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Is Reddcoin (RDD) Dead?

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Reddcoin

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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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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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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