Reddit to Support Ethereum, Litecoin Payments and Reaccept Bitcoin

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Reddit chose to drop Bitcoin after some issues with Coinbase and their current payments system.

After Reddit removed Bitcoin Core (BTC) as a form of payment for premium membership services this past March, the company seems to be planning to reinstate the digital asset soon.

In an interview with Cheddar, Reddit CTO Chris Slower, explained that Bitcoin had very high fees and was a problem for purchasing Reddit Gold.

The removal of bitcoin payments coincided with Coinbase's determination to revamp its merchant tool and replace it with a new product called Coinbase Commerce.

Reddit plans to reneable Bitcoin payments on the platform after disabling it in March, as well as adding support for Ethereum and Litecoin.

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The main reason that Ohanian is favoring Ethereum over Bitcoin is the flexible-environment for application development that the former one delivers against the blockchain platform of the latter one. "Yup that's right. 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", the post reads.

Furthermore, Reddit is open to more than just Bitcoin as a new means of payment.

But today, according to Slowe, their team is actively working on bringing back Bitcoin payments on their platform. However, he added, when the site does become crypto friendly once again, it's looking to expand beyond Bitcoin, with Litecoin and Ethereum being folded in as well.

Notably, Slowe also said that Reddit - whose platform houses forums for almost every cryptocurrency community - will likely add support for other cryptocurrencies as well. "We were looking at Ethereum and Litecoin that were provided both by Coinbase as well". Nevertheless, there is no information about the exact timeline and integration plan.