Reddit Plans to Provide Support for Litecoin (LTC) and Ethereum (ETH) Payments, as well as to Accept Bitcoin Again

Christopher Stowe, the CTO at Reddit recently stated for an interview that the platform sees Litecoin (LTC) and Ethereum (ETH) as good opportunities that will complement Bitcoin (BTC) when it comes to payments. Bitcoin, that was removed from Reddit will also be brought back. However, there is still no official date regarding the deadline for the integration.

Reddit changes its mind regarding cryptos

It has only been a few weeks since Reddit decided that the platform will stop supporting Bitcoin payments when Christopher Stowe, the chief technical officer for the platform addressed the issue in an interview with Cheddar. His statement regarding the future carried a much more positive note. Previously, he stated that the purchase of the gold membership through the use of BTC is both, costly and buggy because of the bad integration by Coinbase.

However, this time, he announced that the platform is discussing threads regarding all cryptos, and especially Bitcoin. BTC enthusiasts have been treating Reddit as a safe place for over 8 years now. He even remembered the day when it all started, and when one of the workers at Reddit discovered it and started making inquiries regarding the nature and value of cryptos.

Two new cryptos will join Bitcoin

With such a positive view on the topic, it is not that surprising that the payment systems on Reddit are getting another upgrade that will make them work better with Coinbase. Mr. Stowe was sure that the users will soon have the opportunity to buy gold membership even through Ethereum and Litecoin as well.

Two considerations led to choosing these two cryptos – they both provide cheap transactions that can be completed instantly, and they are both accessible through Coinbase. Bitcoin will be included as well, and the Reddit’s technical team is trying to find a way to bring it back. There is even hope that fees will be reduced through the use of SegWit and support given to the Lightning Network.

One interesting thing is that BCH (Bitcoin Cash) probably won’t be included in the deal, even though Coinbase has it on its list. Roger Ver, Bitcoin.com’s CEO, recently made an offer to Reddit where he wanted to donate $100,000 to the platform if the company agrees to replace the moderator of the subreddit called r/bitcoin. It is believed that this is due to the fact that the subreddit offers a misleading narrative that claims that Bitcoin Cash is still Bitcoin, which has put both Ver, as well as Reddit itself, under a lot of fire.

Alexis Ohanian, who is one of the co-founders of Reddit, now works at Initialized Capita, a venture capital company. Recently, he has disclosed that he is bullish when it comes to Ethereum and Bitcoin. He believes that Bitcoin has a potential to go to $20,000 by the end of the year, while his expectations regarding Ethereum include its rise to $15,000 per coin.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of NASA’s James Webb Space Telescope via Flickr