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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies. All Rights Reserved. Advertise Submit a Press Release. Reddit Dropped Bitcoin Payments in March Speaking to technology-focused news source Cheddar , Chris Slowe, the chief technology officer at Reddit, said that the reason behind the decision to stop accepting Bitcoin in March was twofold.

Play Now! Tags: adoption bitcoin cryptocurrency payments ethereum Litecoin reddit. Tweet Share Share Send. Could you be next big winner? Rick Delafont Based in Europe, Rick has written about the cryptocurrency industry since Related Posts. Uno Re to provide 1. Premium Partners. Top Brokers. Top Casinos. Top Altcoins. December 1, Technical Analysis. Cryptocurrency news. The platform had ended support for Bitcoin payments in March According to Slowe, the online discussion and news aggregation platform is working to restore Bitcoin payments.

The Reddit CTO also touched on the reasons for the initial decision to disable Bitcoin payment support. Coinbase, the cryptocurrency exchange service, made changes to its API, switching from merchant tools to the new Coinbase Commerce platform.

As a result, platforms that used Coinbase to process Bitcoin payments had to upgrade their systems. Slowe said the Reddit team was busy with its redesign at the time that Coinbase made the change. 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.

At the time of the removal for Bitcoin support by Reddit, many surmised that it was due to the high transaction fees. After the removal back in March, an admin for the site wrote:. 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.

The decision was surprising given that Reddit is one of the prominent online crypto hubs. The platform began accepting Bitcoin payments in February , becoming one of the first online services to do so. Users of the site could pay for a Gold membership subscription using the cryptocurrency.

The website is a useful resource for the crypto community, hosting information on relevant industry happenings. The Bitcoin subreddit has k subscribers while the cryptocurrency subreddit has k subscribers. Reddit wants to add more cryptocurrency payment options besides Bitcoin. When asked whether the platform would consider other crypto payment options, Slowe said:.

We have been looking at other cryptocurrencies. We are looking at Ethereum and Litecoin that are provided by Coinbase as well. The social media platform has not given any concrete timeframe for when it will resume accepting Bitcoin payments.

The migration of old merchants onto the new Coinbase Commerce platform continues till the end of May, so chances are more information will be released after that.