Electroneum is one of my favourite projects, not from a purely financial basis but because I think it is also a bonus for those to whom a few dollars a month is good money.
Electroneum allows you to earn ETN on your phone. You need to open the app at least once a week and extend the earning time to 7 days.
If you open your Google Playstore or Apple App Store, install the Electroneum App and please enter my Invite code, so I get a 5% bonus and you earn 1% more.
ETN was developed by Richard Ells who started his interest in cryptocurrency back in 2015 and was building GPU mining rigs (‘ugly brutes’ as he refers to them) by 2016. Even back then, when Bitcoin was worth just a mere $500, Richard knew blockchain technology would change the world for the better. When friends and family would visit, they couldn’t understand the complexity of cryptocurrency. Richard wanted to make it easier for people to use so they too could benefit from the transformational nature of blockchain technology.
In August 2015, the basis of what has now become the Electroneum ecosystem started to develop. Throughout the rest of 2015 and 2016, Richard and the team continued to build upon the project. In January 2017, Richard formally raised the initial investment required to launch the cryptocurrency, subsequently forming Electroneum Ltd in July 2017.
In September 2017, Electroneum made ETN exchange tokens available for sale in their Initial Coin Offering (ICO). The ETN token sale was a great success closing early after having achieved the maximum Bitcoin and Ethereum targets. The Electroneum ICO is still the record holder for the largest ICO ever to take place by participant numbers (115K+). The value of the Bitcoin and Ethereum that was used to purchase ETN was $40 million USD at the time the sale closed.
The Bitcoin and Ethereum from the ETN purchases are now being used to develop and promote the Electroneum ecosystem, supporting partnerships with MVNOs, MNO, corporates and retailers.
With this app, people can top up their phones and transfer funds overseas.
Electroneum is listed on quite a few exchanges and here are the market stats at time of writing.
Obviously the entire market is in a temporary freefall at the moment and everything's value is down right now.
So, how does this app help people in 3rd world countries? Mobile Wallets are widely used in 3rd world countries and they often use their phone wallets to pay for things. With this app you can top up your phone balance (I live in Vietnam and I can top up my phone using this app).
You can also send ETN using the app's wallet to your friends or family living in 3rd world countries.
There is a use case of one of the orphanages in Africa where all of the members have downloaded the app using the Orphanage's referral code - the orphanage receives the referral benefìts so they earn 5% of all the orphans phones and the orphans all earn an extra 1% for their individual mining.
I think this is a good app, you will earn a few dollars a month and you can help me by using my referral code (6D4C94).
How Corona Virus is affecting me
I am currently trying to raise some money by Selling my Photos and accepting donations online.
