Reddit to Relaunch Bitcoin Payments

Social networking platform Reddit will reinstate cryptocurrency for being a payment option because of its own gold members - and also this time around Bitcoin won’t be the sole choice.

In a meeting using Cheddar on Thursday, your website's chief technology officer, ''Chris Slowe, said, whilst Bitcoin's spiking trade fees along with also an integration dilemma having its cryptocurrency payments chip Coinbase had contributed to Reddit falling Bitcoin for a payment system from March, the alternative is very likely to reunite once the platform has recently completed a re design.

Additional that the CTO said that your website is seeking to incorporate more crypto options than simply Bitcoin now around.

Slowe stated:

"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."

According to CoinDesk, Reddit clarified in March the Coinbase's decision to disable its own Merchant Tool and substitute it using a brand new Coinbase Commerce product was simply the origin of your website preventing its Bit coin obligations option. Payment bugs affecting a few users already been a concern, in accordance with a administrator.

Coinbase Commerce platform enables retailers to accept a number of crypto currencies and it has additional new features as well as the elderly product.