In 2009, Bitcoin launched the digital currency or cryptocurrency revolution and it would seem that by now more online commerce brands and marketplaces would have jumped on the bandwagon. Yet, companies like Amazon, eBay, Etsy, are mostly still on the sidelines when it comes to accepting cryptocurrencies.
Therefore, it’s not much of a surprise when any small news about one of the larger online companies considering crypto there is a small buzz. That is exactly what happened last month with eBay and cryptocurrency SHIB.
In a tweet to the @AskeBay customer service account, an eBay user asked the company if they could pay for their purchase with SHIB.
Somewhat surprisingly, the eBay buyer actually received an answer from a rep by the name of Graham saying, “Thank you for bringing this amazing suggestion to our attention. And feel free to reach out if you have any other feedback, or any eBay-related questions. ~Graham”
The answer is vague enough that it could probably apply to any number of suggestions users may bring to eBay’s customer service account on Twitter. This was very likely just an eBay rep following a script that ended up creating a slight buzz because it became an answer to a cryptocurrency question.
While there is a very enthusiastic SHIB community, the reality is that if a major brand were to start accepting any cryptocurrency now, it would likely be Bitcoin first.
eBay and Crypto
So where does eBay stand with Crypto?
Back in 2017, we published a story quoting former SVP of eBay Americas, Scott Cutler, saying eBay was “seriously considering” accepting Bitcoin, but “we’re not quite there yet.” And more recently, an official statement by eBay hinted again at the same possibility.
Yet, despite Bitcoin and other cryptocurrencies being floated every so often, eBay and most online marketplaces have generally sat on the sidelines when it comes to accepting cryptocurrencies.
These crypto stories make for great fodder (hype) on social media but have produced little movement to bring cryptocurrency payments closer by a major marketplace.
Certainly, all major eCommerce brands keep an eye on cryptocurrencies – some may even have plans in a drawer to roll out a solution to accept crypto – but the lack of interest so far is also a signal they must not believe it will drive much in sales. And at the end of the day, that is what it’s all about in eCommerce.
To date, Newegg remains one of the few significant online commerce companies to accept cryptocurrencies. Being a tech-focused marketplace, its user base is much more likely to embrace new technologies, such as digital currencies, and it makes some sense for them.
Newegg even likes SHIB as they did announce on Monday the company would accept SHIB in early December.
SHIB enthusiasts that still have hope eBay may actually be interested, there is a Change.org petition that is just shy of 1,500 signatures to make your voice heard. With all due respect to Graham from eBay, It will take significant user demand to get eBay’s ear.
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