10 June 2014 / Wilmington Biz – Add Reeds Jewelers to the list of retailers willing to let customers pay with the digital currency Bitcoin.
The Wilmington-based company, a nationwide jewelry store chain, announced Monday that it will accept Bitcoin for payment at its 64 retail locations and online at www.Reeds.com.
Bitcoin is a digital currency that is based on mathematical formulas, not a country’s central bank. According to bitcoin.org, “bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network.”
Mitch Cahn, Reeds’ director of marketing and business development, said the company’s primary motivation is staying on top of new technology and improving the options available to customers.
“Traditionally the jewelry industry is very antiqued. In 1998, we launched Reeds.com, which was very progressive way back then. We like to be right there at the top,” he said. “We have always been a strong online player. When Overstock, and other top-tier companies added Bitcoin, we decided to make the jump.”
Cahn also said that the Bitcoin owner is a customer demographic that Reeds wants to attract….. Read more
