What is Electroneum
What is ETN? The developers position the coin as a mobile cryptocurrency and set a goal to create a meaningful alternative to Bitcoin without having BTC problems such as the speed of transactions, commissions, and others. On the website of the project, it is stated that this is the first coin that will be available for mining on the phone.
Basic facts about Electroneum:
- High security of wallets: the developers promise that it is almost impossible to hack them;
- Fast transactions: the developers have a global patent for the technology by which the block can be found every minute;
- The reward for the mined block is 7,500 ETN;
- The coin is divided into 100 atoms (according to the principle of how the dollar is divided into 100 cents), this is more convenient than, for example, in case of Bitcoin, which is divided into hundreds of millions of satoshi;
- ICO was successful, raising $ 40 million, and was completed ahead of schedule.
And the main thing lies in the ETN CryptoNight algorithm, so ETN can be mined on ordinary processors and video cards, and of course on a smartphone. You don’t need an ASIC to mine this coin.
- The cryptocurrency is developed on its own blockchain, which is an improved copy of Monero.
Electroneum users will undergo mandatory personal identification, without which transactions will become impossible. Now the first level of the Know Your Customer principle is in effect, the second one will be introduced on November 12, and later – the third one. Identification of its users will give the project the opportunity to become a partner of large companies in the financial technology industry and the telecommunications market. Such players in the financial market refuse to work with those crypto companies that serve anonymous users, thus personal identification will eliminate this problem.
How and where to sell/buy ETN
Electroneum (ETN) can be traded from a majority of online exchanges. Various exchanges provide different payment methods for purchasing ETN coins. Currently available payment methods are the following:
- Debit or credit card
- Bank transfer
- Atomic swap
- Trading pairs
Electroneum can be exchanged on the following 11 trading platforms such as:
- Huobi Global;
Users work with ETN / BTC, ETN / ETH, ETN / USDT trading pairs. On the Liquid exchange, you can exchange ETN tokens for the Euro, and on Sistemkoin you can convert ETN for Turkish lira or US dollars.
The ETN team has released software for instant payments using ETN cryptocurrency. The program is called ETNCommerce, and it will allow merchants to start accepting payments for their goods and services in crypto coins. The new service will be easy to integrate and it can work in online stores along with PayPal, Visa and MasterCard. If the first sellers start using this service in the near future, it will also stimulate the growth of quotations.
How to exchange ETN to Bitcoin
When exchanging currencies, you should choose a reliable participant in the electronic market. Godex exchange service can be a prime example here. Thanks to the simple set of features of the site, the user will be able to understand all the intricacies of online currency exchange in a short period of time.
Godex does not request for scanned copies or passport photos, which saves a lot of time. Other exchangers may request user`s registration and verification. Godex online calculator will immediately display the 1 ETN to BTC rate as of the date of the exchange operation. Godex exchange service gives you an opportunity to convert ETN to BTC limitlessly and anonymously in a few clicks. Change ETN to BTC without any risk and on favorable terms from Godex partnering platforms.