Ecommerce is one of the biggest industries globally. Data from Statista shows that retail eCommerce sales in 2020 alone stood at $4.28 trillion. This figure is projected to grow up to $5.4 trillion in 2022.
Despite the growth in eCommerce, payment solutions have not grown enough to meet the needs of global commerce. Countless payment gateways have sprung up everywhere, charging huge amounts in transaction processing fees.
Additionally, currency barriers have become a major issue for many buyers seeking to make international purchases. Common complaints revolve around exchange rates and even government policies towards local currency regulation.
To solve this problem, cryptocurrencies have been the go-to solution. For example, Terra, has been able to successfully establish itself as a dominant crypto commerce solution in South East Asia. Despite Terra’s achievement, it is only popular in the Asian region.
To solve this problem, Reddocoin has come up with its utility token (Reddo) that aims to break the barrier of geography by creating a seamless and truly global ecosystem for eCommerce businesses.
What is Utility Token and How Do Utility Tokens Work?
A utility token is usually issued by a company — mostly tech companies. Tokens give investors/ buyers access to that particular company’s current and future product offering and services.
Within a company’s ecosystem, tokens usually have many functionalities. Unlike regular coins that can only serve payment and exchange purposes alone, utility tokens go beyond that. It can be used as a medium of exchange, payment for services, and even as a reward system (just like coupons), and lots more.
To be able to use any company’s utility tokens, you will need to buy the tokens at a time when the company has publicly listed them for sale. Most tokens are sold during companies’ pre-seed funding, and Initial Coin Offering phase.
As a rule of thumb, tokens are generally issued on the blockchain. Once you have purchased a substantial amount of tokens, you can easily have access to lots of offerings on such a company’s platform.
Reddocoin Utility Token: Use Case and Functionalities
Built on the Binance Smart Chain (BSC), Reddocoin utility token — Reddo — has been created to remove all of the barriers to global eCommerce. Barriers such as policy regulations and currency exchange will no longer exist for customers and retail eCommerce stores alike.
As you already know by now that utility tokens have multiple functionalities. The Reddo is fully equipped to serve multiple functions for all who operate within the Reddocoin ecosystem.
Some of the outright benefits of holding Reddo include:
- Removal of payment barriers including middlemen and high transaction fees
- Access to the best set of verified retail outlets and deals on a global scale
- Guaranteed reward for holders for every action taken within the Reddocoin application
- Preferential treatment with up to 99% discount on some services
In essence, with your Reddo, you can easily make payments to sellers anywhere in the world within seconds and have your items delivered to your doorstep. You need not worry about credit cards as you can make payments to sellers from your reddo e-wallet. Transactions are completed and confirmed within seconds as payments are documented on the chain.
No downtime, no scam, and no failed transactions.
Reddocoin IDO is Ongoing!
If you are ready to get beyond the old boring story and transact globally without any hitch, then it is time to jump on the reddo train.
Reddocoin is currently offering its token — reddo — to the public. The token sales are expected to take place in three rounds (the first round is running) between 7th September and 10th November 2021.
Currently, the price is @ $0.34 and accepted currencies are ETH and BNB. Sales stop immediately when the $40 million hard cap is met.
Purchase of 35k Reddo comes with an additional 3%. 200k reddo purchase with +5%, and 500k reddo with +8%.
Waste no further time, sign on to the future of eCommerce.
Reddocoin is a project on the Binance Smart Chain that aims to solve major problems in global eCommerce by deploying software development and the blockchain to ease global eCommerce operations. Reddocoin automates all aspects of dropshipping and allows sellers to concentrate more on generating sales and marketing their products. For buyers, Reddocoin removes geographical and transactional barriers to purchase through its global smart ecosystem that simplifies eCommerce processes.
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