Reddit users are taking the reins in their favorite social media platform, Reddit, as they begin to harness the power of the internet to create financial education tools and launch their own cryptocurrency exchange.
The subreddit, r/redditcoins, has been a hive of activity as the community has set up a number of different crowdfunding platforms and offered users a number, which range from financial advice and trading to cryptocurrency investing and education.
The community is also working to create a cryptocurrency exchange in order to help with the rapid expansion of cryptocurrencies.
“We’re starting with r/bitcoin to make the process more user-friendly,” RedditCoins founder, Ryan J. Smith, told Business Insider.
“We’re going to start with one for people who want to buy bitcoin and bitcoin to people who are just interested in buying bitcoin.
And then we’re going as far as r/btc.”
RedditCoins, which currently boasts over 1.4 million subscribers, has also started a series of educational tools to help the community learn to make their own cryptocurrencies.
The subreddit is currently in the process of adding additional educational tools, including a forum for bitcoin-related content, the ability to submit and vote on proposals for RedditCo, and the ability for users to post a video to the forum with a description of their ideas.
“The RedditCoincas are not the first group to start using r/coins,” Smith said.
“They are not even the first to launch a coin.
They are simply the first people to get in and use it.”
In addition to r/RedditCoors, Reddit has been making efforts to attract new members with the launch of r/Bitcoin.
The group has already launched a subreddit called r/bittrex which, as of Friday morning, has more than 8,000 subscribers, according to Reddit.
The company has also launched r/bitcointalk, which is the largest Bitcoin subreddit.
RedditCointalk currently has more subscribers than the entire r/Bitcointank subreddit combined.
In addition, r /coin is the subreddit for bitcoin, and users are welcome to ask questions about bitcoin and its various aspects in the forum.
While r /bitcoin is primarily for the community to discuss bitcoin and cryptocurrency in general, it also hosts a wealth of bitcoin-specific information including tutorials and articles.
r /coins, however, has a much more specific focus on cryptocurrencies.
“You’ll see r /crowdfunding in the sidebar, but we’ve got a lot of r /coins here,” Smith explained.
“So you’re going into a bitcoin forum and you’re looking at bitcoin for advice and getting money.”
With the subreddit’s recent success, Reddit is expected to expand its role in the world of finance.
Reddit Coins, in particular, has garnered a number and growing number of users.
“It’s definitely growing,” J. Michael Getty, the co-founder of Crowdfunder, an investor and crowdfunding platform, told CNBC.
“But it’s also growing in a way that I don’t think any of us have ever seen.”
According to Crowdfader, Crowdfunds grew at a rate of nearly $200 million last month.
It said it had $1.2 billion in investments, more than any other investment platform.
And the company said it expects to reach $1 billion in annual revenue by the end of the year.