September 24, 2022

How to Buy Reddcoin in Turkey

A lot of people are usually divided about ReddCoin and other cryptos. Some think they are a bubble, while others think the future in crypto, seeing that many people embrace cryptocurrencies as a form of payment. The latest mania, ReddCoin, on the crypto market due to its crazy instant payment options of sending or receiving RDD across social media, has grasped the attention of many people.

Generally, it’s a peer-to-peer payment system designed to enhance social media payments. RDD is more like a social media coin. Based on its uniqueness from other cryptocurrencies, it justifies how quickly it scaled on the market. Some analysts reiterate that if you buy RDD right now in Turkey, the cost of one coin will be 10 times its price in the next 5-10 years. It has a huge staking potential, leading to overall growth in the long run.

EXMO

This is an exchange platform with the largest currency pairs. It’s a reputable and tight-walled platform for seasoned and advanced traders. You’ll not have access to the trading platform if you don’t pass the verification process. An account holder has to use a passport to prove identity and a bank statement for proof of address.

How to Buy ReddCoin with EXMO in Turkey

Registration and Verifications

Visit the EXMO website to register with the platform to open an account. The verification process involves proof of your identity by uploading a passport, while proof of address will need you to upload a bank statement. After passing successfully, you’ll go to the next step.

Account Deposit

Fund your account with your currency using a bank card situated in the wallet section. Locate the trades section, and input the amount of Bitcoin you’d like to purchase.

Buy and Store ReddCoin

Click on the buy ReddCoin section. You can either use the storage features of the EXMO, or you can move them to a private crypto wallet address. Just input the wallet address to transfer the coins.

It’s simple; once you’re cleared at the verification stage, the next steps are simple, and replenishing the account is quite exceptional. EXMO is suitable for people looking for exchange platforms with high-security levels. 

EXMO Pros

  • Hot and cold storage methods in place
  • Low commissions
  • Simplicity and intuitiveness in trading terminals
  • Many deposits and withdrawal options
  • Through verification system

EXMO Cons

  • No customer service
  • There are no investment or training programs for traders.

Kraken

Another excellent exchange platform to go for is Kraken. It’s one of the oldest exchange platforms in the game with roughly about four million users. The platform was founded in San Francisco in 2011 and was the first Bitcoin platform that displayed market data on the Bloomberg terminal. 

It allows sellers, speculators, buyers, and traders alike to exchange Bitcoins, Litecoin, Ripple, and Ethereum for national currencies like USD, EUR, JPY, and CAD. 

How to Buy ReddCoin on Kraken in Turkey

Open Account

First, you’ll need to register on the Kraken platform with your email address, a username, plus a strong password.

Verification

Users must verify their accounts by uploading the necessary documents. 

Fund Your Account

After passing the verification, the next step is funding the account. Go to the deposit section or the funding tab and follow the instructions.

Buying ReddCoin

Find the trades sections, input the amount of ReddCoin you intend to buy, and confirm the purchase.

Where to Store ReddCoin

There are various ways to store your already-bought coins. It will, however, depend on your trading needs and requirements. If you intend to trade the coins in the trading market, you can safely keep them on the exchange platform. On the other hand, a crypto wallet will suffice if you buy to hold them for the long term.

Kraken Pros

  • Reasonable fees on withdrawals
  • High-level security measures
  • Many cryptocurrency pairs for trade
  • Advanced trading features

Kraken Cons

  • Not beginner-friendly
  • It has a slow account funding process
  • No tax support
  • Customer service is not up to standard in terms of efficiency

Coinmama

This Israeli exchange platform launched in 2013 was designed for users to buy and sell cryptocurrency safely. The exchange platform has more than two million active users and is available in about 180 countries worldwide. With Coinmama, users can buy BTC, ETH, LiteCoin, Bitcoin Cash, Ethereum Classic, Cardano, Qtum, Tezos, and Ripple, among other cryptos using three fiat currencies; namely EUR, USD, and British Pounds. The platform is suitable for novice traders.

How to Buy ReddCoin on Coinmama in Turkey

Registration Process

A user must register into the exchange platform to get an account. You’ll fill in the required fields and hit the register button. After getting access to the platform, a user must verify to buy and sell cryptos.

Choosing the Desired Crypto and Input Your Wallet

Select the crypto you wish to buy and the amount you desire. You’ll then add a private e-wallet address on the platform. 

Payment Option

You have various payment options at your disposal. Choose one that’s convenient for you. They include credit cards, debit cards, and bank transfers.

Buy ReddCoin

The final step is verifying your wallet and purchasing the coins.

Store ReddCoin

You already have the coins; depending on your trading needs, you may want to move them to a private wallet address for long-term storage or keep them on the platform for CFDs trading and futures. You can’t store ReddCoin on Coinmama because it has no storage features.

Coinmama Pros

  • Offers access to 10 cryptocurrency
  • No fees for withdrawals and deposits
  • Wide range of payment options

Coinmama Cons

  • It doesn’t allow crypto to crypto transactions
  • No wallet or mobile app
  • Higher commissions than other platforms

OKCOIN

This Chinese platform helps users buy, sell, and store cryptos. It allows users to trade between cryptos and USD. The traded cryptos include; Bitcoin Cash, Ethereum Classic, Ethereum, Bitcoin, and LiteCoin. Its unique features of reliability and top-notch security levels make OKCOIN a wider active user base, reaching more than 180 countries worldwide. The good thing about this exchange platform is that it is free of charge when it comes to withdrawing RDD. Moreover, it is a convenient exchange platform as users can use it on their phones or PCs. You can easily download the platform on the Google Play Store or the App Store.

How to Buy ReddCoin on OKCOIN in Turkey

Register

First, you’ll need to register with OKCOIN. Visit its website, and you’ll see a register section that needs you to fill in all the relevant fields.

Verification

Before accessing the account, you’ll need to pass through the verification process where you must upload relevant documents to prove your identity and address.

Funding

After passing a two-step verification process, you can now fund the platform. Top up by inputting the amount you need for the purchase. The process can take up to three days.

Searching for ReddCoin

Once you’ve deposited funds, you’ll visit the trades section to locate ReddCoin.

Buy ReddCoin

When you find it, you can input the amount of RDD and the money required. Lastly, hit the buy section.

Storage

You can store your already bought ReddCoin on your private wallet address as online exchange platforms are not as safe as you may think. Input your private wallet and move your coins.

OKCOIN Pros

  • Futures and margins trading are available
  • Competitive low trading fees
  • Above-par liquidity
  • Advanced features

OKCOIN Cons

  • BTC trading volume artificially inflated
  • No MetaTrader platforms
  • Less tradable cryptocurrency assets

CEX.IO

This is another exchange platform that can easily help you buy RDD in Turkey. It is a multifunctional cryptocurrency exchange. CEX.IO was launched in 2013 when it started working as a cloud mining service.

People who want to buy ReddCoin in Turkey must use a MasterCard or Visa. It has put up special safety protocols to ensure users have a safe place to trade – as there are instances where a user must tick the cancel button through multiple windows to cancel a two-factor authentication process.

How to Buy ReddCoin on CEX.IO in Turkey

Registration

To start buying or selling on CEX.IO, you must register with the platform. Visit its website and find the register section, fill out the required field and submit for verification.

Two-Step Verification Process

As stated earlier, the platform has an air-tight security system in place. It works on the basics of KYC. Therefore, users trying to have access to the platform must verify their information.

Funding

Since it uses cards for deposits, you’ll visit the cards section on the platform. Follow the instructions to top up the account with either your MasterCard or Visa.

Searching and Buying ReddCoin

Afterward, visit the trades section and select the amount of Bitcoin you intend to buy. You can then press the buy button. With the Bitcoins already in your wallet, you can exchange them for ReddCoin.

Storing ReddCoin

You can leave the coin on the CEX.IO platform as it has storage features, but this is for a short time as many exchange platforms are vulnerable to hacks, even when it has state-of-the-art safety measures in place. Use a private wallet or ledger to store ReddCoin, depending on your trading goal.

CEX.IO Pros

  • Good levels of security measures
  • Simple, intuitive interface
  • Unlimited withdrawals
  • Many trading volumes
  • Mobile apps
  • Multiple payment options

CEX.IO Cons

  • Relatively high commissions
  • Limited currencies supported
  • Customer support is not efficient
  • No advanced order types

Conclusion

The cryptocurrency market is highly risky as most exchange platforms are not regulated. Therefore, traders must conduct extensive research and do their due diligence so that they can pinpoint the best exchange platform to go for in Turkey. It ensures you’re working with a legitimate platform.