Business Finance

Reddit is Ready to Re-introducing Cryptocurrency Payment Mode

Chris Slowe, Reddit CTO mentioned ‘Cryptocurrency payments will reinstate for the social media platform.’

After the removal of BTC (Bitcoin core) a payment mode for premium membership services recently in March, the social media company looking forward to soon restore the digital asset. On May 3, 2018 in an interview with Cheddar, the CTO of the company said, it will not only restore the BTC mode but also add more cryptocurrency options.

The restoration of BTC permits the users to by the premium membership known as Reddit Gold. Earlier in March considering “Coinbase Change” as the reason the company has removed the options and accepts payment with Paypal only. In interview the CTO said, the network transaction fees is one of the reason behind the discontinuation of the BTC payment mode.

The CTO further added that the Coinbase is the primary payment processing platform and recently the company invigorated its API and user interface. Chris said the company simply dint have the time to integrate Coinbase API but they can report the issues again.

Slowe said, way back in time around eight years ago, if anyone founds bitcoin in office, I think what it is? And why would anyone in the world would spend seven cent for one bitcoin? It has reached a long way since then and now every cryptocurrency in the world has their spate community on Reddit.

In an interview with Cheddar, Reddit CTO, Slowe declared that Reddit is all set to integrate many other cryptocurrencies soon after few weeks of hiatus. The CTO shared; currently Reddit will integrate Bitcoin Cash, Ethereum and Litecoin which is offered by Coinbase.

The news is followed by statement made on May 2nd by, Alexis Ohanian, Co-founder Reddit, he believe Bitcoin core will reach the mark of $20K by end of 2018. He also thinks, Ethereum will price for $15K USD which is 20 times the current value by the end of year.

About the author

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Shivangi Mehra

Shivangi holds a degree in Masters in Business Administration, from S. P. Jain Institute of Management and Research College, in the field of business and finance. She has been active in industry since 6 years, and has written for various well known publications as well. Her articles have been featured several times in regional news and as global tech news. Her unique style of writing, and in-depth analysis skills regarding the past trends and upcoming scope of opportunities makes her a perfect choice for her designation as an Editor for Latest Industry News.

Email: shivangi.m@latestindustrynews.com

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