Reddit stopped to support Bitcoin payments

According to Bloomberg, popular social sharing platform, Reddit will no longer support Bitcoin as an on-site payment method and closes a previously available cryptocurrency for anonymous transactions.

Reddit was founded in 2005. It is a very popular topic sharing community in foreign countries. People can discuss different topics in the above, movies, science, anecdotes, pictures, etc. The content of each topic is hot by users themselves. Decision: like to point up, do not like to point down. Its main content is rated by the user. Before viewing the content, the user must first apply for an account. In 2015, there were 36 million users.

In February 2013, Reddit partnered with Bitcoin Coinbase to announce the addition of Bitcoin Payment. Reddit engineer Brian Simpson said at the time, “We received feedback from some users before requesting several additional payment methods. We hope this move (supports bitcoin payments) can meet the needs of some potential paying users.” Refers to the gold membership system launched by the Reddit platform. After the opening, you can enjoy such privileges as “can pay attention to some hidden topics”, such as $4 monthly subscription and $30 annual subscription. However, at this time, Reddit announced the removal of Bitcoin from the payment method, which indeed caused some fluctuation in the cryptocurrency market. In addition to its own inalienable influence, but also because of the scale of the information platform and cryptocurrency related topics. It is reported that this time Reddit made this decision. The main reason was that there were changes in Coinbase, and some users reported that they would encounter some bugs when using bitcoin transactions. It remains to be seen whether or not the Bitcoin payment option will be re-introduced.