Reddit, the popular news and discussion platform, recently made the decision to no longer accept Bitcoin membership purchases for Reddit Gold, the premium ad-free version of the site. However, in an interview with Cheddar on Wednesday, Reddit CTO Chris Slowe shares the company plans to bring back cryptocurrencies as a payment method, including Ethereum, Litecoin and Bitcoin.
The reasoning behind the March decision to remove the bitcoin payment option stemmed from two major factors, as detailed by Slowe in the interview, including issues related to bitcoin’s transaction fees, as well as problems with accessing Coinbase’s API. According to Slowe, both factors are now less of an issue, and the company is actively working with Coinbase to properly integrate all three mentioned cryptocurrencies.
.@Reddit, which hosts communities for every single cryptocurrency in the world, is hoping to bring back crypto payments to the platform, this time with Ethereum and Litecoin in addition to Bitcoin, according to CTO @KeyserSosa. pic.twitter.com/wkUniMvhex
— Cheddar (@cheddar) May 2, 2018
We will await more information on the exact timeline and integration plan, but this should definitely be welcomed news to the growing Reddit crypto community.