A Reddit person by the identify of Cryptorich13 has capitalized on the social media platform’s crypto reward system by changing his stash of free cash into Bitcoin (BTC). 

In a Sunday post, Cryptorich13 defined how he transformed his 80,000 MOON reward for Bitcoin earlier this yr. The worth of his holdings has ballooned following the newest Bitcoin worth pump. He mentioned:

“I shitposted lots in 2017. I used to be awarded 80k reddit moons earlier this yr which I bought on the rinkeby testnet utilizing XDai and honeyswap and instantly purchased BTC with it. (0.92 BTC to be actual).”

Cryptorich13 claims to have unloaded his 80,000 MOON for DAI at a mean worth of $0.08 to $0.13 a token over a 24-hour interval in late September. From there, he transformed DAI into Bitcoin. The whole course of was documented on the Warosu picture board.

On the time he printed the unique Reddit submit, his Bitcoin stash was value $23,736 based mostly on a BTC worth of $25,800. In a later edit, his 0.92 BTC was value $25,576.

On the time of writing, MOON was value round $0.01, down 15% on the day, in line with Coingecko. It must be famous that the Coingecko knowledge feed tracks MOON values from late-October onwards. 

Reddit MOON is the official cryptocurrency of the r/Cryptocurrency subreddit, a platform devoted to information, dialogue and evaluation of all issues associated to digital property. The token rewards energetic customers for his or her contributions to the subreddit. In response to neighborhood pointers, all posts within the subreddit have to be crypto-related or related to the tradition in some kind or method.

MOON is a part of Reddit Neighborhood Factors, or RCP, a rewards program that was launched earlier this yr to incentivize content material creation on the social community. RCPs are Ethereum (ETH) tokens which are interoperable with all different ETH functions. 

Up to now, just one different subreddit has launched a cryptocurrency through the RCP program. The r/FortNiteBR subreddit launched the BRICK token earlier this yr to reward customers for his or her contributions to the neighborhood.