You could soon be using virtual currencies such as the peer-to-peer Bitcoin on eBay UK. In fact, the online market place giant announced that it will allow the sales of certain virtual currencies as from February 10th.
eBay UK pioneering new scheme
eBay UK will be pioneering this interesting new development. It suggests that if all goes well in the UK, eBay as a whole may consider introducing this across the board.
Starting February 10th
So, come February 10th, this will be introduced, but only under certain circumstances. For sellers, this means that they can only use the virtual currency for the classified ad selling format.
Will UK virtual currency scheme become more widespread?
It’s going to be an interesting experiment for sure. However, it does raise the question of whether eBay is considering allowing all payments in virtual currencies such as Bitcoin at a future date. However, this idea isn’t as farfetched as it first appears. Bitcoin is quickly growing in popularity!
Other online retailers, such as American company Overstock.com, are already accepting Bitcoin payments and they surprised even themselves with the resounding success. They were “stunned” when orders worth over $130k by 840 customers were placed on the first day it went live.
Only time will tell
We can draw an interesting conclusion from their success. People are ready to pay using Bitcoin and virtual currencies, so eBay could well find their experiment equally successful. So, keep an eye on this exciting development!
