Electroneum (ETN) is a cryptocurrency that simplifies mining and cryptocurrencies so that everyone may have the opportunity to benefit from crypto mining. This ability makes Electroneum a great buy for big-time investors as well as investors with a limited budget.
Jacques Serfontein, CEO of Bitmart said that investors must avoid the mentality that they don’t have a lot of money to invest and therefore feel that it may not make a difference.
“This is not true. The cryptocurrency industry allows for both big and small investors. You don’t need thousands of Rands to invest in cryptocurrencies and see a return on investment. Even if you have a couple of hundred rands to invest, it is worth making the effort of buying a good quality coin,” said Serfontein.
What is Electroneum?
Electroneum is a gem in the sense that it simplifies the mining of cryptocurrencies. The British based cryptocurrency was released in November 2017. It was founded by Richard Ells and works on a CryptoNote hash algorithm that is built on the Monero blockchain.
Electroneum allows you to mine Electroneum Tokens from your cellphone regardless of where you are. It has a unique mobile app and a wallet app. During the Initial Coin Offering (ICO) stage it raised $40 million and 100 million users were given access to the mobile app via a signed agreement. There are currently more than 86 000 live ETN users.
Shortly after the launch in 2017, the emails of some ICO investors were hacked and their accounts were shut down for a short while only to be restored.
XIUS, a telecom service provider to mobile operators, announced a partnership with Electroneum in January 2018.
Benefits of Electroneum
Mining Electroneum from your mobile phone is very much like having a staking wallet. All you have to do is download the app onto your phone and it will start mining Electroneum tokens in the background. Not all phones are compatible with the app so make sure you have the right type of phone.
It is a fact that not every crypto enthusiast understands how mining works and the perception exists that it is difficult. It is true that it is difficult to explain mining to a person without a tech background or basic knowledge. Mining can be quite technical. It also requires computer power and electricity.
What’s great about Electroneum is that it will not drain your battery or overheat your phone. The programme runs in the background like Telegram or Facebook do, for example. One can also earn Electroneum by playing the Electroneum game on your phone.
As previously stated, Richard Ells is the founder of Electroneum and has more than 20 years experience in software. He founded Retortal in 2013. The company offers social media marketing to companies. It boasts with providing services for some companies who are in the Fortune 500. The company is worth over $50 million and its software used by millions.
For the first quarter of 2018, Electroneum aims to be listed on several major exchanges and launch the mobile miner. Furthermore, they want to have 1 million users and have a user reach of 100 million.
Looking at the second quarter of 2018, the company hopes to enhance the app’s abilities and have 2 million live users. They also hope to kick-start the vendor integration platform.
Where can I buy Electroneum?
Electroneum is currently listed on Cryptopia, Qryptos, TradeOgre, Vebitcoin, and Cryptohub. It has a market cap of $488,173,929 and a maximum supply of 21 billion. An Electroneum Token currently costs about $0.07.
For more information on Electroneum, click here to read the white paper.