Even if you are new to the cryptocurrency space, you must have already heard of ETN – one of the coins on the rise, an asset sporting an instant payment platform, and a strong community of followers. In this article, we will break down the basics of Electroneum, its advantages, and how to get ETN.
What is Electroneum (ETN)?
First of all, Electroneum is a payment platform based on blockchain. The project was launched in 2017 in the UK and started off with a $40 million ICO. The solution was designed specifically for the use on mobile devices, which comes as no surprise – more and more crypto users choose to operate through their smartphones due to increased speed, performance, and overall convenience. Initially, Electroneum was created as a soft fork of Monero, but in 2018 the project moved to its own code. ETN, a native asset of Electroneum, is claimed to be the very first KYC (Know Your Customer) and AML (Anti-Money-Laundering) compliant cryptocurrency and is, too, mined with the use of mobile technologies. The compliance feature is actually quite interesting, as this regulatory standpoint was added to the project back in 2018 before the European 5th Anti-Money Laundering Directive was introduced to the crypto space. When the Directive came out, Electroneum users were already fully prepared and compliant.
Despite being quite a recent addition to the crypto pantheon, Electroneum has quickly gained a strong and loyal fanbase – the main adoption strategy of the project is focused on being viral, social, and accepting. This path is often well-received among cryptocurrency affectionated, so ETN started off with the right foot.
As we have already mentioned before, Electroneum has its native crypto asset – ETN. The total supply of the coin is 21,000,000,000 units. A bigger cap than the one of Bitcoin was chosen to promote adoption and overall satisfaction of Electroneum users. Having more coins in existence makes a chance of being a full-coiner much more likely.
ETN mining is done through Cryptonight PoW algorithm (Cryptonight is also used in Monero, Bytecoin, and other well-known mineable currencies).
ETN can also be mined virtually with the use of mobile devices – despite the fact that it is not “mining” per se, the users run virtual Elecroneum miners and get ETN airdropped.
Electroneum – main competitive advantages and features
Besides the above-mentioned payment platform and cryptocurrency, Electroneum prides itself with a solid use case. Thousands of cryptocurrency affectionates are using their talent and skill to work through AnyTask.com – a marketplace for freelance work launched by Electroneum. The working system is quite simple and similar to the traditional services alike, with the only difference that the executors are being paid in ETN directly after their work gets approved.
Another solution, that was freshly launched in 2020 is called ETNDonate.com. The goal of this platform is to help charities to promote themselves and earn money for the good cause. The donations are received at zero cost, and the charities working with ETNDonate can move the funds to pretty much any place in the world freely.
How to get Electroneum (ETN)?
Electroneum has been performing well, so the majority of well-known cryptocurrency exchanges supported ETN swaps. This makes the task of getting some ETN coins generally easier, but also brings some complications for those willing to get a better deal. If you are looking for Electroneum at the best price, it would be a great pick to look into cryptocurrency exchange aggregators such as Swapzone. Our task is not only to provide the opportunity to swap ETN but also to give users options to choose from along with the needed data on the exchange services.
How to convert cryptocurrency to Electroneum (ETN):
- Go to the main page of Swapzone.
- Select the currency you would like to exchange and enter the amount in the Deposit list.
- Pick ETN in the Receive list.
- Choose the deal you would like to proceed with from the list – all the available offers from our exchange partners will be listed there. You can sort the offers out by best rates, best swap time, and the rating of the service provider.
- After picking the offer that suits you best, click the Exchange button to proceed.
- Enter the recipient’s address on the next screen. Make sure you have entered the information correctly – the exchanged currency will be sent to this address.
- Check the information once again. If everything is correct, click the button Proceed the Exchange.
- Send the necessary amount of cryptocurrency to the wallet address the service provider has generated. After the deposit is received, our partners will exchange it to ETN.
- Exchanged ETN coins will be sent to the address you have entered.
Electroneum – summary and general ideas
Electroneum got the hype they deserve among crypto users worldwide. When talking about the features of a taken cryptocurrency, Electroneum is a great example of a platform with a variety of use cases that have been thought out by the team and are mostly working directly with the existing and future token holders. Hence, Electroneum and its perspectives on the market is something to be monitored. The asset itself, ETN, is supported by the majority of services and is receiving great support both from its own community and from the users of popular cryptocurrency wallets, exchanges, and other services. We have, too, encountered waves of positive feedback after supporting ETN on the platform, so the team gives total head-up to all the community members looking forward to wider adoption.
As the main competitive advantage of Electroneum is the ease of onboarding, effortlessness, and convenience, it's fantastic that ETN can be received equally rapidly and hassle-free with the use of third-party services. You can see the full list of services supporting ETN on the official website of the project, and, when it comes to exchanging ETN and finding a better swap deal, Swapzone is always here to help with finding the best services and prices for Electroneum ETN.