The Best Cryptocurrency Reddit Users Like
If you spend a lot of time on the Internet, you’ve most likely heard of Reddit. The site poses itself as the “front page of the Internet”, and this is not an empty boast: Reddit is the sixth most popular site in the US and the 18th worldwide.
What is Reddit? In general, this is a huge collection of forums where people can share news or content and comment on the posts of others. Here’s all you need to know.
What Is Reddit?
Reddit is a platform that allows anyone to create and manage their community, which is called a subreddit (subreddit). The entire social network is a social aggregation site where people curate content they find on the Internet or create themselves.
Then they send it to their subreddit so that other users can comment, discuss, and vote on the content, pushing the most popular up the page and moving the less popular content down. If you log out, trending topics are displayed on the first page of Reddit, followed by a list of all “safe” communities, organized by popularity from top to bottom.
Reddit is unique in that of all the sites from which social networks began. It is the only one that has survived, continues to grow, and has remained loyal to its audience. Today it is one of the few social networks where people do not just post photos and scroll through the feed. Instead, users tend to study, read and discuss all the important issues of their lives.
What Is Moon?
MOON tokens are the crypto money of the r/Cryptocurrency subreddit (section) of the popular Reddit forum. Sometimes it is called MOONS. The launch of the MOON took place in mid-May 2020.
MOONS are tokens of the ERC-20 standard. It means that they are compatible with all cryptocurrencies built based on blockchain Ethereum (that is powering the cryptocurrency ETH). The developers claim that the transfers of the subreddit tokens cannot be tracked.
Information about MOONS tokens as of August 31, 2021. Source: CoinMarketCap
The name of the MOON token directly refers to the moon. It is a reference to the expression “to the moon”, popular in the crypto community, which investors use to indicate the growth prospects of an asset. The maximum number of MOONS tokens accessible in the market is 250 million. The developers distributed the first 50 million among the subreddit users, depending on the assessment of their activity. The value of coins supports their withdrawal from circulation as soon as these coins are used in payment. Simply put, every token spent disappears.
The Way Reddit Released Moon
MOON crypto is a tool for encouraging users. Coins are awarded to popular authors and active forum participants. Thus, the platform maintains activity on the forum. This strategy helps to gain more and more popularity.
The release of MOON and other forum subreddit tokens was implemented as part of the Reddit Community Points (RCPs) project. Its task is to provide tools to encourage millions of content creators on the platform. Many sites work according to a similar strategy. For example, YouTube makes it possible to connect monetization to the most active bloggers. Thus, bloggers receive encouragement from the site and continue to develop their content on it.
To manage the tokens released under RCPs, the developers offered users the Vault platform – an analog of crypto wallets. You can use it to view the balance and make transactions. Debiting tokens from Vault is only available if you have a private key. Asset owners have it. Thus, this wallet is safe.
In June 2020, the forum asked Ethereum and ETH developers to help them scale RCPs. The representatives of the project agreed to cooperate. At the end of July 2021, information appeared on the network that the forum plans to transfer tokens to the main ETH network using Ethereum, a second-level Arbitrum solution. According to representatives of the initiative, work in this direction will increase the speed of transactions with MOONS and BRICKS coins. Also, the changes will allow you to transfer tokens to Vault automatically. Previously, users had to request coins. The forum created an incentive token and decided to develop further in this direction, improving its token. Over time, other ways of implementing MOONS began to appear on the web. For example, you can sell tokens on the decentralized HoneySwap crypto exchange.
How Can I Get Moon Tokens?
Content authors and active participants of the platform can receive MOON crypto, as the developers planned. There are also several alternative ways to become a coin owner on the market.
If you think that writing posts on the forum is boring, we are ready to convince you. On Reddit, there are the largest forums (related topics) telling about crypto, Bitcoin (BTC), cyber fraud. You will find something new for yourself or be inspired to express your opinion.
The Best Crypto Communities on Reddit
/R/BITCOIN – 254,076 subscribers
It is the most popular crypto subreddit, and for a good reason. It is a place where many bitcoin (BTC) enthusiasts, miners, traders, and newcomers get together and discuss issues related to Bitcoin (BTC).
R/DARKNETMARKETS – 142,978 subscribers
This subsection is dedicated to discussing the darknet markets. On any day, you can find reports that someone has hacked to order medicines on the Internet, complaints about various markets, discussions about placing orders, and so-called “shitposts” – funny stories.
/R/ETHEREUM – 83,945 subscribers
Ethereum ecosystem, as well as ETH, excites all crypto markets and communities, and its subreddit is proud of it. The ETH group is extremely active, especially in light of the recent price spikes of ETH and drops. Tweets, news, and posts from many Ethereum and ETH supporters are published there.
/R/DOGECOIN – 77,685 subscribers
Now Dogecoin is going through a period of intense revival. The coin itself showed an impressive pump of value. This fun and simple group has funny and serious titles and it is always friendly. Here they often tease each other, share advice and encourage everyone to participate in the group’s life.
/R/BTC – 43,228 subscribers
This is the second most popular bitcoin (BTC) group. It was created after some members of /r/bitcoin felt being censored and decided to gather elsewhere. This subreddit stands primarily for a free and open discussion about Bitcoin (BTC).
Where to Buy It?
Unfortunately, it is not possible to purchase a forum token on popular digital asset exchanges. But there are alternative schemes. For example, you can buy MOONS on the already mentioned decentralized exchange Honeyswap. To do this, you will first need to purchase another crypto money – one that can be exchanged for tokens. Information about MOONS trading pairs is presented in the crypto card on CoinMarketCap.
Trading pairs with MOONS. Source: CoinMarketCap
For example, take the stable coin xDai. After buying a token, it should be exchanged for MOONS. If necessary, the crypto can be transferred to Reddit. Other platforms have tools for buying MOONS. One of them is Celesti.trade.
Is It a Good Idea to Invest in a Reddit Token?
To invest in MOONS or not to invest? That is the question. Some members of the crypto world consider tokens useless. Others see potential in them. In particular, some investors emphasize the growth prospects of MOONS due to a gradual decrease in the volume of coins available on the market. Opponents of tokens pay attention to the fact that representatives of Reddit are in no hurry to list cryptocurrencies on popular trading platforms. Difficulties with the acquisition of MOONS, in their opinion, can negatively affect the position of coins. At the same time, do not forget that the tokens in question are tied to a specific subreddit and not Reddit as a whole.
MOON graph. Source: CoinMarketCap
Despite a number of negative opinions about Reddit tokens, the crypto showed positive dynamics in the summer of 2021. The gradual development of the token, combined with its incentive task, gives an excellent management token.