Share this article
Reddit to Relaunch Bitcoin Payments (And Add More Cryptos)
Reddit is looking to bring back cryptocurrencies as a payment option – and this time bitcoin won't be the only option.
By Wolfie Zhao
Updated Sep 13, 2021, 7:54 a.m. Published May 3, 2018, 9:00 a.m.
Social media platform Reddit is planning to reinstate cryptocurrency as a payment option for its gold members – and this time bitcoin won't be the only option.
In an interview with Cheddar on Thursday, the site's chief technology officer, Chris Slowe, said that, while bitcoin's spiking transaction fees and an integration issue with its cryptocurrency payments processor Coinbase had led to Reddit dropping bitcoin as a payment method in March, the option is likely to return once the platform has completed a redesign.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Furthermore, the CTO stated that the site is looking to add more crypto options than just bitcoin this time round.
Slowe said:
"We have been looking at other cryptocurrencies. As a matter of fact, that was part of the issue with the high fees on the bitcoin network. We are looking at ethereum and litecoin that are both provided by Coinbase."
As reported by CoinDesk, Reddit explained in March that Coinbase's decision to disable its Merchant Tool and replace it with a new Coinbase Commerce product had been in part the cause of the site halting its bitcoin payments option. Payment bugs affecting some users had also been an issue, according to an administrator.
Coinbase Commerce allows merchants to accept multiple cryptocurrencies and has other new features compared with the older product.
Reddit image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
IMF Flags Stablecoins as Source of Risk to Emerging Markets, Experts Say We Aren't There Yet
The IMF warns that USD-pegged stablecoins could undermine local currencies in emerging markets by facilitating currency substitution and capital outflows.
What to know:
- The IMF warns that USD-pegged stablecoins could undermine local currencies in emerging markets by facilitating currency substitution and capital outflows.
- Despite concerns, experts argue that the stablecoin market is still too small to have a significant macroeconomic impact.
- Stablecoins are primarily used for crypto trading, and their market size remains small compared to global currency flows.
Top Stories
