eBay Not Accepting Cryptocurrency Payments

eBay

Earlier this week, there were rumors that eBay (NASDAQ:EBAY) is going to start accepting cryptocurrency as a form of payment. While the e-retailing giant did not confirm these rumours at the time, many thought it was true: the company’s banners at the Consensus conference indicated so. But it’s not true. And the company has now confirmed that.

Here’s everything we know.

eBay Accepting Crypto? Nope

It’s no secret that the list of companies that have started to accept cryptocurrencies, like Bitcoin, as payment is growing. And at a rapid pace, might we add. But not everyone is jumping on this train, despite rumours saying so. One company is eBay, which said yesterday, according to Bloomberg, that it is not accepting, nor is it planning to accept cryptocurrencies as a method of payment.

“Cryptocurrency is not accepted as a form of payment on the eBay platform, nor is it part of our payments strategy,” explained a spokesperson for the San Jose, California company.

Of course, this might come as a disappointment to some. When you combine this week’s increase in crypto prices with the company’s reach, in addition to its “Virtual Currency. It’s happening on eBay” billboards, one might have been convinced the rumors were true.

Then again, not everyone seems disappointed. After all, EBAY stock didn’t plunge on the market today. In fact, EBAY stock closed the day up 0.65%.

Never Say Never

Some companies don’t like to announce things too fast. Just because crypto payments are not part of eBay’s payments strategy right now doesn’t mean it won’t ever be. The company is clearly aware of the potentials of the industry, so we have to think it is not ousting the idea entirely.

What do you think? Do you think eBay should start accepting cryptocurrencies as a method of payment? Let us know in the comments below!

Featured image: DepositPhotos

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