Cryptocurrencies are said to come back to Reddit platform. This time not only BTC but also ETH and LTC payments will be available for users.
The withdrawal is due to the latest change that was due after the Coinbase’s decision to discontinue the Merchant Tool product in favor of Coinbase Commerce.
Prominent venture capitalist Fred Wilson believes the blockchain technology will help Reddit to deal with censorship of the website’s content.
After securing $50 million in outside funding in September, Reddit had promised it would find a way to let the community own 10% of those shares. Now it is revealing it’s own digital currency “Reddit Notes”.
Microsoft is now accepting Bitcoin as a payment option to buy apps, games, and other products for Windows, Windows Phone, and Xbox. Check the Coinspeaker’s list of 10 other large websites now accepting bitcoin, along with each company’s Alexa Global Rank, indicating their Web traffic ranking.
Gavin Andersen answered on a series of questions related to bitcoin at the Ask Me Anything session.
Reddit received investments of $50 million that wll be used to create its own cryptocurrency for rewarding the site users.
During last week, litecoin’s network hash rate surpassed 1 Th/s, BitFury formed its strategic board and Lab Rat Data Processing faced investor suit.
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.