Reddit NFT continued to trend online in December 2022 due to its massive impact on the non-fungible token (NFT) market. It is a kind of avatar that can be bought on the Reddit marketplace. Launched in July 2022, the Reddit NFT marketplace provides users of Reddit (a popular network site where contents are shared and various topics discussed), known as Redditors, a platform to buy blockchain-based images for a set price.

## What are some of the types of Reddit NFT? 

Unlike NFT projects such as the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC), and Otherside for Otherdeeds, which is backed by a huge developer like Yuga Labs, Reddit has forgone mainstream companies. Instead, Reddit has partnered with several independent artists to create diverse designs which can be patronized by the billions of people across the globe that visit Reddit.com.

Despite several NFT types on Reddit, the main and exclusive NFT collection launched by the popular networking site is CryptoSnoos.

Like other NFTs, CryptoSnoos has different features that help determine scarcity. CryptoSnoos are grouped into Rare, Epic, and Legendary. While Epic CryptoSnoos NFTs are limited and Rare CryptoSnoos NFTs are extremely limited, Legendary CryptoSnoos NFTs are unique. This is why prices of Legendary NFTs are higher than Epic and Rare NFTs. 

## What blockchain houses the Reddit NFT

The team behind the NFT chose Polygon to house the digital collectibles. Polygon was selected because it is a layer 2 scaling solution that has found an answer to the blockchain trilemma of decentralization, security, and scalability. Once a particular protocol finds an answer to the blockchain scalability problems, transaction costs related to the use of blockchain are reduced to the barest minimum.

As of 17 December, 2022, collectibles on Reddit have contributed to the [$40 billion](https://www.cryptoslam.io/blockchains/polygon) in sales Polygon-based NFTs have generated in the six months to December. In addition to Reddit collectibles, some of the avatar collectibles minted on Polygon include, but are not limited to, Doodle Collection, Cute Snacks, and 5 Boro Bodega. 

As of December 2022, the total sales volume from Reddit collectible avatars was [$11.95 million](https://dune.com/polygon_analytics/reddit-collectible-avatars), and there were more than [four million collectible avatar holders](https://dune.com/queries/1428687/2423544). There are more than four million single collectible avatar holders, and more than five million [collectible avatars](https://dune.com/queries/1428579/2423370) are in the market.  

## Where to buy NFTs from Reddit?

NFTs can be bought and sold on different NFT marketplaces. While some of the best NFTs to invest in can be found on multiple platforms such as Nifty Gateway, LooksRare, Rarible, and X2Y2, the best NFT marketplace to buy digital images is OpenSea - aside from Reddit’s marketplace. Bank cards can be used to buy NFTs on Reddit, but OpenSea is crypto only.

Before you purchase digital art that can be used as a profile picture on your social media channels on OpenSea, you need to have a crypto wallet. Some of the crypto wallets that support
OpenSea includes Rainbow Wallet, MetaMask, Coinbase Wallet, and TrustWallet. Since the digital collectibles are housed in the ecosystem of Polygon, you need the native asset of Polygon, MATIC. You can also hold Ether (ETH), the native asset of Ethereum, since most of the NFTs sold on OpenSea are priced in that cryptocurrency.

Once you have MATIC, you can connect your wallet to OpenSea, search for NFTs with links to Reddit, make a purchase, and your digital collectible with be deposited into your crypto wallet. 

## Conclusion

NFTs by Reddit continue to see huge liquidity due to the popularity of Reddit as a networking website. As a result, you can invest in the NFTs with an eye on future sales due to the increasing usage and patronage of Reddit and its collections.

But, like all investments, you should consider the pros and cons of investing in digital collectibles from Reddit before you risk your hard-earned money on digital collectibles. 


Reddit NFT: What is it and where can I buy one?

Reddit crypto involvement has expanded with the announcement of a collaboration with cryptocurrency exchange FTX.

The partnership allows users to manage community points. It also enables users to buy Ethereum cryptocurrency via integration with FTX.

FTX, the [cryptocurrency exchange](/news/article/best-crypto-exchange-uk-reddit) run by billionaire Sam Bankman-Fried, this week confirmed that Reddit users can now manage their blockchain-based community points via the company's payment system, FTX Pay.

As part of the partnership, FTX Pay will be integrated as a payment and cryptocurrency exchange service, enabling new benefits for Reddit Community Points.

## Reddit Crypto Engagement

In 2020, Reddit introduced community points as a means to reward members for engaging with a community. These points are held in the "Vault," a user's blockchain-based wallet that also stores the collectible NFT (non-fungible token) avatars that Reddit unveiled last month. These community points are based on the Ethereum blockchain.

Reddit offers a variety of options to utilise community points, including earning community-specific memberships, voting on issues, recognising creators on the site, and submitting tips. 

Community points are shown next to a user's username as a measure of their reputation on the site. Community points can currently only be used by members of the two subreddits r/Cryptocurrency and r/ForniteBR, but Reddit wants to open it up to more communities eventually.

As community points are stored on the Ethereum blockchain, utilising them will result in gas costs or the price of making a transaction on the Ethereum blockchain.

This entails paying a charge in Ethereum, which some users might not have or may not know how to use. The Reddit partnership with crypto exchange FTX means users can now convert fiat currency (a nation's official currency, such as USD) to Ethereum to pay for those charges. That makes community points more accessible for individuals who may not be familiar with cryptocurrencies.

The FTX-Reddit crypto integration might be seen as Bankman-Fried's bet on the stability of the meme stock phenomena, which started on Reddit.



Reddit Crypto Exchange Partnership with FTX

There are around 500 crypto currency exchanges in the industry today. Unfortunately, not all of them are great platforms for your hard-earned money. 
As per  our analysis, you should always consider factors such as trading volume, scalability of the platform, security, insurance, customer service, geographical restrictions, and fees among others before settling on an exchange. 

As a result, MoniTalks has identified eToro and Coinbase as the best cryptocurrency exchanges in the United Kingdom and they continue to trend on the social media platform, Reddit. 

## eToro ― Overall Cheapest Crypto Exchange UK 

Launched in 2007 as a multi-asset trading platform, [eToro](https://www.etoro.com/) provided services under the stock, commodities, exchange-traded funds (ETFs), and indices banner before making the foray into cryptocurrencies in 2013. eToro serves around 27 million customers in over 100 countries. 

As of July 2022, supports more than 60 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Bitcoin Cash (BCH), Ripple (XRP), Stellar (XLM), Litecoin (LTC), DASH, Uniswap (UNI), and Chainlink (LINK). 

Unlike other places of buying digital assets that have been mired in regulatory problems with the [Financial Conduct Authority](/news/article/fca-crypto-regulation) (FCA) of the United Kingdom, the trading platform is registered as eToro UK with company registration no. 7973792. This certifies eToro as the most credible place where you can trade digital assets in the United Kingdom. 

Among the pros is a demo account to help you learn how to trade using virtual funds. Additionally, eToro is extremely accessible and can be found via the Google Play and Apple Store on Android and iOS-powered devices. 

After being in the traditional and decentralized finance trading sector for more than 15 years, eToro has not been involved in any cyber security issues due to the level of its security systems. It continues to operate without incident. 

Moreover, the platform supports several payment methods such as bank transfers, bank cards (MasterCard, Maestro, and VISA), and e-wallets such as Skrill, PayPal, Neteller, and co. With this, you have a range of alternatives to choose from. 

eToro is among trading platforms that have low fees (deposits, trading, and withdrawal). 

The exchange continues to see millions of dollars in daily volume and recently launched eToro Crypto Portfolio, a basket of high-yielding coins. With a single investment, you can see consistent periodical yields.

Despite the positives, eToro is not a traditional cryptocurrency exchange, and dormant accounts are subject to inactivity fees. 

## Coinbase ― User-Friendly Bitcoin Exchange 

Founded in 2012, Coinbase can be accessed in the United Kingdom and is one of the biggest cryptocurrency exchanges by daily trading volume. On 14th March 2018, Coinbase announced via a blog post that it is the first exchange to receive an e-money license from the FCA. 

Overall, there are 98 million verified users, 230,000 ecosystem partners, and 13,000 institutions in more than 100 countries. 

The exchange supports more than 50 cryptocurrencies which include the top 20 digital assets by trading volume. It offers low minimum deposits, several payment methods such as PayPal, and offers a very advanced trading platform. 

Other Honorable Mentions of the best crypto exchanges in the UK include but are not limited to, Binance, OKX, Bitstamp, Crypto.com, Kraken, Gemini, Gate.io, KuCoin, and Bittrex. 


Best UK Crypto Exchange according to Reddit

As someone interested in crypto, you've probably already visited [Reddit](https://www.reddit.com/). But what about Reddit using VPN for crypto?

Here, we look at Reddit as a resource for cryptocurrency information, explain VPNs, and show how to engage with Reddit using VPN for crypto.

## Reddit Using VPN for Crypto

There are many VPNs out there, but not all are good with Reddit for crypto. Some VPNs can seriously slow down your connection, making it difficult to load pages or even vote on comments.

So which VPNs should you use? Here are some of the favourites:

- ExpressVPN: This VPN is fast, reliable, and perfect for streaming video.
- NordVPN: This VPN is great for security and privacy and has a large server network.
- CyberGhost: This VPN is easy to use and has a great price point.

## Do I need a VPN for Reddit?

So, you've decided to start using Reddit for crypto. That could be a good decision.

Reddit is among the most popular online platforms, and it's a great place to find information on all things crypto.
But there's one question you may ask yourself: do I need a VPN for Reddit? The answer to that question depends on how you plan to use Reddit.

If you're just browsing the front page and some of the more popular subreddits, then you don't need a VPN. But if you're going to be browsing more obscure subreddits, or if you're going to be posting links and comments, then a VPN is a good idea.

## How to use Reddit for crypto

Here are ways you can get the most out of Reddit for your trading and investing activities:

1.	Use multiple subreddits. Don't just stick to the /r/cryptocurrency subreddit. There are dozens of other subreddits (including /r/bitcoin, /r/ethereum, and /r/ltc) where you can find valuable information and discussion.
2.	Use the search bar. The search bar is, obviously, a good way to find specific information on Reddit. For example, you can search for posts about a specific cryptocurrency or related topics.
3.	Be patient and take your time. Don't make snap decisions based on the information you find on Reddit. Always do your own research and make sure you're fully informed before investing in any cryptocurrency.
4.	Use IRC: IRC (internet relay chat) is a great way to connect with other users in real-time. You can find a list of IRC servers here.

## What are the best subreddits for crypto?

With thousands of active users and a wide range of topics, it can be tough to know where to start. Here are some popular subreddits for crypto.

/r/cryptocurrency is the obvious starting point, as it's dedicated to everything crypto. Here you'll find news, discussions, and reviews on all things crypto.

If you want more focus, check out these subreddits:

/r/bitcoin - This is the go-to subreddit for everything [Bitcoin](/coins/btc)-related.
/r/ethereum - This is the main subreddit for Ethereum news and discussion.
/r/ripple - This subreddit is devoted to Ripple news and discussion


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