Reddit Bringing Back Bitcoin Payments

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Popular website Reddit plans to bring back bitcoin payments along with ether and litecoin for its Reddit Gold premium membership program.

CTO Christopher Slowe shared with Cheddar that Reddit is thinking of putting back cryptocurrency payments for its gold members. Reddit was previously accepting bitcoin through Coinbase to process users’ payments.

The company dropped bitcoin payments in March because of the coin’s high transaction fees. There were also issues with the payment processor Coinbase. Although, the payment method returns as the website finished its redesign.

“We have been looking at other cryptocurrencies. As a matter of fact, that was part of the issue with the high fees on the bitcoin network. We are looking at ethereum and litecoin that are both provided by Coinbase.” – Mr. Christopher Slowe, CTO and Founding Engineer, Reddit

In the past, Reddit closed its doors to cryptocurrency payments because of Coinbase’s decision to disable its Merchant Tool and use the new Coinbase Commerce product. Users also complained about payment bugs.

Reddit is a free-to-use website but members have the option to be a gold member by getting a $3.99 monthly payment or a yearly payment of $29.99. Benefits of being a gold member include not seeing advertisements, having Reddit themes, have a custom Reddit alien avatar, new comment highlighting, and more.

Source: Coindesk

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Gino

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