Fox Sports has learned that retailers such as C21, the department store chain in New York City, have begun accepting bitcoin for online purchases.
The digital currency has been a hot topic in recent weeks, with a growing number of retailers and consumers embracing it as a form of payment.
C21 has begun accepting the cryptocurrency at its stores across the country.
The company said the change will begin this month, but customers can continue to use the digital currency as they do today.
The decision comes as bitcoin has gained popularity as a way to circumvent the payment processing fees that retailers charge for the services they offer.
Censorship and privacy concerns are also causing retailers and users to look for alternatives, said David Jaffe, a technology and information security analyst with Counterpoint Research.
“They have no control over the currency, so they can’t control the rate at which they’re used,” Jaffe said.
“They can’t regulate the transaction volume, so it’s basically unregulated.”
Some retailers have taken to accepting bitcoin as a method of payment, such as a Wal-Mart store in Arizona, which recently added the cryptocurrency to its loyalty program.
Other retailers are exploring the use of bitcoin as part of their digital transformation strategy.
The online retailer Lululemon launched its own Bitcoin-based loyalty program, and Walmart recently added Bitcoin as a payment option for some of its employees.