Reddit 800x450 - Cryptocurrency Payments Coming Back to Reddit – Including ETH, BTC and LTC

Cryptocurrency Payments Coming Back to Reddit – Including ETH, BTC and LTC

Some time ago, the famous social network platform Reddit, decided to no longer accept bitcoin payments for purchasing Reddit Gold. According to the company, this happened because of some bugs with Bitcoin payments and the Coinbase change on commercial accounts.

The Reddit user emoney04 explained:

“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.”

At the moment, it seems that the platform is ready to incorporate back crypto payments for purchasing Reddit Gold, but with one unexpected surprise, Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) would be accepted.

Reddit Restores Crypto Purchases

In an interview with Cheddar, Reddit CTO Chris Slower, explained that Bitcoin had very high fees and was a problem for purchasing Reddit Gold. At the same time, he said that they are also looking at Ethereum and Litecoin, which are operated by Coinbase, have low fees and fast transactions.

https://twitter.com/cheddar/status/991761725379801090

Christopher Slowe commented:

“We’ve been looking at other cryptocurrencies in fact. That was part of the issue with the high fees on the Bitcoin network. We were looking at Ethereum and Litecoin that were provided both by Coinbase as well.”

Important figures of the cryptocurrency space have already shown their support to Mr. Slower’s comments. Charlie Lee, Litecoin’s founder gave a retweet to Cheddar’s interview and showed his support for this decision.

https://twitter.com/SatoshiLite/status/991829948737339393

At the same time, Mr. Slowe said that Reddit has one of the oldest Bitcoin communities online around 8 years ago. Moreover, he explained that every single coin in existence has a specific sub-Reddit for discussions.

Coinbase made important changes to Coinbase Commerce, which allowed merchants to accept Bitcoin as a means of payment. Currently, if a commerce wants to keep accepting virtual currencies as a payment option, they will have to make a significant upgrade.

Now, Bitcoin and other cryptocurrencies will come back to the platform allowing users to easily give Reddit Gold to an interesting article, post or discussion.

Build a winning crypto portfolio
Free report teaches how to structure your crypto portfolio, so you can maximize gains and minimize losses.
We respect your privacy.