Reddit Crypto Tipping Service TipJar Shuts Down

TipJar, an Ethereum (ETH)-powered service that allowed redditors to ship micropayments to one another in Ether and ERC-20 tokens, was shut down on Oct. 7. Its web site remains to be operational however will likely be additionally closed on April 10, 2020.

In a Reddit announcement printed on the identical day, TipJar’s developer cited “little or no exercise on the bot” as the principle motive for the shutdown. He additionally urged customers to withdraw their already deposited funds through TipJar’s web site as quickly as potential, including:

“The TipJar reddit bot is being shut down instantly, so tipping different customers on reddit is not potential. The TipJar web site will likely be shutting down on April 10, 2020. After that time, TipJar accounts will not be accessible and funds can’t be transferred. In case you have an current steadiness in your TipJar account, it is best to withdraw as quickly as potential.”

Crypto winter for smaller initiatives

The developer of TipJar additionally famous that he has “been paying the month-to-month server charges for a number of years, and though they’re fairly minimal, at this level it would not make a lot sense” for him to proceed funding the service that sees little curiosity from customers.

Lately, this sentiment was additionally echoed by the group behind altcoin buying and selling platform Coinexchange.io. As Cointelegraph reported on Oct. 2, the change is closing its doorways on account of low buying and selling volumes and monetary difficulties. 

Moreover, in line with Coinexchange’s official announcement, the “prices of offering the required degree of safety and assist now outweigh” its earnings.

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