Could your next eBay purchase be made with your lates cryptocurrency buy? The online marketplace is considering allowing cryptocurrency as a payment option and has already begun to accept non-fungible tokens (NFTs). This could mean big things for the world of cryptocurrency and it’s expansion into direct-to-consumer environments.
Bitcoin holders, cryptocurrency enthusiasts, and investors should pay close attention to this developing story. Why? What does this mean for cryptocurrency? If eBay starts accepting cryptocurrency, it could lead to wider acceptance of digital currencies across other e-commerce and direct-to-consumer selling sites. This would be a major win for the cryptocurrency community and could help to further legitimize digital currencies in the eyes of end consumers.
It’s still unclear whether eBay will actually start accepting cryptocurrency payments, but the company’s move to begin accepting NFTs is a positive sign.
eBay continues to position itself as the go-to digital retailers for millennials and Gen Z, which only further solidifies it’s case for aligning with digital currencies for digital transactions.
Their implementation of ApplePay and Google Payments led to servicing this younger, more tech-savvy buying audience, and continues, in some ways, establishes them as something of a leader when it comes to e-commerce platforms hoping to modernize.
We’ll keep you up to speed on whether or not this titan of digital commerce makes its next move to keep up with the times, but until then, prepare yourself and your own cryptocurrency investments for the coming tax season with a few of the links below.