What is Rainbow Currency? Checkout YEM Price Prediction

Cryptocurrency and blockchain technology is redefining how the financial market works globally. Blockchain has pushed the rise of decentralized digital currency called cryptocurrency, leading to the emergence of a number of crypto coins like bitcoin, ether, tether, and Binance coin.

If you are one who is eager to explore the world of crypto and want to know what Rainbow Currency is, then keep on reading this write-up.

What is Rainbow Currency?

Rainbow is a mobile wallet app based on the TwnklChain blockchain for managing digital assets. Compatible with the ERC20 standard it is developed using cryptography technology, allowing its users to store, buy, sell and transfer digital assets securely.

It allows users to invest in tokens through decentralized exchanges like Uniswap. It was designed in January 2019 by Christian Baroni, Jin Chung, and Michael Demarais in the Greater New York Area. It is represented by Rainbow Currency Foundation, a global non-profit organization.

Rainbow has raised a funding of $19.5 million so far including $1,500,000 as seed funding in January 2020 and $18,000,000 under Series A round of funding from Seven Seven Six and Digital Currency Group in October 2021. In November 2021, Rainbow currency claimed that it had over 1 million active users, which were around 500,000 during the same time in 2020.

What is YEM?

It is the native cryptocurrency token of the Rainbow platform. The YEM, also called Rainbow coin, is an Ethereum-based cryptocurrency that allows its users to make digital transactions through the Rainbow platform.

YEM, which stands for “Your Every Monday '', is managed by The YEM Foundation which is co-founded by over 3000 users from more than 150 countries, who have invested in more than 30 billion Rainbow coins (Twnkl). With a market capitalization of $46.8 million, it is emerging as one of the top 10 cryptocurrencies worldwide. Of a total 100,000,000 Rainbow coins, currently 31,342,795.277 coins are in circulation.

Rainbow Currency (YEM) is known by 4 names:

With Twinkle (TWNLK) being the official denomination of Rainway currency, the below section signifies the value of different denominations with respect to each other.

1 Twnkl= 1 YEM

1 Glitter = 1,000 Twnkl

1 Rainbow = 1000 Glitter

1 Twnkl = 1,000 Dan

Where to Buy Rainbow Currency (YEM)

Following are the crypto exchanges where you can buy a Rainbow coin:

How Much is a Rainbow Currency (YEM) Worth?

There were mixed opinions about the future prediction of Rainbow Currency (YEM) for 2022, but it would not live up to the prediction due to “crypto winter”. Because the crypto market is highly volatile Investors and traders are recommended to conduct their individual analyses before investing in Rainbow.

Here are Rainbow Currency price predictions for 2022-2025:

Is Rainway Currency Token a Good Investment?

Rainbow Currency has emerged as a popular form of digital payment in a very short period, with more and more online stores and merchants accepting payment via YEM due to its distinctive features as mentioned below:

Fast & Secure Deposits and Funds Transfer

The Rainbow claims to be ensuring fast and secure fund deposit and transfer as compared to other crypto platforms. YEM uses PerNumPay App as its wallet to allow users to send and receive funds. All transactions on PerNumPay are made secure with two-factor security, in which users need to verify the transaction with a One-time PIN.

Unique Mining Method

It does not use the traditional mining process adopted by traditional cryptocurrencies like bitcoin and ether, which requires a lot of resources and energy. On Rainbow, coins are made available as a reward to its members for their activities across SafeZone and Unicorn Network Security.

Initially, it was first launched on the public blockchain Ethereum, in which everyone would see your personal details, wallet balance, and transaction details. To remove this drawback, Rainbow moved to a private blockchain platform TwinklChain, which ensures that nobody can see your wallet, personal data, and transactions. The TwnklChain blockchain can process over 100 million transactions per day.

Low Transaction Fee

Rainbow is known as a crypto platform with the lowest charges. It takes an average fee of 0.1% per transaction. Based on the amount of the transaction, it charges a minimum fee of 0.001 YEM and a maximum fee of 1,000 YEM.

Summing up

Rainbow Currency (YEM) has been in wide discussion recently due to its rising popularity. Its unique trading and security features make it stand out among other crypto giants. It is based on a private blockchain that makes it a safe choice for investors to choose rainbow for trading and investment. Hoping for a bright future for the Rainbow, you may explore more about it and take the next step as an investor.