How Mine Renec ( Remitano ) Token for Free Saved My Life
What is RENEC?
RENEC is an abbreviation of Remitano Network Coin. It is the token of the Remitano Network, a blockchain designed to facilitate quick transactions at a reduced fee, a fast decentralised exchange with efficient escrow in place. The launch of the RENEC token was announced on 30 June 2021.
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 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. We will learn more about these definitions in the following sections.
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
- Whitepaper: https://remitano.com/renec/ng/renec-whitepaper
- Mine RENEC: https://remitano.com/renec
So, How to own RENEC?
Because Remitano holds its investors and traders in high esteem while also reducing risk, Remitano will not hold any ICO for RENEC. It is different from other ICOs, where investors will have to pay ETH or BTC to secure a specific amount of the coin. Instead, RENEC will be given out freely to both new and old Remitano users in South Africa and other countries through mining.
For now, Remitano only allows mining through the Remitano mobile application. So you need to install the Remitano App and begin mining RENEC at the tap of a button.
Step 1: Download the Remitano app on Google Play or App Store and register an account
Step 2: Then tap “Verify account” on the menu to verify the phone number (if you haven’t done it yet).
Step 3: Choose “Mining RENEC” in the menu and then “Scroll down to mine RENEC” and tap the button “Mine RENEC” to receive the airdrop.
Step 4: Eventually, it will show the progress of your mining RENEC like this image:
Your solo mining power
- Your maximum mining power as a solo miner is 0.02 RENEC/hour
RENEC commission from friends
You will earn a referral RENEC commission for each person who successfully registers a Remitano account using your referral link, completes at least phone verification (Level 1), and starts mining RENEC. Your referral RENEC commission will be 20% of your downline’s mined RENEC.
Where can I see my RENEC balance?
- Option 1: From the main menu, select “Mining RENEC” The section “Your RENEC Balance” can be found here.
- Option 2: Go to “Dashboard” > “Wallet” The Remitano Wallet is where all of the coins supported by the exchange are stored, including the Remitano Network Coin, are kept (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 referral. When your referrals mine successfully, you earn 20% of their mined RENEC.
Remitano will continue to build products on the RENEC network. This will give RENEC a lot of utility and usage. Also, the fact that Remitano is a very popular escrowed P2P crypto-currency exchange in multiple countries across the world, with time, the value of RENEC is likely to increase, which is why you should try and get the token now that it is free.