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Reddit is killing off its Gold rewards system


After triggering protests over its API changes, Reddit is making another change that is angering its users, as the company announced that it will discontinue its coin and prize system. Although the platform says it’s working on a new rewards system, it hasn’t provided any details on when it might launch. In the past, users could buy Reddit Coins and spend them on prizes for others.

Reddit says that users will no longer be able to buy new coins starting today. All existing prizes and coins will continue to be available until September 12, 2023.

in a blog post, Reddit said that it is making this change to simplify its platform. The company says it’s heard that users don’t appreciate the “clutter of prizes and all the steps that go into awarding content.” As a result, it is working to review how rewards work on its platform, but did not provide any details on what the new system would look like.

“It has become clear that prizes and coins, as they exist today, need to be rethought and the existing system shut down,” the company wrote. “Rewarding content and contribution (as well as something gold) will continue to be a central part of Reddit. We will share more in the coming months about what this new future looks like.”

For context, the Reddit community would use coins and prizes in different ways to recognize good contributions from other members. You can see the prizes as small icons on the platform posts. Reddit first introduced Reddit Gold, which later evolved as Reddit introduced new awards including Reddit Silver, Platinum, Ternium, and Argentium. There are currently more than 50 types of prizes on the platform.

Reddit says it will share more about a “new direction for awarding that allows Redditors to empower each other and create more meaningful ways to reward high-quality contributions on Reddit” in the coming months. The goal behind the overhaul is to create a system that is simple, easy to use and easy to understand, the company says.

The company’s decision to end its current rewards system before launching the renewed one has left users upsetas it leaves the platform without a rewards system.

“Remove features without ready replacements, yeah, sounds like Reddit to me,” one the user wrote below the company announcement post. “In other words, you are removing a popular feature and charging the same amount for the premium,” another user wrote.

The latest Reddit announcement arrives as it has been been facing continued backlash for their decision to start charging developers for access to their API. The change sparked protests from multiple subreddits and moderators. Reddit CEO Steve Huffman has continuously defended the company’s decision during the last month. Reddit seems adamant in its decision, and further changes to the API pricing structure seem unlikely.



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