Rupee (RUP) is a digital currency that aims to offer users in South Asia a way to invest and trade off the blockchain. The name itself is based on the official hard currency of India and has a long history. The hard currency is used and recognized in most of South Asia, and thus, inspired the digital version in form of RUP tokens, which are expected to similarly find their way to a wide community of users in the region.
Rupee offers a proof of work mining. There are over 20 million tokens in supply, with block target being 5 minutes. The currency has been a few years in the pipeline and was launched a second time in 2017. While wallets are available, the ICO is slated for early 2018 when more coins will be offered for purchase. The wallet works with Windows, Mac systems and you might also use your browser to mine the currency. Rupee links to the remittance process that is popular between overseas and resident Indians. It will also enable people to pay for and accept payments for goods and services through the Rupeebase platform.
The coin is currently being traded on major exchanges. About 20% of the coins have been used for raising funds, and the rest will be released soon. A tiny amount is reserved for the promoters. A block of coins offers 50 tokens as a reward. The mining is performed using user computer. It also offers low transaction times and added security.
For investors on the lookout for early bird rewards, the Rupee offers many incentives. The South Asia region has not been adequately represented in the cryptocurrency revolution. The promoters of Rupee hope to change that, and this can open up a new market for investors. Additionally, for users residing in South Asia, or sending money to and from the region, the currency offers a way to reduce transaction fee incurred on regular methods of currency transactions. The Rupeebase platform will enable people to buy and sell goods without the high fee on traditional platforms. Since the name Rupee has high resonance with people in the region, they will find more motivation in using this currency for their needs.
The pre-mine was helped for funding the initial developments, and it is expected that users for the next ICO might benefit from the wallet and other developments while having plenty of scopes to invest in the currency.
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