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Reddit has decided to scrap bitcoin as a payment options

Reddit has decided to scrap bitcoin as a payment options

Reddit brought the option to pay for your Gold membership with bitcoin back in 2013 in addition to the usual PayPal and credit card options. Now, it appears that the company has decided to do away with bitcoin as a payment option altogether.

A moderator confirmed that Reddit has stopped accepting bitcoin (via Bloomberg). The company wants to “watch the progression” of Coinbase Commerce (allows merchants to take various cryptocurrencies as payment) and figure out all the purchasing glitches associated before deciding if they want to bring the feature back or not.

This isn't necessarily anything against bitcoin, but is a blowback to digital money format that has seen big names drop recently. Majority of adopters appear to be backing off due to its volatility. Things need to be more stable before the cryptocurrencies can grow into the market.

Hamza Khalid

The Jolt Journal is your source for daily tech news, breaking, reviews, and insights.

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