Is Reddcoin a good investment in 2021?

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Is Reddcoin a good investment in 2021?

Reddcoin is a decentralized cryptocurrency that serves as a digital peer-to-peer medium of exchange with no central authority issuing or regulating it. It was launched in 2014, a year most consider as the peak of cryptocurrency creation and blockchain technology. There is a total supply of 28 billion with a circulating supply of the same amount. Reddcoin has a market capitalization of $43 million.

Reddcoin which is also known as RDD can be earned through the Proof-of-Stake-Velocity (PoSV) algorithm. This is a unique algorithm that allows RDD holders to stake their assets on Reddcoin Wallet to earn rewards. This article talks a lot more about Reddcoin as a cryptocurrency and answers the question “Is Reddcoin a good investment?”.

What Is Reddcoin?

Reddcoin (RDD) is a type of digital currency that is designed for making tip payments and other micro-payments on social media platforms like Twitter, Facebook, etc. The developers that came up with this cryptocurrency wanted a digital coin that will allow users to send and receive money quickly and easily using the Redd Network. This cryptocurrency supports a volunteer-run organization and a social tipping platform that allow users to donate, support, and help fund different causes around the world. While there is a maximum supply, Reddcoin developers intend to make the supply infinite.

Reddcoin is based on blockchain technology and allows you to carry out transactions in RDD, send and receive RDD. To use the RDD platform, you will be provided with a Redd-ID which will serve as your unique identity when using the platform. Your ID will associate your username with your essential information such as social network details and public keys. this distinguishes you from every other user.

Price History And Analysis

Reddcoin was first traded in February 2014 at a value of $0.06 which is an all-time low and has over time increased in value, just like any other cryptocurrency. It maintained this value until sometime in July 2017 when it experienced a significant leap in value. In mid-July 2017, it rose to $0.0036 which was its highest since launch in 2014.

The value dropped to as low as $0.0010 between July 2017 and January 2018 when Reddcoin enjoyed its highest rise in value in history. It rose to as high as $0.0324 in January 2018 before dipping to $0.0113 in January of that same year.

Reddcoin witnessed a slump in value from December 2018 where it closed at $0.0013 and was around that region between December 2018 and July 2020 when it rose to $0.0039 in July 2020. It rose again to $0.0051 in January 2021. It then leapfrogged to $0.0125 in April 2021 which was the highest it had risen to since May 2018. It then crashed in the recent crypto market dip in May 2021. it was valued as low as $0.0016 in June 2021. Reddcoin is valued at $0.0017 at the time of writing this article.

Factors Contributing to the Growth of Reddcoin

Reddcoin was launched in 2014 and has managed to stay relevant and at one point or the other brought smiles to the faces of investors. The question is whether Reddcoin is a good investment. The answer is yes and some factors contribute to its continued increase in value. Here they are:

  • Reddcoin tech has faster block time than most other cryptos
  • Continued improvement of Reddcoin’s PoSV model
  • Well-integrated with social media platforms

Let’s look at these in more detail. So, one of these factors is the fact that the Reddcoin technology has a faster block time than many other cryptocurrencies including Bitcoin. Block time in this context means the rate at which new blocks are added to the RDD blockchain. As it is well known, Bitcoin is the most sought-after cryptocurrency, and to have a cryptocurrency that offers a better block time makes such a digital coin a good investment. RDD also boasts of a fast transaction time of 60 seconds. Users of social media who use the RDD tech testify to the swiftness of the technology. All in all, Reddcoin is affordable and fast. This is an important factor that will contribute to the growth of Reddcoin.

Another factor that will contribute to the growth of Reddcoin is a continued improvement of Reddcoin’s PoSV model by Reddcoin developers. The purpose of this is to reduce the potential environmental effects. This is very important as there have been calls for a greener environment. This has also been applauded by environmental enthusiasts who have been advocating against the mining of cryptocurrencies and the negative impact it has on the environment. This gives Reddcoin a bit of a reputation and a future increase in value. It more than answers the question, is Reddcoin a good investment? It is worthy to note that Reddcoin’s PoSV model is an improvement on the PoS systems.

Another major factor contributing to the growth of Reddcoin as a cryptocurrency is the fact that it is integrated with social media platforms. Social media is now an in-thing that everyone use and the Reddcoin technology is enables people to pay other social media users using RDD. As we all know, social media is a multi-billion dollar business and any technology that enables people to make payment on it will be more than welcomed. Reddcoin developers are still working on integrating the technology on more social media platforms which will increase its users. With a total of 3.48 billion social media users, the users of the technology are bound to increase which will translate to an increase in the value of Reddcoin.

Reddcoin Price Reduction

Cryptocurrency price prediction can be a tricky venture, especially for coins like Reddcoin that is not as popular as the likes of Bitcoin and Ethereum. Experts have predicted an upward trend for Reddcoin in the coming years. For those asking if Reddcoin is a good investment, if what the experts are saying is anything to go by, then, yes, Reddcoin will be profitable in the coming years. If not for anything, its use on social media can only increase which bodes well for the digital currency.

This ad promotes cryptocurrency within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in some EU countries and the UK., no EU consumer protection. Investments are subject to market risk, including the loss of principal.
This ad promotes cryptocurrency within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in some EU countries and the UK., no EU consumer protection. Investments are subject to market risk, including the loss of principal.

Reddcoin currently goes for $0.0017 in the crypto market but is expected to rise as high as $0.0041 by the end of 2021. This represents a 141% increase in value, which is not a bad return for a 6-month period. Still wondering if Reddcoin is a good investment.

Reddcoin price prediction graph
Image Source: Wallet Investor (https://walletinvestor.com/forecast/reddcoin-prediction)

In 2022, Reddcoin is expected to open at an average price of $0.0050 and is expected to close at an average price of $0.00632. This is a slight increase in value compared to the rise of the second half of 2021. This prediction shows that Reddcoin will enjoy a 26% increase in value. A 26% return on investment is not a bad day at the office. Do not forget that the]is prediction is an average price, which means the value could be more.

The price prediction for 2023 is that Reddcoin will open at an average price of $0.00600 in January 2023 and will be selling for $0.00729 by December 2023. This represents a 21.5% increase in value which is a little lower than the previous year. However, it clearly shows that Reddcoin will continue to enjoy a steady increase in value in the next two years. This is good news for passive investors who like to buy and hold their coins. Their investment in Reddcoin will surely pay off.

By 2024, Reddcoin is predicted to be traded at $0.00800 in January 2024. A slight increase from the price in December 2023. It is expected to trade at $0.00940 by December 2024. That means Reddcoin is predicted to enjoy an increase of 17.5% in value in 2024. What this means is that in 3 years, Reddcoin will be worth almost $0.01. This is sure a good investment considering that these price predictions are average figures.

By 2025, Reddcoin is expected to open at $0.00961 in January and close at $0.01090 in December. It is expected to cross the $0.01 threshold this year. At this point, it can be said that Reddcoin would have come a long way. Considering that social media users will continue increasing and Reddcoin developers will continue working on how the technology will be used by all social media platforms, this digital currency might be worth more than $0.01090 in 2024. The increase this year shows a 13% increase in value. Cumulatively, Reddcoin is predicted to be a good investment for the future, 4 years from now.

In 2026, it is predicted that Reddcoin will witness a different trajectory from the previous years. Experts say Reddcoin will open at $0.0111 in January 2026 and close at $0.00961 in December. This shows a slight dip in value in 2026. This represents a 13% dip in price. This only goes to show that the crypto market is volatile. However, that does not take anything away from the fact that Reddcoin is a good investment for crypto investors.

The predictions above show that Reddcoin will continue to appreciate in value every year and the only dip predicted will be in 2026 which affords enough time to invest and cash out on the digital currency.

Where To Buy Reddcoin

Reddcoin is quite popular as it is among the first generation altcoins that were developed. This article has answered the question of whether Reddcoin is a good investment. When you decide to finally invest in this digital coin, there are quite a number of crypto exchanges you can purchase Reddcoin. Reddcoin is listed on the following crypto exchanges:

  1. Coinbase;
  2. Coinmama;
  3. Binance;
  4. eToro;
  5. Upbit; and
  6. Bittrex
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This ad promotes cryptocurrency within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in some EU countries and the UK., no EU consumer protection. Investments are subject to market risk, including the loss of principal.

To buy Reddcoin on these crypto exchanges and some others that list Reddcoin on their platform, there are some basic steps that you must follow. These steps are similar to when you buy cryptocurrency. They include:

  1. The first step is to create an account on your preferred crypto exchange to successfully trade RDD. You can use your email address and a preferred password. It is advisable to use two-factor authentication to have an extra level of security. You can trade RDD with USD, Bitcoin, Ethereum, etc.
  2. The next step is to deposit funds into the account you just created. The process of funding your account depends on the terms and policies of your preferred crypto exchange. Ensure you read these terms to avoid any issues.
  3. The next and final step is buying RDD after funding your account. The process of this step depends on the terms and policies of your preferred crypto exchange. After purchasing your Reddcoin, you can decide to hold it for a while so it can appreciate in value. To do this, you need a secure crypto wallet that can guaranty you the safety of your investment. There are quite a number of crypto wallets you can use. Ensure you read and understand the terms and policies of your preferred crypto wallet. 

Having said all this, is Reddcoin a good investment in 2021? The answer is yes. Considering the verdict of experts and the factors contributing to the growth of Reddcoin, it has the potential of increasing in value in the coming years which makes it a good investment decision. The use of social media cannot be overstated. Reddcoin being a technology that enables users to reward, donate and tip other social media users who post impressive content makes it a viable cryptocurrency to invest in.

The Application Program Interfaces (APIs) of Reddcoin makes it easy for social media enthusiasts to use. You simply have to create a Reddcoin account and link it to your social media and you are good to go. It is currently used in over 100 countries around the world.

Final thoughts

Reddcoin is regarded as a social currency that can only garner more acceptability with time. The potential increase in the number of social media users provides Reddcoin with the opportunity of having a larger target market. The popularity and integrity of Reddcoin will be on the rise in the coming years. This can only mean one thing, the higher the users of Reddcoin, the higher the value in the crypto market. The verdict is that you should invest in Reddcoin because, in the next few years, you will be glad you did so.

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