By Nick Hamilton | United States
During an interview with Cheddar, Chris Stowe, the CTO of Reddit, asserted that Reddit hopes to bring back payments dealing with Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH).
Reddit stopped accepting Bitcoin in March of this year, when the Coinbase Merchant Services were experiencing some technical difficulties and bugs. This led the popular sharing site to drop the Cryptocurrency as an option for payment.
Coinbase has since announced the migration of Coinbase Merchant Services to a program called “Coinbase Commerce,” a program specifically designed for merchants. The migration of Coinbase Commerce will end on May 31st, which is when we could see a return of cryptocurrency payments to Reddit.
Reddit has always been very crypto friendly, with subreddits such as r/Bitcoin, r/Crypto, r/Litecoin, and r/Ethereum having tens of thousands of subscribers.
Stowe said the following Thursday:
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.
We have been looking at other cryptocurrencies. 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.