Craigslist Now Allows Bitcoin Payments

A huge number of screenshots have been being released on social media Thursday. They confirmed the major move by Craigslist, the online posting and classified network. The snapshots show the first of a projected relationship and interactions between the online resource and growing cryptocurrency technology.

CL (Craigslist), ranks as one of the top classified ad platforms in the world. This is in accordance to SimilarWeb and Alexa, who officially rates the site at 106 out of all global sites. This is considered by many to be a giant leap by the website in support of cryptocurrency. The community members where shockingly surprised by the move. It’s likely to be lucrative for everyone as long as it’s done in a fair and correct fashion.

The amount of people who are on Craigslist is unreal. Its doubtful that there is any connection between already using craigslist and being involved with Bitcoin. As read on a top Reddit thread, which is typically considered one of the best sources for authentic information online. Apparently, however, this means there will be a lot of people who are unfamiliar with the platform and currency who are going to now see it as an option.

Bitcoin is now basically mainstream and has pushed hard for the current exposure. It’s accelerated the growth of the currency at a rate almost no one ever projected in the last 6 months or so. The reason is likely it’s now very heavily involved in Wall Street and combined with it becoming more aware to the public, is likely the major reason that the currency has skyrocketed the way it has. The unexpected turn of events has caused even higher rates of consumer use of the currency. Craigslist is definitely one of the largest major trendsetters in the classified arena and to use the cryptocurrency on their site.

All It Takes Is One Check To Take CL Into Cryptocurrency

The Cryptocurrency support is actually a very bold move. Ad posters now have the option to use cryptocurrency to pay when setting up ads. All they need to do is check one small box with the label “cryptocurrency ok.” It will officially show buyers they can pay with crypto-money for whatever product or service they are using.

There was much concern for safety, but an intelligent Reddit response showed how the practice would work in actual practice as follows:

“From the seller’s perspective, they can have a watch-only wallet & see the TX confirm. From the buyer’s perspective, if they’re paying with a private key-holding mobile wallet, they have to worry about the stranger seller robbing them of their mobile while it’s unlocked,” they stated.

Basically, as long as the seller agrees to the lock price of the BTC, the buyer can just come with a signed TX from a device that is a non-mobile wallet and to be used as a pushtx in the front of the seller, there is no need for a mobile wallet.

Any seller who has a good reputation or rating, can now easily link to their phone and number and request a payment to be made prior to the arrival of the buyer. That means there is time for the transaction to be confirmed. Is this a smart move by CL? Can they truly protect their users with the availability of cryptocurrency being used on their site? Time will tell, it’s a newly emerging trend still and there are a lot of kinks that need to be worked out before we see stability with the system.

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