eBay Considering Adding Bitcoin

Scott Cutler, eBay’s (NYSE:EBAY) senior vice president, recently announced that his company is seriously considering accepting the world’s largest cryptocurrency, Bitcoin, as a payment method. On the platform itself, there is an array of items that have to do with cryptocurrency from various apparel with bitcoin emblem’s placed on them, mining contracts, hardware wallets and even mining computers. The one major thing missing, is being able to purchase goods in the cryptocurrency.

According to Cutler, the company is not quite there “yet.” This move would be a massive step towards the adoption of the digital currency. However, Steam, an online game retailer, just announced they will no longer accept Bitcoin as a means of purchase on their platform due to time it takes between the customer’s purchase and the company actually receiving the funds.

The difference between Steam and eBay’s platforms is that eBay is a marketplace, and it wouldn’t matter to them which currency is used as long as they receive their fee per transaction. The acceptance of the payment model wouldn’t be that much of a hindrance for the company, as it was for Steam so it’s adoption seems promising.

Craigslist just started accepting Bitcoin as a form of payment on-the-low but didn’t announce its new features to the public. For now, the eBay collaboration is in the idea phase, but with the holiday’s knocking on the door it might happen sooner rather than later.

Leave a Reply

Your email address will not be published. Required fields are marked *