eBay adds a new category for Virtual Currencies

eBay has recently added a new virtual currency category where Bitcoins, Altcoins and various mining contracts can be traded.

Although eBay does not currently accept Bitcoins as an official payment method, any positive reaction from eBay to virtual currencies is very important.

Not least because eBay is the parent company of Paypal

The well-known online auction house has put the category change „Coins and Paper Money“ online without much Tam Tam in April.

Currently, there are already countless offers on Bitcoins, Altcoins, Mining Hardware and Mining Contracts on the site. With the mining contracts investors have the possibility to invest in already existing or future mining projects.

With most offers it is already communicated that the Coins are dispatched on electronic way. In addition, some offers for mining hardware and mining contracts are already provided with the „buy now“ option.

This option is e.g. not allowed on the UK site under „Virtual Currencies“. The site had already added the category in February.

eBay has an exciting history of speculation in the Bitcoin era behind it. It was often speculated whether the online service would accept virtual currencies or not.

Possible risks

In a file of the „US Security and Exchanges Commission (SEC)“ the Bitcoin was described as a potential competitor of Paypal at the beginning of 2014. Paypal has a transaction fee of 2-3%.

eBay has also filed several patents in recent months that suggest interest in digital currencies and stock exchanges.

But Paypal also seems to be playing with the idea of accepting the Bitcoin as a means of payment in some way. President David Marcus says in an interview in April 2013 that he finds digital currencies „really fascinating“ and added: „In some way we will think about it“.

But there may also be concerns about the Bitcoin mining contracts offered on eBay. Many of the contracts concluded in the past have already ended in tears, as the manufacturers have not managed to deliver the hardware on time and the return has been significantly lower due to the steadily growing difficulty or even completely neutralized. If there are major delays in delivery in this category and customers may claim refunds, some customer relations could be harmed.

Even on the „Virtual Currencies“ page the banner is emblazoned. “ eBay Money Back Guarantee – Receive the goods you ordered or get your money back“.