantage.  Bitcoins increase in value as time passes, advocates say.

“The whole idea of a currency that increases in value is so foreign to us, so it is exciting to be a part of this movement,” Dan Charbonneau, CEO at CBT Nuggets, told TechWeekEurope. “We accept dollars and then we just can’t wait to get rid of them, because we know that tomorrow those dollars are going to be worth less. So we have to get them into some vehicle that is not going to be worth less, to protect ourselves.”

In another important event for the Bitcoin sector, BitcoinStore, an online electronics store which trades exclusively in Bitcoins, began operating this week, according to IEEE Spectrum. Since there will be no credit card fees, prices can be kept lower. Similarly, BitElectronics opened a few weeks ago.

The BitcoinStore would like to see Amazon, Newegg, Buy.com and similar operations eventually accept Bitcoins as well.

However, Amazon just announced its own virtual currency, called Amazon Coins, which will launch in May in the United States. They will be used to pay for apps, games and in-app items on Kindle Fire.




Edited by Braden Becker

TechZone360 Contributor

SHARE THIS ARTICLE
Related Articles

API Management Poised for Big Growth

By: Paula Bernier    3/22/2017

The API management market is forecast to be worth $2.665 billion by 2021, according to MarketsandMarkets. That's up from more than $606 million last y…

Read More

IBM Watson Aims to Improve Call Center, IVR CX

By: Paula Bernier    3/22/2017

At its IBM Interconnect event today, the tech giant is introducing the IBM Watson Voice Gateway. It can act as a cognitive self-service agent, directl…

Read More

The 3D Printer That Could Print Your Next House or Finish Trump's Wall in Two Months

By: Rob Enderle    3/21/2017

Not only could this 3D printer be used to rapidly rebuild a town devastated by a natural or manmade disaster, the resulting home could be better able …

Read More

How Twitter, Indiegogo and IBM Will Augment Executives and Politicians

By: Rob Enderle    3/20/2017

I think Twitter could become the showcase for what Ginni Rometty, IBM's CEO, was talking about when she said that IBM wasn't focused on replacing huma…

Read More

NVIDIA and Intel Race for Autonomous Vehicles

By: Doug Mohney    3/17/2017

While Intel was basking in the glow of a $15 billion deal for Israel-based Mobileye this week, NVIDIA announced autonomous vehicle partnerships with B…

Read More