Published: Sat, May 05, 2018
Tech | By Constance Martin

Reddit To Relaunch Crypto Payments

Reddit To Relaunch Crypto Payments

In 2013 the platform began accepting Bitcoin payments for purchasing Reddit Gold membership, the premium ad-free version of the site.

At the interview, Christopher claimed that Reddit developers "didn't have time" to update the Coinbase API which is used in accepting Bitcoin payments. The forum also wishes to expand its crypto payment acceptance spectrum by adding a couple more cryptocurrencies. Reddit is a popular news and discussion platform that represents itself a community where cryptocurrency enthusiasts have an opportunity to discuss the latest developments and prospects of the technology.

"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 administrator said at the time.

Bitcoin payment to resume of Reddit platform soon. Thus, the admins at Reddit elected to focus on the redesign efforts and drop bitcoin payment capability.

In the interview, Slowe said Bitcoin is likely to return as a payment method and other cryptocurrencies may be in the works, too.

Easier and more efficient means of processing payments is a big step in the right direction for not only Coinbase but the crypto space as a whole.

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The debris field is approximately 600 feet by 600 feet, she said, which is the size of approximately six football fields. He says "it nearly looked like it stalled and just went nearly flat right there in the middle of the highway".

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.

Slowe now says that Bitcoin network fees were also another contributing factor behind their decision. The platform's Bitcoin subreddit unites 816 thousand subscribers, while the number of its Cryptocurrency subreddit amounts to 663 thousand.

Reddit plans to reneable Bitcoin payments on the platform after disabling it in March, as well as adding support for Ethereum and Litecoin.

Coinbase's migration of past merchants to its new platform will continue through May 31.

"They're doing a great job, a major revitalization of their payment gateway, we just didn't have the time to upgrade our current API integration", Slowe said.

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