Buying Reddcoin and Storing it for future
Reddcoin started with a price of $0.000035, and touched $0.02 in 2017. As of early 2018, Reddcoin Price is somewhere around $0.014. Users can buy Reddcoin (RDD) using either the traditional currency. Or by converting Ether (ETH) into Reddcoin (RDD) on any exchange. Reddcoin has a support of major exchanges like Coinbase
, Bitfinex, Binance
, Bittrex etc. And you can also buy Reddcoin at your country's local exchange, if it supports it.
Reddcoin can be stored either in the online Reddcoin exchange where you bought it, but it is not recommended due to many reasons. One of the major reasons is - hacking. Offline Reddcoin wallets are better to store it for long-term. One of the most common wallets is Reddwallet, which has the support of the Reddcoin community itself. This wallet has a strong back-up from PoSV algorithm that provides scalability and speed to your transactions. You can download this wallet from their official website
, and they have given separate executable files for different systems like Windows 32, Windows 64, Mac, Linux etc.
Reddcoin Hardware Wallets like Trezor
and Ledger S Nano are also popular choices among crypto-fans to store their currencies for long-term. To store the cryptocurrencies for short-term, there are many options. But for long-term, hard wallets or paper wallets are the first choice. They might require a small investment initially, but they are worth the price with the security features they provide.
Future Plans of Reddcoin (RDD)
In future, Reddcoin community is planning to launch two wallets - QT wallet, or Reddcoin (RDD) wallet, which can run a full node is already there. Another wallet known as Thin wallet, is already in the pipeline. This wallet will be a portable, mobile wallet that can run on iOS and Android both. They will use the mechanism of the popular offline wallet - Electrum. The thin wallet will require the users to only download 25M worth of data. Instead of going full-node and downloading 700M, this will solve the problem of blockchain size. The private keys generated in all Reddcoin wallets will be deterministic in nature. The users will only need to remember a passphrase, and that's all.
Reddcoin is always parallel to Steem in comparison, because of the social media linkage, but both differ significantly from each other. The future plans of Reddcoin seem to be lucrative enough to attract investors. The expectations are high from the cryptocurrency market, and as the technology is evolving, many promising currencies are sure to grow. Reddcoin might also be one of them!