How to Create a Reddcoin Wallet | Step-by-step Guide
Are you looking for the best Reddcoin wallet on the market? We are sorry but is not like ‘one size fits all’. In a huge selection of wallets, you should aim to find the one that will suit you and only you perfectly. Guarda, one of the best non-custodial wallets provider, knows what important features should be present in your cryptocurrency storage. Creating a Reddcoin wallet has never been easier — on Guarda you can do it in just 4 steps. This all-embracing instruction will guide you through the vast amount of information to show you how to look for a proper RDD wallet and how to set it up whenever and wherever you want!
What is Reddcoin?
Reddcoin was developed as a fork of Litecoin, and initially utilized the same Scrypt Proof of Work (PoW) algorithm for securing the Reddcoin blockchain and verifying transactions. Eventually, on August 2, 2014, Reddcoin transitioned to a new algorithm Proof of Stake Velocity (PoSV), ending the mining phase of RDD’s distribution.
The development team envisions Reddcoin to be a digital currency that can be easily utilized by the general public. This is achieved by integrating a digital currency platform seamlessly into all major social networks to make the process of sending and receiving money effortless.
The idea on which Reddcoin is based, alone can attract a massive number of curious digital users. Combined with a dedicated team of developers and engaged community members, Reddcoin has a bright future ahead.
Reddcoin (RDD) price on CoinMarketCap.
How to store Reddcoin?
Reddcoin can be stored in a variety of digital wallets. You can even keep it directly on the exchange but we do not recommend that. The Guarda team would rather suggest utilizing wallets which can provide you with a necessary level of security. To help you out in finding your perfect wallet, our team conducted an in-depth research in order to form a list of basic requirements for Reddcoin digital wallet. Stick to them and leave your worries behind!
Choose a secure RDD wallet
While searching for a worthy wallet to store your RDD, you should pay attention to how each storage provider ensures the security of your funds. If you are not a fan of hardware storage, a custody-free wallet would be your perfect choice. In accordance with decentralization principles, they do not have access to your private keys, personal information and backups. By means of not sharing your private data, you eliminate the risks of leaks or hacker attacks and stay fully responsible for your assets.
Check the frequency of wallet updates
Constant updates equal security and convenience of your wallet. It does not mean that updates should be launched on a daily basis but you still have to feel the dedication with which developers do their job. Development teams usually announce their wallets’ updates, bug fixes and new features on their official websites, blogs and networking pages. If you have not heard anything for weeks now, it most likely means that you should reconsider your interest in the particular wallet. Promise us that you will stick with those who will be as involved in RDD coin as you are.
Read through the RDD wallet reviews
Some people underestimate the power of reviews and its value for other users. Remember the last time you had a bad experience with some services. Wouldn’t it be easier if you could foresee the future? What if we say that you can? Getting familiar with user feedback is a great tool for avoiding an unpleasant experience. Other users’ opinions may be quite useful, as they show you the pros and cons of each storage and let you understand what you can do next. Check the reviews for a mobile application in App Store or Google Play, as well as on specialized review platforms like Trustpilot or Cryptocompare for Web, Desktop or Chrome Extension versions.
Moreover, the developer’s activity can be a great indicator of whether a customer’s opinion is taken seriously. Look at how the developers respond to the negative comments they get (God bless if they answer at all). In case they do not, think twice before using the services they offer.
Join the RDD wallet community
The information available on the website is perhaps too biased as it is in the developer’s interest to get your attention. That is why we recommend joining wallet communities. It’s not a social club but more of a place full of useful information and experienced people. They can help you to evaluate the wallet’s reliability and better understand available features.
If you are a novice you will find lots of help and guidance, and if you are not new to owning crypto assets, share your passion and interest with others.
Dive into crypto world with your Reddcoin wallet
If you have made it through the theoretical part of this article, you deserve a little break. We have already covered 4 requirements that each respectable wallet should meet, and now we are going to introduce you to one of such wallets. In addition to meeting the necessary conditions, Guarda — the leading non-custodial wallet — supports RDD on various platforms: Web, Desktop (Windows, Linux, macOS), Mobile (Android and iOS) and Chrome Extension. Do you want to get started with your Web RDD wallet in a few easy steps? Then you would want to keep reading.
Create a Reddcoin wallet by following these 4 steps:
- Go to the Guarda Wallet website and choose “Create Wallet” on the main page
- Create a strong password for your wallet
- Download the backup file and keep it in a secure place
- Your Reddcoin wallet has just been created!
Step 1. To get started, you will need to go to the Guarda Wallet website’s main page and click the button located in the upper right corner. Consequently, a new window will pop up and you will need to choose to create a new wallet again. Before you proceed to the next step, you may want to learn some additional information on how the Reddcoin wallet you are about to create works. You can read through all the insights on the Web Wallet page.
Step 2. As we have mentioned above, security is extremely important when it comes to storing funds. Even though for the most part security depends on the developers of digital products you use, you still have some responsibility of your own. And that is creating a strong password for your Reddcoin wallet. By using a unique combination of upper/lowercase letters, numbers and symbols you can avoid lots of problems. To see all the tips on creating the most secure password for your RDD wallet, see the guide that our team has prepared for the users.
Step 3. As we have mentioned before, all Guarda wallets are non-custodial. What does that mean? One thing: we do not store your backups, and thus, we cannot access them. That is why this step requires you to download your backup and find a secure place to store it. As you can only log into your Reddcoin wallet with a combination of Guarda wallet backup and the wallet password that you thought of on the previous step, you must not lose or forget them. Otherwise, there is no way we can help you. Yes, with decentralization comes responsibility. However, we believe in you and know that you will save your backup file and will never share it with anyone.
Step 4. Ready? Steady. Go! Your new wallet for Reddcoin is all set! You do not have to worry now — you can store and manage your RDD safely with the help of the functions that Guarda has developed for its customers. We are sure you are going to enjoy your experience with Guarda! Leave your feedback and help us deliver the best services we can!