On Tuesday, Avnet announced that it has begun accepting cryptocurrency payment methods, which means that its customers can use Bitcoin to purchase electronic components.
Avnet’s cryptocurrency payment service is provided by Bitpay. When Avnet’s customers choose to use Bitcoin (BTC) or Bitcoin Cash (BCH) for purchase, Avnet works with Bitpay to verify the funds, process the order and complete the transaction.
Avnet explained that it is stepping up its support for cryptocurrency payments to provide its customers with a more convenient way to complete their financial transactions so they can focus on developing their products rather than how to pay for their transactions. Avnet also revealed on Tuesday that it had completed several orders for cryptocurrency transactions in the first month of accepting cryptocurrency payments, with orders worth millions of dollars.
As the world’s largest distributor of electronic components, Avnet became the first distributor to introduce cryptocurrency payments. Will other distributors such as Arrow, WPG, Digi-Key and Mouser Electronics support cryptocurrencies in the future? let us wait and see.