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Reddcoin (RDD) aims for the penny mark with its new WebID Wallet launched

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Reddcoin
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Most analysts predicted a bullish momentum in the cryptocurrency, and that is taking place currently as there is an increase in total market capitalization by more than 30% in the past 24 hours. Reddcoin (RDD) is among the coins on the rise as it has doubled its price by 130% (from $0.003 in the past two weeks to $0.007 currently).

From the general point of view, Reddcoin increased in price just like the other coins in the market; but then last week’s announcement could have played a major part in the hike. On Tuesday last week, the company announced the release of ReddCard and ReddPay, which might have triggered the boom as well.

The “big” announcement

On Thursday, last week, the company declared that it has plans in place for launching a WebID wallet for its users. Basically, the wallet will allow easy deposits, access, and sending money to various wallets.

Reddcoin’s design

Reddcoin is designed to be used in social networks and not like social networking itself. Currently, unlike the old times, almost 95% of businesses are inclined to social networks for sales and advertisements.

The reason is simply due to overcrowded social networks; you hardly will find each one around you using Instagram, Facebook, Twitter, and many other networks. Information is smoothly transferred to the general public in an increased way of understanding, thanks to the social media today.

However, many social platforms over the years have faded away due to the lack of incentives — and that’s exactly what led to launching Reddcoin. This social media token will provide a platform linked to all social media platforms, which will give the users a straightforward blockchain solution unlike the general blockchain community where grasping the concept is a big deal for most individuals.

The WebID wallet

Apart from the announcement about its release, there is nothing that has been said yet. Ideally, the wallet will allow fast and quick transactions alongside providing a staking platform. Notwithstanding, staking using the wallet will save large amounts of energy used for mining Bitcoin and other coins.

Indeed, the WebID wallet is a great project for RRD as it aims to hit the $1 mark. Currently, Reddcoin is ranked 77 as per the market capitalization, and from a daily volume of $4 million a day ago; it is now sitting at a daily trading volume of about $60 million. Subsequently, the coin has $28.8 billion in circulation and a market cap of $220 million.

What is more regarding Reddcoin WebID wallet? As of now, it is just an announcement with the date of release yet to be announced. But still, as things are shaping, it seems all positive with Reddcoin ticking towards one penny. Whatever happens, we have got you covered for more updates as they happen.

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

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 Elizabeth via Flickr

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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