What is Rainbow Currency: All You Need to Know

Rainbow Currency is digital money that uses for several types, such as investment and a source of purchasing in Safe Zone (open network of online and offline business) both inside and outside goods and services.

The currency has none of any transaction fees. Not to mention speedy shopping services online and offline, respectively.

In this post, you will get to know what Rainbow cryptocurrency is and how it’s important to the digital business.

Related: How to Buy Crypto Currency Under 18

What is Rainbow Currency?

It is one of the most-sough digital currencies that makes sure that it checks all of the boxes of legit requirements to undertake investment.

Founded by Mike Demarais, Jin Chung, and Christian Baroni in 2019. The motivation of this project is to simplify the advanced technology of Ethereum for non-technologists.

Rainbow Cryptocurrency, or YEM, is on the path to introducing cryptocurrencies to the market where it is currently unutilized. It is based on the Ethereum cryptocurrency. In it, a compatible wallet with the ERC20 standard is also included.

Especially due to Safe Zone, a universal open network of the premium business hosted the rainbow coin that ensues the worldwide economic backup that extends its appeal to the mainstream.

Due to two-wallet protection, the currency is strictly decentralized, impartial, transparent, and secure in the blockchain.  This protection of the two-wallet system offers you a wide range of security with maximum protection to protect your transactions.

Ultimately, payments for shopping and online purchases can be secure, swift, and, most important, without any charges.

On the other hand, the rationale behind this currency design is to discourage shady individuals from trading and shopping via the currency of Rainbow. The precondition of formal identification before any transaction bars any illicit activity from this currency.

What are the basics of Rainbow Currency?

Ethereum blockchain is the cornerstone of Rainbow Currency. Apart from that, there are four different denominations of the currency such as:

1. Rainbow
2. Glitter
3. Twinkle
4. Dan

Nonetheless, the denomination of Twinkle is the official one related to the currency of Rainbow. Further, its value is one of the lowest in the Rainbow coins trading in the open market. Meanwhile, the official symbol of trading is TWNKL.

What Marks the Denominations of Rainbow Currency?

The denominations of the currency signify multiple factors. For one, with the help of these denominations, it is easy to display and understand them.

On the other hand, there are different ways to exhibit high numbers for all currencies globally. They can be in a different sequence. One can be shown in the form of dots for every factor of 1000 with commas leading to separate the figures.

Normally, numbers are simply broken into Rainbows, Glitters, and Twinkle’s denominations. In this way, the calculation of each denomination becomes easy to note down how many Glitters, Twinkle, and Rainbow you possess.

It is pertinent to mention here that a cap of 100 billion coins is put on the number of Twinkles. Instead of this number, no other Twinkles will be produced.

The strong indications are that with many users worldwide utilizing Rainbow currency to select as a medium of payment, the demand for the currency will double without changing the supply chain.

Demand and supply, the major forces of the market, would act as a catalyst to spike the rates of Twinkles. It is the very reason that led to the pause in the prices of Twinkles.

What is the Total Price of Rainbow Currency?

YEM, or Rainbow Currency Foundation, is the mind behind this currency. Moreover, multiple governments are willing to accept digital currency as a replacement for fiat currency.

Exception for different other cryptocurrencies, the circulation of money typically has no connection with any organization. Alternatively, it is a wide-large NGO that specifically represents the currency.

The core goal of the NGO is to build and institutionalize the Rainbow cryptocurrency as a standard mode of payment. These coins, however, are not of much value as of now. The current rate of Rainbow coins for purchase is US$0.0000000006298 for each coin.

Moreover, you cannot purchase or sell Rainbow to any other currencies out there, such as Bitcoin or Ether. Making Rainbow currency uniquely different from other cryptocurrencies.

But it is forecasted that the rates of Rainbow will increase in the coming future to the point it can be easily exchanged with Bitcoin.

Not only that, but YEM is also planning to have a bank where YEM holders can be able to store their digital currency.

The interested parties should include in the Stake program where the amount of 100k YEM should be deposited. After this, YEM can be earned via supernodes by putting it against it.

Where Can Rainbow Coins Be Bought?

The purchase of Rainbow coins can directly occur through various online cryptocurrency platforms. Below are some of the top cryptocurrencies exchange platforms that can easily buy you the Rainbow currencies:

• Bitmart
• Maintain Gate
• CoinMarket Cap
• Binance

Conclusion

Rainbow Coin is one of the few cryptocurrencies that checked all the boxes of the recommended requirements of the German Federal Ministry of Finance related as a potential alternative currency against the Euro.

It is pertinent to mention here that Rainbow currency is not conceived as the currency for means of speculative exchange. Alternatively, it is a smashingly specialized tool that can be used for various types of investment and purchasing goods and other services online and offline in the Safe Zone.

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