Electroneum (ETN) Cryptocurrency – The Definitive Guide

Electroneum is a new cryptocurrency that is designed to be the first mainstream mobile-friendly cryptocurrency. It’s easy to use and has a wide variety of features, including mining, instant transactions, and an app store.

Electroneum (ETN) is a cryptocurrency that was created to make it easier for people to mine. The is electroneum mining profitable is an important question because ETN has the potential to be worth more than $1,000 USD in 2018.

Tom Alford is a British actor. contributed to this article. 17 April 2018

The following is information about this guide: Everything you need to know about Electroneum can be found in our guide. We’ll explain what ETN is and what it accomplishes, as well as provide our thoughts on the project. Before making any bitcoin investments, we recommend that you exercise care and do your own research.

What Is Electroneum and How Does It Work?

Electroneum cryptocurrency logo

Electroneum is a cryptocurrency that works similarly to Bitcoin in terms of storing and transferring value. ETN, on the other hand, was created with the following principles in mind:

  • People must be able to comprehend a cryptocurrency.
  • It has to be simple to use.

The primary issue with existing cryptocurrencies, according to the Electroneum team, is that they are too complicated for most people to comprehend. As a consequence, there are fewer individuals who use them. ETN promises to address all of these issues and eliminate this impediment to widespread cryptocurrency adoption.

Electroneum’s ultimate aim is to become the people’s cryptocurrency.

How Does ETN Simplify Things?

What makes Electroneum different from other cryptocurrencies like Bitcoin?

  • ETN, unlike Bitcoin, has a large supply of 21 billion coins, compared to 16 million for Bitcoin. As a result, Electoneum can only be divided to two decimal places (like regular currency). This kind of monetary system is just more familiar to humans. Example: Assume you’re purchasing a $1 package of Haribo. You will be charged 0.00012 BTC if you pay in Bitcoin. The cost of using Electroneum would be 40 ETN. Which one is the most straightforward?
  • Inclusionary: The majority of cryptocurrencies exclude ordinary people from mining them. The reason for this is because any decent mining rewards need very strong mining equipment like as ASIC miners. Without a doubt, this equipment is too costly. ETN, on the other hand, is intended to be mined on a mobile phone, allowing billions of users to participate.
  • Electroneum recognizes that the majority of consumers prefer to engage with money on their mobile devices. ETN has put in a lot of work and money to make it mobile friendly, with easy-to-understand app designs.
  • Making Cryptocurrencies More Accessible: In the past, anybody interested in purchasing bitcoin had to submit a copy of their identification to an unknown website. Naturally, this is a significant barrier that keeps people away from cryptocurrency. Instead, Electroneum validates users through SMS, similar to how messaging applications like Whatsapp do it. Most people like this approach since it is less invasive and they are accustomed to it.
  • Crypto For The Unbanked: There are 2 billion individuals who do not have access to financial services. Because conventional ways of purchasing bitcoins need a bank account, they are unable to participate in the cryptocurrency revolution. These individuals may use Electroneum to engage in and handle their own digital payments.

In which industries will Electroneum be employed?

ETN intends to establish itself in two key markets:

Playing Computer Games

The worldwide video game market was valued $78.61 billion in 2017, according to Statista. Electroneum intends to promote this industry by allowing players to “transfer some of their hard work and effort from one game to another by allowing them to monetize their “in-game” virtual currency and move them into the real world.”

According to the data, gamers are increasingly flocking toward social games, with 48 percent opting for this genre. Virtual currencies are already present in games such as Farmville and World of Warcraft.

The issue is that these games are so popular, and the materials they contain are in such high demand, that blackmarket exchanges have sprung up to purchase and sell in-game money and goods. People are already trading actual money for these digital goods, indicating that there is a need for swaps. Most gamers are understandably hesitant of disclosing their credit card information to black market exchanges, which means they are unable to fully monetize the time they have spent in a game.

ETN intends to integrate an Electroneum virtual currency exchange into partner games. This accomplishes many goals:

  • Players may now exchange their in-game money or goods for Electroneum, which they can use to purchase things in other Electroneum games or sell for cash.
  • Commissions on transactions may be earned by gaming firms.
  • ETN sales may result in a commission for the game company.
  • Instead of being traded on the black market, virtual in-game goods would be exchanged in an open and transparent setting.

Gambling

The global gaming industry is worth tens of billions of dollars per year. Many gaming establishments have begun to accept bitcoin. The issue is that gamblers still need a bank account in order to:

  • Make a fiat money deposit with a gaming site.
  • To get Bitcoin so that you may bet with it.

Unbanked individuals number two billion, and gaming firms have no means of getting into this market at the moment. Despite the fact that they do not have a bank account, the majority of these individuals have a cell phone. ETN addresses the issue of accessibility by enabling anybody with a smartphone to mine Electroneum and utilize the money for gaming.

Unbanked users may then transfer their gaming gains back to their mobile ETN wallet, which they can then exchange for cash with a buddy who wants to play. The gaming business may use cryptocurrency exchanges to convert Electroneum earnings into fiat money, giving them access to the unbanked market.

The Team

Electroneum has a staff of skilled programmers. However, we’ll concentrate on Richard Ells, the commander of the ETN ship.

Richard Ells, CEO and Founder: Mr Ells has a lot of expertise in the field of digital companies. With SiteWizard LTD, he began his entrepreneurial career in 1996. The company is still in operation today, specializing in SEO, web design, ecommerce, and social media marketing.

In 2012, Richard went on to establish Retortal. This company specializes in social media management, and several Fortune 500 businesses utilize its services.

Total Crypto is pleased by Richard’s accomplishments and believes he has the potential to take ETN to new heights. His social media expertise is expected to be a major asset to the project and Electroneum’s potential success.

The ETN’s Future

With over 1.14 million registered users and 47.5k members in their Telegram group, Electroneum has a strong basis. This demonstrates the cryptocurrency community’s tremendous support for the initiative.

The ability of ETN to establish relationships with computer gaming and gambling businesses will determine its success. For Electroneum, a large collaboration might result in tens of millions of additional users.

TotalCrypto believes that ETN offers something unique and that the cryptocurrency is much more user-friendly than Bitcoin. As the value of cryptocurrencies such as Bitcoin rises, the number of decimal points increases, making them more difficult to utilize. Newcomers to cryptocurrencies are likely to prefer using two decimal places, like in conventional money.

The idea of a virtual in-game marketplace makes a lot of sense, and the TotalCrypto Team believes that it would be widely utilized by players. Electroneum may theoretically assist gambling businesses in gaining access to unbanked consumers. However, we must be persuaded that ETN will be accepted as a valid payment mechanism by e-gaming authorities (in respectable countries).

If ETN is widely adopted in its target areas, it may have a significant impact on the gambling and video gaming sectors. We’ll let Electroneum draw out their own roadmap, and it’ll be up to you to determine if it’s interesting and credible:

Electroneum cryptocurrency roadmap 2018

The Electroneum Initial Coin Offering (ICO)

On the 23rd of October 2017, ETN conducted its initial coin offering (ICO), with 1 ETN valued at 1 cent. The coins were initially listed on exchanges on November 2nd, 2017 at a price of 9 cents per coin. Electroneum has now risen to an all-time high of 22 cents per coin on January 6, 2018, before plummeting to 2.5 cents at the time of writing.

Electroneum ICO investors have earned a 150 percent return on their original investment, despite it not being the best performing ICO at the moment. This doesn’t seem to be too bad.

Is it a good idea for me to invest in ETN?

Whether you invest in Electroneum or not is completely up to you. However, we may provide our thoughts on the project:

Pros

  • TotalCrypto like the Electroneum app and finds it to be very user-friendly. We can understand how it might appeal to novices to the cryptocurrency world over other crypto applications.
  • We both believe that a cryptocurrency with two decimal places is simpler to comprehend and utilize.
  • Gambling and video gaming businesses are enormous. We can see the value ETN can offer to various sectors, as well as the issues it can address.
  • There is a clear shift toward mobile. We like ETN’s commitment to make mobile such an important element of their overall strategy.
  • In the cryptocurrency world, the project already has a big following and a lot of support.

Cons:

  • We need to see some major collaborations and these businesses really incorporating ETN into their products for the initiative to be truly useful.
  • It remains to be seen if gambling and computer gaming businesses will utilize Electroneum technologies or develop their own. Instead of being compelled to split income with Electroneum, the second alternative would allow computer game or gambling businesses to keep 100% of the revenue generated by their clients.
  • We don’t know whether ETN will ever be widely accepted and accomplish its aim of being “The People’s Cryptocurrency.”

Electroneum price chart from coinmarketcap

Image courtesy of Coinmarketcap.com.

Interested in purchasing Electroneum (ETN)?

Kucoin and Coinbase are the two most popular places to purchase Electroneum. Thankfully, we’ve put up this fantastic tutorial – just follow it step by step to get Electroneum! 

Conclusion

The Total Crypto Team is a big fan of the industries where ETN is attempting to make a name for itself. It’s difficult to envision a future where gambling or computer games aren’t popular. It’s fascinating to see how Electoneum can intuitively address issues in these areas.

We’re especially enthusiastic about the prospect of an ETN-powered virtual currency exchange. We believe that both game developers and players would prefer to trade in game goods or transfer value to other games via a legal marketplace. The presence of blackmarket gaming marketplaces demonstrates that such a solution is in high demand.

Electoneum has discovered a fundamental problem with cryptocurrencies: many people find them too difficult to comprehend. We believe that concentrating on a user-friendly and mobile-friendly cryptocurrency is a wise decision.

Will Electoneum become the people’s cryptocurrency? We don’t know, but there are a lot of aspects about this project that we enjoy. Over the next several months, the TotalCrypto Team will be watching ETN with bated breath.

Resources

We’ve compiled a collection of useful Electoneum resources below (ETN).

What Are the Best Free Wallets?

The official Electroneum wallet is recommended.

? The Best Apps For Keeping Track Of Your ETN Investment

Useful Websites

[ratings]

DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.

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Author Biography

1629226774_973_What-Is-Tron-TRX-Coin-The-Popular-New-Cryptocurrency

Tom Alford

Tom is a cryptocurrency specialist and investor from Edinburgh, Scotland, who has worked in the industry for over 5 years. He graduated from the University of Nottingham with an MA in diplomacy and a BA in politics, providing him a solid grasp of the social and political ramifications of cryptocurrencies. He is a big supporter of the future use of blockchain technology and believes in long-term initiatives above short-term profits. Tom may be reached at [email protected]

Interested in learning more about Electroneum and how the initiative may lead to widespread cryptocurrency adoption? In its white paper, the Electroneum team reveals their aims and objectives.

DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.

Electroneum is a cryptocurrency that offers instant transactions with low fees. The electroneum mining mac is an easy way to mine ETN coins without the need of expensive hardware.

Related Tags

  • free cryptocurrency mining
  • mobile mining apps 2021
  • electroneum algorithm
  • new cryptocurrency to mine
  • mobile crypto

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