Sellers in Craigslist Are Now Able to Specify if They Accept Bitcoin

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The next time that sellers wish to sell old furniture, they can utilise it as an opportunity to add more bitcoins to their stockpile as Craigslist now gives sellers a way to specify in their listing whether they accept the virtual currency. Blockexplorer News has observed a new checkbox option in Craiglist that says “cryptocurrency ok” when sellers create a new ad, which actually does make sense for transactions on Craigslist. Since the website does not vet sellers or buyers, paying with virtual coins means that sellers would not have to worry about receiving bounced checks and fake bills, and they would not have to give a total stranger their bank details for payment.

Of course, catering cryptocurrency comes with its individual set of problems. For instance, Bitcoin recently broke through the $16,000 barrier. However, its value has been shifting for months. Sellers could end up earning nearly nothing from a sale if the value of the Bitcoin plunges — or they could end up making bank. Also, customers might be hindered by transfer fees that they might be required to pay on top of the amount that the buyers are asking for. In fact, recently, Steam ceased accepting bitcoin for game purchases since its value is too unpredictable and transaction fees are too costly. Even if they have never encountered a bitcoin transaction, at least it is now easier to inform potential sellers that they are willing to deal in virtual currency.