Remitano is a P2P (Peer-to-Peer) marketplace for Bitcoin and other crypocurrency trading with low fee's, they also use escrow-trading for a safer experience with a customer support open 24/7. Remitano isvbig player on the market when it comes to P2P trading and in a few countrys the main trading website to go to. We're not here to talk so much about Remitano Network itself except go thru the main things you need to know about this network. The purpose of this article is the RENEC token which is the native token of Remitano Network.
RENEC isen't any token you can buy for now and the only way to get your hands on it is to mine it with Remitano's app.
RENEC, What Is It and How Will It Profit You?
RENEC is the native token of Remitano network as told and is the token running on Remitano's blockchain that promotes fast transaction with low fee's. At first will RENEC just work like a payment system exactly like Bitcoin does today but with another consensus which told above promotes faster blocktime (faster transactions) and lower fee's for every specific transaction. During this will another ecosystem develop built on the RENEC token and will be called "Token Decentralized Exchange". A decentralized fiat-escrow will aslo be built by Remitano Network there the RENEC token will have a main role to play this applies to the crypto swap that will be developed to.
RENEC will have a special and central role to play in this three developments built on-top of Remitano Network. Because of trading volumes Remitano promotes everyday, will RENEC not go unnoticed and many people using Remitano will aslo attend on the mining of RENEC as it's free and easy to do. The consensus RENEC will use is DPoS (Authorized Proof of Stake), this because it's consumes little energy to promote a fast transacting and highly scalable blockchain.
The Features Of Using RENEC
We have now talked a bit about what RENEC is and where/how it will be used in the Remitano network's ecosystem. Now to the features and use-cases of RENEC and how it will be utilized. The ecosystem around and built on RENEC will use RENEC as gas (paying transaction fee's and smart contracts) exactly as BNB, Tron, Ethereum and many others are used like in their own ecosystems and DeFi's. RENEC will be a main currency to have if you want to use Remitano's ecosystem and smart contracts in the future when it's developed and ready to use for the public.
The decentralized token trading that will be developed will on-top of RENEC will need a KYC, even tough it's a decentralized system. This according to Remitano to protect everyone using the ecosystem from fraudulent deeds and transactions. If you want to use the escrow service available and yo use RENEC you'll get the fee's 40% lower against if you used any other token.
To expand the utilities of Remitano's ecosystem built on-top of the native token RENEC will the network use a form of cross-chain technology that allows you to get tokens from other blockchains. This feature can you use because of the RENEC token and it's the RENEC token that will be used for you to get other tokens native on other blockchains. The ecosystem around RENEC will probably expand even further after this developments first have be finished which we just are in the beginning of. It will be fun to see how all this develops. But if we look at Remitano and the popularity of it's P2P network can we guess that RENEC will be a very welcomed token for the users of Remitano that will now be able to utilize tokens from other blockchains whitout switching platform of use.
The Mining Of RENEC
The mining of RENEC can only be done from the app and the it's not available on the website. You can get higher returns of RENEC from the mining when you pass the KYC or invite others to Remitano's app. I will explain more in detail how the mining is done.
The mining has a starting mining rate of 0.01 RENEC/hr (for now) that can be upped to 0.02 RENEC/hr if you verify yourself thru the KYC process there you need to provide some form of identification with some notes hand-written with certain sentence and date.
After you have done this can you aslo invite others to the app and mine and get 20% of what they mine to clarify this, is not the 20% taken from the invited's mining amount you only get 20% of that amount from the pool of RENEC tokens. The invited has nothing to lose by using a invitation link but they can have something to win from using a invitation depending of what the inviter has set for commission for him and the invited according to trading fee's.
The inviter can manually set what commission the invited get from trades on Remitano platform (this has nothing to do with the mining). The commission can be set anywhere from 0-40% either for the inviter or invited. The most people will probably set a commission that's fair that will be that the inviter get 20% commission and the invited get 20% commission to. The commission from trading fee's will be paid in USDT for everyone.
Now back to the mining or maybe not, there is actually noting more to say about the RENEC mining, it's simple to use and perform with the simple interface of Remitano.
If you don't want to do a KYC you don't have to, you can still mine RENEC just not in the same rate. Remitano is giving a bonus for those providing a KYC but has a understading for those don't want to, so that everyone can mine it. I will say that mining RENEC will be profitable as it will fuel a whole new ecosystem but you never know just how much anyhow it takes no time to start mining or maintain it for the future. Something important to notice is that every mining session is for 24 hours.
I would love if you used my invitation link and supported my writing here, the commission I have set is 10% for me and 30% for you. Everyone should gain of it. To continue and register at Remitano click here. The app can be downloaded at Google Play which you can enter with log in details after register at website.
Useful Links
Follow my invitation link (you get 30% commission) and register, click here.
Remitano Network website, click here.
Remitano Telegram channel, click here.
Remitano Youtube channel, click here.
Remitano Twitter, click here.
Remitano Facebook page, click here.
Thank you for reading and all support!
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