REcoin

REcoin is a cryptocurrency backed by real estate. In fact, it claims to be the world’s first cryptocurrency backed by real estate. Here’s our REcoin review.

What Is REcoin?

REcoin is a real estate-backed cryptocurrency based on the Ethereum blockchain. The currency is preparing for its ICO in August.

The goal of REcoin is to give investors and average individuals a safer, more secure, and superior alternative to storing their wealth in the form of digital currency. It’s a cryptocurrency that can represent a wide range of financial transactions and investment goals.

The security of the currency is based on something reliable: real estate. REcoin has chosen to back its currency on real estate in countries with developed, stable economies like the United States, Canada, the UK, and Switzerland.

With REcoin, investors can access a stable, growing investment vehicle. Investors don’t want to place their money in low-interest rate bank accounts or low-liquidity investment vehicles. REcoin provides another alternative: investors can get exposed to the stable, growing value of real estate while still enjoying the liquidity of cryptocurrency.

The company aims to develop its currency in full compliance and governance with US law. REcoin is led by “an experienced team of brokers, lawyers, and developers”.

Where Will REcoin Invest?

The overall goal of REcoin is to invest in real estate in strong, stable economies. The REcoin website specifically mentions the United States, Canada, the UK, and Switzerland as four such countries. Other stated investment goals include:

  • Investments in properties with a stable income, short sales, foreclosures, and real estate development in the world’s leading economies.
  • No dividends are paid to any beneficiaries, which means that 100% of the net profit from REcoin is reinvested into real estate, minus expenses and maintenance.
  • The society of REcoin holders controls the cryptocurrency and will vote on any investment decisions that have the potential to affect 5% of REcoin’s market value or more.

How Does REcoin Work?

The REcoin ecosystem is based on several key platforms, including:

  • 101news: This news platform is described as a “unique news platform with users gamification”.
  • 101REbid: An online platform that conducts auctions for the sale and lease of real estate.
  • 101CoWork: Internet service for finding and offering real estate services.

The entire REcoin ecosystem is built on the Ethereum blockchain. REcoin uses Ethereum’s blockchain technology, proof-of-work mining, and smart contracts.

Essentially, REcoin users will purchase the REcoin currency as an alternative to storing their money in bank accounts. It converts their money into a more stable alternative: real estate. Investors can enjoy the benefits of stable real estate growth while still enjoying the liquidity of cryptocurrency markets.

However, REcoin is more than just a stable investment vehicle. REcoin can be used for real estate transactions or for everyday online purchases. As the REcoin whitepaper explains, “REcoin is a currency you can use to buy anything you need.” REcoin holders are not just investors: they’re also users.

Advantages Of REcoin

Why would you invest in REcoin instead of conventional real estate investment funds, fiat currencies, or cryptocurrencies? Here are some of the stated advantages of REcoin:

  • Simplifies and speeds up real estate transactions and allows independence from several traditional third parties involved in real estate transactions
  • Lowers the cost of real estate transactions by limiting third parties and increasing their speed, allowing for greater profitability for brokers and agents while lowering prices for buyers
  • Offers a new, international real estate marketplace and facilitates connections for investors, brokers, and real estate sellers

Who’s Behind REcoin?

REcoin is led by CEO and Founder Maksim Zaslavskiy. The coin’s parent organization is called “101LEGO”. 101LEGO is based in Las Vegas, Nevada.

101LEGO appears to operate the REcoin Foundation, which holds all REcoin tokens. There’s also an organization called 101REcoinTrust mentioned in the whitepaper. That organization “is designed to ensure that all investment activities will be in the interest of REcoin holders and centered around the most profitable forms of real estate.”

Charity is an important part of REcoin. 2% of annual mining is given to a charitable organization called Live Love Laugh Global. It’s categorized as an international charitable organization registered in Beverly Hills that claims to maintain branches in 20 countries worldwide. It’s a non-governmental, non-profit, non-religious organization that does not depend on political forces.

REcoin also maintains regional associations of charitable foundations, and distributes proceeds of REcoin worldwide based on the population in that area.

You can contact the makers of REcoin by email at [email protected] or by phone at +1 (702) 359-1047.

REcoin Guarantees

REcoin’s whitepaper and official website makes all of the following guarantees:

  • Activities are in full compliance and governed by US law
  • 100% of proceeds from REcoin sales (minus maintenance costs) are invested into real estate
  • In worst-case scenarios, the REcoin Trust guarantees a liquidity ratio of up to 70% of the currency’s market value
  • The REcoin Purse is secured by “the latest cryptocurrency tools and designed to be user-friendly and convenient”
  • New technical and economic solutions will be developed for the benefit of REcoin users

In terms of the 70% liquidity guarantee, the REcoin whitepaper compares that number to the Federal Reserve’s requirement for liquidity ratios for financial institutions, which is set at a maximum of 10%. Given that, the 70% number for REcoin seems like a safer investment.

REcoin Mining

REcoin has a unique mining system that devotes funds to real estate, individual miners, and charitable organizations.

Mining relies on a progressive formula to program annual mining with increased annual mining rates. A total of 999 x 10^9 coins are created through the mining process over the course of 50 years. Here’s how mining proceeds are distributed:

  • 83% are given to the 101REcoinTrust to be put toward further real estate development
  • 15% are given to REcoin miners
  • 2% are given to charitable organizations

REcoin Conclusion

REcoin is a real-estate backed cryptocurrency based on the Ethereum blockchain. The coin comes with a unique mining system where 83% of mining proceeds are giving to the trust to be put towards real estate investment, 15% are given to REcoin miners, and 2% are given to charitable organizations around the world.

The true power of REcoin will come in the form of its real estate investments. If REcoin can capitalize on low real estate costs around the world (like on foreclosures) while consistently choosing stable real estate markets, then REcoin can give investors a steady ROI. However, like any real estate investment fund, there are always risks.

Visit 101recoin.com to stay updated on the latest news from REcoin and its team.

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1 COMMENT

  1. REcoin is a complete scam. I took some time to research into it a bit and the whole thing is a fake business with any money going to the founder and CEO ‘Maksim Zaslavskiy’. RECOIN is supposed to be a real estate crypto with a whole bunch of different impressive sounding websites and various real estate related businesses being funded by it but when you read the white paper and go to the web site you’ll soon realize that the whole thing is a paper thin front. First off there are no other ‘team members’ other than this one guy…Maksim. No partner companies, no other people such as programmers or anyone with a tech, finance or real estate background. Then, if you read the white paper you’ll see that there are a variety of ‘trusts’ and committees and boards that all in effect put Maksim in control of everything. In fact it even says that a percentage of coins mined go directly to Maksim and that he has sole control of the trust as well as his heirs etc. It mentions that the coin will be backed by real estate but there is absolutely no evidence that there is any real estate owned by RECOIN or even that anyone at the company has any experience dealing with real estate. No major real estate partners or financial firms partners, no advisors…the whole thing is completely void of anything tangible. Finally, if you go to some of the ICO message boards around the net you’ll see the same group of fake russian sounding broken english accounts trying to hype this RECOIN up….but when anyone asks a legitimate question there’s no answer except yet ANOTHER new fake russian or ukrainian speaking account hyping it still more. They are supposedly having their ICO on August 7-8th. Frankly, I think anyone that sends them money will lose it and never hear from them again.

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