Bitcoin, Ethereum, Litecoin—they’re all for sale on EBay. Even Ripple is on the platform, ready to be deposited into any wallet. Mining rigs, stickers, mouse pads and other items relating to the crypto-world were already commonplace. If anyone wants a “We Accept Litecoin Here” sticker, EBay’s got it. But who would go to EBay’s marketplace to purchase Bitcoin? Whose wallets are being filled by online store crypto sellers?
Perhaps some of the newer consumers aren’t familiar with exchanges? Maybe the EBay cryptocurrency revolution was started from a need to get involved but not sure how to do so? EBay is a safe, go-to. Amazon, as of writing this, only has items relating to crypto such as guides and shirts but not actual currency for sale as EBay has.
For those who already utilize the popular online marketplace, regularly, there are many others out there who cater to these buyers knowing it’s their source for everything. Even crypto.
And the prices are high. They kind of have to be as the market dips and jumps so frequently, it’s best to sell high to avoid constantly having to update the item’s listing. Additionally, consider the fees from both EBay and the crypto transfer itself, on any given sale.
Prices could also be higher simply because of the supply and demand. If a buyer doesn’t have the time to conduct proper research and wishes rather to impulsively buy digital currency on EBay, the sellers, well aware fish will bite, may be prone to selling high.
On the other hand, there might be advantage to buying say, bulk Ripple at .35 a coin in the event a seller doesn’t update their price. But such an event is unlikely.
With the recent viral story coming from Reddit, of one investor, purchasing a hard wallet from EBay, only to discover all of their currencies were actually taken and transferred away—it’s hard not to be wary of utilizing EBay as an exchange. However, given all the Bitcoin hype and mania (rightfully deserved) and society’s leaning towards a “have it now”, more impulsive mindset, for every seller of crypto on EBay, there will be a buyer.
