Regal coin reopened its doors again today after a few weeks of...whatever you actually want to call it. They introduced a new coin to the program and this is suppose to help with the lending/staking program. Its called R7 is a privacy coin that is suppose to stay close to equal 1$. They also took whatever USD you had in the program and turned it into this weird "code balance" and basiclly forced you to re loan it by turning into a regal code and redeeming for the value of a staking contract. Screwing alot of people over in the process. Not to mention that they were suppose to double the supply of REC holders on the site. I didn't receive any myself. Have not seen any bad reports but i was hardly looking. I am sure im not the only one but maybe it was because i held so few of coins. If regal coin last another 99 days i will be surprised or maybe that is why they did this. Forcing people into loans giving the program life for a little while longer. No one will loan with them after they did. What they have done now and in the past. Such as locking up peoples coins because they screwed up. Either way i am not at a loss im actually about $210 in the positive from my loan from 430 and have a current loan of 450. Another problem that i have is how soon will R7 be on the exchanges. If people can't sell there coins soon they will accumulate and many will just dump when it happens and ending Regal coin. It does look like they have the block explorer done for R7. So maybe that is some good news of how soon they will be on their already listed exchanges. I only use coinexchange for them myself. We will see what the future will hold for Regal in the near future.
Thanks for the info, between this and Bitconnect WTF!
I know right but any lending platform can turn scam in a second. The risk to reward is there you just have to play it smart!