Reddcoin, the social media coin. That is the value proposition. Simple, yet powerful. A way to tip content creators on different social platforms that is both technically easy and can be used in a multiplatform environment. If the vision is fully realized, things like Patreon, or the Twitch beads would be replaced by a single payment option, RDD, allowing anyone to easily transact with across different sites.
Of course, it's not that simple. The project also allows for attaching a public key to a digital identity like your nickname, making it a breeze to do its job. Instead of sending RDD to a standard address, a username is created and then attached to an address, making it easier to send and receive payments. Twitter or Youtube would allow you to one-click tip a content creator (much the same way platforms like Steem do, except for them it's only on the content created for their platform).
The project is indeed very ambitious, but it needs to jump a lot of hurdles to realize its full potential. This makes any Reddcoin investment highly speculative in nature, at least for the time being.
You can buy Reddcoin in a relatively small number of exchanges, although some very liquid ones are included in this group. The option to buy with fiat is available through an exchange that counts Paypal among its depositing options.
It features its own wallet as it is to be expected with a long standing project. On top of that, several options like mobile, paper, and cold storage are available in different forms. Various tutorials show multiple ways to store it on the top hardware wallets.
Bear in mind RDD is now a proof of stake coin (started out with the Scrypt POW) meaning there is a special staking wallet available that allows investors to generate dividends in the form of more Reddcoins at a rhythm of 5% per year. An interesting option for passive returns that merits further examination.