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 secure mobile crypto 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 to give small investors the opportunity to invest and benefit as the value of ETN coins gradually increases over time. The project was developed as a mobile application featuring a simplified wallet function and easy mining capabilities, allowing users to download the app effortlessly and start mining cryptocurrency. Ranked among the top currencies, Electroneum is considered more user-friendly than Bitcoin. Additionally, it is available in 20 different languages, supporting the team’s goal of reaching diverse global markets.

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.

Electroneum ICO

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 team warned that some individuals tried to scam others by asking them to sell or send their QR code or wallet address on social media. They advised everyone to watch out for such scams. ETN addresses are generated individually for each personal account on the official Electroneum website. Electroneum also shared steps to help users avoid becoming victims of these 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.

Electroneum’s Wallet

This Electroneum wallet review found that the wallet is designed to store cryptocurrency for reserving and trading. It is a digital currency wallet available as an Android app. The mobile wallet can be easily downloaded from Google Play. An iOS version is in development. The Electroneum team is waiting for Apple’s approval before releasing it.

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 mobile crypto wallet and provides an additional layer of protection. So, while using your mobile wallet, be aware of any malware systems, as this would make your Electroneum wallet unsecure.

Final Thoughts

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.

In short,

• 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. One of the reasons for this confidence is the secure mobile crypto wallet that Electroneum offers, providing users with safe and convenient access to their funds. 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.