Online forum Reddit has introduced a new way to accept cryptocurrency payments using Community Points. The platform has partnered with FTX, a popular crypto exchange to unlock new crypto-enabled perks for Reddit Community Points.
The integration of FTX Pay with Reddit will now allow users to purchase Ether cryptocurrency from supported Reddit apps, which then can be used to pay blockchain network fees for their Community Points transactions on-chain.
Community Points will allow users to create Special Memberships in your community that users can purchase with points. Special Memberships unlock multiple features such as badges, you can personalize your presence on the subreddit with loyalty, achievement, style badges, and even add a highlighted colour to your username.
Reddit is a social news site where users create and share content. Some of this content is only suitable for those 18+ and is marked as NSFW (not safe for work). For some parents, this makes them wonder whether Reddit is safe for use by teens.
Teens can often find communities to discuss their favourite video games or hobby. They can also find more general communities like r/mademesmile where users share content to spread happiness. There is even a subreddit specifically called r/teenagers for those 13-19 years of age to discuss things relevant to them.
As users browse, they can choose to go to specific communities or browse their front page. Their front page features posts from all the communities they follow. They can also browse r/all, which draws popular posts from subreddits all over Reddit.
Reddit now has rules against sharing personally identifiable information of other people across the site. Many subreddits also repeat this in their subreddit rules. Users who break this rule get banned from the site.
It is also a space to offer support. For example, young people who are a part of the LGBTQ+ community may find advice in a subreddit like r/LGBTeens. Someone who struggles with ADHD could find support in r/ADHD. There are also communities for asking advice on a variety of topics or just having a simple conversation.
The users in these subreddits tend to be very supportive of those in their community. Because each subreddit has rules users need to abide by as well, moderators will ban or suspend anyone who tries to put others down. As a result, many of these support communities serve as safe spaces for those most vulnerable.
Popular Reddit communities include those surrounding cryptocurrency and NFTs. In fact, one of the earliest cryptocurrencies, Dogecoin, started because of a Doge meme on Reddit. The joke currency ended up growing a great deal and earning its own community on Reddit.
After discussing on Reddit, the user decided to post a list and said that if you are new enough to cryptocurrency or to investing in general, do yourself the massive favour of diving deeper into investing and engage in the process of finding value in an asset.
These figures and figures throughout this Spotlight, unless otherwise noted, are based on fraud reports made directly to the FTC in the Consumer Sentinel Network database from January 1, 2021 through March 31, 2022 that indicated cryptocurrency as the payment method. Reports provided by Sentinel data contributors are excluded because of inconsistencies among contributors in capturing payment information. Because the vast majority of frauds are not reported, these figures reflect just a small fraction of the public harm. See Anderson, K. B., To Whom Do Victims of Mass-Market Consumer Fraud Complain? at 1 (May 2021), available at _id=3852323 (study showed only 4.8% of people who experienced mass-market consumer fraud complained to a Better Business Bureau or a government entity).
 From January 1, 2021 through March 31, 2022, 49% of fraud reports to the FTC indicating cryptocurrency as the payment method specified that the scam started on social media, compared to 37% in 2020, 18% in 2019, and 11% in 2018.
 From January 1, 2021 through March 31, 2022, $1.1 billion was reported to the FTC as lost to fraud originating on social media. Of that number, 39% was reported as paid using cryptocurrency, followed by bank transfer or payment (20%), and wire transfer (9%). 8% did not indicate a payment method.
 From January 1, 2021 through March 31, 2022, people reported to the FTC that $417 million in cryptocurrency was lost to fraud originating on social media. $273 million of these losses were to fraud categorized as investment related, followed by romance scams ($69 million), and business imposters ($35 million).
 From January 1, 2021 through March 31, 2022, people ages 20 to 49 submitted fraud loss reports to the FTC indicating social media as the contact method at a rate 3.4 times greater than people 50 and over. About 91% of fraud reports indicating cryptocurrency as the payment method during this period included age information. This age comparison is normalized based on the number of loss reports per million population by age during this period. Population numbers were obtained from the U.S. Census Bureau Annual Estimates of the Resident Population for Selected Age Groups by Sex for the United States (June 2020).
 From January 1, 2021 through March 31, 2022, the percentage of total reported fraud losses that were lost in cryptocurrency by age were as follows: 12% (18-19), 23% (20-29), 35% (30-39), 33% (40-49), 28% (50-59), 19% (60-69), 10% (70-79), and 2% (80 and over). These figures exclude reports that did not indicate age.
When your Vault is created, you will receive a public address and will need to secure your Vault. The public address is your address on Ethereum-compatible blockchains, where your Collectible Avatars are stored and that only you control.
As I wrote in the beginning, R. search is not the first search engine in TOR. First well recognizable one was Grams. It operated from 2014 until the end of 2017. Grams was well-known and valued by the TOR community. The website was linked to the cryptocurrency mixer Helix, and because of that its creator was charged with money laundering conspiracy by a US court in the last month.
A subreddit is a niche community for Redditors to discuss particular interests like gaming, cryptocurrency, and stock trading. Anyone on Reddit can start a subreddit to find like-minded individuals or subscribe to a subreddit curated for a topic they find interesting.
To date, there are over 130,000 active subreddits. Sharing content on the right subreddit increases traction for the post. The voting system allows Redditors to be in control of which content goes viral, while uninteresting or negatively charged posts get downvoted.
Subreddits are also a venue for opportunity and profitability. On Reddit, you are guaranteed to find an audience for the most niche topic. Discourse on cryptocurrency is among the most popular on the platform, with the subreddit r/CryptoCurrency gathering almost 5 million members. Proclaimed the leading community for cryptocurrency analysis and news, r/CryptoCurrency launched its official crypto token called MOON.
To earn karma, you must dedicate some time to sharing content and commenting on posts. Asking questions is a great way to encourage users to interact with you. Getting upvotes improves ranking within the subreddit or comment thread, which can also increase karma count.
A high Reddit Karma unlocks certain benefits within Reddit. Some communities require a certain Karma count before you can subscribe or share your first post; a high karma count guarantees access to exclusive community perks. At approximately 50 karma, you can also start your own subreddit. Most significant of all is establishing credibility. Redditors with high karma are a testament to how community members value their opinions.
Virtual merchandise has long existed before the rise of blockchain technology. Reddit Coins, formerly known as Creddits, are a virtual currency Redditors use to buy awards. Reddit Coins can be bought in different bundles, from 500 Coins priced at $1.99 to 82,000 Coins for $199.99.
Bitcoin pioneered the cryptocurrency market and was soon joined by newer digital currencies. Due to multiple issues with payments, Reddit discontinued Bitcoin as a payment option. Nonetheless, the cryptocurrency communities continue to grow, engaging in conversation on the latest news, trends, and the future of crypto.
Reddit has already amassed over a million dollars with just four CryptoSnoos. Despite mixed perceptions from Redditors, Reddit has successfully marketed NFTs and cryptocurrency to the target audience.
Firsthand knowledge and years of experience in managing cryptocurrency transactions give social news site Reddit an edge over other social media platforms in integrating blockchain technology. The crypto market is volatile, and Reddit is taking cautious steps in launching Community Points sitewide and dropping a new NFT collection.
While Reddit Coins are a virtual currency, this in-app merchandise is not cryptocurrency. However, Reddit Community Points can be used to buy awards for Redditors, omitting the need to purchase Coins before purchasing Awards.
The most important thing you must do if you want to take custody of your NFTs is link OpenSea to your hot wallet or hardware wallet. MetaMask is the most widely used cryptocurrency wallet in the NFT community, but you also have other open source options.
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Though the social network has long been on the radar of Silicon Valley VCs, Reddit grabbed attention from individual and institutional investors alike after traders on the subreddit r/WallStreetBets led to the rise of meme stocks like AMC and GameStop in early 2021. 781b155fdc