Rank #125
2,274 people like this
renbtc  (RENBTC)

renBTC (RENBTC)

$46,814.48 -17.0%
1.02502176 BTC 2.7%
13.11450624 ETH 5.2%
2,274 people like this
$45,979.32
24H Range
$57,240.62
Market Cap $774,585,940
24 Hour Trading Vol $16,205,517
Fully Diluted Valuation $773,915,651
Circulating Supply 15,408
Total Supply 15,408
Max Supply 15,408
Show Info
Hide Info

RENBTC
USD
USD

renBTC (RENBTC) Price Chart

We're indexing our data. Come back later!

1h
24h
7d
14d
30d
1y
-11.3%
-17.0%
-13.0%
-19.8%
-25.7%
140.4%

RENBTC Price and Market Stats

RENBTC Price $46,814.48
Market Cap $774,585,940
Market Cap Dominance 0.04%
Trading Volume $16,205,517
Volume / Market Cap 0.0224
24h Low / 24h High $45,979.32 / $57,240.62
7d Low / 7d High $49,889.48 / $59,146.23
Market Cap Rank #125
All-Time High $68,977.19 -26.3%
Nov 10, 2021 (24 days)
All-Time Low $8,877.48 472.3%
Jun 27, 2020 (over 1 year)

renBTC Coin Price & Market Data

renBTC price today is $46,814.48 with a 24-hour trading volume of $16,205,517. RENBTC price is down -17.0% in the last 24 hours. It has a circulating supply of 15 Thousand RENBTC coins and a total supply of 15.4 Thousand. If you are looking to buy or sell renBTC, Hotbit is currently the most active exchange.

 

What is renBTC?

renBTC is a synthetic asset that represents the value of bitcoin and it is created by the Ren protocol. renBTC allows for bitcoin transfers to be conducted quicker on the Ethereum blockchain and opens up the possibility for bitcoin to be used in the Ethereum ecosystem. 

Bitcoin is held in custody by a network of decentralized nodes; it can be converted to renBTC and vice versa easily.

What is the Ren protocol?

Ren Protocol is a permissionless and trustless protocol that allows users to transfer tokens across different blockchains. The Ren protocol is powered by a network of computers called Darknodes, which helps facilitate user generated transactions. 

More specifically, Darknodes contribute their network bandwidth, computational power, and storage capacity to power the Ren protocol.

What are some benefits of renBTC?

renBTC helps transfer the value of bitcoin to the Ethereum network so that bitcoin holders can take advantage of the major decentralized finance (DeFi) applications that are currently limited to the Ethereum blockchain. 

Although there are other synthetic assets that help bridge the value of bitcoin to the Ethereum network such as WBTC, renBTC differentiates itself from WBTC through some of its features.

renBTC offers three main value propositions: it is trustless, no Know Your Customer (KYC) procedure is required, and assets are stored by decentralized custodians. When users mint renBTC, they are not required to reveal any personal information.

Instead of having a sole custodian to store users' bitcoin, it is securely stored within a network of Darknodes. The design of the system guarantees that users could confidently redeem their bitcoin or mint renBTC at all times. 

How to mint renBTC?

  1. Visit RenBridge to start minting renBTC

  2. Under the “Select asset” tab, select BTC. Currently, Ren protocol only supports Bitcoin, Zcash and Bitcoin Cash

  3. Insert your Ethereum wallet address in the “Destination wallet” tab

  4. Review details and confirm transaction

  5. Send your bitcoin to the wallet address given

  6. After 6 block confirmations, your bitcoin will be converted to renBTC and it will be automatically transferred to your Ethereum wallet address.

What are other ways to acquire renBTC?

Besides directly minting renBTC, users may also purchase renBTC from any decentralized exchange such as Curve, Uniswap, or SushiSwap.

renBTC News & Guides

Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
coingecko (thumbnail mini)
CoinGecko for iOS
coingecko (thumbnail mini)
CoinGecko for Android