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The Rising Popularity of Reddcoin as a Social Media Currency

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Reddcoin
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Reddcoin which has been marketed aggressively as the “social currency for the digital age” has emerged as a unique cryptocurrency specializing in transactions on social media. The team behind Reddcoin has designed the currency in a way that it can be transacted across all social media platforms. Reddcoin currently aims to enable 2.8 billion people to carry out transactions smoothly and swiftly.

Reddcoin partners with Reddit

Reddcoin has very recently launched a Q and A session on Reddit. This development will help people to find answers to their numerous queries and quench their thirst for knowledge in various fields. The team behind Reddcoin has not just touted this session as a simple question and answer but has given it a unique branding called “AMA”(Ask Me Anything) through a Reddit official press release.

All crypto projects are in need of such initiatives. All throughout the crypto-sphere, project team leaders and application developers have been reaching out to their followers through their various social media platforms, in order to widen the engagement of the crypto-users as much as possible. The Reddcoin (RDD) team has been requesting its users to upload their queries and questions on the link provided with the Reddit announcement. The answers will be posted on the Reddit platform as well. The team behind Reddit is attempting to get more and more of its users active across several available platforms like Telegram and Slack. The press release also announces a team which will be setting up a public Google hangout which will allow everyone to have constructive interaction with the developers of these projects.it should be noted that the availability of the project’s roadmap might be used to guide the Reddcoin users regarding the questions they might be wanting to pose. The roadmap is partitioned into the conventional short-term (Q1-Q2), medium term (Q3-Q4) and long-term (2019 and after that) goals.

It is a fact that the Reddcoin project has been shelved by its original application development team. The newest team has been committed to the revival of the project. The following have been announced through the recent announcements.

  • In order to ensure that the project does not face any legal hassles, the development team of Reddcoin has formed a Reddcoin Global LLC which is based out of United States and works strictly as a foundation entity. The SEC is attempting to bring cryptocurrencies, ICOs, and other virtual exchanges under strict regulation. Hence it is practical that the team takes the required action in exhibiting advanced amenabilities towards the SEC in case they are closed down over trivial issues. This entity will be equipped to deal with all the global finances that are necessitated by such projects.
  • The Reddcoin team has also restructured the roadmap of this Reddit project.
  • The project has incorporated 4 new members to the team and motivated users of Reddcoin to freely interact with them on the various chat platforms available on social media. These members are all social media moderators and experts in their fields.

Using this background of information, active Reddit users are being repeatedly encouraged to log into Reddit and ask any kind of questions. The thread on Reddit already has received some brilliant insights from its users but one of the most important for any project is the marketing agenda of the project and how the development of the team is working with the goal of bolstering the visibility of Reddcoin as well as strengthening the Reddit project globally.

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The mechanism behind Reddcoin

Like most other cryptocurrencies, Reddcoin works on a digital peer-to-peer network but it is a little more distinctive. The platform of Reddcoin was essentially established to serve the purpose of transferring payment and funds transfer via social media. Reddcoin was designed to function on all social media platforms. This means that people who run and promote their businesses on social media platforms can now receive and transfer funds using whichever platform they want.

The minting process of Reddcoin

Another characteristic that lends uniqueness to Reddcoin over other virtual currencies is that coins on this platform are not mined but minted. The process of minting only necessitates an unlocked wallet containing RDD coins.

Conclusion

Partnering with Reddit is a highly positive step for Reddcoin to gain more momentum in the social media space. This is because most crypto-traders and owners are regular users of social media platforms like Telegram, YouTube, Twitter, and Facebook. The AMA project will help Reddcoin to increase its user base significantly. The assimilation of social media into the payment mechanism of Reddcoin is a fruitful project. The network will keep on expanding owing to the fact any wallet holder who works on a computer can mint Reddcoin. Reddcoin holds immense potential to explode once people start using cryptocurrencies on social media to make transactions.

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 Text100 via Flickr

Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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Altcoins

The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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