Regalcoin (REC) Price

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.

RegalCoin Wallet

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.

Mining RegalCoin

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:

DateOpenHighLowCloseVolumeMarket Cap
5/30/20183.493.573.253.38183791000064795600
5/29/20183.133.523.043.49164520000058926800
5/28/20183.483.553.093.1182997000059873300
5/27/20183.553.553.433.48186526000059583000
5/26/20183.593.693.493.54188638000059082100
5/25/20183.793.813.513.6199341000065838800
5/24/20183.513.793.43.77184766000066549500
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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.

Disclaimer:

"The Reserve Bank of India (RBI) and Ministry of Finance has frequently cautioned the users, holders and traders of virtual currencies regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with virtual currencies. RBI also further clarified that it has not given any licence/authorisation to any entity/company to operate schemes or deals related to Bitcoin or any virtual currency. RBI has also barred its regulated entities from dealing or providing services to any individual or business entities dealing with cryptocurrency. The Ministry of Finance has also officially stated that virtual currencies are not legal tender or coin.

A&A Dukaan Financial Service Private Limited (“BankBazaar”) does not endorse investing or dealing in virtual currencies in any manner. The information provided on our website is solely for illustrative purposes and should not constitute investment advice or assistance in investing or dealing with crypto currencies. If you decide to invest or deal in cryptocurrencies, you should be aware that you will be dealing with the respective individuals or business entities dealing in cryptocurrency and BankBazaar has no role in any manner in such transactions or dealings. We strongly advise our visitors to invest in legally recognised financial instruments rather than risking their capital on virtual currencies which are unregulated instruments."

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