Bitcoin (BTC) Payments To Return On Reddit, Together With Litecoin (LTC) and Ethereum (ETH)
In an interview with Cheddar yesterday, the Chief Technology Officer (CTO) of Reddit, Chris Slowe, stated that the popular online platform that is the home for many cryptocurrency and blockchain communities, is hoping to bring back crypto payments with Ethereum (ETH) and Litecoin (LTC) being additions to Bitcoin (BTC) that was accepted up until March this year.
The platform dropped Bitcoin (BTC) as a form of payment for Gold Membership back in March after experiencing some technical challenges with the Coinbase Merchant Services change that was occurring at the time.
Redit administrator ’emoney04′ explained the change as follows:
“The upcoming Coinbase change, combined with some bugs around the bitcoin payment option that were affecting purchases for certain users, led us to remove bitcoin as a payment option.”
Coinbase made the decision to discontinue their Merchant Tool product in favor of Coinbase Commerce which enables merchants to accept multiple cryptocurrencies directly into a user-controlled wallet. Coinbase commerse was designed specifically with merchants in mind.
The Coinbase announcement on the migration to the new service was made on March 6th with the Coinbase Merchant Toll becoming inactive 3 days ago 30th of April. The migration to Coinbase Commerce is ongoing up until May 31st for the merchants who would love to migrate to the new platform. This means that Reddit has up until then to announce if it will still be using Coinbase’s services.
As with all technology advancements and upgrades, Reddit was to first monitor the demand for the new Coinbase service and act accordingly. The platform is also doing its own upgrades with some users being able to access new features in the redesigned platform.
Christopher Slowe further states:
“We just didn’t have time to upgrade our current API integration, and once the redesign…is landing, I think we’ll see crypto payments come back.”
Reddit has always been pro-crypto with the platform being a very good host for lots of cryptocurrency communities and projects as earlier mentioned. There are also several cryptocurrency tip bots on the platform for coins such as Ripple and Reddcoin.
One can only hope that once BTC, LTC and ETH start being accepted on Reddit, that other crypto such as Ripple (XRP), Reddcoin and Nano will also be included in the list.