Ever since cryptocurrency entered the mainstream, several merchants saw the chance to start creating bitcoin memorabilia. eBay offers users anything from bitcoin hoodies to actual hardware required for mining bitcoin. However, the retailing giant still does not accept bitcoin as a method of payment.
In an interview earlier this week with Yahoo Finance, the senior vice president of eBay America, Scott Cutler, confirmed that the online shopping giant is currently investigating its options regarding accepting bitcoin payments. Currently, the possibility is still too immature to give specifics yet. Cutler noted that eBay is one of the most popular marketplaces for obtaining important pieces of cryptocurrency hardware. Several third-party sellers have also listed thousands of items for sale on the platform.
While very few online retailers offer customers the option to pay in Bitcoin, those that do allow users to utilize this payment method are seeing the benefits. Since it introduced Bitcoin payments, Overstock.com’s shares rose over 250% within the first six months. The retailer has been accepting bitcoin payments since 2014, which makes it a pioneer in the industry. In addition, Newegg has reaped several benefits, ever since they started accepting bitcoin in 2015.
According to eBay's vice president, the retailer is only still in the process of investigating the possibilities. This, however, is an encouraging sign. Several retailers have been eagerly looking to get a foot in the door of the bitcoin industry. Online retailers have a huge advantage over brick-and-mortar stores as they could more easily implement a bitcoin payment method. So far, no major online retailers, including eBay, Alibaba, or Amazon, have begun to accept bitcoin as a method of payment.
Despite this, customers are eagerly looking for ways to utilize their bitcoin in everyday life. Last week, a Coinbase app topped Apple’s App Store chart. This signifies that users would love to spend the cryptocurrencies burning holes in their proverbial pockets. The rush for Coinbase has been so severe that the app servers experienced a slow down as it struggled to meet the demand.
Bitcoin payments are becoming gradually more commonplace, but are still a long way from being fully integrated into the mainstream. Yahoo Finance recently reported that the payment firm, Square, started allowing users on its app last month.
While eBay executives are concerned with bitcoin payments, it seems more likely that they will turn their attention to outperforming their rival, Amazon, during the approaching holiday season. It’s likely that next year could see a huge improvement for bitcoin payments from several retailers, both online and in physical stores.
In an interview earlier this week with Yahoo Finance, the senior vice president of eBay America, Scott Cutler, confirmed that the online shopping giant is currently investigating its options regarding accepting bitcoin payments. Currently, the possibility is still too immature to give specifics yet. Cutler noted that eBay is one of the most popular marketplaces for obtaining important pieces of cryptocurrency hardware. Several third-party sellers have also listed thousands of items for sale on the platform.
While very few online retailers offer customers the option to pay in Bitcoin, those that do allow users to utilize this payment method are seeing the benefits. Since it introduced Bitcoin payments, Overstock.com’s shares rose over 250% within the first six months. The retailer has been accepting bitcoin payments since 2014, which makes it a pioneer in the industry. In addition, Newegg has reaped several benefits, ever since they started accepting bitcoin in 2015.
According to eBay's vice president, the retailer is only still in the process of investigating the possibilities. This, however, is an encouraging sign. Several retailers have been eagerly looking to get a foot in the door of the bitcoin industry. Online retailers have a huge advantage over brick-and-mortar stores as they could more easily implement a bitcoin payment method. So far, no major online retailers, including eBay, Alibaba, or Amazon, have begun to accept bitcoin as a method of payment.
Despite this, customers are eagerly looking for ways to utilize their bitcoin in everyday life. Last week, a Coinbase app topped Apple’s App Store chart. This signifies that users would love to spend the cryptocurrencies burning holes in their proverbial pockets. The rush for Coinbase has been so severe that the app servers experienced a slow down as it struggled to meet the demand.
Bitcoin payments are becoming gradually more commonplace, but are still a long way from being fully integrated into the mainstream. Yahoo Finance recently reported that the payment firm, Square, started allowing users on its app last month.
While eBay executives are concerned with bitcoin payments, it seems more likely that they will turn their attention to outperforming their rival, Amazon, during the approaching holiday season. It’s likely that next year could see a huge improvement for bitcoin payments from several retailers, both online and in physical stores.