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Crypto Payments Set to Return to Reddit

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Crypto Payments Set to Return to Reddit

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The CTO of Reddit, Christopher Slowe, has announced that Bitcoin is set to return as a payment option on the platform.

Slowe was interviewed by the business and technology news outlet Cheddar, when he revealed that Reddit was currently working towards the reintroduction of the Bitcoin payment option. Users were previously able to purchase Reddit Gold with Bitcoin on the platform but this option was disabled recently.

During the interview, Slowe noted that Reddit was also investigating the feasibility of providing alternative cryptocurrency payment methods, saying, ”We are looking at Ethereum and Litecoin that are provided by Coinbase as well.”

While Slowe did not provide a timeframe for when he expected the payment methods to be live, he did say that he anticipates them to come back in the near future. In the meantime, Reddit users are still able to purchase Reddit Gold via PayPal or Credit Card.

Bitcoin was disabled as a payment option in March this year, according to a Reddit admin due to changes made to the payment gateway provider Coinbase Commerce. The admin user claimed that an issue with the Coinbase service had led to its removal.

“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 admin wrote.

Coinbase Commerce had indeed changed the terms of their service, requiring merchants to make a significant upgrade to continue facilitating transactions. During the interview with Slowe, he said that rather than Reddit focus on this upgrade, they were instead fixing efforts on upgrading the design of the platform.

Reddit hosts the largest online cryptocurrency community for discussions and debate. Currently, the Bitcoin subreddit has 816,000 subscribers, with the cryptocurrency subreddit holds over 663,000 subscribers. Reddit first enabled Bitcoin as a payment option in February 2013.

 

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