Yes, you can sell Bitcoin on eBay.
According to eBay’s virtual currency policy, if you use a classified-ad listing, you can sell various types of virtual currency:
- in-game currencies
But, the question you should probably be asking is…
Is it safe to sell Bitcoin on eBay?
The largest risk when selling Bitcoin “on” eBay, is that the transaction must take place off eBay. As previously mentioned, you must use a Classified ad.
Classified Ads make it dangerous to sell Bitcoin on 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.
You’ll also have to arrange who goes first, requiring an element of trust with no escrow, no security, no protection. Big risk.
Normally, when selling on eBay, you are protected by eBay. When you move off-site, you’re protected by no one.
Payments made via Paypal can be charged-back
If you find a buyer on eBay, they will probably want to pay with PayPal. This presents a huge risk, especially to unwitting sellers.
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, if not eBay?
eBay isn’t a safe place to buy and sell Bitcoin, however, here are the best options.
My two go-to places are:
- Coinbase; the most popular cryptocurrency exchange
- The easiest place to buy bitcoin
- The “apple store” of Bitcoin
- LocalBitcoins; the most popular person to person exchange
- The most competitive pricing
- The most payment methods avaliable
Given that you’re considering selling Bitcoin on eBay, you should go with LocalBitcoins. You’re probably looking for that person to person element. After all, both LocalBitcoins and eBay are marketplaces, and work on very similar premises.
- LocalBitcoins provides an escrow system, it’s very secure, and allows you to transact Bitcoin.
- Both eBay and LocalBitcoins use feedback to rate users
- And finally, both eBay and LocalBitcoins have support staff that will aid in mediating any issues that you might run into
- 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.