If you’re new to the crypto scene or you somehow haven’t heard of Electroneum, you’re exactly the type of person we are looking for! We want everyone to join in and enjoy our free Electroneum lottery, but potential new users or users who have joined the Electroneum project and want to increase their wallet balance have a special place in our hearts. After all, Electroneum is the mobile cryptocurrency aimed at mass adoption!
So let’s start of by explaining the basics of Electroneum, how you can get started and why we think the Electroneum project and it’s team are destined for success!
Electroneum is a cryptocurrency, similar to other crypto coins such as Bitcoin, Litecoin etc. There are big differences between Electroneum and the other coins we’ve just mentioned, but for this guide, the comparison to other coins is to simply compare them as similar assets, with different technologies and uses behind them.
The Electroneum project really sets itself apart from all other crypto coins, as it’s main mission and driving force is mass adoption! At the present, crypto coins are becoming more popular, and more people than ever are starting to learn about cryptocurrency and it’s uses. However none of these coins and projects have managed to achieve anywhere near mass adoption! There are many different reasons behind this problem, which the Electroneum project looks to address.
So now that we’ve got that very basic introduction out of the way, let’s talk about how electroneum looks to change the crypto currency space. Why we believe they have a very strong project and why we think the team behind Electroneum can execute their plan to become the first mass adopted cryptocurrency!
As we’ve said above, Electroneum is the crytpocurrency for mass adoption! But how do Electroneum look to reach mass user adoption, break down the barriers to entry and provide a instant payment solution, that actually works in real time.
Let us introduce you to the Electroneum mobile app, which is made available to anyone running an android smartphone with android 4.2 and above (that’s 75.66% of the smartphone market) and contains some really neat features such as a mobile wallet with the ability to send and receive payments, a calculator to help you convert any amount of ETN coins into fiat (real world) currency, a list of all exchanges where you can trade ETN, a referral program which allows you to earn Electroneum for referring users to install and use the app and last but definitely not least, the mobile miner, which allows you to earn Electroneum on your phone, without using huge amounts of battery power or CPU resources.
At the current time of writing you can earn on average $3 a month. You may be thinking, well that’s not a lot, but we will come back to this later. Did we mention the app is AVAILABLE in 20 different languages! With the barriers to entry broken, it’s now possible for a huge amount of people, who just couldn’t get any crypto coins, to enter the market place and not only is it free, you can earn whilst you do it! (note that Electroneum does have an apple app, but is having difficulty with apple accepting the app onto the apple app store)
Now let’s look at the ease of access and understanding Electroneum. With Electroneum looking to engage new users to the crypto currency space, it’s vital that end users can use and understand Electroneum, without having to know the technical background of blockchain and cryptocurrency. (although we believe it’s always good to increase your knowledge in relation to anything you partake in)
One of the most difficult, time consuming and misunderstood issues with cryptocurrency is the way that values are shown to the user. for example, if you wanted to make a payment of $10 – you would need to convert that amount to the 8 place decimal amount in bitcoin, which at today’s rate would be 0.00163364 BTC.
As you can see this can be THOROUGHLY confusing to even established users and has led to some terrible mistakes when converting and sending. it’s also rather off putting, to a large amount of people who find it intimidating. This is why Electroneum offers a cryptocurrency with a two decimal place system. This allows Electroneum to keep the base system that people have used all their lives. $10 USD to Electroneum at today price reads at 438.09 ETN. Much easier for your average end user to understand and just another small step to making Electroneum easier to access and use for everyday folk!
Okay, so the users can easily access Electroneum, it’s easy for them to understand, but now that everyone has it, what can they do with it?
Well, Electroneum has partnered with some great mobile telecoms operators around the globe, and SPECIFICALLY serving some of the poorest countries in the world, countries where the average income is around $23 a month. Many of these users are un-banked, and don’t have the ABILITY to engage in COMMERCE with businesses or sole traders around their region and across the world.
Electroneum opens up the OPPORTUNITY for mass amounts of these people to be given, many for the first time ever, the ability to make payments online and in person. These people who couldn’t be MONETISED (and we’re using this term only to describe the fact that businesses can now engage and receive payments from this group of people as they previously COULDN’T, the idea of seeing people as something to be MONETISED and used to create profit without seeing the human spirit behind that person is not what we’re REFERRING to here and not something we would not support ) now have the ability to trade with many sources and vendors and we think that’s a great thing!
With the recent hard fork and update to the Electronuem blockchain that will integrate their instant payment api, we should expect to see many businesses taking the OPPORTUNITY to ACCEPT Electroneum as payment.
As someone who has participated in the Electroneum community from the ico period, I have had the OPPORTUNITY to closely follow the Electroneum team, and in PARTICULAR the amazing Richard Ells, who has at every turn convinced me that I had invested in a project, headed by someone who is PROFESSIONAL, reliable, trustworthy, intelligent and has a really good sense of humour!
I REMEMBER during the first days of the Electroneum release, the project was having some issues pertaining to a lot of users failing to heed the multiple warnings not to use the same login details on multiple sites. This ended up in the Electroneum team totally freezing all wallets, refusing to buckle under pressure from community members to release the wallets and let anyone who DIDN’T listen to the security advice to simply lose their coins, they did the right thing, ethically and MORALLY which to me was a huge sign that Richard was the real deal. I honestly have full faith in Richard and the team to deliver the first mass adopted cryptocurrency!