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Reddit will once again Accept Bitcoin [BTC] Payments

Reddit will once again Accept Bitcoin [BTC] Payments

As previously reported and reiterated during the interview by Mr. Stowe, buying gold membership with Bitcoin has become costly due to fees and buggy due to Coinbase's faulty integration. Reddit and Coinbase are working together to incorporate all three cryptocurrency payment options. The forum also wishes to expand its crypto payment acceptance spectrum by adding a couple more cryptocurrencies.

Notably, Slowe also said that Reddit - whose platform houses forums for almost every cryptocurrency community - will likely add support for other cryptocurrencies as well. At that time, Reddit pointed to "the upcoming Coinbase change" and "some bugs around the Bitcoin payment option that were affecting purchases" as the causes for the move. Nevertheless, in March Reddit team took a decision to disable Bitcoin as a payment method.

Reddit, the social media aggregation which claims to be the "front page of the internet", will once again accept bitcoin as a means of payment. "We were looking at Ethereum and Litecoin that were provided both by Coinbase as well".

"We have been looking at other cryptocurrencies", he said.

Some time ago, the famous social network platform Reddit, chose to no longer accept bitcoin payments for purchasing Reddit Gold. Coinbase reportedly made changes to its API which required merchants looking to use its services for payment processing to upgrade their systems.

Reddit began accepting bitcoin for Reddit Gold subscriptions in February 2013 via a partnership with Coinbase.

The platform had earlier disabled bitcoin payments in March 2018 leaving subscribers with only PayPal and Credit Card payment options. In December, Steam removed Bitcoin as a payment option, citing "high fees and volatility in the value of Bitcoin". He even went as far as recalling the day when one of his colleagues walked into the office after having discovered the r/bitcoin subreddit and inquired about the nature of the cryptocurrency and whether or not it's worth the nine cents price tag.

The removal of bitcoin payments coincided with Coinbase's determination to revamp its merchant tool and replace it with a new product called Coinbase Commerce. In Reddit co-founder's opinion, by the end of this year Ethereum will be traded at $15,000.

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