Reddit Removes Bitcoin As A Payment Option

‘Coinbase Change’ Caused Reddit To Remove Bitcoin As Payment Option

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  • Reddit removes Bitcoin as a payment option.
  • Claims “upcoming Coinbase change” is responsible for this action.

Reddit: According to a Reddit post published on March 23 in subreddit /r/btc, the American social news aggregation, web content rating, and discussion website, Reddit, has been reported to have removed the option for its users to pay for their premium membership program, Reddit Gold, in Bitcoin. Reddit cited an “upcoming Coinbase change” as being responsible for removing Bitcoin as a payment option.

Also read: Yahoo! Japan To Launch Cryptocurrency Exchange Soon

Reddit user BitcoinXio posted a video that shows that the only payment options available to users are PayPal and credit card.

payment option

Another Reddit user emoney40, a moderator of several subreddits but not /r/btc, added a comment that the change in payment option is due to the upcoming Coinbase Commerce change:

“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.”

In early March, Coinbase posted on its Medium page about dropping Coinbase Merchant Tools for Coinbase Commerce, which they admitted: “may be disruptive to Coinbase Merchant Tool customers.”

Coinbase stated that as from April 30, Coinbase Merchant Tools customers will no longer have access to that product, and specified May 31 as the deadline for all Coinbase Merchant Tools customers to switch to Coinbase Commerce.

Also read: Bitstamp Exchange To Be Sold Out To South Korean Investors

Reddit user emoney40 also stated that adding Bitcoin back as a payment option is not a guarantee:

“We’re going to take a look at demand and watch the progression of Coinbase Commerce before making a decision on whether to re-enable.”

Some Reddit users on the thread, however, commented that they were not using Bitcoin to pay for Reddit Gold anyway, due to the high transaction fees. Last February, the transaction fees for Bitcoin dropped below that of Bitcoin Cash (BCH), and this had been one of the main talking points of Bitcoin’s competitors.

It is however uncertain if this will in any way affect Reddit or its users. If you have any contrary view, tell us in the comment box.


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