Reddit to Bring Back Cryptocurrency Payments
Reddit has stated the reintroducing of cryptocurrency payments after its recent removal. In an interview with website’s company chief technology officer, Chris Slowe, he was announced that they will reintroduce cryptocurrencies back as a payment method.
Interview with Cheddar
Media outlet Cheddar interviewed Reddit CTO Chris Slowe on May 3rd. In the interview, he explained the reasons behind removing cryptocurrency payments in the past and mentioned that they will be adding the payment method back on the website soon.
The BTC payment was previously removed due to large transaction fees, and the “Coinbase change”. After that, only PayPal payments remained available. However, the company is now reintroducing crypto payments, which will allow the users to pay for its premium membership, Reddit Gold, with BTC and other cryptocurrencies.
Slowe stated that Coinbase was their main payment processing source, so they decided to reintegrate the platform’s interface. Soon Reddit will bring back the cryptocurrencies offered by Coinbase, and some of the first to be implemented will be Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
Reddit’s co-founder Alexis Ohanian has stated in another interview that most of their work in the next couple of years will consist of building the infrastructure around their software and blockchain. He commented that the markets would be bullish this year, predicting $20,000 for Bitcoin and $15 000 for ETH by the end of this year.