Technically yes, you can sell Bitcoin on eBay. You can sell various forms of virtual currency; cryptocurrencies and so on.
But, the question you should probably be asking is… “should I sell Bitcoin on eBay”.
Reasons not to sell Bitcoin on eBay
The largest risk when selling Bitcoin “on” eBay, is that the transaction must take place off eBay.
Classified ads essentially match buyers and sellers, but they provide no protection to either party.
eBay does not provide a payment facility for classified ads. The payment must be arranged between the buyer and the seller.
If you find a buyer on eBay, they will probably want to pay with PayPal. Big risk.
You’ll also have to arrange who goes first, requiring an element of trust with no escrow, no security, no protection. Big risk.
When you normally sell on eBay, you are protected by eBay. When you move off site, you’re protected by no one. You guessed it, Big risk.
If you ever grow foolish enough to accept a PayPal payment off-site for Bitcoin, you’ll likely find your payment reversed.
PayPal does not allow the transaction of digital currencies, and as such, you’ll have no way of protecting your payment. The buyer will always come out on top.
Where should I buy and sell Bitcoin then?
As eBay doesn’t really allow you to sell Bitcoin in a safe manner, you should consider other places.
My two go-to places are:
- Coinbase; the most popular cryptocurrency exchange
- LocalBitcoins; the most popular person to person exchange.
As you’re wondering about selling Bitcoin on eBay, you should go with LocalBitcoins. You’re probably looking for that person to person element.
LocalBitcoins provides an escrow system, it’s very secure, and allows you to transact Bitcoin.
- Do not sell Bitcoin on eBay, it is not safe
- Trade on LocalBitcoins
If you have any more questions, experiences or tips, drop them in the comment section below.
Until next time,