The popular social-news site Reddit said it will now accept bitcoins, following blogging platform WordPress in embracing the four-year-old virtual currency.
Reddit, which lets users submit and vote on popular Web content, already uses PayPal and Google Wallet for its "Gold" service, which gives users a range of editing tools and an option to turn off advertisements. The Gold service costs US$3.99 a month or $29.99 a year.
Accepting bitcoin will allow the site to take payments from anywhere in the world, according to Reddit's blog.
Bitcoin is a virtual currency that can be purchased through exchanges for government-issued currency. Transactions are verified by a peer-to-peer system, and payments can be sent anywhere in the world for a low fee or in some cases no fee within about an hour. On Friday, one bitcoin cost about US$27, according to Mt.Gox, a Japan-based exchange.
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Source: http://www.pcworld.com/article/2028299/reddit-will-accept-bitcoin-payment-for-premium-service.html
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