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Is Now the Right Time to Invest in ReddCoin (RDD)?

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ReddCoin

ReddCoin (RDD), like many crypto coins, is recovering from the bearish trend ‘steadily’ of the first quarter of 2018. At the time of writing, according to coinmarketcap.com, the price of RDD shows $0.009 USD (7.38%) approximately and the market cap is nearly $262,139,124 USD (as of 30th April 2018). Compared to the end of March when the price was in the range of $0.0041 approximately, there has been a rise of almost 130% within one month. From this increase, it can be quite safely said that ReddCoin (RDD) is on a bull run.

A Little about ReddCoin (RDD):

Accessing information on the internet still has some barriers while transmitting data to a large population. The developers of ReddCoin provides a solution by developing a social currency platform and then connecting it to the rest of the social media channels. The objective of ReddCoin is to make social media platforms also a source of income for the users as they post unique content. It thus results in an amalgamation of business and social media. The users can also use RDD for regular transactions through the social media network. The team of ReddCoin is currently focused on creating Redd-IDs for the users. The users will be a unique username and they will also have public keys and social network identities.

The Appearance of WebID Wallet:

On 18th April 2018, ReddCoin had announced on their Twitter account and YouTube about the upcoming launch of WebID Wallet. The announcement also stated that it is better to invest in RDD as it is much lower transaction fees compared to Bitcoin (BTC) and Bitcoin Cash (BCH). With WebID Wallet, the users will be able to access, deposit and transmit money to other wallets. The transactions done through this wallet will be confirmed instantaneously as the wallet consumes a significantly low amount of energy. Bitcoin, on the other hand, consumes considerably higher amounts of energy. The development team of ReddCoin assures that the wallet will vouch for faster and quicker transactions and will also provide a staking platform. The staking actually conserves a considerable amount of energy that is usually used up during the mining process of other crypto coins.

Introducing ReddPay.Me:

With the help of ReddPay.Me the users can process transactions within a remarkably short time between two email addresses. The best thing that the ReddCoin team came up with in this case is that the users do not need to register to make one transaction from one email address to another. However, this does not mean that there is any compromise on security. ReddCoin assures that all the transactions done through ReddPay.Me are secure, economical as well as extremely fast. Another major benefit is that the transaction cost is merely 2%, a meager percent compared to the transfer charges applied by other payment processors. The user can simply click on the “Send Money” option on the ReddPay.Me website and then insert the amount they would like to transfer. They can also transfer fiat money using this process. They just need to fill out the sender and recipient email addresses and other relevant information.

Other than these two recent developments in the network of ReddCoin, the structure of the network is worth investing. The proof of work algorithm utilizes CPUs, GPUs and specialized mining equipment to solve the puzzle and thus, confirm the transactions. The recent developments in the ReddCoin network may bring on new partnerships and also improve the rank from the current position of 78, according to coinmarketcap.com.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of www.tradingacademy.com

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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