Redcoin

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Redcoin
[ CoinMarketCap]
[ Website]
Launched: {{{launch-date}}}
Source Code: {{{sourcecode-url}}}
Exchanges: Cryptopia

Even though cryptocurrencies have become so famous lately not everyone exactly knows how to get into it. Although a lot of people want to, but they just do not know where to start from, Redcoin aims to fill this gap by injecting an excellent system of cryptocurrency into the social media world. The people using it powers Redcoin, and its most important aim is to create awareness of cryptocurrency through the giant social media platforms like Facebook and Instagram. This if successful will make the process of transferring coins very simple and exciting.

The features of Redcoin

Redcoin plans on becoming a social cryptocurrency which will be used on all or at least most of the significant social media and gaming platforms. The founders claim that they are developing a platform which will organize and manage various tipping accounts on Facebook, Instagram, Twitter, YouTube, and Twitch. They plan on making Redcoin a standard cryptocurrency for social media tipping or for using it as a reward, and it will be the tokens for internet with real monetary value. This has already been implemented on Twitch, Twitter, Reddit, and Justin.tv, and this will help businesses and individuals to reward users for re posts, etc. Then once the receiver earns the Redcoin he or she can use that and buy real products from other platforms or websites, it can also be used on gaming platforms to purchase various add-ons, etc. So traditionally if you are buying game credits all you can do is use it on that specific platform however with Redcoin, you will be able to transfer it to any other platform. If all goes as planned, the future can be something like an average user getting tipped for a picture upload on Instagram, Facebook, and Twitter or getting tipped on YouTube for a video. Now not only will you earn these points once you have enough of them you will be able to buy actual physical goods using these coins. In short, it is like you will be getting paid for the usual things you do in your everyday life. Redcoin uses the Proof of stake algorithm which means less environmental damage and less energy required or as some critics say wasted. It has its own wallet which increases the use of it or the engagement of it amongst workers, and it also helps secure the decentralized network. The micro-donation or tipping feature will help support content creators or developers on social media platforms. Redcoin has gained enough attention to be covered by the press. "By focusing on being a currency for social networking, Reddcoin will, most likely, become the currency for these systems, and thus the currency for the microtransactions they power," says Dustin O Bryant. Yahoo News also covered Redcoin, "Reddcoin as a cryptocurrency allows an easy and reliable way to send money between friends and followers alike."

Redcoin has a market cap of over $400,000 which is not a lot in the cryptocurrency world, but it has just started. And if it becomes successful or manages to achieve its goals, then it could be a long play, but like all cryptocurrencies, there is always some risk involved no matter how good the idea of the currency is.