What is Bee Network Coin?

Bee Network is a novel cryptocurrency that can be mined by ordinary individuals using their smartphones. The project provides a gamified experience that enables users to earn Bee.

To earn Bee, users need to click a button once every 24 hours, which rewards them in this new cryptocurrency. Mining Bee helps ensure trust in the project and confirms that you are a real human being participating in mining this new cryptocurrency. As the network grows, every user of Bee Network has specific roles to play.

Bee is a new blockchain innovation and digital asset that can be mined with a simple finger tap. To begin mining, users must log in to the app daily and click the little bee icon on the screen's center.

The cryptocurrency miner will then begin mining for 24 hours. The mining rate can vary from person to person, depending on their referrals and the number of sign-ups. The only downside to the app is that users cannot create an account without a referral code.

Bee Network Coin currently does not have any real value, but the owners and Reddit speculate that it will gain traction in 2024.

Although three years may seem like a long time, it is a simple finger tap once a day and entirely free for everyone.

Many people have a good feeling about this cryptocurrency, and like Bitcoin, which was valued at eight cents in 2010 and is now worth approximately $52,000 for one Bitcoin in 2021, Bee Network Coin has the potential for growth.

Moreover, with celebrities like Elon Musk endorsing cryptocurrencies on Twitter, it appears to be an excellent time to invest in any cryptocurrency.

Quick Facts

• Bee Network Coin (BEE) is the native cryptocurrency of the Bee Network blockchain.

• The Bee Network app allows users to earn free BEE by participating in the network as "miners."

• The network uses a proof-of-work consensus algorithm, where miners perform simple tasks to earn BEE rewards.

• The maximum supply of BEE is 1 trillion, and the inflation rate is set to decrease over time.

Bee Network Roles

Bee Network offers three different roles for its users: Visioner, Referrer, and Verifier.

1. Visioner

As a Visioner, users will receive a base rate of 1.6 bee/hour by logging in to the app every 24 hours and clicking the bee button. The hourly rate is automatically given, and users do not need to keep the app open after clicking the bee button.

However, the base rate as a Visioner will decrease by 50% four times based on the growth of the total user base, and it will cease supply of Bee when there are 1 billion users worldwide.

2. Referrers

Referrers, known as Ambassadors, can bring in new Visioners to join their team and work together to complete missions in upcoming in-app functions.

3. Verifiers

Verifiers, on the other hand, will only be launched in Phase 2 of the Bee Network project. Verifiers play a crucial role in verifying the identity of members to bring them into a trusted network. However, to utilize the full functions in the next phases, everyone in the user's security circle must successfully complete the KYC compliance process.

Final Thoughts on Bee Network Coin

In the cryptocurrency world, the value of a coin is determined by several factors. One of the most important things that determine the value of a coin is its supply.

A coin with a limited supply is more valuable than a coin with an unlimited supply. The method of creation is also essential in determining the value of a coin.

A brand-new coin has the potential to gain value if it can deliver on its promises. Coins built on top of an existing ecosystem, like Ethereum, can leverage the same community and developer support that a fork might without much of the risk.

Another factor is the type of coins generated; is it fungible or non-fungible? Is it a currency or a collectible?

A fungible token is prolific, meaning that there are millions of them, and they can be reliably traded with other people for a set price. A non-fungible token, on the other hand, is rare, and its value is much higher because of its scarcity.

In terms of Bee Network, there is still a lot of work to be done before the cryptocurrency gains any value. The rate at which Bee Network is going is still in its early stages, and it will take some time for it to gain any value.