ReddCoin, which features among the top hundred altcoins, was introduced with the aim of bringing cryptocurrency to the masses. Also regarded as “the social currency”, ReddCoin is well-known for its unique approach to social media. This social currency which has created a lot of buzz among the traders, both newcomers and seasoned traders, has come a long way since its inception about four years ago.
Although ReddCoin (RDD) hasn’t been in the spotlight for a long period of time, it surged during the end of 2017, as RDD’s price soared from $0.001 to $0.026 in just a few weeks. As most traders are aware of, the entire crypto market is recovering from a price slump, and ReddCoin is no exception. ReddCoin, which boomed a few months ago, is in the red, with its price dropping by 3.77%. While the downward trend might come across as a cause of concern for many, it is unlikely to be a threat to the currency. In fact, it has created quite a bustle in the market with the launch of ReddPay.Me, a unique payment processor which allows users to transfer cryptocurrency.
What is ReddPay.Me?
ReddPay.Me, the payment processor launched by the ReddCoin team, enables users to make transaction instantly between two email addresses. Discernibly, this system has made the transfer process incredibly simple since it doesn’t require any registration. Conveniently enough, all transactions with ReddCoin are fast, secure and economical. What’s more, the transfer charges are lower than other payment processors, as the cost is only 2%.
How Does the ReddPay.Me System Work?
The system makes the process of crypto transfers exceedingly simple. An investor looking to transfer coins to ReddCoin will need to follow a few important steps. The steps to make transfers are discussed in the following steps:
- To begin with, the user needs to click on the Send Money option on the ReddPay.Me website.
- Decide how much money in fiat currency you would like to transfer.
- Move on to the “To Whom” section and fill in the details; add the name of the recipient, email id, and other relevant information.
- Make the deposit on the desired address with the transfer amount.
After making the deposit, the recipient will receive notification of the transfer in an email. Apart from the verification notice, the credit recipient will also receive a public key of the address. The person in question will be able to import the private key into his/her Reddcoin Core Wallet. Much to the traders’ convenience, all the security notices on the transfer of funds are made available to the user during the operation.
ReddCoin’s Other Tools for Cryptocurrency Transfer
ReddCoin has always been closely associated with the public and the social networks. With the launch of the new system, the newcomers, who have little experience in cryptocurrency, can make transactions easily and receive credits in RDD. Earlier, ReddCoin has provided its users with similar cryptocurrency transfer tools.
- ReddCoin and Telegram: For Telegram users, there is @ReddCoin_bot which can be used in any telegram group to transfer funds between two people. Depositing funds on Telegram is notoriously easy, as it involves simple commands.
- ReddCoin and Twitter: Investors can follow ReddCoin on twitter at @tipreddcoin, and use them in Telegram to make transactions in RDD. Also, users can deposit, withdraw RDD through private messages via the bot.
- ReddCoin and Reddit: ReddCoin investors can carry out transactions between two Reddit accounts.
Given the fact RDD is experiencing a steady downtrend; it is hard to make a forecast of RDD’s price. However, as evident from the market trends, the price of the currency might continue to dive in the bearish market. The recent launch of ReddPay.Me processor is likely to boost its market response, as it has already created quite a bustle among the crypto community. At any rate, as the social media’s favorite currency, RDD is all set to surprise its users with exciting updates and is here to stay on the list of the most promising altcoins.
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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 Carlos Garcia Torrado via Flickr