EBay is considering the introduction of bitcoin as means of payment

EBay is considering the introduction of bitcoin as means of payment

One of the largest platforms in the world of Internet Commerce – EBay is considering the introduction of payment in cryptocurrency, according to one of the company executives.

Scott Cutler, senior Vice President of eBay, said that the company is a giant of Internet Commerce there has been a lot of discussion about accepting payment in cryptocurrency.

“This is a trend that everyone is talking about, but, unfortunately, at the moment on eBay we do not accept bitcoin as form of payment,” said Cutler. “We are seriously considering that possibility, as cryptocurrencies are becoming more common means of payment, but we haven’t come to that.”

Cutler also added that the website is used as a popular secondary market for mining equipment, and third-party sellers put thousands of other products related to cryptocurrency.

Cryptocurrency comes out on Main street

Apparently, at the moment, eBay has no specific plans on taking payment in crypto-currencies. But the fact of discussion of this issue at a high level, showing the rapid worldwide spread of bitcoin.

Last week, brokerage Coinbase has risen to first place in the Apple Store. This is a consequence of the very rapid entry of retail investors in the bitcoin ecosystem, resulting in record traffic caused by the failures of the website Coinbase.

This week was the launch of futures contracts on bitcoin on the American stock exchange CBOE. And the world’s largest derivatives exchange CME will begin trading bitcoin futures next week. Initially focused on wall street, futures can lead to the creation of the first exchange traded Fund (ETF) bitcoin investment vehicle for retail investors which will be used for brokerage and retirement accounts.

The next turning point is the transformation of cryptocurrency is so pervasive that most enterprises will accept it as payment for goods or services.

Well-known retailers such as Overstock and Newegg took bitcoins for many years. But none of these retailers (a group that includes eBay, Amazon, and Alibaba) officially does not accept cryptocurrency payments. Earlier this year, has been debunked rumors of a planned acceptance of bitcoins on Amazon. Recently, the co-founder of Alibaba Jack MA said that bitcoin is “not for him”, confirming that the Chinese conglomerate is unlikely to begin accepting cryptocurrency without the support of the government.

Some merchants, as a platform for video games on Steam, ceased to accept bitcoin in recent months, citing an increase in transaction fees and the rapid growth of bitcoin. But bitcoin remains option to pay for things with great value. And for transactions with a small value, the practical option are altcoins like Ethereum, Bitcoin and Litecoin Cash.

News tags
Let's Disqus