What is the RENEC token? How To Mine Renec Token For FREE - What is RENEC? How to mine RENEC and what is its potential? How To Mine Renec Token For FREE
At the end of June 2021, Remitano launched its first token called RENEC. And currently allowing users to mine this coin for free. So what is RENEC? How to mine RENEC and what is its potential? Let's find out together in the article below.
What is the RENEC token?
RENEC is the abbreviation of Remitano Network Coin - the official token of the Remitano Network. This is a Blockchain designed to make it possible for investors to transact quickly with cheaper fees, secure escrow and execute complex smart contracts using the RENEC token. Currently users can only earn RENEC through mining on the Remitano exchange.
Future Potential of RENEC Token
Remitano commits to deliver the first 3 products for the Remitano Network as follows:
- Low fee decentralized P2P electronic cash with Multisig capability
- Low fee decentralized tokens exchange
- Low fee decentralized escrow service
Remitano Network is developed on a clear long-term roadmap and plan, with the goal of developing products in the ecosystem, thereby adding more value to RENEC.
Although newly launched, RENEC has received the attention and support of a large community of crypto investors.
In particular, the limited supply of tokens (depending on the number of RENEC tokens mined in the first year) helps users feel secure to own high-value coins thanks to the guaranteed supply-demand factor.
Basic information about RENEC token:
- Token: RENEC
- Blockchain: Remitano Network
- Protocol: Delegated Proof of Stake (DPoS)
- Token Type: Utility Token
- Base Mining Power (solo): 0.02 RENEC/hour
- Supply: The supply will be decided as a result of the RENEC mining program
How To Mine Renec Token For FREE:
Remitano only supports mobile app mining; so, if you haven't downloaded the Remitano app yet, download the Remitano app.
Step 1: Register for a Remitano account as a user:
Step 2: Then select “Account Verification” from the menu and verify the phone number.
Step 3: From the list of menu that is displayed, click on “Mining RENEC”. This should take you to the mining page.
Step 4: Click on the “Mine RENEC” button to start mining.
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 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 2 of verification to increase your mining power. You can also boost your RENEC rewards through Remitano referral. When your referrals mine successfully, you earn 20% of their mined RENEC.
RENEC commission bonus from referring friends:
For each person who successfully registers a Remitano account through your referral link, completing the lowest verification Level 1 (verifying phone number), and also mining RENEC you will earn 20% of the total number of RENECs they mined.
Example: You refer 400 users to register to the exchange, 100 out of 400 complete document verification, 50 of these 100 people conduct RENEC mining, 50 out of 400 complete verification phone number and also tapped. So, the total amount of RENEC you get from referrals within 24h is: 7.2. The specific calculation is as follows: ([50 * 0.02 * 24] + [50 * 0.01 * 24]) * 20%.
Note that Remitano Network will suspend this mining after Remitano Network is started. Therefore, you need to take advantage of this time to participate in mining, to avoid missing attractive opportunities.
