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Online Currency Bitcoin Has Its Own Black Friday Event

Merchants will offer deals for a second year


Source: Flickr
Black Friday is traditionally a big day for retail sales … this year it could also be a huge day for an online currency.

Online retailers are offering a wide array of products — from smartphones to clothing — at discounted prices for users who pay with bitcoins. The event — now in its second year — is dubbed “Bitcoin Friday” and it is meant to expose consumers to the benefits of bitcoin, CNN notes.

Farmers May Find Payment Solution in Bitcoins
Farmers May Find Payment Solution in Bitcoins

Those benefits include lower transaction fees compared to traditional credit cards.  Bitcoin deals could also be even better, priced 3% to 5% less than non-bitcoin offers. Last year’s Bitcoin Friday was held before Thanksgiving, but organizers think the currency’s profile is now high enough to participate in the nation’s biggest retail day.

Bitcoins can be used to buy discounted airfares from, gift cards for major retailers like Target (TGT) and Amazon (AMZN) from Gyft, and even magazines.

Rising interest in the online currency has sent the value of bitcoins soaring recently.

The currency gained media attention earlier this year when the Winklevoss twins — who sued Mark Zuckerberg over Facebook’s (FB) founding — announced plans to launch a bitcoin fund.

Article printed from InvestorPlace Media,

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