Speculation over when eBay will begin accepting cryptocurrency payments have been persistent over the years. However, these eBay crypto rumors recently intensified as eBay took out ads at the Consensus conference in New York City referencing cryptocurrencies.
eBay denies rumors of upcoming cryptocurrency support
The e-commerce giant has now refuted the rumors that the platform will begin accepting cryptocurrencies as a payment method. Nevertheless, the denial of these eBay crypto rumors comes after eBay advertisement at the Consensus conference seemingly teased cryptocurrency support.
Specifically, billboards at Consensus New York had a series of cryptocurrency-friendly messages. Perhaps the most widely circulated billboard seemingly hinted that cryptocurrencies would soon be ”happening” on eBay.
”Virtual Currency. It’s happening on eBay.”
Furthermore, this billboard was part of a broader advertising campaign targeted at Consensus 2019 goers. The e-commerce firm also indicated that ”digital collectibles” – possibly referencing cryptocurrency tokens – would also ”happen” on eBay.
The news of potential eBay crypto support would have been huge news. The online auction site is a widely recognized name around the world, and calls itself the ”world’s largest marketplace”. As such, eBay cryptocurrency adoption would be a significant step towards mainstream adoption.
What’s more, some observers have speculated that the notion of upcoming eBay cryptocurrency support could have played a part in the past days’ Bitcoin rally.
However, eBay has now come out and contradicted these rumors. It would seem that the company’s Consensus ads were misleading, according to an eBay spokesperson:
”Cryptocurrency is not accepted as a form of payment on the eBay platform, nor is it part of our payments strategy.”
Whole Foods, Bed Bath & Beyond and Barnes & Noble have all announced cryptocurrency support
Rather, eBay’s ”virtual currency” ads seem to have been referencing a section on the e-commerce platform called ”Virtual Currency”. This part of the online marketplace allows people to buy cryptocurrencies from sellers using traditional fiat currency.
This would seem to contradict that eBay is developing cryptocurrency support. However, it is unlikely that this denial will completely silence the eBay crypto rumors.
With that said, hopes that eBay was about to announce crypto functionality were not entirely unreasonable. In fact, several other actors did confirm cryptocurrency support in their stores during the first day of Consensus.
For example, Whole Foods Market, Bed Bath & Beyond and Barnes & Noble were all confirmed as launch partners for the crypto wallet app Spedn. Moreover, Spedn uses the Flexa network to facilitate cryptocurrency transactions.
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.