The eCommerce giant Craigslist has given sellers the option to state if they are open to payments in bitcoin and other cryptocurrencies. This option is available through a cryptocurrency checkbox that is present when a seller lists the details of the item for sale.
Craigslist Cryptocurrency Payment Processor
Once the item for sale has been listed, the purchase and associated payment take place directly between the buyer and the seller. As such, Craigslist stands to lose nothing by providing the facilitation of cryptocurrency payments on the site.
Even once the box is ticked, unless otherwise stated in the advert’s text, it is in no way implied that cryptocurrency is the only acceptable method of payment. Additionally, the details of the payment such as the bitcoin ID are not entered on the advert, and instead shared directly with the buyer.
The first traceable online discussion about this new feature on Craigslist appeared in a Reddit thread on December 7, 2017. To date, Craigslist has not made an official announcement of or statement on the checkbox, nor has it shared the company’s position on bitcoin and cryptocurrencies.
Reports of the new Craigslist addition just 24 hours after digital distribution company Steam stopped accepting bitcoin as a payment method. The main difference between Steam and Craigslist is that P2P marketplace itself is not part of the payment process.
Merchant Integration of Bitcoin
The popular online classifieds site began in 1995, founded by American entrepreneur Craig Newmark. America’s 16th most favorite site displays over 80 million advertisements per month, making it a platform of choice for people looking to buy or sell goods quickly without a middleman.
The addition of the cryptocurrency checkbox on Craigslist is just another sign of the world’s growing integration of digital currencies. The original poster of the Reddit thread made the following comment on it, outlining how perceptions and knowledge have evolved.
“I have been mentioning bitcoin at craigslist transactions for years now,” they said. “The responses have definitely changed. I don’t get – “What’s that?” anymore at least.”
Cryptocurrency payment options are being rolled out by a growing number of retailers worldwide. As it stands, Japan leads the charts with over 4,500 retailers who accept bitcoin.