Reddit will no longer accept Bitcoin payments

Despite being thought of by most as a haven for Bitcoin-related chat and debate, social media platform Reddit has announced it will stop accepting crypto payments.

Previously when purchasing ‘Reddit Gold’, users could select a Bitcoin option alongside Google Checkout, PayPal and credit cards. What’s more, according to Bitcoin.com, the site has also banned a forum – r/Darknetmarkets – dedicated to anonymous cryptocurrency trading.

Despite hostility towards cryptocurrency coming from platforms such as Facebook, Twitter and Google, this is a surprising move for Reddit. It is seen by many as one of the reasons Bitcoin and crypto have taken off as widely as they have.

But according to user emoney04, the shift is for different reasons: “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’re going to take a look at demand and watch the progression of Coinbase Commerce before making a decision on whether to re-enable.”

Reddit began accepting Bitcoin back in February 2013.

FinanceMagnates