Overstock begins accepting Bitcoins in payment

Online retailer Overstock has reportedly started accepting virtual currency Bitcoins as a form of payment.

Overstock has partnered with Bitcoin platform Coinbase to enable bitcoin payments on Overstock.com.

According to Mashable, shoppers can shop as usual on the site and in at the checkout page can choose "Pay with Bitcoin" and the order would be completed using the shopper's Coinbase account or Bitcoin address.

However, Bitcoin payments have been currently made available only for shoppers from the US, and orders paid with bitcoins cannot be combined with other forms of payment.

China's central bank has prohibited financial institutions in the country from processing the virtual currency transactions.

The price of bitcoins recently reached 1,000 dollars for the first time since mid-December last year.