Wallet

Reddcoin Wallet Top Five Best Wallet to Store Your Reddcoin

If you already own ReddCoin or looking to buy this digital currency, you need to find the best reddcoin wallet. However, you need not to worry because today, I’m going to highlight and discuss the salient features of various best reddcoin wallets. So, let’s start our journey.

ReddCoin is a peer to peer digital crypto currency like most others, but more unique than most of the crypto currencies. ReddCoin was created to improve the lives of social media users and was created to be a means of funds and payment transfer via social media. RDD was developed to work on all social media platforms.

With ReddCoin, people who run a business on their social media accounts can now transfer and receive funds using whichever social media they so desire. ReddCoin is known as a social coin, specifically designed to tie into existing social media platforms.

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There it could be used as a tipping system, gifts and a monetary way of showing appreciation for high-quality content. As the currency is gaining more and more popularity, we must know about the best wallets where we can store ReddCoin securely.

Social ReddCoin Wallet

It is an online reddcoin wallet that integrates new and innovative social features into the reference Reddcoin-Qt wallet, including Reddit and Twitter feeds and IRC chat. On the left hand side of the social wallet, you can see many tabs with information and tools. The dashboard tells you your confirmed balance, the price of BTC/USD, RDD/BTC, RDD/LTC, and the approximate value of your Reddcoin in USD. The best part is that you also have the option to import/export a private key.

Reddcoin wallet

Electrum Reddcoin Wallet (Desktop)

This desktop wallet is available for Windows, Linux, and Mac OS X. Reddcoin Electrum mobile wallets are being actively developed and they offer many significant benefits over traditional full-chain wallets, which make people’ choose this wallet over others.

Mobile ReddCoin Wallet

There is no registration needed and sending and receiving of Reddcoin is done via NFC, QR-codes or Reddcoin URLs.This is mainly for Android and IOS users. This reddcoin wallet app selects the right fee for you automatically, so the transactions won’t get stuck. Additional fees are required if you send amounts smaller than 1 RDD. This is a small attempt to fight “Spam”-Transactions that would otherwise hurt the network. This is considered as one of the best reddcoin walletsfor Android. ReddCoin wallet ios version is going to be officially released very soon.

Learn more: How to buy Bitcoin?

Core ReddCoin Wallet

ReddCoin Core Wallet (also known as Reddcoin-Qt-reference implementation of the Reddcoin protocol) is considered a “full wallet”, which means that it downloads and stores the entire Reddcoin blockchain. Reddcoin-Qt is built on the Reddcoin wallet daemon, and provides a nice GUI for easy use by the average Reddheads. In the Reddcoin wallet, you could find all your addresses to receive coins under the receive tab. You can also send coins from the send tab and see every transaction in and out under the transactions tabs. You can even save addresses you commonly send to under the Addresses tab.

Paper ReddCoin Wallet

An RDD paper wallet is considered an extremely secure way to keep ReddCoins safe from cyber-attacks, malware, etc. A paper wallet involves “printing” and storing RDD in an offline mode. The data appearing on the wallet includes things like the public key (wallet address), that allows people to transfer money into the wallet, and the private key, which gives access to the fund expenditure. Hence, it is important for the users to know how to use ReddCoin wallet in this medium.

Private keys

It is best to approach ReddCoin wallets as you would your regular money – cash and credit card is used for small payments (hot wallets-mobile), while your savings sit securely in a saving account (cold wallet-hardware), or spread out in several investments. Choosing a wallet which makes the private key with which you dispose of your crypto currency visible only to you is most important. Our top picks for ReddCoin would be Coinomi for a secure storage of your private keys.

Ravencoin is a blockchain specially designed to the creation and peer-to-peer transfer of assets.

Key Features of Reddcoin

  1. Reddcoin is a social crypto currency that can be integrated with many different social media platforms for sending/receiving money with zero fees.
  2. It’s a peer-to-peer open-source crypto currency derived from Litecoin.
  3. It dedicates much of its efforts to facilitate the “tipping” of small amounts of RDD on social networks, done in a similar fashion to “liking” a post on FB.
  4. The PoSV algorithm is a new take on PoS which encourages both ownership (stake) and activity (velocity).
  5. Its tipping system has already been enabled on Twitter, Reddit, Twitch, and Justin.TV.

Conclusion

It’s hard to predict the future of Reddcoin. On one hand, it seems a bit odd that we would tip people on social media when we could just show appreciation by “liking” their content. But we do tip people for almost everything else in the United States, so why not content? The Steemit social media platform has already found success in its similar feature, which pays users in STEEM for creating content, so it’s not unreasonable to see the trend spread.

That being said, Reddcoin has come a long way since its 2014 beginnings. The social crypto currency, which aims to integrate itself with nearly every social media platform as a peer-to-peer payments platform with tipping capabilities, is already functioning in several social media sites. It will be interesting to see the growth of Reddcoin as they make their way through 2019.

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