Reddit Plans to Take Bitcoin Once Again-Along With Litecoin and Ethereum

  • Reddit Plans to Take Bitcoin Once Again-Along With Litecoin and Ethereum

Reddit Plans to Take Bitcoin Once Again-Along With Litecoin and Ethereum

It was an unpopular decision, albeit one that made a lot of sense.

He said that their team is now actively working on bringing back bitcoin payments on their platform.

Anyone who has ever perused the self-proclaimed "front page of the internet" will have noticed there is an option to buy something called Reddit Gold.

A month-and-a-half after dropping its support for Bitcoin, Reddit is hoping to double down on cryptocurrencies. That decision was not too popular, for obvious reasons, but the company chose to take this approach regardless. In fact, that was part of the issue with the high fees on the Bitcoin network.

Reddit CTO Christopher Slowe made this revelation during an interview with financial news outlet Cheddar, explaining that cryptocurrency payments will likely return to the platform once Coinbase finishes upgrading its merchant platform to Coinbase Commerce and the social media giant completes a website redesign. Supporting more currencies simply makes a lot of sense.

Bitcoin was removed from the platform in March. Although the spiking fees were a concern, it also seems the company had to contend with Coinbase API issues.

Reddit's CTO said that the platform hosts discussion threads for every cryptocurrency and has been a hub for Bitcoin enthusiasts for about eight years.

Now, as Coinbase Commerce perfects it's processing Reddit is interested in reinstalling crypto payments on the site.

Assuming this functionality comes back pretty soon, the cryptocurrency community has something to look forward to.

Reddit, one of the largest online forums in the world, is gearing up to resume accepting bitcoin payments.

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. There is a lot of positive momentum in this industry as of right now, although it remains unclear if it will last for much longer. "So, I think if they're actually fixing that, then we'll probably jump back on and have more options available".