At the moment there are hundreds of altcoins on the market. Not every coin already has a use case, but Reddcoin (RDD) is an exception. This cryptocurrency focuses on social media platforms such as YouTube and Facebook. It wants to make payments on these websites easier by using blockhain technology. This is why Reddcoin is sometimes described as the ‘social valuta’. After reading this article, you know exactly what this means. What are the advantages of Reddcoin in comparison to traditional payments?
The growing popularity of Reddcoin
Reddcoin is already a few years old. It was introduced on January 20, 2014. It took some time before the coin was distributed. First the team behind RDD organized a so-called Initial Public Coin Offering (IPCO) to raise digital money. They succesfully raised 168.83 bitcoins, which were worth about 100.000 dollars. In total 5,45 billion RDD were distributed among 386 investors. After the ICO the work really started. Reddcoin needed more promotion and expansion. The hard work clearly pays off. Reddcoin gained a lot of attention last year. More and more realize the many advantages of this coin. First of all, you don’t have to pay transaction costs when sending Reddcoin. This makes it the perfect crypcurrency for small payments.
Payments for social media platforms
It is true that Reddcoin is not the only crypto for digital payments. You can also pay with Bitcoin, Litecoin, Verge and many more. So it’s necessary for a coin to distinghuish itself. Reddcoin succeeds by focusing on social media. The idea behind it is very interesting. If you like something on social media you ‘like’, read’ or ‘upvote’ something. Reddcoin wants to take your likes a step further by providing the possibility to make a micro donation. So if you like a photo or post you can pay a small amount of digital money to show it. In the near future it will also be possible to pay with RDD to get exclusive content.
Your own unique identity
Perhaps you’re a bit confused right now: aren’t there already coins that provide micro payments, such as STEEM? You are correct, because the blockchain platform Steemit already uses this. However, platforms such as Steemit usually work with centralized robots. Reddcoin has decided to do it differently because of the disadvantages of automatic use. Because of the robots administrators might try to influence the distribution of Reddcoin on social media. Reddcoin also has some interesting functionalities, including Redd-ID. This is a popular feature among users, because they can register their own unique identity of the blockhain of Reddcoin. Subsequently, this identity can be used on all the social media platforms that support Reddcoin.
## Value of Reddcoin
There are lot of reasons to invest in Reddcoin. Main reason is the fact that it will have a real use case on social media platforms in the near future. The coin value has risen a lot since 2014. 2017 has been the most succesfull year as until now, when the cryptocurrency hype was at its peak. 1 RDD is still very cheap at the moment. This has to do with the total number of Reddcoins that are available, namely 27 billion. The annual 5 percent inflation in ratio to the market is another reason for the fact that Reddcoins are cheap. However, the value can rise a lot of when RDD will be introduced on important social media platforms. So it’s worth the wait or, as cryptocurrency investors call it, HODL.
How to buy Reddcoin?
Perhaps you really want to buy Reddcoin right now. It could be the best decision of your life. There are several ways to purchase this cryptocurrency. One of the best platforms to do so is Litebit. It’s a user-friendly and safe Dutch website. It offers more than 50 different cryptocurrencies, and Reddcoin is one of them. You can buy or sell this coin on Litebit in just a few minutes. Use one of the several payment options, including iDeal. Good luck with this interesting coin!
Keep your coins in the wallet
Do you think that Reddcoin has a great future? Then you shouldn’t sell it right now, but keep it in your wallet. By doing so, you protect your coins against hackers and other malware. The sad news is that currently there isn’t a Reddcoin hardware wallet available. The good news is that there are certain alternatives. For example, you could use a Dutch platform called Litebit, which creates it’s own wallets. You can use this wallet for your computer and smartphone. Always create a good password that no one can guess and keep it somewhere. By doing so, you make sure that you can get your coins if Reddcoin becomes a part of social media platforms. It could become worth a lot more in the upcoming years, so just forget your RDD and come back later!