With more than $10 billion in trading volume daily, it has become harder for companies to ignore bitcoin. eBay is therefore simply providing a service for its clients who would prefer to use an alternative method of payment. However, just as the senior VP of eBay stated, the company is not about to jump right into it. Instead, they are only ‘seriously considering’ the move, yet it may not be the right time.
Recently, high bitcoin transaction costs have discouraged low-value transactions. Take the current bitcoin fees, which are over $10 per transaction and consider why a buyer would want to incur that cost for just a $20 purchase. It is because of these fees that other companies like Steam no longer allow transactions in bitcoin, despite having a large following of crypto enthusiasts.