Reddit Likely to Bring Back Bitcoin Payments, Add Ethereum and Litecoin Support

Reddit might enable Bitcoin payments yet again following Ethereum and Litecoin joining it 7781

The CTO of Reddit has announced that the platform will soon be relaunching Bitcoin payments through the platform.

As Bitcoin becomes more mainstream and popular with miners and traders, payment requests are often made in a rapid fashion that the network can not support.

However, Slowe did not provide a specific timeline for when Reddit will bring back cryptocurrency payments, merely stating that it would likely happen once the company finishes its redesign. He also stated that the social media website is looking to add more crypto options.

Another reason was "some bugs around the Bitcoin payment option that were affecting purchases".

Slowe explained that Reddit's March decision to ban Bitcoin payments was the result of several factors, including high fees on the Bitcoin network and the time constraints involved in upgrading the platform's API integration to make it compatible with Coinbase's new merchant payment service. However, he added, when the site does become crypto friendly once again, it's looking to expand beyond Bitcoin, with Litecoin and Ethereum being folded in as well.

Some time ago, the famous social network platform Reddit, made a decision to no longer accept bitcoin payments for purchasing Reddit Gold.

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. Reddit had been accepting payments made via the popular cryptocurrency since February 2013. Nevertheless, in March Reddit team took a decision to disable Bitcoin as a payment method. "We are looking at Ethereum and Litecoin that are provided by Coinbase as well", said Slowe. The platform's Bitcoin subreddit unites 816 thousand subscribers, while the number of its Cryptocurrency subreddit amounts to 663 thousand. In fact, that was part of the issue with the high fees on the Bitcoin network.

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.

Reddit co-founder, Alexis Ohanian, recently revealed his bullish sentiment regarding Ethereum's ether, saying that the cryptoasset will hit $15,000 by the end of 2018.

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