In a Great Move, RedditMarket Now Accepting Bitcoin

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In a Great Move, RedditMarket Now Accepting Bitcoin

In a huge development, RedditMarket has announced that it is now accepting Bitcoin payments. It is a merchandise store of Reddit which has been playing vital role in bringing the Bitcoin supporters at one place. The company says that Coinbase will process users’ payments on the platform, which sells a variety of Reddit paraphernalia.

The Bitcoin users came to know about Reddit’s decision which was communicated to them via Twitter. Later on it made a huge buzz in /r/Bitcoin wherein the users showed their happiness about the decision; however, some users expressed their wish for RedditMarket to accept other altcoins such as dogecoin as well.

Needless to say when the announcement was posted on /r/Bitcoin it attracted a positive response from seemingly excited Bitcoin aficionados who have been asking for this for quite some time. The news comes a couple of months after Reddit’s cryptocurrency engineer, Ryan X Charles, was let go from his post after a brief four-month stint at the company.

Reportedly, he had made plans to enable peer-to-peer payments on Reddit. This according to him allowed users to register their Bitcoin address and receive payments from others. Interestingly, these were shelved following the resignation of CEO Yishan Wong. The website has thousands of Bitcoin supports as users who have been active for a couple of years.

Though the news has come, it is unclear whether Reddit plans to pursue this functionality at a later date. Reddit was founded by University of Virginia roommates Steve Huffman and Alexis Ohanian. After its initial success, the founders sold it to Condé Nast Publications which acquired the site in October 2006.

A Wide Range of Goods and Items Available for Bitcoin

Later on, the website became a direct subsidiary of Condé Nast’s parent company, Advance Publications. Currently, it operates as an independent entity, although Advance is still its largest shareholder. Based in San Francisco, California, the company received $50 million in funding from Snoop Lion and other investors.

Now, paying Bitcoin, customers can buy Plushes and Toys, Apparel, Magnets, Stickers, and Buttons, Gift Cards, Limited Edition Tees, etc. amongst others. The products sold at RedditMarket assure the buyers of the great quality and the right prices. Now that Bitcoin has been added as a payment option, lots of users with Bitcoin will have additional use.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com