No More Reddit Gold for Bitcoin
The popular social media platform, Reddit, has stopped accepting Bitcoin for Reddit Gold. The platform had started accepting the decentralized cryptocurrency back in 2013 through a partnership with the popular online Bitcoin exchange, Coinbase.
Many people found this decision to stop accepting Bitcoin odd since the social media platform has a very large and active cryptocurrency community. Reddit admin emoney04 confirmed the decision to stop accepting Bitcoin:
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.
Users speculate that this decision may have been driven by the previous high transaction costs of Bitcoin that even reached $50.
Will Bitcoin Get a Second Chance?
High transactions fees may have been the reason why some online merchants stopped accepting Bitcoin as a payment method. However, Bitcoin transaction costs have drastically fallen in the last couple of months. The average Bitcoin transaction currently costs $1.07, which when compared to other payment forms, is pretty attractive to consumers.
According to a Bloomberg …
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