eBay Denies Rumours Of Accepting Crypto As A Payment Method

By Rishma Banerjee

Rumour had it that eBay was on its way to accepting cryptocurrencies as an official mode of payment but the American ecommerce giant has refuted ass such claims. The said rumour first popped up at the Consensus 2019 Summit, where promotional adverts that read “Virtual Currency. It’s happening on eBay” seemed to be indicative of a move towards incorporating as a payment method. However, no official statement had been released at that time. Now, it seems that these rumours were false and the fact they have officially been denied has dashed the hopes of the entire crypto community who were hoping to use their cryptocurrencies to purchase the items they desired.

A company spokesperson responded to the rumours by simply stating,

“Cryptocurrency is not accepted as a form of payment on the eBay platform, nor is it part of our payments strategy.”

This stance has resulted in the entire crypto community trying to guess what those advertisements were really about if not a teaser into eBay’s upcoming changes. Many are still hopeful as they see an easy avenue by which eBay can accent crypto, even if not directly. This has been prompted by the company’s collaboration with UTRUST, a bitcoin payment gateway, which recently hired an ex Ebay and Paypal employee. The idea is that they would be the ideal vessel that could serve as a link between the two.

However, for those who are into online shopping and want to use their crypto reserves for the same, a company named Moon announced plans to create an add-on service whereby users can use cryptocurrencies on e-commerce sites, including eBay’s main rival, Amazon, while waiting for further updates regarding the advertisements from the concerned authority.