Reddit is planning to bring back Bitcoin (BTC) on its platform. And this time the social networking platform is also thinking of bringing other cryptocurrencies like Ethereum (ETH and Litecoin (LTC) for its users. It should be noted that in March 2018, the platform suddenly shut down using Bitcoin as the payment method for purchasing Reddit Gold after enabling it in February 2013.
Issues With Coinbase Caused Disabling Of Bitcoin In March
Over the years, Bitcoin became one of the most used tokens for transacting on Reddit, which is the largest community platform where cryptocurrency investors come together and discuss crypto market trading and currency. As of now, Cryptocurrency Subreddit has more than 663K subscribers whereas 816K users have subscribers for Bitcoin Subreddit.
So it was shocking when Reddit suddenly decided to disable Bitcoin on its platform without giving any notice. The customers were left with no option but to pay using Credit Card and PayPal. However, after the discussions heated up and reached the first page of Bitcoin Subreddit, a Reddit admin decided to finally come out with a reply. According to him, Reddit was facing issues with the payment platform of Coinbase due to which they had to disable Bitcoin payment.
Reddit To Watch Coinbase Commerce Progression
Coinbase decided to discontinue their Merchant Tool and instead favored Coinbase Commerce that enabled merchants to accept Bitcoin Payment. The admin said that the changes in Coinbase had some bugs around the payment option of Bitcoin and these changes were affecting certain users while making the purchases. The change also necessitated a significant upgrade and Reddit was not ready to make it.
According to Reddit CTO, Christopher Slowe, at that time Reddit developers were too busy with the new Reddit designs that they did not have time to update the Coinbase API. As a result, Reddit decided to remove the cryptocurrency as a payment option from its platform.
Slowe also said that now they are also looking at other cryptocurrencies like Ethereum and Litecoin. Even though Reddit is now thinking of adding Bitcoin Payment back to its platform, it is first going to watch the operation of Coinbase Commerce and then take the final decision.