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eBay “Seriously Considering” Accepting Bitcoin Payments

Published 1 year ago by Maryam Manzoor

eBay “Seriously Considering” Accepting Bitcoin Payments

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Popular e-commerce platform eBay has been observing the recent crypto craze, and is now considering offering clients the option of Bitcoin (BTC/USD) payments, according to a senior company executive. In an interview with Yahoo Finance, Scott Cutler, senior vice president of eBay Americas, said his company is looking into the prospect of adding Bitcoin payments to their platform, but so far no definite steps have been taken..

“This is a trend that everybody is talking about, but sadly, at eBay, we don’t currently accept Bitcoin as a form of payment,” said Cutler. However, that eBay is currently mulling over the possibility of Bitcoin payments is a testament to the fact that cryptocurrencies are gradually beginning to establish a firmer foothold in the mainstream..

Prominent among these is Overstock, which started accepting Bitcoin back in 2014, and is currently one of the first major retailers to have started accepting multiple cryptocurrencies – Ethereum (ETH/USD), Litecoin (LTC/USD), Bitcoin Cash (BCH/USD) and Dash (DASH/USD) – as payment, following a collaboration with ShapeShift earlier this year in August. In addition, popular mobile payments app Square has also rolled out a new feature which allows users to purchase and hold Bitcoin, with CEO Jack Dorsey claiming there is “nothing more impactful to our business than digital currency.”.

However, while the popularity of Bitcoin is on the rise, several persistent issues are keeping many businesses away, namely transaction delays, increasingly high fees, and of course lack of regulation and government acceptance. Top video game distribution platform Steam also recently announced that it was going to stop accepting Bitcoin payments, citing price volatility, network delays, and rising transaction fees as the key reasons behind the move..

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