Is eBay going to accept cryptocurrency payments? This ad sparked a hot discussion

An advertisement at the Consensus conference in New York in 2019 sparked a hot debate, and people speculated that eBay would soon accept cryptocurrency and bitcoin.

There are two slogans in this ad:

Virtual currency, which is happening on eBay.

A total of 179 million active buyers hitting the world's largest market.

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The content of this advertisement is quite concealed, but many people think that this is evidence that the e-commerce giant is about to accept cryptocurrency payments. EBay has always been interested in cryptocurrencies.

If this is true, it will be a big hit for mainstream adoption, as eBay is one of the world's largest e-commerce platforms with 180 million active buyers from around the world.

"Virtual currency, happening on eBay"

eBay is one of the sponsors of this year's "New York Consensus Conference", these photos make Twitter users into crazy speculation.

Some users pointed out that there was more reliable news at the end of last year that UTCUST, the cryptocurrency payment platform, had hired former PayPal and eBay executive Sanja Kon as vice president of global cooperation.

UTRUST claims to be the "world's first" cryptocurrency payment solution that provides instant trading, buyer protection and cryptocurrency to cash settlement.

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Therefore, netizen Blackout believes that the company will cooperate with eBay to support multiple cryptocurrency payments.

UTRUST accepts multiple cryptocurrencies and converts them to fiat at the point of sale, depositing dollars, euros or pounds into the merchant's bank account. This is also a low-cost service, and merchants only pay 1%.

However, this is still a very young startup, and has not even launched a beta wallet – so if UTRUST is a partner, eBay may not be able to see cryptocurrencies for the time being.

Maybe… eBay has long been a "virtual currency"?

Of course, these few words may not represent anything. "Virtual currency, which is happening on eBay" can also simply refer to the existing "virtual currency" category on eBay, which provides users with an anonymous way to allow users to buy and sell cryptocurrencies.

If this is true, it would be too boring.

If you are considering buying and selling cryptocurrencies on eBay, keep in mind that the risks you have to bear are not small, as many sellers do not have star ratings or product pages and no comments. No matter what you do, eBay is not the place to buy failed ICO projects.

Looking at cryptocurrencies, eBay and PayPal are very different

eBay has been considering accepting bitcoin and other cryptocurrencies for some time.

In December 2017, eBay's senior US vice president said they were "seriously considering" accepting bitcoin payments, but have not done so yet.

In contrast, eBay's payment partner PayPal has been very resistant to Bitcoin.

Last week, PayPal CFO John Rainey revealed that it was “premature” for the company to offer bitcoin payments because the merchant experience was not ideal due to market volatility. He said that what excites executives is "blockchain rather than bitcoin."

What we are seeing is that because of the instability of the currency – every day there is such a large fluctuation, if the merchant accepts such a currency, they will soon be converted into a more stable currency, such as the euro or the US dollar.

We also have teams working on blockchains and cryptocurrencies, and we hope to be involved in any form in the future – I just think it's too early (for Bitcoin).