Reddit To Re-Enable Bitcoin Payments – Add More Cryptos

May 3, 2018 2:33 pm Published by

Gold members of social media platform Reddit may be able to take advantage of a new payment option after announcing plans to reinstate cryptocurrency – but also noting bitcoin won’t be the only option, CoinDesk reported Thursday.

Speaking to Cheddar, Chris Slowe, the site’s chief technology officer, said while bitcoin’s spiking transaction fees and an integration issue with Coinbase led to the dropping of bitcoin as a payment method in March, the option is likely to return after a platform redesign, the report said.

Slowe said Reddit is seeking more crypto options for the platform than just bitcoin, CoinDesk reported.

“We have been looking at other cryptocurrencies,” Slowe said. “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.”

Back in March, Reddit explained Coinbase’s decision to disable its Merchant Tool and replace it with a new Coinbase Commerce product was partially to blame for the site halting its bitcoin payments option, CoinDesk reported. Payment bugs affecting some users had also been an issue, according to an administrator.

Coinbase Commerce allows merchants to accept multiple cryptocurrencies and has other new features, the report said.

WN.com, Jack Durschlag



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