eBay Once Again Denies Possibility of Bitcoin and Crypto Payment Support in the Near Future


The recently concluded Consensus 2019 – the 5th edition of an annual conference for enthusiasts and stakeholders of the cryptocurrency and blockchain technology space – was considered a successful and interesting event by many attendees. One of the reasons this was so was a rumor spread among participants that eBay, the American multinational e-commerce firm based in California, is rumored to be making plans to accept cryptocurrency payments on its platform. The news unsurprisingly sparked a lot of excitement as is expected at a cryptocurrency conference.

However, before the end of the New York conference, eBay officially responded to the rumors, denying that the firm was receiving crypto payments and also confirming that it wasn’t about to begin.

The Origin of The Rumours

A trader simply is known as wolf (@ImNotTheWolf) posted some photos on Twitter which were ads by eBay at the Consensus conference. According to wolf, the pictures were gotten from a Telegram “Patrons Of The Moon” group and were supposedly eBay’s announcement of their decision to begin accepting cryptocurrency payments on their platform.

One of the ads had the words:

“Virtual Currency. It’s happening on eBay.”

Participants of the conference quickly took this as a big move towards cryptocurrency adoption signaling that eBay was joining many other big firms to support crypto. Some even speculated that Amazon might not be far behind and could soon begin accepting cryptocurrency payments.

eBay Clears The Air

However, eBay has officially explained what the ads really meant. According to the e-commerce giant, the ads were referring to items that are related to cryptocurrency on the website. Clarifying this, the company said:

“Cryptocurrency is not accepted as a form of payment on the eBay platform, nor is it part of our payments strategy…The ad is referencing the fact that eBay has a variety of virtual currency related items for sale on the marketplace, such as mining equipment.”

Also, on the eBay website, there are payment policies stated with what is accepted and what isn’t. Amongst other forms, “Paying with Virtual or Cryptocurrencies” is one of the “Not-Allowed” forms of payment.

Is There Any Hope At All?

Officially, there might be no reason to expect that eBay would soon change its payment policy and start receiving cryptocurrency payments. However, there have been stories through the grapevine linking the firm to UTRUST, a firm which provides merchants a gateway to receive Bitcoin payments. Sometime last year, Sanja Kon who was an executive with eBay and PayPal was hired by UTRUST in a move which led many to think that there could be some sort of collaboration or agreement between the e-commerce giant and UTRUST. Furthermore, a statement by UTRUST when Sanja was hired, fuelled the rumors.

According to the statement:

“Sanja’s experience at PayPal and eBay makes her the perfect person to help UTRUST drive merchant adoption of our crypto-payments platform… We anticipate that she will be a key driver in elevating UTRUST’s brand in the crypto-commerce space and ultimately the future of online payments industry.”

Other Speculated Entries into the Cryptosphere

There are rumors that the digital collectibles space which was recently popularised by Cryptokitties – a blockchain game developed by Axiom Zen on Ethereum-, is something eBay is currently assessing. There are also reports that PayPal is looking into various blockchain and cryptocurrency endeavors which might also finally see firm allowing its users by crypto via its platform.

PayPal has had a history of crypto doubt. However, this may have changed when sometime last month, PayPal director Wences Casares expressed optimism in Bitcoin, saying that it has more than a 50 percent chance of succeeding.

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