Got lost in the abundance of information about Bitcoin, digital currency, blockchain technology!? IneChain rating will help you to easily identify different news from different media sources, - so you can get the full picture and choose the right way to making money! Still not a millionaire?;)

Fast and Trusted reading best crypto news online at inEchain feed!

Remitano launches RENEC as its own native token

Remitano launches RENEC as its own native token

Global peer-to-peer crypto exchange Remitano is currently developing its native token, RENEC, to improve the quality of services delivered to customers, reduce transaction fees and ensure secure and swift transactions. While Remitano Network is still in the development phase, it has provided an amazing opportunity for old and new Remitano users to earn free RENEC. 

What is RENEC? 

RENEC is an abbreviation of Remitano Network Coin and is the token of Remitano Network, a blockchain designed to facilitate quick transactions at a reduced fee as a fast, decentralized exchange with efficient escrow in place. The launch of the RENEC token was announced on June 30, 2021.

What makes RENEC different?

Remitano Network is not a single blockchain, but rather a set of blockchains. The initial network will be a simple value transfer one, similar to Bitcoin (BTC) and Litecoin (LTC), but with a more efficient consensus protocol and faster block time. At this stage, RENEC will be called Remitano Electronic Cash.

RENEC will also be the base currency for the token decentralized exchange and the decentralized fiat-token escrow that will be built on Remitano Network. With RENEC, crypto swap and P2P trading fees will become cheaper. 

Remitano commits to delivering the first three products for Remitano Network as follows:

1. Low fee decentralized P2P electronic cash with multisignature capability.

2. Low fee decentralized tokens exchange.

3. Low fee decentralized escrow service.

After that, Remitano will work closely with the community in order to build other blockchain products.

As Remitano Network is designed to be scalable, new products will be built on it, consequently increasing the value of RENEC. 

Check out the official RENEC white paper to learn more about this token. 

How to own RENEC?

Because Remitano holds its investors and traders in high esteem while also reducing risk, Remitano will not hold any initial coin offering for RENEC. It is different from other ICOs where investors have to pay Ether (ETH) or Bitcoin to secure a specific amount of the coin. Instead, RENEC will be given out freely to both new and old Remitano users through mining. 

For now, Remitano only allows mining through the Remitano mobile application. As such, you need to install the Remitano app to begin mining RENEC with the tap of a button. 

Four easy steps to mine RENEC:

Download the Remitano app on Google Play Store or the App Store. 

Register or log in to the app.

From the displayed menu list, click on “Mining RENEC.” This should take you to the mining page.

Click on the “Mine RENEC” button to start mining.

Eventually, it will show the progress of your mining RENEC as in this image:

Users must have registered an account with Remitano and verified their phone number to be eligible to mine RENEC. Mining RENEC is not automated so once you already have the app, you would have to log in to your account every day to mine RENEC. 

A user can mine up to 0.02 RENEC per hour depending on the level of verification. Complete up to level two of verification to increase your mining power. You can also boost your RENEC rewards through Remitano referrals. When your referrals mine successfully, you earn 20% of their mined RENEC. 

Visit the definitive guide of RENEC tokens here.

Remitano will continue to build products on the RENEC network, which would give RENEC a lot of utility and usage. Also, the fact that Remitano is a popular escrowed P2P cryptocurrency exchange in multiple countries across the world, the value of RENEC is likely to increase with time. This is why you should try and get the token now that it is free.

About Remitano

Remitano is one of the largest P2P cryptocurrency trading platforms in the world, currently serving users in more than 30 countries. The platform provides an escrowed P2P crypto marketplace that allows users to buy Bitcoin and cryptocurrency easily and safely. Remitano is a market leader in the P2P platform space, featuring an intuitive, user-friendly interface and 24/7 customer support, boasting some of the lowest fees in the industry.

For any questions, please reach out to Remitano via:

Email: marketing@remitano.com

Socials: Facebook, Twitter, Instagram

from:

cointelegraph.com
date of publication icon 22 Sep 2021 icon of time needed to read the article 3 min read
Rate it!