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The eBay platform may soon join the world of cryptocurrencies!

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The eBay platform may soon join the world of cryptocurrencies!

Everything that was based on traditional payment services and ordinary Web 2.0 services wants to evolve to keep up with the new. While Amazon thought for a bit and then abandoned the idea of ​​adding cryptocurrency payments. Its popular competitor, eBay, thinks it’s time to move on to new digital payment services.

Above all… What is the eBay platform?

If you don’t know, this is a light platform definition. The eBay platform is an online buying and selling platform that has been around since the 1990s and is an absolute competitor to platforms like Amazon and AliExpress. You can buy many things on the eBay platform, but what sets it apart from the rest is that it can give ordinary users the ability to sell anything they have within the platform and get buyers, especially rare things. From there he gained his fame.

Problems with PayPal and then Visa pushes eBay to include cryptocurrencies

One of the most common problems on the eBay platform is that since its inception and between it and the famous payment services, there have been many problems, on top of which is the PayPal platform. Over the years, eBay has been turning PayPal on and off based on issues between them, once you’re allowed to pay and vice versa. The problems between the two platforms are related to payment services and refunds. To get closer to the problem, User X buys something on eBay published by User Y. What happens is that User X, for example, does not receive his item or has been cheated, so he asks for a refund, and in this case , seller Y refuses to refund the price of the product because, for example, he sent it. Here eBay intervenes and then writes to PayPal to force the user to refund the amount, which creates many disputes. Paypal policy violates this and cannot refund the price after 15 days either.

eBay announces its digital wallet… in principle

It’s not an official announcement, but some leaks indicated that eBay is in the process of working on a digital wallet (like Coinbase) intended for people who shop voraciously on the platform, or for everyone in general. This digital wallet would help everyone to buy and sell on eBay. The nature of cryptocurrencies that may be supported by the platform has not been determined, but it is inevitable that they will at least be supported by popular cryptocurrencies such as Bitcoin.

The eBay platform can offer offers and discounts to users of its wallet

It was also noted in the list of leaks that eBay’s platform is also working to provide a range of deals and discounts to encourage users to use their own wallet. You can also provide a loyalty system to buyers, such as saving points on each purchase or sale, or offering them real discounts. There will be plenty of deals going on in the new eBay wallet that everyone can benefit from.

Further expansion of cryptocurrencies and increase in their prices

We should not underestimate the eBay platform and what it can achieve, if it announced its support for a cryptocurrency like Bitcoin, expect a surge and increase in the price of the latter. Why? Because tens of thousands of people will buy it to take advantage of it on the platform. This could be a good opportunity for you to also buy and store coins that eBay can already support. Which is expected to increase in price as soon as the platform is announced. It could also be the beginning of other companies like Amazon or even medium-sized platforms like Wish to start receiving payments through cryptocurrencies. And eBay can offer them the opportunity to buy directly through their new digital wallet.

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