Leading Australian online consumer electronics retailer Millennius today announced it is the first major Australian online retailer to accept Bitcoin as a payment mechanism.

Bitcoin is a digital currency that enables instant payments over the Internet. Unlike credit cards and PayPal, Bitcoin has no central authority and no way to lock entire countries out of the network. Merchants who accept Bitcoin payments can do business with anyone.

Millennius Founder Pierre Boutros said Millennius was always looking for ways to make purchasing online easier for consumers, both in Australia and throughout the world.

“Bitcoin is becoming a far more common payment mechanism for online transactions, with many global online businesses adding the functionality,” Mr Boutros said.

“We’re proud to be the first major Australian online retailer offering the Bitcoin payment system and we look forward to it making our growth in the new markets in the US and the UK later this year even easier,” he said.

All products in the Millennius site are now available for purchase using Bitcoin. Credit card and Bank Transfer payment functionality also remain for those customers that prefer them.

“We’re also enabling a similar digital currency, Litecoin. For Litecoin transactions, customers will need to email litecoins@Millennius.com.au with the product they’re after and Millennius will respond to with its best rates within 24 hours,” Mr Boutros said.

Millennius believes it is the first online retailer globally to accept Litecoin payment through its site.

“Millennius is all about creating great products at great prices, and offering the best deal on brand name consumer electronics. The addition of Bitcoin and Litecoin as payment options can only help with our ability to offer great deals to wider customer base,” Mr Boutros said.