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Overstock to accept all major cryptocurrencies

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Overstock to accept all major cryptocurrencies

Overstock.com Inc. has integrated with instant digital asset exchange ShapeShift to allow customers to use all major cryptocurrencies for online payments.

Overstock is the first major retailer to accept multiple cryptocurrencies as payment. The retailer now accepts Ethereum, Bitcoin Cash, Litecoin, Dash and Monero. It began accepting Bitcoin in 2014.

ShapeShift allows digital currencies to be converted into these different coin types. Once customers select their preferred cryptocurrency during checkout, submitting the order will transfer the coins. ShapeShift then converts the cryptocurrency to Bitcoin.

Refunds from a cryptocurrency purchase will be made in Bitcoin, but users can again use ShapeShift to exchange that back to their preferred cryptocurrency.