What is Reddcoin? And Which Exchanges + Wallets to Use

    1
    3173

    Recommended resources: CoinMama (Buy BTC and ETH) and Ledger Nano S (Hardware wallet).

    Reddcoin is a social currency that was released to the public in 2014. The main objective of this social currency is to enrich people’s social lives and make digital currency easy for the general public. The coin achieves this through integrating a digital currency platform with all major social networks. This makes the process of receiving and sending money fun and rewarding for all the users. Some of the specific technical details of this crypto currency includes that its algorithm is Scrypt and the maximum coins are 109 billion RDD. The block time of the coin is sixty seconds and the block halving rate is 500, 000 blocks. The pre-mine of the coin states that five percent is to be distributed in full to IPCO investors and the difficulty retarget is in a way that every block using Kimoto’s gravity well. The reward per block of the coin is 100, 000 RDD.

    Reddcoin is paced in the same category with Dogecoin since both their economy and ecosystem are mainly driven by the community. One of the primary qualities that make Reddcoin unique is that this crypto currency has a successful IPOC. This particular fund has been used to acquire the right structures and also enhance the marketing campaigns of the currency. In most other crypto currencies the central funding is usually underestimated and neglected. But in this particular currency the fund has been taken seriously and in return has helped a lot in effective development of the currency.

    Another quality that makes Reddcoin unique is that it was created with a clear vision to be the social currency. The design of the currency is professional and it is meant to appeal to real life merchants and businesses. This particular currency is also one of the fastest growing currencies in the crypto currency world. This is proved by the high numbers of people who are talking about it in the various social media platforms. The number of subscribers is also increasing rapidly as more people understand about its benefits over other types of crypto currencies. Furthermore, this currency attracts the top people into the community. Most of the people who are attracted by this currency are serious people who are patient, passionate and hardworking.

    As a way of growing Reddcoin the people who are able to develop are encouraged to join the community. These are the people with special skills and can develop from browser plugins, graphics, bots and websites amongst others. By sharing their work with the other members of the community they are able to increase chances of making more money. These people makes just one percent of the community but their contributions are very important. The fact that such people are members of the community plays an important role of ensuring that everything is inline with the currency’s objective which is to be a social currency. The passive members help a lot when they discuss their cool ideas with the other members of the community.

    Reddcoin can be traded in various exchanges including; Bittrex, Yobit, Cryptopia, Shapeshift, Libebit, Bitsquare, Bluetrade and Gobiw which is Chinese. The various exchanges are helpful because they give the users more options to choose from. Beginners are guided on how to use the various exchanges to be able to trade effectively. The lessons are simple and easy to understand to allow everyone be able to trade effectively. The wallets that one can use include; official Core wallet, mobile wallet and Electrum Clients. One can also use Multicoin wallets which are also known as third party wallets and they include Coinomi which is used on android and Uberpay which is also used on android.

    Some of the primary aspects that the developers of this particular crypto currency have concentrated on include security. The details of the users are kept in a secure way to reduce chances of being affected by cyber crime. The users are able to trade in an anonymous manner without worrying that their private details will be exposed to people who are not supposed to see them. The security measures are still being enhanced further to make sure that they provide ample safety so that the users of the entire system can feel that their needs are being considered.

    The developers of Reddcoin have also been working on speed. The current speed is impressive but it can be further be improved. In fact, this crypto currency has some of the highest speeds in the market. This has allowed people to make transactions in a convenient manner since they can trade in a simpler manner. But the developers of the currency are still working towards increasing the speed to make sure the users enjoy better platforms. The Reddcoin blockchain looks promising at the movement when it comes to speed but it is expected that in future the speed will increase more.

    The developers of Reddcoin have also been working hard to get cloud hosted APIs which are able to deal with complexity and security issues. Some of the issues that are directly affected by this include creation of wallets, making payments and maintaining balance. This gives the developers time and freedom to deal with other aspects such as building 3rd party applications such as online shops and merchant tools. The developers also released more tips bots for various social networks. Furthermore, there is development of financial contracts which allow users to access possibilities such as subscriptions, auctions, escrow and interest bearing debts.

    Even with Reddcoin putting emphasis on all its users it has been concentrating more on its Chinese market. This is attributed to the fact that China is responsible for more than fifty percent of global trading volume of crypto currencies. The country also enjoys a fast developing industry which is able to create a huge market. Reddcoin is working towards creating long term relationships with various Chinese internet companies in different aspects such as infrastructure development and marketing of this crypto currency. The relationship is meant to expand the currency considering that this is the most populous nations in the world. There are some restrictions which the developers are working towards ensuring they do not hinder the relationships. Despite the interest on China the developers are still interested with their other users. In fact, the relationship with China will also enhance the quality of services that the other users get. Therefore, Reddcoin is growing rapidly and it is expected that it will grow even further in the future.

    [currencyprice currency1=”rdd” currency2=”usd,eur,btc” feature=”all”]

    [currencygraph currency1=”rdd” currency2=”usd”]

    1 COMMENT

    Comments are closed.