ReddCoin is one of the oldest cryptocurrencies designed for use on social media platforms.
What is ReddCoin (RDD)?
ReddCoin (RDD), which emerged in 2014, is one of the oldest cryptocurrencies. YouTube, Facebook, Twitter etc. It is a decentralized cryptocurrency developed for use on social media platforms such as Seen as the social currency for the digital age, ReddCoin allows sharing, tipping and donations on social media platforms. ReddCoin (RDD) runs on a legacy decentralized blockchain called ReddNetwork.
The scalability issue is still on the agenda despite all the new designs. In addition, it aims to make ReddCoin fast and cheap with its new developments. ReddCoin’s goal is to turn social media likes into a profit. It enables content creators and designers to monetize their participation in a decentralized environment. Thus, it aims to strengthen the decentralized Web 3.0 content ecosystem.
The goal of the project is to develop a cryptocurrency that will allow people to send and receive money faster. This has been one of the purposes for creating ReddCoin. RDD is one of the main digital social currencies developed to meet specific needs when people interact via social media. The ReddCoin project has also developed a tool called ReddShare. ReddShare enables creators to encourage sharing through monetary rewards.
What Is ReddCoin (RDD) Used For?
ReddCoin is ReddNetwork’s native cryptocurrency. Use cases also consist of several types. The first use case is to ensure decentralization. ReddCoin (RDD) gives its holders the right to participate and vote in platform management.
Another use case is for use as payment. When an artist or creator is tipped, it is done in ReddCoins. Creators or artists receive revenues from ReddNetwork with ReddCoin.
The end use case is staking. ReddCoin is traded as a stakeable altcoin. The security of the network is provided by the PoS mechanism. For this reason, users with ReddCoin can lock their assets with a certain maturity. It also earns additional RDD rewards at maturity.
How And Where To Buy ReddCoin (RDD)?
Although the team that developed ReddCoin is unknown, they aimed to work on enabling more social media platforms. Reddcoin is a crypto currency with no centralized system, originally established for use on social media platforms such as Facebook, Twitter, Youtube and Twitch. Its purpose is to facilitate, accelerate and make effective the acceptance of the purchase of money in social networks. When a Facebook post is liked a lot (with 0% transaction fee), the lucky user who owns the post can be tipped with Reddcoin. This encourages people to create good quality content for social media platforms.
RDD Coin is not currently traded on major cryptocurrency exchanges. It is only listed on cryptocurrency exchanges such as YoBit, Bittrex, StakeCube. Investors who want to buy ReddCoin must first become a member of one of these exchanges. After the membership process and account creation process, identity verification must be performed. After the verification processes are completed, the desired amount of ReddCoins can be purchased on the trading page. Received ReddCoins can be stored in secure wallets or used in transactions.
