Regalcoin launched in August 2017. The Initial Coin Offering (ICO) started on August 22nd and lasted until September 22nd, 2017. Regalcoin is designed to work just like any other cryptocurrency and is used to transfer and store value. Regalcoin is catered to trading in the following sectors: arts and collectibles, charities, dining and groceries, electronics and mining, gaming, ebooks, gift cards, prepaid tokens, health and beauty, hosting, VPS and VPN, tours and travel, and lifestyle.
Interestingly, Regalcoin has no affiliation with any company, platform, service or product. The founder or even where the company is based is unknown. However, tweets from Regalcoin’s official Twitter account give hints that the company may be based in Hong Kong.
Technology of Regalcoin
Regalcoin utilizes the Dashcoin X11 algorithm, a widely applied hashing algorithm engineered by Evan Duffield, a developer belonging to Dash core. X11 algorithm is known to be one of the safest and most sophisticated cryptographic hashes. It increases the difficulty of creating ASICs, and this is a necessary factor in giving the currency sufficient time to develop.
How Does Regalcoin Work?
Regalcoin runs a multi-level marketing program. Here you earn income by just referring people to the Regalcoin platform. For this reason, you are likely to come across many positive reviews about the currency, especially from individuals who want you to purchase Regalcoin via their affiliate links.
The other approach Regalcoin uses is a lending platform. This program is convenient for investors who don’t want to trade actively or those who don't want to be always worried about their investment returns. Here an investor loans his/her coins to an automated trader, a Regalcoin bot, for a percentage of daily returns.
Regalcoin also features a network meant to support online businesses. The program invites online companies to use Regalcoin as a digital payment tool in their transactions. At the same time, make it easier or convenient for their users to make payments online.
Process of Staking
To stake for Regalcoin, you need to sign up for a Regalcoin wallet, download it, open the wallet, and encrypt it. After encryption, the wallet will close automatically. Therefore, to stake you will need to unlock the wallet. The minimum stake age is 15 days while the maximum stake age is 90 days.
Regalcoin can be sent anywhere anytime within seconds. All you need to have is a smartphone and a reliable internet connection.
Regalcoin transactions are free. However, to speed the process up, you will be required to pay a transfer fee. The good thing is that you can activate transaction fee limits for whichever amount of coins you want to send.
Popularity and Market Response
Finally, let’s have a look at Regalcoin’s reputation and general market response. Initially, Regalcoin was met with a lot of skepticism. The fact that it is not clear who owns it raises questions, with some reviewers suggesting it may be a Ponzi scheme. Despite all the naysay, the Regalcoin one-month (22nd August 2017 to 22nd September 2017) ICO process was a success. The token started at $0.85, gradually increasing to $0.97 by the sale of the last ICO coin.
General speaking the market will continue being kind to Regalcoin mainly because of the popularity of its lending program. The more lending that happens, the lesser the number of coins in the market. Fewer amounts of coins and increase in demand will sure boost the Regalcoin price.