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Remitano mainnet launch expected in September, mandatory KYC verification for holders

Remitano a cryptocurrency exchange platform has announced a requirement for its RENEC-mined token transfer to the MainNet.
For the RENEC miners to be eligible to transfer their mined RENEC from the wallet to the main net, holders are mandatory to complete Know Your Customer (KYC) level 2 verification.

The announcement stated that this is necessary to ensure the transparency of the Remitano Network Blockchain when the main net launches.

The Remitano MainNet launching is expected to happen by the end of September 2022 after the RENEC mining period was extended by three months earlier on July 1.

This KYC level 2 verification is applied to those who earn RENEC through the source listed below:
  • RENEC earn from your solo mining power or airdrops from remitano's marketing programs
  • RENEC earn from the RENEC ambassador program: eligible to transfer to the main net when the downlines, from whom you receive RENEC commission, have finished KYC level 2 verification. At the same time, you also have to finish KYC level 2 verification either.
  • RENEC earn from rewards when there is a downline who finishes KYC level 2 verification: eligible to transfer to the main net when you have finished KYC level 2 verification.
  • RENEC rewards when you register an account via any referral link.
Also, completing the KYC level 2 verification requires the holders to use any of the following documents:
1. International Passport
2. Driver's license 
3. National ID Card
4. Voter's Card

After the main net is launched, the holders will be able to see the eligible/ineligible RENEC sources that are transferable to the main net. For a smooth transition, holders are advised to complete the KYC and also encourage their downlines to do the same.

According to the announcement, the ability to transfer RENEC to the main net remitano network Blockchain indicates holders can transfer RENEC from the Remitano wallet to other crypto wallets, stake and use for RENEC to pay for transactions on the Remitano Network Blockchain.

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