What is Electroneum?
Electroneum is a cryptocurrency that is named after the electron which all cryptocurrencies rely on. It was created to increase mass adoption of cryptocurrencies. Founded in July 2017, Electroneum is built on its own blockchain. The token for Electroneum is called ETN. Electroneum is positioned as a mobile cryptocurrency that requires minimum hardware and is managed via an app. The British cryptocurrency has been developed to make it easier for anyone regardless of a technical ability to access it without any hassle.
In December 2017, Electroneum launched its wallet manager and released the Android app in 20 languages.
Features of Electroneum
- No transaction fees: Transactions are free on the Electroneum platform which enables you to send and receive ETN tokens easily. Moreover, it does not impose any charges for creating offline wallets.
- Use of CryptoNote Algorithm: Electroneum is based on the core blockchain technology of CryptoNote Algorithm. The same technology is also used by most of the top cryptocurrencies. The CryptoNote algorithm is released under an open-source license.
- User-friendly: The cryptocurrency is simple and user-friendly as it can be operated with minimum technical ability. It highly focuses on convenience of users.
- No special hardware for mining: The mining process of the ETN token takes place inside the app and does not require any special hardware like GPU mining rig or a computer with a high processing power.
- Faster transactions: The platform enables anonymous and faster transactions.
Where to buy Electroneum?
The total supply of Electroneun (ETN) tokens is capped at 21 billion. The ETN tokens are listed on popular exchanges like Cyrptopia, Qryptos, and others.
Electroneum can be obtained via the mobile mining experience on the app. The platform made mobile mining available in May, 2018. Once a user downloads the Electroneum app, they can start mining the ETN coins straight into their wallet in minutes. The Electroneum app also lets you manage your wallet and send or receive ETN tokens in a secure way. You can even check and monitor live ETN exchange rates.
Once you create an account on the Electroneum wallet manager, an Electroneum mobile wallet will be created automatically.
Electroneum Price Trends
On 22 May 2018 the market capitalisation of ETN tokens was $156,300,370 while the price of 1 ETN token was $0.022. In January 2018, the price of 1 ETN token was around $0.083. The price of the cryptocurrency was flat in the next few months as well and failed to hit the $1 mark.
Risks involved with investing in Electroneum
It is advised to do thorough research on cryptocurrencies before investing in them as the process is quite technical. Cryptocurrencies are volatile in nature and are also subject to government regulations. Hence, it is advised to invest in mutual funds instead as they are more secure and reliable.
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