The Reddcoin community has one more reason to celebrate after the network announced a partnership with HODLFinance. The digital asset is known for enabling tipping on social media platforms can now be used to secure fiat loans. The partnership news was shared via Twitter on September 25. With the services on HODLFinance, Reddcoin holders can now access in fiat loans and not touch their RDD.
HODL Finance is a rapidly growing platform that is using its resources to disburse loans to cryptocurrency holders. HODL Finance portfolio continues to grow, besides their services are unique and highly sort after in the market. Holders find it easy to get loans using their crypto holdings as collateral. At the same time, it gives people the freedom of keeping their cryptocurrency portfolio intact while seeking finance in fiat currencies.
According to HODL Finance, all Reddcoin holders can now access their services. Significantly, the services are secure, fast and untaxed. In addition to that, the platform is open 24 hours a day, 7 days a week. Laurence, Reddcoin Core Team Co-Leader said in regards to the partnership:
“Reddcoin provides a reimagined way for content creators and social network users to be rewarded for quality content with cryptocurrency. Partnering with forward-thinking companies such as HODL Finance allows Reddcoin Core to offer our users the ability to use their RDD to secure fiat loans, safely, quickly, and without risking your underlying assets. Reddcoin is excited to welcome HODL Finance to the ReddHead ecosystem!”
HODL Finance was established by one of the leading peer-to-peer lending platform in Europe, Savy. The lending platform boasts of having more than 30,000 clients across 30 European countries. Their clients include individuals, companies, miners, ICOs and exchanges among others. The website states that HODL Finance has disbursed over $14 million loans. Other accepted cryptocurrencies include EOS, XRP, Ethereum, Litecoin, NEO and Bitcoin.
About Reddcoin (RDD)
Reddcoin was launched in 2014 as a digital currency for social media platforms. The Reddcoin team has a mission to spearhead the mass adoption of cryptocurrencies. To achieve this groundbreaking milestone, Reddcoin has come up with the first personalized IDs for social media tipping. Reddcoin has integrated its social ID, Redd ID with social media platforms like Facebook, Twitter, and Telegram.
Reddcoin users are also able to send and received RDD micropayments using their social media accounts. Reddcoin realized that to achieve mass adoption, cryptocurrencies must be brought closer to the people. The growing number of social media users around the world has laid the ground for this adoption. The Redd ID feature, launched in September 2018 has made the process of using Reddcoin on social media seamless, cheap and fast.
Reddcoin (RDD) price overview
Reddcoin is currently trading at $0.004232 following a 15% rise in the last 24 hours. The crypto has been trading in the green for the past one week. Similarly, it has been among the best performers in the crypto market in September. Reddcoin is a $120 million token with a volume of $6 million on September 29, 2018, and is ranked 55th according to the data on CoinMarketCap.