Reddit – a great network of communities for like-minded people – is well known for its content that is based on popular interests. A few years ago, Reddit launched the Reddit Gold feature, which was a premium membership for users and could be used by them to make purchases on the website or to gift other ardent Reddit patrons.
The concept was really popular and accepted by the Reddit community, which led the team to relaunch the Gold feature as new Reddit Premium in the form of Reddit Coins. Reddit Coins are basically a form of digital currency for users to spend on the website.
While Reddit Gold was a premium membership on the website, it was largely used for a variety of additional features as well. These features included access to lounge, private Subreddit reserved for Gold members, the option to turn off advertisements, additional filters for comments on blogs, and a profile badge for Gold members. Third party companies also offered discounts and deals especially to the Reddit Gold members through the Reddit Partners program. Reddit Gold members in turn helped organizations run successful promotions and campaigns internationally.
The New Reddit Premium
Reddit Gold became popular with members as they could enjoy the benefits of the platform without the irksome advertisements and promotions, and an access to extra features that helped support Reddit overall.
Reddit Premium got launched recently and provided the following benefits to users:
- Experience Reddit without the ads.
- Receive 1,000 Reddit Coins upon first becoming a member, then 700 Reddit Coins each month that they are a member thereafter.
- Access the Premium member only Subreddit; /r/lounge.
- Premium Badge on the Reddit profile page.
What are Reddit Coins?
Reddit Coins can be regarded as a brand new virtual currency by the platform that allows users to reward readers (also known as Gilding) for the quality submissions and comments that they make on the member’s profile.
Users can earn Reddit Coins as rewards, which are categorised into the following three segments:
- Silver Award – The silver award is the lowest level award on the platform. It simply displays a Silver Award badge next to the comment or submissions and costs 100 Reddit Coins.
- Gold Award – The gold award is the middle level award on the platform and is also the most popular award. In addition to displaying a Gold Award badge next to the comment or submissions on the platform, it also offers the user one free week of Reddit Premium and costs 500 Reddit Coins.
- Platinum Award – The Platinum Award is the highest level award that a user can gain on the Reddit platform. Earning this award displays a Platinum Award badge next to the comment or submission on the Reddit platform, provides the user with one month of Reddit Premium, and also gives the user 700 Reddit Coins to spend on the website. This award level costs 1800 Reddit Coins.
What Do Reddit Coins Do?
An important question that most users new to the Reddit community usually have is what do Reddit Coins do and why are they so popular? Gilding, or spending the Reddit Coins, on various things available on the Reddit website is a very big part of any company’s marketing strategy and it needs to be factored into the monthly plans.
The following are some of the ways in which Reddit coins can be used in a profitable manner:
- Reward Users for Content Created – Users can be rewarded for their participation and content submission on the website. If a user talks about your product and creates interesting and engaging content around it, you can reward them in terms of Reddit coins. This can go a long way in encouraging them to continue participation and submit more content – which will eventually help you get more visibility and traction in an organic manner.
- Reward Campaign Participants – Reddit coins can be used as giveaways for members who participate in your campaigns and make it a success. They could be creating content, answering questions, providing feedback, or even writing reviews to show their appreciation for your product. All these things together make campaigns successful, and the members making it possible should be rewarded in equal measure. Reddit Coins is an excellent option for such rewards.
- Reward Moderators – Reddit Coins can be awarded to moderators from Subreddits that you feel will benefit you through you participation and submissions. Getting recognized by these moderators can help you get better traction on your created content and speed up the submission and publishing process.
- Offer Gold or Platinum Reward to Contest Winners – In order to drive more users to your Reddit profile and get better exposure, you can announce a major reward in the form of Gold or Platinum Awards for campaigns or contests. You can announce the winners on your own Reddit profile, which can greatly encourage people to follow your profile so they don’t miss such announcements in the future as well.
- Awards for Honest Reviews – Awarding Platinum level rewards to critics for their honest feedback on your profile can give an idea of your mature handling of issues and confidence in the capability of your business. You can resolve and smooth misunderstandings that certain critics might have with your brand by offering awards and making up for their dismal bad past experience.
- Reddit is an extremely popular platform with users all over the world that frequent the website on a regular basis for information as well as for entertainment. In order to become an authority on the website, you must become a part of the set-up and the Reddit community.
Reddit Coins is a great way of getting a head start and quickening the process of adapting to the Reddit culture. Seasoned users on the website are likely to warm up to your presence quickly if you have a verified Gold or Platinum profile. Considering the rewards that tag along with a good Reddit profile, Reddit Coins is an excellent investment to accelerate your rate of success on the platform.