Redd Coin Making its Way into Cryptocurrency Market

ReddCoin launched earlier in April and claims that they are dedicated to one thing, and that’s tipping on social networks as a way to bring cryptocurrency awareness to the general public.

There isn’t much advertising for the coin, in fact one blogger writes how he just stumbled upon it.

“I have been mining since last Thursday, and have earned almost 500,000 coins already,” he wrote.  “And because I like the concept of this coin I am also one of the highest donators to my pool. These donations not only help keep the pool going, but also allow them to continue developing towards the new social coin.”

The company claims that it makes it easy for people and businesses to auto-tip people, re-posts, etc. Users can then use their ReddCoins on websites to purchase items or use them in games like Freemium games which have in-game credits that you purchase, but you can use ReddCoins instead.

“This would benefit businesses, developers, & users. If you buy credits in-game, you’re stuck to using them only in that game,” the company stated on its site. “Instead, if you have ReddCoins, you can use them elsewhere which would make you more positive about spending money in a game since you can easily move it.”

To purchase ReddCoins, you must first purchase BitCoins from an exchange that offers direct fiat to BitCoin conversions such as CoinBase or BitStamp.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.