By
Mayowa Adebajo
November 29th, 2023
Reddit is likely to integrate cryptocurrency more into its marketing strategy after ensuring that demand for new bitcoin payment option, added by BuySellAds, is high.
Social networking service Reddit is possibly thinking of incorporating payments in digital currency. Suggestions arose after it released a post informing that Reddit is carrying out a trial to decide whether to include bitcoin into its advertising strategy.
Reddit’s moderator informed in its post on bitcoin subreddit that BuySellAds, its advertising partner, is now accepting payments in cryptocurrency. He added that the marketing team will monitor the development of the new option as it intends to add a similar feature.
Dylan Hulser, a strategist from Reddit, wrote: “You can demonstrate a desire to buy advertising on Reddit with bitcoin. We’ll be keeping an eye on how many people are using this feature to determine where developing tools for cryptocurrency payments fits into the overall reddit advertising strategy.”
BuySellAds, an advertising network based in Massachussets, allows its customers to advertise in such categories as motosports, gaming, design, cryptocurrency and eSports.
Reddit attracts over 135 million visitors each month, while its bitcoin community r/bitcoin has approximately 130,000 subscribers.
Reddit’s premium membership program Reddit Gold is already available for purchase in bitcoin. BuySellAds officially launched btcoin payments option on September 3rd.
In order to buy reddit advertising through BuySellAds, the users have to send money to their accounts. The funds will be converted into US dollars and then could be used for making payments.
The moderator also noted that the service is not perfect for bitcoin holders who want to spend their virtual money more directly. Still, he prompted users to concentrate on the larger goal.
Moreover, he told how Reddit users can make larger impact with spending bitcoins on advertising. He wrote: “Currently, we focus most of our time on improving our self-serve system, which impacts the sponsored headlines you see at the top. Those are our best performing and most engaging unit. If we saw a lot of success here, we would absolutely be open to expanding.”
More details about BuySellAds’s packages are described in its formal announcement. The company noted that its collection of cryptocurrency includes top altcoin subreddits, as well as those for peercoin, litecoin, dogecoin and others featured on the website.
The company expects its advertisements to the cryptocurrency community will achieve 1.75 million views per month. BuySellAds also includes geo-targeted advertisements.
The price of the advertising in a top-right banner on the firm’s site now totals $1 per 1,000 views.