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Can You Mine Crypto on Your Phone for Free? A Look at NODL (Nodle Cash) & RENEC (Remitano Network Coin)

Two common questions I get asked are:

  • Can you mine crypto on your phone?
  • Can you mine crypto for free?

This guide tries to answer those questions with a close look at a look at NODL (Nodle Cash) & RENEC (Remitano Network Coin)

Firstly, you might be wondering what is Remitano, let alone RENEC, or how to mine from your phone? You might also be wondering how is it possible to get crypto for free? For this last part, we cover free crypto in a lot more depth here. In this guide, we are focusing on mining crypto from your phone for free. So lets begin. 

Until yesterday, RENEC (or Remitano Network Coin) was new to me. It was something I had presumed to be a scam when I saw somebody on Facebook providing a referral link saying that you could mine RENEC from your phone. They were also making the claim that this was an opportunity not to be missed, commenting that this was similar to Binance Coin in the early days.

So, having done more research, and in light of our recent crypto referral codes page, I thought this was worth a special mention.

Before saying any more, I need to add a very firm disclaimer that I have NOT used Remitano personally to buy or sell crypto. I only signed up for an account yesterday to discover how the exchange worked and whether this was legit. I have only done basic checks and testing, which so far, has been positive. However, I can’t advise any further than this and I’m certainly not advocating that anybody use the platform at this stage, other than maybe mining some free RENEC from their phones.

Firstly, can you mine crypto on your phone?

Yes and No. I’m a huge fan of crypto and always on the hunt for new and exciting projects. One of my favourite crypto initiatives is an IoT project called Helium (more on Helium and mining HNT here).

Using Nodle Cash to mine NODL from your phone

What is Nodle Cash?

Shortly after I discovered Helium, a friend mentioned another IoT initiative called Nodle Cash, which uses your phone’s Bluetooth connection to connect to other devices and mine NODL, the native token of the Nodle network.

The app can be downloaded here for Apple and here for Google Play. The reviews are good at around 4.5/5 and both apps have a large number of downloads.

On Google Play, the App specifically says:

“Nodle Cash app is a revolutionary way to earn cryptocurrency on your smartphone

Nodle Cash - can you mine crypto on your phone

Nodle Cash – can you mine crypto on your phone

Another statement on the website is:

“Earn cryptocurrency while securely connecting devices around you”

The concept of mining or earning crypto on your existing phone, essentially for free, seemed exciting but too good to be true. I wondered if it was a scam.

I did some basic research and couldn’t find anything to suggest this was a scam. The reviews were good, the website and app well designed and it seemed to be popular. Well, why wouldn’t it be popular? No upfront expenditure and you can mine for free on your phone. The following Reddit thread is interesting as it compares Helium to Nodle.

How much NODL have I earned?

I’ve now had the Nodle app running on my phone for over 1 year and have accumulated…. wait… the grand total of 24 NODL. You might wonder what that’s worth, $0.1, $1,$1,000, $1,000 or more? The answer is that I have no idea because it can’t be used currently.

Nodle Cash App - NODL mined using my phone

Nodle Cash app showing the amount of NODL mined using my phone

Nodle Cash app showing the main UX scanning for devices

Nodle Cash app showing the main UX scanning for devices

That said, since I last checked the website, there seems to be a lot more information around monetisation and how the network will be used. The following page, https://www.nodle.com/nodl, explains that there is a maximum supply of 21 billion NODL and that it is a utility and governance token distributed every 6 seconds to the Nodle Network participants. The site goes into a lot of detail, which makes it seem as though this project may have legs.

Is NODL worth anything?

My main gripe is that the website and app constantly claim that it allows you to earn cryptocurrency. I guess it all depends on your definition of a cryptocurrency, but if you can’t spend or trade it somehow (e.g. on an exchange), what’s the point? The best information I could find to answer this was buried on the https://www.nodle.com/faq page:

What can I use Nodle Cash for? Currently you can send payments / requests to your friends or keep it for the future”

How do I cash out? Nodle Cash has only been live for a short period of time and has not been listed on a cryptocurrency exchange. Stay tuned for updates! We are working on ways to make Nodle Cash more useful for our user”

The app is very basic and seems to serve a single purpose. It’s important to realise that, unlike Remitano, Nodle Cash is not an exchange. You can monitor your balance and send/receive NODL with friends but nothing more. At the moment if feels a bit like a toy or novelty item, but there seems very little risk in getting involved.

Taking everything above on board, the Nodle Cash app is definitely worth a look. To answer the question, can you mine crypto on your phone? I would be inclined to say yes but the future value of NODL is yet to be seen.

Using Remitano to mine RENEC from your phone

I’ll go into a lot more detail about both Remitano and RENEC in the following sections.

However, the first point to note is that Remitano is an exchange and has been established since 2015. RENEC is its native token. Neither are related to NODL or IoT.

What is Remitano?

Much like the popular exchange Binance, Remitano is based in Seychelles and provides an exchange-like service that would be better described as a marketplace for buying and selling crypto using escrow.

Although Remitano was unknown to me until yesterday, it is claimed here that Remitano has more than 1.5 million customers across more than 30 countries. From my own research, I could see that the platform is well-reviewed on many sites with 4.5+/5 or more ratings. Whether these reviews are all genuine is a question for another day.

Other than that, I had never used or heard of Remitano and my only motivation to learn more were the following claims that I had read on a Facebook mining group:

  1. Remitano is a platform much like Binance.
  2. RENEC (Remitano Network Coin) was a token much like BNB (Binance Coin) in its early days.
  3. RENEC is a cryptocurrency that can be mined from your phone

What is RENEC?

After seeing RENEC mentioned on Facebook, the first article I came across was this one from Cointelegraph. My first disclaimer here is that this reads much like a promotional press release rather than independent news. However, I’ve not been able to find a better overview anywhere else.

For convenience, I will just quote some highlights from the above article:

“RENEC is an abbreviation of Remitano Network Coin and is the token of Remitano Network, a blockchain designed to facilitate quick transactions at a reduced fee as a fast, decentralized exchange with efficient escrow in place.”

“Remitano Network is not a single blockchain, but rather a set of blockchains. The initial network will be a simple value transfer one, similar to Bitcoin (BTC) and Litecoin (LTC), but with a more efficient consensus protocol and faster block time. At this stage, RENEC will be called Remitano Electronic Cash.”

“While Remitano Network is still in the development phase, it has provided an amazing opportunity for old and new Remitano users to earn free RENEC.”

How to join Remitano and my personal experience

I found the sign-up process a bit confusing and irritating at the same time.

I downloaded the app, which can be found here for Apple and here for Google Play. Both had good reviews, so this was a promising start. The app download process was painless and I tried to immediately sign up.

The first bit of bad news was forced to attempt multiple email addresses because each one gave me an error message saying that my domain wasn’t whitelisted. I was a bit unnerved by this but decided to jump on to the Live Chat and they were pretty quick to respond. I saw this as a positive. However, their answer was to try again using Gmail. Luckily, I had a Gmail account and this worked.

For those of you who are keen to give this a go, please feel free to use my referral link below or the following code 4740113:

https://remitano.net/renec/gb/join/4740113

I was then very quickly rushed into providing my phone number and verification documents for KYC. I had no issue with adding my phone number and I know KYC verification processes are standard with most exchanges, but this felt a step too far for me at this stage without doing more research and experiencing the platform for myself.

So the next challenge was how to mine RENEC. Being more familiar with Binance and Coinbase, the platform looked confusing to me with options like create your selling ad and create your buying ad. I quickly gathered that Remitano was more like a marketplace than an exchange. However, I still wasn’t sure how to mine RENEC and thought I had been scammed into signing up for a platform that would allow me to mine crypto from my phone. 

How to mine RENEC on your phone

I revised the previous Cointelegraph that explained the steps as follows:

  1. Download the Remitano app on Google Play Store or the App Store – DONE

  2. Register or log in to the app – DONE

  3. From the displayed menu list, click on “Mining RENEC.” This should take you to the mining page – THIS WAS WHERE I GOT STUCK

  4. Click on the “Mine RENEC” button to start mining.

How to mine crypto for free from your phone

How to mine the RENEC crypto token for free from the Remitanio mobile app on your phone

 For a close-up, this is how step 3 looked for me once I updated the app:

Earn RENEC from the main menu

Click Earn RENEC from the main menu

Although I hadn’t completed the KYC checks, I had added my phone number so could start mining straight away.

To do this, I needed to click the “Mine RENEC” button where it now says “You’re mining RENEC” below:

Mining progress screen and next mining time

Mining progress screen and next mining time

As a test, I did a small BNB transfer from my Binance wallet to Remitano. This worked quickly and increased my RENEC balance. I need to stress again that I’ve not even been doing this for more than 24 hours at the time of writing this, so I still don’t understand everything fully. The most confusing aspects of this for me were that:

  1. You need to manually initiate the mining from your phone every 24 hours
  2. I instantly saw a balance greater than 1 RENEC and my balance hasn’t increased since I clicked start mining. I’ve since clarified with Live Chat that your account gets credited with the full amount once per day, as soon as you click “Mine RENEC”. The cycle then repeats when you click “Mine RENEC” the next day. They also clarified that you don’t need to have your phone turned on
  3. This then led me to my final query, i.e. if you’re phone is turned off, how can it mine anything or undergo any kind of work? Again Live Chat clarified this with me by saying “No work is done on your phone. The timer shows the time for you to mine again only”

As you can see below, my account is showing 1.3336 RENEC and this hasn’t changed since I clicked “Mine RENEC”. In the above image, you can see that I still have around 1 hour and 47 minutes to go until I can next click “Mine RENEC”.

Remitano Network Mining Screen

The Remitano Network “Your Mining” screen

I found the whole concept very strange but the nice team on Live Chat pointed me to the following links so I could understand things better:

  1. https://remitano.com/renec/ng/renec-whitepaper
  2. https://remitano.com/forum/ng/post/12710-renec-token-definitive-guide

It’s very easy to get dazzled by jargon and fall for a scam in the world of crypto, but much like Nodle Cash, the documentation seemed very detailed and convincing.

The most important piece of information here is at the very bottom of the article:

Scam Warning: Currently users can only earn RENEC through mining on the Remitano exchange. Users are still not able to transfer RENEC anywhere. So all information about buying, selling, trading RENEC anywhere else is a scam. Everyone should pay attention to be vigilant, learn information from official sources to avoid the risk of unnecessary damage.”

The following information about supply was also interesting:

“The mining program will be announced sometime during July 2021, and is estimated to last around a year, when the first blockchain mainnet is possible, and an estimated of 5 million users have successfully claimed their RENEC token. In case of less than 5 million users have successfully claimed the RENEC token, the mining program and date of mainnet launch can be extended for another 3 months at most.”

Much like NODL, for those of us wondering what RENEC is worth or whether we will ever be able to use it, we will need to wait and see. As of now, neither can be traded nor sold.

All of that said, I’m going to continue to keep mining RENEC from my phone, along with NODL, for the foreseeable future.

Summary: Mining from your phone and NODL vs RENEC

As mentioned above, there is very little in common between NODL and RENEC. In fact, the only commonalities I can see currently are that:

  1. You can mine from your phone for free with both RENEC and NODL
  2. Neither can actually be converted to cash or traded on exchanges 

Essentially, NODL and RENEC are both being presented as native network coins, which are limited to the platforms in question currently, and both in the very early stages of mining and adoption.

So, can you mine crypto on your phone? Yes, as long as you are willing to wait and see whether these crypto projects will be successful and what tokens like NODL and RENEC will be worth in the future.

Interesting in giving it a go? Here’s my referral code for Remitano

I would take caution when using Remitano for trading unless you’ve done your own research. However to mine some free RENEC, please feel free to use my referral link below or the following code 4740113:

https://remitano.net/renec/gb/join/4740113

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