Reddit Drops Bitcoin Payment Option For ‘Gold’ Membership

Social media website Reddit is no longer accepting bitcoin as payment for its Reddit Gold membership software.

On Friday, buyers commenced commenting in the /r/BTC subreddit that the only offered payment techniques for the assistance are credit score cards and PayPal, whereas beforehand people today have been capable to pay for gold utilizing bitcoin.

A Saturday¬†publish in the similar forum attributed to Reddit administrator “emoney04” explained that the alter was thanks in aspect to Coinbase’s final decision to discontinue their Merchant Software item in favor of Coinbase Commerce, which will help “retailers to settle for various cryptocurrencies instantly into a consumer-managed wallet.”

The administrator went on to demonstrate:

“The future Coinbase alter, merged with some bugs close to the bitcoin payment option that have been impacting buys for specific buyers, led us to remove bitcoin as a payment option.”

They also indicated that Reddit has yet to come to a decision if it will reintroduce crypto payments after Coinbase implements its new Commerce assistance.

“We’re likely to take a glance at demand and check out the progression of Coinbase Commerce right before earning a final decision on irrespective of whether to reenable,” the administrator reported.

As beforehand claimed by CoinDesk, Reddit to start with began accepting bitcoin in its now-defunct items keep, RedditMarket, in 2015.

Reddit impression by using Shutterstock

The chief in blockchain information, CoinDesk is a media outlet that strives for the best journalistic standards and abides by a demanding established of editorial procedures. CoinDesk is an independent running subsidiary of Electronic Currency Team, which invests in cryptocurrencies and blockchain startups.

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