ReddCoin (RDD) is giving back part of the gains it made this month as profit takers are stepping in. As on April 19th, the price of currency stood at $0.0082. It was a mind-blowing mark as it led to a 130% increase from its price of $0.0041 recorded at the end of March. Launching of products and simplifying the way people use social media was also a factor in its price doubling.
The launch of a WebID wallet
ReddCoin is set to launch a new wallet. The wallet makes processes such as accessing, depositing and sending money to other wallets. Transactions will also be instant, and users will be able to stake their RDD coins through the wallet. The wallet uses less amount of energy when staking compared to Bitcoin which consumes large amounts of energy. The digital currency released the official statement on Twitter and YouTube. On Twitter, this was what they had to say,
“Coming soon, #ReddHeads, the #webID #cryptowallet! Why ReddCoin? Don’t pay high #fees and waste energy with #BTC or #BCH! #ReddCoin #staking rewards you with #RDD for securing the network without pointless #mining. Get your #Redd today and #Stake_on!”
The launch of the web wallet also paved the way for a new project known as ReddCoin Poker. It is a community project that is ideal for players who play poker. The ReddCoin Poker game allows the poker players to play with other players around the world while still earning ReddCoins.
The launch of ReddCard and ReddPay
The purpose of launching these two products is to make the transfer of payments fast and easy. Users can also transfer RDD coins easily. The products will also facilitate instant sending of RDD coins via the mobile wallets.
Simplifying social media
With the invention of the internet, accessing of information become easy. However, there are still barriers, especially when sending data to a large population. ReddCoin is providing a resolution to this by designing a social currency platform and linking it to all other social media channels.
The future of ReddCoin
The coin is down to $0.0077 after soaring to new heights each day. The recent advancements still place the coin in an ideal position of topping many other altcoins in the crypto sector. The recent statements also gave the currency a massive boost, and its trading volume soared to $25 million today compared to below 10 million in the recent past. ReddCoin is also revolutionizing social media by providing users with an excellent solution for simplifying how they transfer information to a significant population via social media. Social media channels carry a lot of users; therefore, by ReddCoin using its technology to simplify social media, it’s more likely to gain popularity in the market. It translates to a valuable gain in their trading value. The release of their Pay and Card products also plays a huge role in increasing ReddCoin adoption to the crypto market. Simplifying processes such as depositing and sending of other digital currencies to other wallets also places the coin in a suitable position of leading the pack of altcoins in the crypto sector.