But today, according to Slowe, their team is actively working on bringing back Bitcoin payments on their platform.
Following the removal of Bitcoin as a payment option for Reddit Gold, in an interview with Cheddar on Thursday, Reddit chief technology officer (CTO) Chris Slowe indicated that this may not be permanent.
However, reinstating cryptocurrency will have to wait until Coinbase - the firm's major payment processing platform - has finished a redesign of their payment services. The forum also wishes to expand its crypto payment acceptance spectrum by adding a couple more cryptocurrencies. At that time, Reddit pointed to "the upcoming Coinbase change" and "some bugs around the Bitcoin payment option that were affecting purchases" as the causes for the move.
At the moment, it seems that the platform is ready to incorporate back crypto payments for purchasing Reddit Gold, but with one unexpected surprise, Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) would be accepted.
Reddit blamed Coinbase upgrade, Bugs, and high Bitcoin network fee as the cause.
Furthermore, Reddit is open to more than just Bitcoin as a new means of payment.
Some time ago, the famous social network platform Reddit, chose to no longer accept bitcoin payments for purchasing Reddit Gold. As a result, platforms that used Coinbase to process Bitcoin payments had to upgrade their systems.
In a curious addition meanwhile, Christopher named the high Bitcoin network fees as another factor. "We are looking at ethereum and litecoin that are both provided by Coinbase", Stowe recently stated.
Reddit also intends to accept some other cryptocurrencies.
Reddit stopped accepting Bitcoin payments in March. The platform's Bitcoin subreddit unites 816 thousand subscribers, while the number of its Cryptocurrency subreddit amounts to 663 thousand. Coinbase is about replacing its initial Merchant Tools with a new operation named Coinbase Commerce, this move has sparked mixed reactions within the cryptocurrency industry. In Reddit co-founder's opinion, by the end of this year Ethereum will be traded at $15,000.