No, eBay Will Not Support Crypto Payments; Lists Crypto-related Products However
The popular e-commerce platform has denied rumors of supporting Bitcoin or other specific digital assets.
eBay, one of the most well-known e-commerce platforms, has denied rumors that it will support cryptocurrencies as a mode of payment. At the time of writing, the payment policies of the site do not list Bitcoin or any other digital asset.
The rumors started circulating after a sign at the Consensus 2019 conference suggested a link between eBay and crypto. But the platform explained that the ad referred to cryptocurrency related products being sold on the platform, including ASIC miners.
eBay specifically clarified that it did not intend to add digital asset payment options:
eBay supporting crypto rumors arrived at a time when mainstream adoption is spreading. However, retailers are still skeptical, due to the volatile prices of digital assets and problems related to maintaining and securing crypto wallets.
There were also rumors surrounding eBay and Binance Coin (BNB), and even though BNB has proven to be a strong digital asset, there is no upcoming partnership between eBay and Binance as per official channels.
BNB traded at $25.26 on Wednesday, near peak dollar prices, after BTC reached above $8,000 and gave a boost to altcoins. BNB is also a new type of coin, using a network of dedicated nodes, after moving away from the Ethereum network. The new asset is faster and offers lower fees, but it is still not anywhere close to being used as a retail means of payment.
Digital assets have been used for cross-border payments, but they have a serious drawback - there is no possibility of chargebacks, especially for Bitcoin (BTC). Several blockchains allow for reversing transactions, but those events are also rare. This makes cryptocurrency payments somewhat problematic for online retailers.
It is perhaps due to these issues that eBay has remained towards cryptocurrencies, even though it has explored Bitcoin payments in the past.