There are many different cryptos that people can purchase for their portfolio when it comes to cryptocurrency. One of the digital coins that are becoming very popular is Reddcoin. It has many people talking, so more investors are learning about whether they want to buy it. However, it can be tricky to find one purchasing guide that everyone can use.
This post will help you figure out how to buy Reddcoin, so you don’t need to worry anymore.
Contents
- 1 The Beginners’ Guide to Buying Reddcoin in 2022
- 2 What Is Reddcoin (RDD)?
- 3 The Whole History of Reddcoin
- 4 How Much Is Reddcoin Right Now in 2022?
- 5 What Do You Need to Buy Reddcoin Right Now?
- 6 How Do You Trade Reddcoin?
- 7 Reddcoin Buying Methods
- 8 Buy Reddcoin with PayPal
- 9 Buy Reddcoin with a Credit Card or Debit Card
- 10 Advantages & Tips of Buying Reddcoin with a Debit or Credit Card
- 11 Reddcoin Forecast
- 12 Conclusion
- 13 Related articles:
The Beginners’ Guide to Buying Reddcoin in 2022
What Is Reddcoin (RDD)?
Reddcoin is a cryptocurrency that allows people to send or receive RDD instantly. RDD is the platform’s native currency, which can be sent across social media platforms. Peers use it to send payments to each other, which has led many people to think of it as a social media coin.
Another reason people use Reddcoin is that it makes it easier for users to make social media payments without the need for transaction fees. This allows many people to make their payments conveniently and affordably, so everyone can enjoy the benefits. If Reddcoin were to be compared to something already in existence, people would say that it is the blockchain version of Venmo, Facebook Cash, and Snapcash.
However, Reddcoin does differ from the others because it can be hooked up to other platforms like Twitter and Reddit. This makes it stand out compared to the other applications because they can only be used with their respective platform. Also, Reddcoin allows users to give tips to content creators instead of just giving them a thumbs up.
The Whole History of Reddcoin
Reddcoin was announced on January 20th, 2014, and its goal was to become a fully integrated cryptocurrency in social media. It was later released on February 2nd, 2014 after the company received $100,000 to get it started. The money given to them meant that 5.45 billion Reddcoins could then be released and assigned to investors.
In the early days of Reddcoin, the first mascot was a red alien, but there was a design competition within the community to help choose the new logo. After lots of votes, the new logo was picked – which looks like a piggy bank with a red coin being placed at the top. The colors chosen for this design also have a deep meaning. The company picked red, yellow, orange, blue, and green because they represent the most popular social media platforms.
When it comes to the logo, that was also changed. At first, the logo was “The Coin of the Internet,” but it was later changed to “The Social Currency.”
How Much Is Reddcoin Right Now in 2022?
At the time of writing this, Reddcoin is at 0.00078 USD. It has been declining in price over the past week. Over seven days, it fell by 20.79%, and 6.67% of that was in the past 24 hours.
What Do You Need to Buy Reddcoin Right Now?
Here Is a Quick Guide to Buying Reddcoin
When you want to buy Reddcoin, you want to make sure you do so from a reputable site. Otherwise, you may end up losing your money. There are many websites to choose from, but one of the most reputable ones is eToro.
You Need to Make Decisions
One of the reasons why people use eToro is because it is a legitimate program that helps investors get the cryptocurrency they want for their portfolios. Diversifying a portfolio will benefit from ensuring that investors have a wide range of coins to work with.
Now, after you have decided on a site like eToro, you can get started with making your account. The first thing you have to do is click the ‘Join Now’ button. There will be a form that needs to be filled out on the next page, but all of the required personal information is simple. People can also connect their Facebook or Google accounts to eToro if they want an easier time with their account creation.
Afterward, it is important that every user has a look at the Terms and Conditions before submitting their information for review. Once all boxes have been ticked and the information is correct, the form can be sent off by clicking the ‘sign-up’ button.
Verify Your Account
Once the account has been verified by eToro, an email will be sent to the user for verification. Click on the link, and it will take you back to the website. This is where eToro does ask for a confirmation of residence and a form of identification. eToro does this because it follows strict rules with the European parliament.
Make That Purchase
Users will be able to either buy a full Reddcoin or part of one, but many people will purchase multiple since it is cheap to buy.
Think About Wallets
Like many other cryptocurrencies, people will need to think about their wallets to use them to keep their Reddcoin. Luckily, there are many different options available online because of how popular cryptocurrency is. People don’t want to leave their crypto on an exchange website because that is the riskiest place to keep it.
Also, people need to think about whether they want a mobile wallet or a desktop wallet. A mobile wallet is very safe and convenient for people who are always on the move and need to have their cryptocurrency available on the go. However, having cryptocurrency safe on a desktop is one of the best options, but it isn’t very convenient. That is why people need to think about which wallet they want to use.
How Do You Trade Reddcoin?
When it comes to trading with Reddcoin, many people use broker websites. However, there are also options like eToro where people can make online trades with this brokerage. After creating an account, people will be able to use eToro to complete any trades that they want with Reddcoin.
Step 1 – Finding a Broker
There are many broker options that people can use for their trading. However, many people like to use sites like eToro for any trading because it is the leading online brokerage for cryptocurrency and stock trading. However, another good option that people can use is Interactive Brokers – another program with the same bells and whistles as eToro, but some people trust it more.
Step 2 – Fund your account
Once you have picked which broker you want to use, money must be deposited. However, it is always best to research the cryptocurrency before taking this step to know how much money you should put into the market. There are also people to speak with on websites like eToro and Interactive Brokers.
These licensed and registered brokers can give out cryptocurrency advice, so investors are not alone. This is an essential step for all investors, but it is essential for beginners. It can be daunting to think about trading and how much money needs to be deposited but getting professional advice can help.
Step 3 – Begin trading
Once the money has gone into the account, it is time to trade. Remember to conduct your research and ask questions before you begin trading. Also, check if the platform you are using has a demo account.
Many programs have a demo account available, and this is because it is a safe space for investors to go in and learn about the program without the risk. Also, people will be able to practice different trades they want to do before trying on the live market. Otherwise, people can just get started with their trading.
Reddcoin Buying Methods
When it comes to buying Reddcoin with different methods, it can be challenging to find one broker that does allow people to purchase both ways below.
Buy Reddcoin with PayPal
There are not many platforms that allow people to use PayPal, but eToro is one. The program has been made to work seamlessly with various payment processes, so more people have access to the different cryptocurrencies out there.
To buy Reddcoin with PayPal through eToro, people must create an account with eToro and select Reddcoin from the search bar. They will then be given two options: trade or order.
Trade means that the investor can buy a specific amount of Reddcoin at the current price. Order means that the investor can set a price that they are willing to spend on Reddcoin, and when the coin hits that number, the transaction will automatically go through. Once people have decided, they can then look at purchasing their Reddcoin with PayPal.
All the investors will need to attach their PayPal account to eToro and complete the transaction. It is as easy as that! However, there is a withdrawal fee of $5 when people are ready to take their money out of their accounts. Also, there needs to be a minimum of $30 being taken out of the account for the withdrawal process to happen.
Buy Reddcoin with a Credit Card or Debit Card
If buying Reddcoin with either a credit or debit card is more desirable, this can also happen with eToro. Investors will need to sign in to their account and link their chosen card to their account to transfer their funds over. However, before completing this, there will be another verification process that needs to be completed.
Afterward, people will be able to just click on Reddcoin and complete the purchase with ease.
Advantages & Tips of Buying Reddcoin with a Debit or Credit Card
One of the reasons people like to use their debit or credit card for cryptocurrency investments is because they can purchase their desired amount right there with the money they already possess with their debit card. Alternatively, they can buy the amount they want with a credit card money they do not already have. This makes it more convenient for all investors who want to get into the cryptocurrency market.
However, before completing any purchase with a credit card, people should be aware that many issuing companies charge a transaction fee, so you need to check that out yourself. This is important to look into because the company will take some of the profits away as a reward for allowing users to use the card. Also, people who buy cryptocurrency with a credit card will need to pay the balance off when the bill comes in; otherwise, they may ruin their credit score.
Reddcoin Forecast
Right now, Reddcoin is going on a decline in value, but many cryptocurrencies are. The market is very volatile, so it is to be expected. However, many reports say that Reddcoin will go up in value, but that will be in a few years. If investors think that Reddcoin will have a big jump upward this year, they will be sadly mistaken.
The predictions are saying that there is going to be a small jump by the end of 2022, but people will see a dramatic increase within the next couple of years. However, it is essential that every investor does their research on the forecast of Reddcoin because it may change dramatically with the market.
Conclusion
Reddcoin is a cryptocurrency that many people are watching because of the current surge of being able to complete transactions through social media. However, people will need to make sure that they use a reputable website like eToro or Interactive Brokers when they want to complete these trades. This is because investors should make sure that they are not being scammed.
Also, investors should only put in the amount of money they can afford to lose because the cryptocurrency market is very volatile. The last thing anyone wants is an investor to put in money they cannot afford to lose because of a recent trend on the internet. Instead, every investor should do their research on cryptocurrency trends and ask professionals for their advice on the matter.
Related articles:
How to Buy Reddcoin in Australia
How to Buy Reddcoin in Turkey
How to Buy ReddCoin in Vietnam
AllIn1Bitcoins works diligently to offer impartial and trustworthy data on cryptocurrency, finance, trading, and stocks. Nonetheless, we are unable to furnish financial counsel and encourage users to undertake their own inquiries and due diligence.
