Making it a remarkable move, Reddit has recently introduced cryptocurrencies for approximately for its 20M users. Reddit launched Moon and Bricks in its two subreddits /r/Cryptocurrency and /r/FortniteBR.
Reddit aimed that this launch will help in the steady growth of the crypto monetization in the future. These tokens can be availed on the Reddit app; the user has to install the Reddit Vault to retrieve these tokens. The users who have been a constant contributor to the community have chances to gain rewards in the form of these tokens.
The involvement of Reddit in the crypto world has marked the development of crypto space. This will encourage a lot of people to adopt cryptocurrencies. This move by Reddit has achieved a brilliant response from crypto biggies.
The Co-Founder and CEO of Coinbase, Brian Armstrong, took it to twitter to appreciate Reddit’s integration in the Crypto space. In a series of tweets, he acknowledged the launch and talked about various benefits that come with this launch.
Brian Armstrong believes that its a great move, and this is a huge deal for crypto that Reddit has launched its cryptocurrency integration. According to Armstrong, Reddit is doing a great job. Reddit is giving a chance to its users “to own a piece of your favorite community.” Reddit rewards its users based on maximum contribution.
The platform allows you to make use of community points and send it to other users in the form of a tip. The Reddit Vault is a user-controlled wallet.
Armstrong tweeted that, It is an overall very well-executed plan, and other crypto startups should definitely make a note of it and learn from them on how a token launch can bring the online community together.
As Armstrong stated, the internet now has a currency of its own, and he believes that it’s definitely working in our favor. Armstrong says that people have been asking him, “where are the use cases?” to which he replied that now is the time, and this is what people have been looking for. A lot of people have worked hard to integrate crypto into real products. He wishes that there should be more such launches in the near future, and people should come up with crypto startup plans and make use of these tokens to build the communities.
Not just Brian Armstrong, the CEO of Binance, CZ, also acknowledged the move.
CZ took it to twitter and applauded the launch, and he hoped that this new move by them would encourage the adoption of cryptocurrencies across the globe.