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Leaked video suggests Reddit might be adding cryptocurrency option

The forum and discussion giant Reddit is very possibly about to release a blockchain-based points system that runs on its app.

A theory appeared after platform’s member MagoCrypto uploaded a video yesterday that shows a beta version of implementing points system on the official Reddit’s app for Android.

The Redditor Mago Crypto introduces himself as a community manager at Unstoppable Domains, the company that helps to launch uncensorable websites. This link gives some credibility, as Reddit might be cooperating with the company that collaborates with crypto wallets and applications.

The video, although not yet verified by Reddit itself, suggests the platform might be testing blockchain technology and cryptocurrency payment options to reward members for their posts.

The main feature presented in a short video is cryptocurrency wallet, that could be used for storing Reddit community points. Some other clues, like the section called “Tipping and Transfers” suggest the upcoming points might be valuable as they could be transferred to other members or spent on the platform to get any purchase. The video gives no hints however, if these points, that very possibly will come in a form of cryptocurrency, could be transferred outside the app.

Further guess includes functionalities, that those points might have. As topics like membership and voting are also included in the beta version of Reddit’s digital wallet, the fact indicates that points might be used for member’s contribution to platform’s development.

Reddit already has a solid crypto community with more than 1.4 million members in Bitcoin and nearly 1 million in the Cryptocurrency sections. The platform has never adopted a blockchain-based ecosystem although separate facts like giving tips with Basic Attention Tokens (BAT) indicate that there already is a will within the community.

Considering the fact that Reddit is the 6th most popular site in the United States and the 18th worldwide, if the discussion giant decides to add a crypto tipping option, this might accelerate the mass adoption of digital currencies.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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