Can I promote my blog in Reddit? Do they monetize it?

It is possible to post and self promote your blog on reddit. It is possible. But it is not an effective way to get traffic. The traffic I'd temporary. And reddit do not pay you for sharing. The things shared on reddit are ridiculous. I have stopped visiting the site. The users are abusive when they found what you are sharing to be your own content. I do not see anything wrong with that because users choose to see what they want in the first place. If you really need such platform, Facebook is the most effective based on my experience. Reddit can fall in the spiral of decay while FBI continue to dominate Web 2.0. Deploy SEO and use article linking to get more traffic is the long term solution.

As it was said cleverly you don't make money with Reddit, and it's more of a fun site than to promote links because your content must be upvoted A LOT to even get into a good position, users that think the content is interesting are the ones who will vote.

As far as I know you can promote your blog in reddit but reddit does not monetize it.