RegalCoin is an online platform which is used as a cryptocurrency platform and also as a staking platform. It is a virtual currency that is very similar to Bitcoin. As with all cryptocurrencies, RegalCoin is also decentralised, allows anonymity in transactions, and has a limited supply of coins.
What is RegalCoin?
The currency of RegalCoin is denoted as REC. The website for the currency also indicates that the coin can be bought as R7 and RCH. RegalCoin is a peer-to-peer exchange platform meaning that there is no single server that all transactions go through. This ensures that the anonymity of the transactions is preserved. RegalCoin promotes itself as an easy-to-use and easy-to-transact cryptocurrency. One the main points that their website mentions is that the transfer fee is either very small or sometimes even zero in order to encourage more adoption of their coin. Also, the website promotes RegalCoin as a cryptocurrency that will be easier to buy or obtain compared to Bitcoin.
Where to buy RegalCoin?
According to the website of RegalCoin, the best way to buy the coin is to first register on the coinexchange.io website. This is a prerequisite to buy the coin. After registering on the website, a Bitcoin Deposit address will be given, and Bitcoin has to be deposited to that address. After this, it will be possible to buy R7 (RegalSeven), REC (RegalCoin), and RCH from the website coinexchange.io. Once a person completes these steps, he or she can then trade RegalCoin. It is possible to buy and sell the coin on coinexchange.io.
The wallet for RegalCoin is available for Windows and Linux systems with Mac, Apple AppStore and Google PlayStore versions coming up. The wallet generates a new address each time any user performs a transaction. This address is called the RegalCoin address and this is what is required by a person sending coins to you. There are transaction fees included which can be viewed by the user. The fee is dependent on the size of the transaction. Also, the entire transaction can be completed in 12 minutes and can be viewed in your personal transaction feed.
The maximum supply of coins is 27 million. At present RegalCoin can be mined by PoS method. This is a Proof-of-Stake Method. This can be done by first registering one’s account on regalcoin.co. The next step is to buy RegalSeven (R7) from coinexchange.io. The RegalSeven bought has to be deposited in a given deposit address. Next, the user has to view the Staking Menu and input the amount that he or she wishes to stake. According to regalcoin.co, this will earn the user profits over a monthly and a yearly period. There are also RegalCoin affiliate and network programs that offer bonuses with different levels. Network bonuses can be earned weekly.
RegalCoin price trends
As of 10th May, 2018, one RegalCoin was worth about $0.05 (USD). The price trends for RegalCoin indicate that the prices spiked in the initial months since its introduction. This spike resulted in the price going over $80 (USD) but the price then swiftly dropped off. Given here is a historical price trend:
Risks associated with RegalCoin
There is no whitepaper that has been published by the creators of this coin. Also, there are affiliate marketing programs involved in this. Referral bonuses are also offered. There seems to be no solid mining pool associated with this coin. Therefore, it could be considered quite risky to invest in RegalCoin. It would be better for an investor who is looking at good returns on their investment to try investing in mutual funds instead. This would offer a good return on investment while reducing the risk. Cryptocurrencies are under threat of being banned by governments around the world. If this happens, then the investor could find themselves losing their money. Mutual funds have been approved by governments and are not in danger of being banned. As always, it would be best for the investor to make their own studies before investing their money.