The global e-commerce service eBay has been moved to a whole new level of development owing to PayPal’s recent announcement about the eventual Bitcoin integration.
Experts and analysts believe the decision to do so was taken by PayPal’s management under the “pressure” of innovations enjoyed by users of Apple products.
Shortly before PayPal reported they would start accepting cryptocurrency, Apple introduced the new iPhone and their contactless payment service Apple Pay to the US public. According to experts, this innovative payment system is able to transform the entire market of mobile payments.
Interestingly, eBay stocks fell 2.5% on the day Apple presented their new gadgets. Upon pain of being pushed to the sidelines, the e-sales giant might have considered Bitcoin integration the only solution possible.
According to authoritative forecasts, in the future Bitcoin system may become a serious competitor to fiat money. With this in mind, Bitcoin integration by PayPal is a huge step forward, as it contributes to the influx of new customers and the expansion of the market of electronic payments. Technology analyst Rob Ederle says PayPal finally recognized its vulnerability on a number of fronts, and is very likely to start acting aggressively in terms of service extension.
Still, is Bitcoin better than PayPal?