The “gig economy” took a leap forward today, as fiverr.com announced that it would allow users to pay for services in the digital peer to peer cryptocurrency known as Bitcoin.
Founded by Micha Kaufman and Shai Wininger in 2009, Fiverr is a global online marketplace where users buy and sell services, known as “gigs”, starting at $5 USD, with various extras available in additional five dollar increments for sellers who work their way up in the system. Fiverr operates in more than 200 countries and brings in revenue by taking a 20% commission from each sale that is made through their platform.
Fiverr has partnered with Coinbase, a Bitcoin startup company headquartered in San Francisco California, to accept the payments. Coinbase allows users to buy and sell Bitcoin using their bank accounts. Users will be able to make the payments from any Bitcoin wallet.
In an email sent out to Fiverr users this afternoon, Fiverr said “On the seller side, it’s business as usual. Revenue is earned and withdrawn in US dollars. The option to withdraw revenue in Bitcoin is currently not available on Fiverr.” So at least for now, you won’t be able to earn Bitcoin on Fiverr. Additionally, Bitcoin is not yet supported on the Fiverr mobile app, but they said the functionality will be coming soon.
Bitcoin is trading at an average of $686 USD at the time of this writing, after briefly dropping below $500 yesterday.