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renBTC Token (RENBTC): Everything you Wanted to Know before Investing!

renBTC token (RENBTC) is one of the most popular cryptocurrencies in the crypto market (having more than 15,000 cryptocurrencies) currently. In terms of market cap, it is currently the 109th largest digital currency (over US$840.89 million in market capitalizations). Should you invest in it? Is it a good investment? To answer all your queries, let me walk you through the RENBTC coin, how it works, and many more.

What is the renBTC Token (RENBTC)? How does it Work?

RenBTC, an ERC-20 token, is pegged to Bitcoin (BTC). You can redeem 1 RENBTC for 1 BTC. It tends to maintain a value that is close to that of the market rate of BTC. This RENBTC token is built on the Ethereum network and minted on the Ren platform. 

Ren platform is an open protocol that:

  • Provides access to the inter-blockchain liquidity to everyone
  • Helps to bring assets to Ethereum DApps (decentralized applications) from other blockchains

The Ren protocol supports the following main cryptocurrencies:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Zcash (ZEC)

The renBTC coin is Wrapped Bitcoin’s (wBTC) direct competitor. The unique thing about renBTC is that, unlike Wrapped Bitcoin, it is not a synthetic token. It doesn’t rely on liquidation mechanisms for ensuring a 1:1 ratio to the value of bitcoin. Instead, RENBTC has a direct supply peg. This means that enough bitcoin tokens always remain in the reserve for covering the renBTC token’s circulating supply. 

The minting process associated with RENBTC is fairly simple. As a user, you have to send your BTC to RenVM. The asset is secured by RenVM once users send their BTC. Once done, an equivalent number of RENBTC coins are minted on the Ethereum network. 

The redeeming process of renBTC is also simple. You can do it by simply paying a small gas fee to send your renBTC to RenVM, thereby releasing the native BTC to your address. When the reserve reduces, the renBTC coins are destroyed (involving the minting and burning process). This helps in matching with the supply. 

Ren ecosystem (previously known as Republic Protocol) develops RenBTC coin (RENBTC). Taiyang Zhang was the founder and also the current CEO of Ren ecosystem. 

renBTC Token (RENBTC): Facts & Figures

All these facts and figures (as of December 28, 2021) will help you to make a decision on investing in the RENBTC. Before making renBTC coin transactions, check out these facts and figures associated with this cryptocurrency of choice:

  • renBTC RENBTC Price: US$49,354.20 (RENBTC Current Price)
  • 24hour Trading Volume (24h Volume): US$2,476,450
  • All-Time High (ATH) Price: US$99,439.37 (reached on Nov 16, 2021)
  • All Time Low (ATL) Price: US$9,012.08 (reached on Jul 22, 2020)
  • 24h Low: US$49,185.69
  • 7d Low: US$47,828.47
  • 30d Low: US$45,571.12
  • 90d Low: US$41,464.53
  • 52 Week Low: US$26,095.20
  • YTD (Year-To-Date) Return: 68% YTD (Year-To-Date)
  • Market Cap: US$840,884,943 (US$ 840.89 million)
  • Crypto Rank (in terms of market cap): 109th in the crypto market
  • Fully Diluted Market Cap: US$676,018,243
  • Max Supply: 13,698
  • Total Supply: 17,041
  • Circulating Supply: 17,034.17 RENBTC (124%)

If you check the renBTC price chart and price history, you’ll find that since its launch, the price of RENBTC has in fact increased by +440.3%. Since its all-time low, it has bounced back by +447.81%. From its ATH, the current RENBTC price is still -50.35% down. So, before buying RENBTC, you should check the fundamental and technical factors.

Always check out RENBTC markets, the ways to earn renBTC coins, market data, key metrics, comparison tools, and technical price analysis, top cryptocurrency price, and cryptocurrency news before trading or investing. Also, consult crypto financial advisors and get tips from them on trending coins, know the ways of buying cryptocurrencies, and how to earn crypto easily. 

renBTC RENBTC Token Price Prediction

  • According to Wallet Investor, the average price of RENBTC is going to reach around:
  • US$74,521.70 by 2022
  • US$170,067 by 2026

  • According to DigitalCoinPrice, the average price of RENBTC is going to reach:
  • US$79,933.39 by 2022
  • US$88,089.43 by 2023
  • US$99,744.59 by 2024
  • US$95,903.92 by 2025
  • US$137,576.43 by 2026
  • US$172,205.28 by 2027
  • US$210,138.47 by 2028

  • According to Trading Beasts, the maximum price of RENBTC is going to reach:
  • US$55,878.278 by 2022

  • According to GOV Capital, the average price of RENBTC is going to reach:
  • US$209977 by 2022
  • US$433829 by 2023
  • US$652116 by 2024
  • US$1093035 by 2025
  • US$1524099 by 2026

Where can you Buy RENBTC token?

You can buy RENBTC coins in almost all reputed cryptocurrency exchanges including:

  • Binance
  • Curve Finance
  • Uniswap (V3), and many more

You can use credit cards, debit cards, or money transfers from a bank account to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange. 

The most popular price pairs of RENBTC are:

  • WBTC/renBTC
  • WETH/RENBTC, and many more.

Before investing, check out RENBTC history and its historical data, crypto news, RENBTC token price charts, price performance, market updates, RENBTC to USD (United States Dollar) exchange rate, the value of RENBTC, the Bitcoin price trend (as RENBTC is one of the hard forks of the original Bitcoin token), trading fees, and others.

What are the Best Crypto Wallets to Store RENBTC coins?

The best RENBTC cryptocurrency wallets to store RENBTC coins are:

  1. Ledger Wallet
  2. Trust Wallet
  3. MetaMask Wallet
  4. Binance Chain Wallet
  5. Atomic Wallet

Invest in RENBTC token and Other Cryptocurrencies

You can buy and sell RENBTC and other virtual currencies against various fiat currencies (US Dollar USD, British Pound Sterling, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Taiwan Dollar, Russian Ruble, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs or mobile app, and RENBTC token markets. Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility. 

If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit. 

You can also diversify your crypto coin portfolio by including other digital assets such as RENBTC, XMR, FIL, ETC, WBTC, BCH, BTC ETH, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Shiba Inu SHIB, Binance Coin, Dogecoin price, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others. 

Check whether you can exchange renBTC token with the fiat currencies of other countries such as South Africa, Saudi Arabia, the Republic of the Congo, United Arab Emirates, United Kingdom, South Korea, and other countries. Also, check the exchange rate of bitcoin to Ethereum, the concept of smart contracts, Binance Smart Chain (BSC), and others for a better understanding of the crypto and DeFi (decentralized finance) market.

Invest in cryptocurrencies, various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return. You can also increase your income through yield farming, using Telegram bots and other automated trading bots, and many more.

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NapBots provides you with various indices that include a basket of tokens with high market capitalization and is categorized by theme (such as Solana, NFT, DeFi, and others). This platform introduces an intuitive interface as well as advanced allocation tools for enabling new investors to create and manage advanced crypto indices easily.

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