Black Friday is the retail event of the year. Brick-and-mortar and online retailers alike have utilized the day to offer the best discounts to their customers. Since 2012, bitcoin has participated, and this year more than 150 retailers are expected to participate in Bitcoin Black Friday, sponsored by Private Internet Access (PIA).
According to the site, the event is fairly straightforward. Merchants list deals that are exclusive to bitcoin payments. Interested users can visit their site on Black Friday to see all the deals in one place. Users can visit beforehand and subscribe to the site’s mailing list for reminders and tips.
Indeed, the event brings benefits to bitcoin holders and those hoping for a wider acceptance of the cryptocurrency. CoinDesk explains that having a one-stop place for bitcoin users to find exclusive deals saves time and reduces stress. Today, Digital Currency Executive Brief posted a story explaining that the event has grown in popularity and significance since its first year. The increasing number of participating merchants can help expose bitcoin to a whole new audience. Interested members of this audience can do research on the bitcoin-exclusive deals and learn how bitcoin operates.
Inverse discussed another benefit of Bitcoin Black Friday: good press. Unfortunately, bitcoin is often associated from the general public’s point of view with unfavorable transactions, such as those done through Silk Road. Bitcoin Black Friday founder Jon Holmquist told Inverse that the event allows people to see retailers accept the cryptocurrency and treat it like a traditional currency.
The complete list of participating retailers won’t be released until Black Friday.