Converting Reddit Moons to Crypto or Cash
If you still have some r/CryptoCurrency Moons (MOON) from Reddit’s crypto reward scheme and want to convert them into crypto or cash, you only have this week to do so. Launched in 2020, MOON is a cryptocurrency running on Ethereum’s blockchain and was awarded to contributors of the cryptocurrency section of the social media site.
Last month, Reddit announced it was scrapping the reward scheme, causing the price of MOON to drop nearly 70% in the past 30 days. As of this week, users won’t be able to send the tokens within the app, but there is still time to back up their seed wallet and put their MOON in another wallet (MetaMask is the best bet) where the asset could be converted into something more valuable.
Initially, converting MOON to cash was a convoluted and risky process. However, it has now become more mainstream and was even listed on top American crypto exchange Kraken in August. Kraken has a convert feature where one can swap between major coins, tokens, or fiat currency with a MetaMask wallet.
Another option is using Crypto.com, where users can exchange their MOON for U.S. dollars. RCP Swap allows exchanging MOON for stablecoin USD Coin by connecting a MetaMask wallet. Gate.io, Sushiswap, MEXC, Bitrue, and CoinEx are also platforms where MOON can be swapped for stablecoins or Ethereum.
Hot Take
If you have some leftover r/CryptoCurrency Moons from Reddit’s now-defunct reward scheme, don’t miss out on converting them into something more valuable before it’s too late!
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