Reddit Is Hoping to Bring Back Bitcoin Payments, Looking At Ethereum and Litecoin Too

Reddit Is Hoping to Bring Back Bitcoin Payments, Looking At Ethereum and Litecoin Too 1

The CTO of social media platform Reddit has revealed that the company is considering reinstating cryptocurrencies for payments, including bitcoin, ethereum, and litecoin.

Speaking in an interview with Cheddar, Chris Slowe, the site’s chief technology officer, explained that it was down to high fees on the bitcoin network and a lack of time to update the Coinbase API integration to accept bitcoin payments, that the company dropped the cryptocurrency as a payment option last month.

At the time, Reddit said that it was due to a ‘Coinbase change’ and ‘some bugs around the bitcoin payment option that were affecting purchases for certain users,’ as the reasons for its removal.

However, it now seems that the company is planning on reintroducing the cryptocurrency payment option. Notably, though, it’s not just bitcoin that Reddit is thinking about making available.

“We’ve been looking at other cryptocurrencies,” said Slowe. “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.”

News of this comes at a time when Reddit’s co-founder Alexis Ohanian, said yesterday that he thinks ethereum will outpace bitcoin in terms of gains by the end of 2018. In a report from TermSheet, Ohanian said that while he still holds some bitcoin, he’s ‘bullish about ethereum simply because people are actually building on it.’

When asked to give a figure as to where bitcoin and ethereum will be by the end of the year, he said that bitcoin will reach $20,000 and ethereum will be worth $15,000.

He’s not the only one that’s confident of where the second most valuable cryptocurrency is heading; however, he’s probably one of the few that has given such a high value to it. Last month, Nigel Green, founder and CEO of deVere Group, said that he believed the ether token would be valued at $2,500 by the end of the year.

Reddit Is Hoping to Bring Back Bitcoin Payments, Looking At Ethereum and Litecoin Too 2
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 42,814.00
ethereum
Ethereum (ETH) $ 2,929.65
cardano
Cardano (ADA) $ 2.32
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 350.32
xrp
XRP (XRP) $ 0.940691
solana
Solana (SOL) $ 136.25
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 29.93
dogecoin
Dogecoin (DOGE) $ 0.209833
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 42,814.00
ethereumEthereum (ETH)
$ 2,929.65
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 514.61
litecoinLitecoin (LTC)
$ 151.32
bitcoinBitcoin (BTC)
36.476,24
ethereumEthereum (ETH)
2.495,97
tetherTether (USDT)
0,851970
bitcoin-cashBitcoin Cash (BCH)
438,43
litecoinLitecoin (LTC)
128,92
bitcoinBitcoin (BTC)
31,240.73
ethereumEthereum (ETH)
2,137.72
tetherTether (USDT)
0.729685
bitcoin-cashBitcoin Cash (BCH)
375.50
litecoinLitecoin (LTC)
110.42

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin42,799 0.34 % 0.53 % 9.38 %
Ethereum2,935.3 0.76 % 1.00 % 13.97 %
Cardano2.300 1.02 % 0.02 % 2.08 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Binance Coin350.75 0.69 % 2.16 % 13.59 %
XRP0.9400 1.22 % 1.34 % 11.96 %
Solana136.42 1.12 % 3.75 % 7.57 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.06 % 0.01 % 0.09 %
Dogecoin0.2093 0.97 % 0.75 % 13.11 %

bitcoin
Bitcoin (BTC) $ 42,814.00
ethereum
Ethereum (ETH) $ 2,929.65
cardano
Cardano (ADA) $ 2.32
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 350.32
xrp
XRP (XRP) $ 0.940691
solana
Solana (SOL) $ 136.25
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 29.93
dogecoin
Dogecoin (DOGE) $ 0.209833