Reddit No Longer Accepts Bitcoin

March 28, 2018, 3:40 PM UTC

Reddit, one of the most active hubs of Bitcoin enthusiasts, has dropped its support for the cryptocurrency.

The widely read social media site will no longer accept Bitcoin as payment for its Reddit Gold program.

A person claiming to be an administrator on the site told users who were grumbling about the shift that the decision was made, in part, due to Coinbase discontinuing its Merchant Tool product.

“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,” said user “emoney04.”

The administrator went on to say Reddit planned to watch the progression of the new Coinbase Commerce platform before deciding if it would once again allow the use of cryptocurrencies.

Reddit Gold, the site’s premium membership, lets users disable ads, customize their avatar, and access a private subreddit for about $30 per year. The site has accepted Bitcoin as a payment for the perk since 2013.

At the time, Coinbase CEO Brian Armstrong told TechCrunch it was a “large step forward for Bitcoin.”