Reddit to Relaunch Bitcoin Payments (And Add More Cryptos)

Reddit to Relaunch Bitcoin Payments (And Add More Cryptos)

Social media platform Reddit is thinking to reinstate cryptocurrency as a payment option for its gold members - and this point bitcoin won't be the only option.

In an interview with Cheddar on Thursday, the site's CTO (chief technology officer), Chris Slowe, stated that, while bitcoin's spiking transaction fees and an alliance issue with its cryptocurrency payments processor Coinbase had led to Reddit leaving bitcoin as a payment method in March, the decision is likely to recover once the program has finished a redesign.

Moreover, the CTO stated that the site is seeing to add more crypto choices than just bitcoin this time round.

Slowe stated:

"We have seen at other cryptocurrencies. That was part of the problem with the high fees on the bitcoin network. We see at ethereum and litecoin that are both provided by Coinbase."

As stated by some news channel, Reddit announced in March that Coinbase's decision to damage its Merchant Tool and substitute it with a new Coinbase Commerce product had been in spring the cause of the site blocking its bitcoin payments option. Payment bugs hitting any users had also been an issue, according to an administrator.

Reddit celebrates as r/bitcoin hits 1 million subscribers

Coinbase Commerce enables merchants to accept multiple cryptocurrencies and has other new features associated with the older product.

#Reddit #Bitcoin payments Reddit #Reddit bitcoin

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