BEE
Network
Is the Bee Network legit?
To answer the question of whether Bee Network is a scam, the answer is no!
the thing is that this type of currency just entered the market and it has
gathered a lot of audiences ever since. All the analyses above very much prove
that the app is genuine.
Can you make money from
Bee Network?
Yes/No. It depends on whether you would sell your BEE or not.
And it also depends on whether someone wanted to buy your BEE or not.
How to earn money from
Bee Network?
You simply install and just invest some time as in 10 to 15 min a day you will
get some BEE daily.
What is Bee Network used for?
Bee Network is a new blockchain innovation that provides
gamified experience for users to earn Bee, a product that you can earn on your
mobile phone. By playing the roles of Pioneer, Ambassador, and Verifier, Bee
Network players will earn rewards in Bees.
Does Bee Network take your data?
While it doesn't ask anything of iPhone users (iPhones are
known for their security features,) Android users who install Bee Network may
have their location, contacts, calls, and apps you used tracked.
How do you mine Bee Network?
By logging into the app every 24 hours and clicking the mining
button, miners can accumulate their Bee tokens automatically. Miners can
also earn more by referring new users and expanding their earning team
Does Bee coin have a future?
Bee Network is secure and has a successful future prediction.
What's
the invitation code?
Sign up to Bee Network by using my referral code: arifah123.
Frequently Asked Question
1. What is Bee Network and Bee?
Bee
Network is a new blockchain innovation for users to earn Bee, a
cryptocurrency that you can mine on your mobile phone. By playing the roles of
Miner, Referrer, and Verifier, Bee Network players will earn rewards in Bees. To make Bee valuable, Bee Network is specially designed as a network
consisting of genuine people which fosters players to exchange goods, services, and in real life with their Bee balance and eventually list Bee on major
cryptocurrency exchanges for trading Bee with fiat money.
2. Can I withdraw my Bee now? What is
the timeline for withdrawals?
No,
you cannot withdraw Bee yet
in stages 1 & 2. The final stage (stage 3) of Bee Network’s roadmap is the
listing of Bee Network on major cryptocurrency exchanges to allow players to
utilize the Bees earned from Bee Network to trade and sell which is targeted in
Q3 2022, depending on user growth and the community dynamics. Please refer to
our project road map in the White papers As it takes time and a
collaborated effort to build the value of Bee and the ecosystem of Bee Network,
if you are looking to win a lottery overnight, please look elsewhere.
3. What is the growth potential in
Bee’s value?
Bee’s
value will be backed by the population of Bee Network, transaction volume services or goods
exchange between Bee Network’s, liquidity in the exchange market, and time. Just
like Bitcoin, its value was $0 back to its launch in 2008, but when its
popularity grows and as time goes by, 1 Bitcoin is now trading at US$ 37,000 as
of the time of writing. As it takes time and a collaborative effort to build the
value of Bee and the ecosystem of Bee Network, if you are looking to win a
lottery overnight, please look elsewhere.
4. What does it cost to earn Bee? Do I
need to pay any money?
You
do not have to pay any money
to join Bee Network and earn Bee. However, it does not mean Bee is given for
free. To make Bee Network’s experience fun and rewarding, we strive to build a
network of genuine people, foster interaction between players in real life and
encourage players to exchange, services or goods in real life with Bee
balance. Hence it takes your consistent commitment to making contributions to the
community and Bee is your reward. The least you can do is to log in daily and activate a new mining session.
5. Why is the mining rate reduced?
To ensure the stability of the price of Bee and prevent any negative
fluctuation common among cryptocurrencies, cutting supply (or known as
‘halving’ in the cryptosphere) is imperative to maintain the supply and
demand chain of Bee. By reducing the Bee supply, Bee Network can maintain
the scarcity of Bee tokens to secure the value held by our Bee Network users –
including you. Take Bitcoin for example. Halving is a common occurrence that
happens roughly every four years to the world’s biggest and most valuable
cryptocurrencies, and the price of Bitcoin actually rises with each halving
event that has occurred. In simpler words, cutting the supply of Bee for each
major user milestone safeguards the price of Bee while protecting it from price
inflation.
According
to our project roadmap, there will be a total of 4 rates halving in the entire
project roadmap. The 1st rate halving (-> 0.8 Bee / Hour) is done on 8 Dec
2020 when we have reached 100k users worldwide. The 2nd, 3rd, and 4th rate
halving happen when the entire Bee population has grown to 1 million (-> 0.4
Bee / Hour), 10 million (-> 0.2 Bee / Hour), 100 million (-> 0.1 Bee /
Hour) and eventually there will be 0 new supply of Bee when the user base is 1
billion worldwide.
While it might feel not very comfortable when you realize the rate of earning is not as fast as the old-time, it is an extremely important measure to create and grow the value of Bee by rate halving. For details, you may refer to the section “Why is Cutting Supply Important at Bee Network” in our newsletter published on 8 Dec 2020.
6. What is the total supply of Bee?
The
Bee Network economic model is built upon the following principle, i) new supply
of Bee becomes 0 when the total user base has grown to 1 billion worldwide ii)
earlier joiners should be rewarded better than late joiners iii) users with more
contribution to the community should be rewarded better iv) contribution made
by Bee Network‘s core development team should be recognized and rewarded v)
total supply of Bee is dependent on some users.
The
total supply of Bee = M + R + V + C
when Bee Network ceases Bee supply when it hits the 1-billion-user mark. M, R, and V refer to the total Bee earned by all miners, referrers, and verifiers
before supply ceases. C refers to Bee rewarded to Bee Network’s core
development team, which is 25% of (M + R + V). Hence, the actual amount of
total supply of Bee is dependent on the total users' activity before Bee Network
hits the 1-billion-user mark.
7. Why is there a difference in bee
balance?
The
balance on the main page of the application is an indicator of your “temporary”
earning in the current session. However, the actual eligible balance will be
transferred to your account after a mining session of 24 hours completed
according to the formula. For example, given your base rate is 0.8 Beeper
hours, you have referred 10 new miners to join your mining team, yourself and 7
of them are actively mining today, you will earn at 0.8 (base rate) + 0.8 x 7 x
25% (referral bonus) = 2.2 Bees per hour today. If you have signed out before a
session ends, your earning of that incomplete session will be forfeited and
therefore you will see the difference between the indicator and your actual
earnings.
8. Why is the application not starting
on a reload screen?
You
should press the “Try Again” button.
If the application still can’t proceed, we recommend you uninstall the
application and delete the relevant data on your phone, and download the latest
version on App Store or Google Play and launch again. This shall not affect
your Bee balance given you have not signed out before a 24-hour session ends.
9. Is Bee Network a scam?
Blockchain
theory is well proven. Real-life applications are seen on assets like Bitcoin,
Etherum, Tether which people today are trading for goods, services, and fiat
money like US dollars. The backbone of the community of Bee Network rides on
blockchain technology. You may refer to our white paper. To ensure Bee Network
is not a scam and will not be exploited by frauds, Bee Network does not
accept payment of any kind directly from players. Exchange of Bee for fiat
money is also prohibited until Bee Network’s development has entered phase III.
Bee
Network has invested significant financial resources to acquire the website domain
Bee.com. We have also invested heavily in hiring blockchain scientists, IT
specialists, community managers, and other staff around the world to ensure we
deliver a good level of service to all users. The fact that Bee Network has
achieved rapid growth of 800k+ users within 5 weeks of the global launch is a
recognition by the public.
After
all, Bee Network is a mobile application listed on the App Store and Google Play
free of charge.
10. How do I earn Bee?
You
earn Bee in 3 ways.
Firstly, you earn as a Miner by logging in daily to activate your next 24-hour
mining session. Once you have clicked the thunder button on the home screen, your
Bee balance will grow at a rate of 1.6 Bee/hour (or 0.8 Bee/hour when total
users exceed 100,000, 0.4 Bee/hour when exceeding 1 million, 0.2 Bee/hour when
exceeding 10 million, 0.1 Bee/hour when exceeding 100 million and 0 Bee/hour when
exceeding 1 billion) continuously in the next 24 hours by your hourly base rate.
Secondly, you earn an extra Bee at 25% x your base rate x number of active
miners in your team as a Referrer by referring new members to join your earning
team and keeping them active. Thirdly, you earn an extra-base rate as a
Verifier by verifying the trustworthiness of members in your mining division.
The role of Verifier will only be launched in Phase 2. For details of the 3
roles, please refer to here.
11. Does Bee Network drain my battery
or data? Do I need to keep the app open all time?
No
to both, as Bee
Network is different from Bitcoin. You will only consume insignificant battery
and data when you open the Bee Network app and activate your data mining
session which the entire session can be done within 10 seconds. You do not need
to have the app open once you have clicked to activate a new mining session.
Bee Network app will not run in the background and consume any of your phone
battery and data after you have closed the app. This is due to the difference
between the consensus algorithm between Bee Network and Bitcoin. For technical
details, please refer here to our White paper.
12. When will I be able to trade Bee
for other players’ goods and services? When will I be able to trade Bee on
exchange markets for fiat money?
Bee‘s test launch was on 8 August 2020
and launched officially to the global market on 3 Dec 2020. We are now at Stage
1 where we are building a trusted and verified network of players. When we
enter Stage 2, we will introduce the Bee Network Marketplace in which players
can offer their services or goods in real life in exchange for another
player’s Bee. We shall enter Stage 2 when we have built a large enough
community, which is forecasted to be done within 18 months. The listing of Bee
on major exchange markets remarks our development entering Stage 3 where
players can trade your Bee balance for fiat money. We forecast to enter stage 3
after 12 more months of development from stage 2. You may refer to details of
our forecasted roadmap in our White paper.
13. Do I need to verify all Facebook
accounts, Apple ID, and Phone numbers?
No,
you are only required to verify one of your Facebook accounts, or phone number, or Apple ID at
stage 1. Bee Network will require further verification from you when the
project has entered the next phases.
14. Can I change my username?
No, the user name (i.e. referral code) cannot be changed as this is your unique ID registered with Bee Network.
15. Can I change my name?
Yes, we will very soon introduce
the feature of letting users change their name in the app, please wait for our
next app update. Secondly, we will do KYC in the next phases, so you still have
time to change it later.
16.
Can I change the referral code who invited me to join Bee Network?
No, It is unfortunate that we cannot
change the one who invited you to the application because we will have to
respect and honor our referral system.
17.
Can I change my phone number if I used phone verification for the first
sign-in?
No. Once you have chosen to use a phone
number as your signup method, you can only log in to your Bee account by SMS
verification to that phone number. Therefore, if your SIM card is not a fixed
mobile phone for some reason, we suggest you use Facebook or Apple ID as your
sign-in method.
18. Why is Bee Network a Referral-only
Community?
To
foster its value growth and to ensure secure transactions between
players, the Bee Network community should only be composed of real people with
verified identities. Bee network counts on existing players to only bring
trusted people whom you know in real life to join Bee Network. This is the
reason why new players would only be able to join Bee Network by a referral
code sent from an existing player. In addition, Bee Network further
incentivizes players to constantly verify the trust level of their referee by
earning an extra mining rate (please note that this feature as Verifier will only
be open in the next phases). By adopting these measures we strive to make Bee
Network safe from both technical and interpersonal perspectives.
19. Why can’t I set up my security
circle?
Security
Circle & Verifier role will be launched in phase 2.
Please
refer to the White paper, Point 3 & Phase 2 about Security Circle:
https://bee.com/white-paper
20.
What are Bee’s official social media channels and email addresses?
Please
follow our channel below: bee.com
JOIN BEE NETWORK BY USING MY INVITATION CODE: arifah123.
Article source:
Bee dot com
cryptominingfuture dot com
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