The chief goal of Reddcoin (RDD) is to become the epitome of cryptocurrency use on social media platforms for transactions such as tipping and other microtransactions. The current low value of the coin and the high supply means that it is ideal for the earlier mentioned micro-transactions. RDD is currently valued at $0.0067. The circulating supply is the entire total supply of 28.808 Billion RDD. There is no RDD locked up in escrow as is the case with XRP.
Reddcoin can so far be used to tip on Telegram, Twitter, and Reddit. The tipping is usually done when one member makes a noteworthy contribution to a discussion. This, in turn, promotes discussions with substance and a platform where ideas are shared.
But why say Reddcoin is dead?
Answer: The entry of other cryptocurrencies you can tip with on social media.
There are more cryptocurrency projects realizing the potential in having crypto being used on social media platforms.
Ripple (XRP): Any member of the XRP and Ripple SubReddit communities, has been tipped or has tipped a fellow Rippler on the platform. There is an XRP tip bot that can be utilized. Further instructions on how to use the tip bot can be found on the XRP Tip Bot Website.
Nano (NANO): Twitter has a Nano Tip bot that can be used to tip fellow Twitter members on its platform.
Bitcoin Cash (BCH): The tipping aspect of BCH is not active yet since the lowest amount of BCH that you can send is 546 Satoshi. However, CoinGeek and nChain are joining the ‘Miner’s Choice’ initiative to allow miners to have the freedom to determine if they can offer free transactions and also to lower the sending limit to 0.00000001 BCH. This means that BCH can soon be used for tipping since the transactions levels have been lowered and free transactions will also become a reality.
What next for Reddcoin if it is to fight off the competition?
The next move for Reddcoin, its team members, and fans, is simply to market the coin harder and promote its adoption in the currently available platforms of Reddit, Telegram, and Twitter. More crypto enthusiasts need to be made aware of the brilliant qualities available on Reddcoin such as the RDD ID that will allow the seamless use of your Reddcoin identity on all social media platforms. You can then tip from this one ID or even send microtransactions using ti. This will indeed be the game changer for the Reddcoin project moving forward.
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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.
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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
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