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How To Mine Remitano Network Coin: RENEC Review

How to mine Remitano Network Coin: RENEC Review is an evaluation of RENEC, the Remitano Network’s native token.

With the debut of its RENEC token mining, Remitano made the transition from centralization to decentralization.

Here in this post how to mine Remitano Network Coin: RENEC Review is every detail you need to know about RENEC and how to mine remitano network coin.

What is RENEC?

What is Remitano Network Coin (#RENEC)? - YouTube

The Remitano Network Coin is abbreviated as RENEC. It was founded in July 2021 to aid with the network’s decentralization.

And, as you may be aware, Remitano is a leading centralized peer-to-peer exchange.

However, in the blockchain world, decentralization (rather than centralization) is the rage. There is no need for a middleman in a decentralized network.

As a result, it is a reliable system that decreases the danger of fraud.

Furthermore, transactions are confirmed more quickly, and users retain control over their funds.

As a result, it’s not surprising to see Remitano migrate to a Decentralized Network.

The Remitano Network aims to offer a variety of blockchain solutions.

What Does RENEC Offer?

RENEC TOKEN - Nigerians can Mine Easily on their Phones for Free

The following solutions are at the top of the list

  • Low Fee Decentralized P2P — This will make it easier for users to transfer RENEC and wrapped tokens.

  • Decentralized Token Exchange — aims to make it simple and inexpensive for users to swap tokens.

  • Decentralized Escrow Service — This will enable secure fiat-to-crypto transactions.

  • Users can create smart contracts using this system, which is similar to the Ethereum blockchain. RENEC will also be responsible for paying for gas.

Isn’t this just cool? All four products will be available to RENEC holders, with more to come.

Furthermore, each of the four items listed above will be governed by a distinct blockchain on the Remitano network.

However, keep in mind that these blockchains are still in the works.

The most essential aspect of RENEC is that it will enable cross-chain interactions.

That is why you must get your hands on it right now.

How Can I Get RENEC?

To obtain RENEC, you must mine it.

Don’t worry, this isn’t bitcoin mining, which necessitates the use of pricey computers.

The only computer you’ll need to mine RENEC is your smartphone. Yes, it’s the type of mobile mining that we see in Pi, Tau, Bee, and other games.

How To Mine Remitano Network Coin

Leading crypto exchange, remitano launches its native token - RENEC —  Features — The Guardian Nigeria News – Nigeria and World News

To mine RENEC, follow these steps

  • Go to the Remitano App and sign in.

  • Sign up for Remitano if you don’t already have it.

  • Then launch the program that you downloaded from the Play Store or App Store.

  • Remitano is an app that allows you to send money to people in other countries.

  • Select Log in/Register from the menu. Select your preferred method of logging in

  • Login to Remitano

  • After you’ve logged in successfully, you’ll be asked to verify your phone number.

  • Simply key in your phone number and the code that will be sent to your phone in the fields given.

  • From the menu, select “Mining RENEC,” then scroll down to “Start Mining.”

About RENEC Mining

Nigerian users can now mine RENEC Token for free on Remitano - Nairametrics

RENEC is a mining company. To continue mining, return every 24 hours and touch the same buttons.

Important note: All tokens you’ve mined will be airdropped to your wallet before the main net launches.

To ensure a fair distribution and restricted availability of the token, any coins remaining after the airdrop will be burnt.

By then, who knows how wealthy you’ll be in RENEC?

When you click on ‘Mining RENEC,’ you can always see how much you’ve mined from the ‘Your RENEC balance’ option.

You may also see it on your Dashboard in the ‘Remitano Network Coin’ Wallet.

How Can I Earn More RENEC?

Claim your FREE RENEC Token

Surprisingly, there are two ways to increase your RENEC earnings

  • Increasing the level of your verification

  • Friendship RENEC Commission

Increasing Your Level of Verification

Your earnings are calculated every hour while you mine this coin. Your solitary mining power is what it’s called.

The amount you earn is determined by your degree of verification.

Phone number verification is the first level of verification and is required to mine RENEC.

You will earn 0.01 RENEC each hour at this level.

By increasing your verification level, you can enhance your mining power.

Level 2 verification asks you to upload a relevant identity document such as a national ID, e-passport, driver’s license, or other similar documents.

Miners at level 2 earn 0.02 RENEC every hour.

Friendship Commission For RENEC

RENEC commission from friends is the name of the second reward. Referring your friends to mine will win you extra tokens.

You’ll get 20% of whatever the person you invited earns once they start mining. For instance, suppose you invited ten people.

Five of them have passed Level 1 verification and are currently mining RENEC.

This translates to a daily income of 1.2RENEC (0.24*5).

Assume the remaining five have completed level 2 verification and are mining the token.

Every day, that equates to 2.4RENEC (0.48 * 5)

Every 24 hours, your pals collectively mine 3.6RENEC (1.2 + 2.4).

As a result, in addition to whatever you are mining on a daily basis, you will receive 0.72RENEC (20% of 3.6)

The way it works is that you use your referral link to convince your friends to sign up with Remitano.

They will then proceed to download the program in order to begin mining RENEC.

You’ll start earning commissions from them after that.

For the time being, you can only obtain RENEC by mining on the Remitano Mobile App (August 2021). It isn’t available for sale anyplace. Don’t fall victim to a con!

Well, another question may come to mind that’s, does this token have a promising future?

Where Does RENEC See Itself in the Future?

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This coin, in my opinion, has a promising future. The native token for the Remitano network’s products will be RENEC.

When the products are released, the RENEC tokens’ use case becomes apparent.

The stronger the token is predicted to get as more users and products are added.

The funds can then be transferred to a user’s bank account by exchanging their tokens for other currencies.

The RENEC token does not have any monetary value until at least one of the items is launched on the main net.

The first main net is expected to go live in the second quarter of 2022.

In addition, the development team plans to collaborate with the community to build more products.

The development fund will be managed by a committee. RENEC holders shall elect the members of this committee.

Frequently Asked Questions

10 RENEC FAQs Answered Simply!!

1. Why Should I Mine RENEC?

To begin with, mining this coin demonstrates that you have faith in the Remitano Network’s development team.

You’ll also have as many coins as possible, which you can use to make transactions on the platform later.

Furthermore, owning the tokens gives you a say in how the network operates. Superb!

2. What is The Value of a RENEC Token Unit?

This coin has no economic worth at the moment.

However, given its intended purposes, we can anticipate it to farewell.

All you have to do now is mine as many RENEC tokens as possible and convince your friends to join you.

Mining will also come to a stop once the main net is launched.

3. How Many RENEC Can I Buy?

To begin with, mining this coin demonstrates that you have faith in the Remitano Network’s development team.

You’ll also have as many coins as possible, which you can use to make transactions on the platform later.

Furthermore, owning the tokens gives you a say in how the network operates. Superb!

4. What is The Value of a RENEC Token Unit?

This coin has no economic worth at the moment.

However, given its intended purposes, we can anticipate it to farewell.

All you have to do now is mine as many RENEC tokens as possible and convince your friends to join you.

Mining will also come to a stop once the main net is launched.

Conclusion

There you have it, everything you need to know about the Remitano Network’s Coin. You can now make a more informed decision whether to buy or not.

Hopefully, how to mine Remitano Network Coin: RENEC Review was helpful.

However, if you have any questions regarding the project’s viability, feel free to ask via the comment section and we will be glad to respond in no time.

Don’t forget to like and share too. 

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