Reddit No Longer Accepts Bitcoin Payments for Premium Membership

Mar 29, 2018 at 12:28 // News
Author
Coin Idol
Reddit no longer accepts bitcoin payments

A popular discussion medium and social platform for the cryptocurrency market - Reddit has recently confirmed that it will not accept bitcoin payments for obtaining a premium membership. The platform may have disabled this option because of the change in Coinbase payment construction.

“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 Reddit admin @ emoney04 reported.

He added:

“We’re going to take a look at demand and watch the progression of Coinbase Commerce before making a decision on whether to reenable.”

Reddit premium membership provides a user with a number of extra features, such as the ability to switch off ads, to change your reddit theme and comment highlighting, to save links you’ve visited and categorize them, to create your own secret society, to gain more comments, and others.

The change in policy was discovered by a user who published a video displaying how to present a premium membership to somebody else. Special attention was paid to the fact that the only accepted payment options remaining were PayPal and credit card. High transaction fees are considered to have been a possible reason for Reddit withdrawing blockchain-based bitcoin payment support.

Moreover, Coinbase has revealed the information about its new fintech design called Coinbase Commerce last month. It enables traders to use the desirable crypto coins that are stored on a digital wallet regulated only by merchants. So, that is the main reason why some ventures, that have a low rate of payments in trading coins, made the decision to delete that option.