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Our Top Two Social Cryptos Right Now Are Steem (STEEM) And ReddCoin (RDD)

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This week, Facebook reported that it was set to ban cryptocurrency advertisements. The move reportedly comes as a response to the large number of so-called scam-coins and malicious ICOs being promoted through the platform. While there is no doubt plenty of the sort of activity that Facebook doesn’t want to allow happening through its platform, the move seems a little over-reactive.

Anyway, in the wake of the development, we thought we’d take the opportunity to pick out our two favorite social coins on the market.

So, here goes.

First up, Steem (STEEM).

This one is one that many reading will likely already be familiar with but, for those that aren’t, STEEM is the coin that underpins the Steemit ecosystem. Steemit is a social media platform/network through which users can create and share content (usually rooted in the cryptocurrency space, but that’s more through industry and user interest bias than it is anything to do with the platform’s policy or anything) and other users can reward the content creators using cryptocurrency.

STEEM Daily Chart

STEEM Daily Chart

Steemit has expanded it one of the most popular social networks in the space over the last twelve months and it’s becoming the network of choice for people in all areas of crypto and the wider tech space but, in the wake of the wider industry decline that’s hit the markets over the last couple of weeks, STEEM tokens have failed to match the growth of the underlying platform.

And that’s the primary reason for STEEM’s addition to this list – the coin is down while the platform is booming, suggesting there’s a divergence play between price and fundamentals on offer as things stand.

Right now, STEEM trades for bang on $5.00 a piece, securing a ranking of number 25 by market cap (which sits at $1.23 billion at that price). The coin is down a little over 2% during the last twenty-four hours (which, in the grand scheme of things, isn’t that bad) and logged volume of more than $89 million since this time yesterday (which illustrates the fact that this one is being used on the platform, even though the market is down).

The next major target for STEEM, once things start to pick up again in the space, is early January highs in and around $7.28.

Next up, ReddCoin (RDD).

This one is sort of the opposite of STEEM in that it’s a coin designed for utility as a value transaction token on social media platforms but it’s not limited to just one – it’s set up to cover pretty much any type of platform or network that could benefit from peer to peer value transfer.

RDD Daily Chart

RDD Daily Chart

The coin has a great staking mechanism which incentivizes holding and, while it’s not yet as widespread as something like STEEM, it’s got the potential to be much larger if and when it takes a hold of the market it’s going after.

Right now, RDD goes for just $0.008 a piece, way down on the $0.026 per coin that RDD was trading at during the early January market highs.

In this regard, there’s probably more of a near-term upside potential on the coin as compares to STEEM (market cap sits at $257 million using current metrics, down from $765 million on January 7) but, given the current growth of Steemit as a platform, there’s considerably more risk tied into a ReddCoin position right now.

We will be updating our subscribers as soon as we know more. For the latest on STEEM and 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. 


Image courtesy of Jason Howie via Flickr

 

Bitcoin

Is Bex500 an alternative to BitMEX?

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An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

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Bitcoin

How Bitcoin Has Changed Online Gaming

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We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.

While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.

Bitcoin’s impact on online gaming

The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.

Bitcoin brings security and anonymity

Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It…

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Bitcoin

The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

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Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

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