Reddit to Reintroduce Bitcoin Payments, Add More Cryptos

Cheddar

As a forum for the underground, it seemed very counter intuitive for Reddit to stop accepting Bitcoin, they already had the infrastructure for it, so why would they want to regress and take a step back from a technology that really, Reddit has helped to spearhead. Although purchasing Reddit Gold has never been a primary use case for Bitcoin, having more options to entice newcomers to use BTC is not a bad thing.

However, reinstating cryptocurrency will have to wait until Coinbase - the firm's major payment processing platform - has finished a redesign of their payment services. "Yup that's right. The upcoming Coinbase change, combined with some bugs around the Bitcoin payment option that were affecting purchases for certain users, led us to remove Bitcoin as a payment option", the post reads.

Coinbase Commerce can be set up to allow businesses to accept Bitcoin, Litecoin, and Ethereum.

In the interview, Slowe said Bitcoin is likely to return as a payment method and other cryptocurrencies may be in the works, too. He revealed this in an interview with Cheddar where he also explained the reason for the earlier decision to stop accepting bitcoin payments. As a result, platforms that used Coinbase to process Bitcoin payments had to upgrade their systems.

A month-and-a-half after dropping its support for Bitcoin, Reddit is hoping to double down on cryptocurrencies.




Reddit made a somewhat controversial decision when they removed the option to pay for Reddit Gold with Bitcoin.

Coinbase's migration of past merchants to its new platform will continue through May 31. From day one, it became clear this would not be a permanent decision, but rather a short-term necessity due to Bitcoin's ongoing issues.

He concluded that when the Bitcoin payment resumes on the Reddit platform, Ether and Litecoin payments will commence on the platform as well.

These are the words of the co-founder of the very popular social news aggregator Reddit - Alexis Ohanian, who is pointing towards Ethereum for those that want to be part of the victor zone while recommending to look past Bitcoin [BTC] which is leading the crypto-list by market capitalization.

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