Electroneum - cellphone "mining"
Investing in cryptocurrencies reflects investors’ opinion that in the future, cryptocurrency will be a functional means of payment. It's that simple. How can the future of cryptocurrencies be predicted? Let's have a look at it.
Today I have the honor of introducing the cryptocurrency with a market cap of around 140 million (30/3/18), making it #77 in the crypto world according to market cap.
According to the whitepaper: „Electroneum, built on its own blockchain, has been developed with the explicit intention of gaining mass adoption via the 2.2 billion smartphone users. It launches via a token sale on 14/09/18 and represents a unique opportunity. Electroneum is a complementary currency that has been developed to allow anyone, regardless of technical ability, easy access to a cryptocurrency. Within a few minutes of installing the mobile app any user can see Electroneum being added to their wallet via the unique mobile mining experience. Nearly all cryptocurrencies are „mined“ with specialist equipment. Electroneum can be obtained via the mobile mining experience on the app.“
Sorry for quoting quite a long part of whitepaper but it has its own purpose. In my opinion, the whitepaper could be short like this one paragraph and it would say (almost) everything about this cryptocurrency.
All right, the main goal of Electroneum is to achieve a mass adoption of cryptocurrencies and that’s great. It’s a reasonable goal, especially when you take into account countries where people spend the equivalent of 2 or 5USD per one day. Then it makes a sense mobile „mining“ as you’ll probably „mine“ around 1.25 ETN over the night (6 hours), about 5 ETN within 24 hours if your hashrate is 25H/s like on my Honor 7 lite. You can "mine" almost without electricity costs, but you must be connected to the Internet. Today’s price of ETN is about 0.02USD/ETN so you can mine 0.1USD per day.
I must say that mobile „mining“ is extremely easy. It takes about 3 minutes (depending on you internet connection) to download and install mining app and after some easy steps you’re ready to „mine“. Worth mentioning is that you’re not really mining anything, just running app which simulates a mining.
I‘ve tried it out for you. Notice the time in upper right corner and amount of ETN "mined":
And you can compare it with the screenshot almost 9 hours later:
To be continued...
Best platform for trading cryptocurrencies is Binance:
Disclaimer: Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.