ReddCoin (RDD) certainly isn’t the only blockchain-based venture that is bringing cryptocurrency into the world of social media. There’s already Steemit (STEEM), of course, and other altcoins like Social (SCL) that offer social media platforms infused with blockchain technology. The RDD coin, on the other hand, is part of a decentralized payment network that works on our existing popular social media outlets, like Facebook and Twitter.
This technology just adds to the networks we are already used to by making options to send coins to our friends on our favorite platforms – with no transaction fee. Users can literally just send funds to other users by logging on and clicking a button.
ReddCoin (RDD) is a social media feature that will take off
Imagine being able to instantly transfer money to someone through your Twitter account – wouldn’t that be convenient? It is especially efficient if you are already using the social media app: you wouldn’t need to switch applications to make the transfer, as it’s all wrapped up into your typical social media activities.
On top of that, they are working on social media “tips” – it is an alternative to liking someone’s post on Facebook or video on YouTube. You can reward users who post content that you like by tipping them with coins, creating an ecosystem where valuable content is rewarded.
ReddCoin mining is re-worked too
One of the biggest drawbacks of some top crypto coins, like Bitcoin (BTC), is the fact that becoming a miner isn’t very accessible to newbies. People need to have powerful, energy-intensive pieces of hardware to even have a chance to compete with established mining groups. There is a large barrier to entry when it comes to Bitcoin mining.
Just a tease for now, #ReddHeads. Details to come this afternoon on the new #Reddcoin hardware staking option. Take your stake off your PC and off your electric bill with a #solar add-on. #Security and green #efficiency all in one solution.
— Reddcoin (@reddcoin) February 7, 2018
With ReddCoin mining, on the other hand, pretty much anyone can mine. All you have to do is download the ReddCoin wallet and it acts as a node when it stays online. It’s also energy efficient.
This high-potential coin is set to soar in value
You may have already noticed that ReddCoin (RDD) has added 45% to its price tag in the past 24 hours – making it one of today’s top gainers (especially for coins that have a market capitalization higher than $100 million.
The price boost may have something to do with the fact that RDD just got added to UpBit – a popular cryptocurrency exchange based in Korea.
#Reddcoin is now live trading on https://t.co/RxfSmMm2Da in #Korea. #BTC/RDD pairs, #RDD/#KRW live soon. #Cryptocurrency is #global and we welcome all our new #Korean #ReddHeads to the #community. Korean Telegram is at: https://t.co/F2MIRAnI90 #Stake_On! https://t.co/nOEvvLsZVr
— Reddcoin (@reddcoin) February 20, 2018
This coin doesn’t technically have a working product that is linked to Facebook or Twitter – but there is already a Google Chrome extension that offers the same coin-sending functionality. When ReddCoin eventually does get embedded into Facebook, YouTube, and Twitter, you can expect this coin’s price to skyrocket.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.