Remitano exchange just launched their RENEC token in June 2021, now they allow users to mine RENEC on web and app, how to mine RENEC token on Remitano exchange?
So what is the RENEC token, is it difficult to mine and how is the potential of RENEC, let’s find out through the article below.
What is 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 users 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.
RENEC will be used to pay gas fees for transactions on the network. When swapping coins through RENEC tokens on Remitano Network’s decentralized exchange, users will only have to pay a fee of 40% cheaper than usual.
RENEC Token Basics
- Token: RENEC
- Blockchain: Remitano Network
- Protocol: Authorized Proof of Stake (DPoS)
- Token Type: Utility Token
- Base Mining Power (solo): 0.02 RENEC/hour
- Supply: Supply will be decided as a result of the RENEC mining program
What is Remitano?
Remitano was established in 2015 with users coming from more than 30 different countries, including Malaysia, Indonesia, Cambodia, African countries (Nigeria, South Africa, Ghana…), India, Pakistan, Venezuela,…
This diversity contributes to the trustworthiness of the Remitano and the potential level of the RENEC token.
What is RENEC Mining?
With the desire that RENEC allocation is distributed fairly to the community, Remitano allows users to mine RENEC through “mining Renec” feature, just like Pi network mining, you can mine RENEC once daily with 24 hour cycle. You just need to register for a Remitano account and download the application to be able to mine RENEC for free.
How to mine RENEC token on Remitano exchange?
To participate in RENEC mining, you will need to take the following steps.
- Step 1: Sign up for an account and download the Remitano app
- Step 2: Verify phone number
- Step 3: Mining RENEC on the app or webiste
Step 1: Register for a Remitano account
Firstly, to mine RENEC, you have to register for a Remitano account.
Skip this step if you already have an account, if you don’t have a Remitano account you can register via the link below.
Step 2: Download the Remitano app and verify
Download the Remitano app on your Android mobile device from Google Play or iOS from the App Store. Login to your account.
Verify your account with your phone number. Note: you cannot mine RENEC without verifying your phone number.
On Android devices: From the main menu, select “Earn RENEC” if you are using an Android device. Next, click the “Verify phone number” button at the top of the page, enter the phone number, and enter the OTP code from the carrier message to complete the level 1 verification.
On iOS devices: From the main menu, select “Remitano Network” then follow the similar instructions for Android devices.
Step 3: Scroll down to mine RENEC
Visit the RENEC mining page and click the “start mining” button. You can mine RENEC every 24 hours at a base rate of 0.02 RENEC/hr and a boosted rate of 0.04 RENEC/hr.
You can mine RENEC through the Remitano app on your Android device or a web browser on your phone/tablet, or desktop.
Whenever you click mining RENEC on your web browser, an OTP code will be sent to you from the Remitano application through your mobile phone’s notification system. Therefore, before mining RENEC on a web browser, your must-have conditions are:
- The Remitano app is installed on Android mobile devices from Google Play or iOS from the App Store. Then log in to your account.
- Allow the application to send notifications (notification) to receive OTP codes on the phone’s settings.
How to mine RENEC token on Remitano ?
How to get more RENEC?
The base RENEC mining rate is 0.02 RENEC/hour. However, you can X2 mining speed to own more RENEC in any 1 of 2 ways:
Option 1: Invite at least five (5) mining friends (the invitee must enter mining at least once). When you refer a friend to mine through the referral link, you will receive 20% of the total amount of RENEC that your friends have mined.
Option 2: Make at least one (1) transaction with the following Remitano products: P2P Trading, Swing, Swap. See the first trading tutorial on Remitano.
Where can I see my RENEC balance?
From the main menu, select “Dashboard” > “Wallets”. You will see that RENEC is listed here with its balance. Remitano Wallet is where all the coins supported by the exchange are stored, including the Remitano Network Coin or RENEC.
Note that Remitano Network will suspend this mining operation after Remitano Network is started. Therefore, investors need to take advantage of this period to participate in mining and avoid missing attractive opportunities.
RENEC and Remitano Network Roadmap
Note: The roadmap below is for reference only, Remitano may adjust the roadmap to ensure the quality of the Remitano Network.
Through this article, we hope to give readers an overview of the RENEC token as well as the Remitano Network ecosystem.
There are many successful token exchange projects in the world. The case of Binance Coin (BNB) and the Binance Smart Chain network is a prime example of the success of an exchange token with a solid network foundation.
Considering that frame of reference, and the information from the beginning of the article so far, we can see that RENEC is a token that represents a solid foundation and has a clear direction.
Thank you for reading the article, if you have any questions please discuss with us via the link below.