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ReddCoin Launches ReddPay.Me for Instant Crypto Transfers

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ReddCoin
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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.

Final Thoughts

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.

We will be updating our subscribers as soon as we know more. For the latest on RDD, sign up below!

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

Blogs

How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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gambling dApps
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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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