Electroneum Review: What You Should Know
Electroneum (ETN), founded by Richard Ells and initially launched as an ICO in 2017, is a mobile cryptocurrency, a term that ETN has coined, and is aimed at mass adoption. This cryptocurrency also permits mobile mining and acts as a wallet for smartphones.
In this Electroneum review, we will not only provide key info about this crypto that you need to know, but also look at whether or not Electroneum is a scam.
A Brief Intro
Electroneum’s mobile cryptocurrency is designed so that a small investor can get an opportunity to invest and enjoy the purpose of cryptocurrency as the value of ETN coins gradually increases with time. It was developed in the form of mobile applications with a less complicated wallet function along with easy mining features for others to download the app easily as well as to get mining and acquire cryptocurrency. It is a top-ranked currency and seen to be more user-friendly than Bitcoin. It is widely available in different languages (20 of then, actually), which helps with their plans on reaching various parts of the world.
Electroneum provides a method for secure instant transactions to other global network platforms. Initially, while at the stage of launching, the investors of its ICO were unable to access ETN coins. At that time, there were unwanted issues in the signing up process, pin verification, and mobile wallets. After making certain security changes in its blockchain technology, it was relaunched.
This crypto occupies a 61st position in the top 100 list of cryptocurrencies by coin market capitalization. The present token exchange price situation of Electroneum on the market can be seen below.
Initial Coin Offerings (ICOs) offer a new cryptocurrency or a crypto token to investors as a way of fundraising money for a business. As mentioned previously, Electroneum launched its ICO in 2017 and successfully accomplished raising $40 million during its ICO process. As is normal for ICOs, Electroneum issued information about its purpose/solution, which is to make its cryptocurrency accessible to 2.2 billion smartphone users, its team and advisors and financial data, as well as make its white paper available to interested parties.
Is Electroneum a Scam?
The Electroneum teams had cleared that some individuals were attempting to scam others by trying to get them to sell or send their QR code or wallet address using social media platforms. The team advised everyone to be aware of those kinds of scams and verified that the ETN addresses are individually generated on each personal account from the Electroneum official website. Electroneum also issued some steps to take in order to prevent users being a victim of such fraudulent activities.
The team suggested being attentive to fake wallet addresses because only the authorized personnel can issue the coins that can be accessed from the company owned website. Coins that are in a pre-sale phase were also determined to be an attempt of cheating. The fraudsters were also trying to pretend that they could sell the coins at some discounted price. In addition, any attempt at or fraudulent activities can be reported to Electroneum via their social media channels and email.
This Electroneum wallet review has found that the Electroneum wallet is designed to store the cryptocurrency for the purpose of reserving and trading. It is a digital currency wallet that is available in an Android version of the application and the mobile wallet can be easily downloaded from Google Play. An iOS version is in the works too and the team from Electroneum is just waiting for the go-ahead from Apple before this will be available.
The mobile wallet of this cryptocurrency is created to work effortlessly without any requirement of a computer system. The cryptocurrency wallet has built-in software that is used to communicate with the blockchain.
Authorities developed this wallet app to let millions of users easily access the application. The Electroneum App Wallet for smartphones is incredibly user-friendly. The best part of the mobile-based app wallet is that you can mine Electroneum by using the processing power of a mobile device.
Nonetheless, safety measures have to be taken while accessing the Electroneum wallets.A paper wallet is another form of a secure cryptocurrency wallet. So, while using your mobile wallet, be aware of any malware systems, as this would make your Electroneum wallet unsecure.
In this Electroneum review, it was found that the purpose of Electroneum is to make cryptocurrencies widely accessible for mass adoption, in both the mining thereof as well as providing digital payment solutions.
- The digital currency wallet is user-friendly
- Electroneum can be mined using the app on a smartphone device.
- Transactions, payments, and trade management processes can be easily done in a secure way.
- The cryptocurrency app wallet is quite vulnerable when it comes to malware or a virus that may attack the systems
- Electroneum’s paper wallet currently provides the highest level of security
- Usage of Electroneum’s mobile wallet might slow down your device or reduce its lifetime.
Many professionals believe that Electroneum coins are a powerful investment as the value of the ETN coins will gradually increase in the future. And while there are individuals trying to scam others out of their crypto coins, like ETN, Electroneum is not a scam. However, it is always wise to not just jump on board in investing in an ICO – do your research by looking at the company from all angles, read its white paper and if something doesn’t seem right, don’t invest in it.