Despite a recent bear market for cryptocurrency, investors remain hopeful that these digital forms of currency will rebound and create historical returns. Navigating the realm of investing these days is difficult with prices plummeting, making the ability to choose a winning coin near impossible.
If you haven’t given up hope on cryptocurrency, then now is the time to look for those with more innovation, technology, and a unique angle into the market. Electroneum, or ETN coin, has peaked a lot of interest lately with its mobile-centric deployment. Is this coin worth your investment? We’ve put together all the information you need to know to make an educated decision. Here are the facts on ETN.
What Is ETN?
ETN stands for Electroneum, which is adigital currency operating on blockchain technology. It’s similar to other leading coins like Bitcoin, Ethereum, and Litecoin, but with a few changes that make it unique.
With advances in technology, transacting cryptocurrencies can be difficult for those new to the market and even those that have been investing in crypto coins for a while. Electroneum aims to
simplify that processes through the use of an app.
Just download the app, and you’re ready to start gaining ETN coin. Like several coins that ran on the NIST5 algorithm, ETN is mined (in a sense). While that usually requires a high-end setup, users can mine their Electroneum straight through the app to keep things simple.
The app also features a built-in wallet to store your ETN coin. This allows any user to mine and manage their coins with a few swipes of their thumb. It’s a unique platform in the crypto world and one
that has many investors flocking towards this exciting coin.
Why Buy ETN Coin?
There are a few features to the ETN coin that interest buyers and sellers alike. First, most cryptocurrency transactions are somewhat public. Anyone can see both the receiver and sender in a trade, though any other information is severely limited.
With Electroneum, your exchanges are entirely private. There’s no fear of your transactions being traced back to their origin. That type of security is vital to the crypto world, especially with hackers growing in intelligence and cunning. Secondly, Electroneum sets the maximum number of ETN coin in circulation at 21 billion.
For reference, BTC’s cap is 21 million. Depending on how you view circulating supply, that could be an incredible benefit ETN has over the competition. Finally, Electroneum’s focus is on speeding up microtransactions.
That means making mobile payments, purchasing games, or sending money to friends is a speedy process. These features, including security, are ones you can manage in the app. The app is another feature that several significant coins like Bitcoin and Ethereum are lacking. Aside from convenience, the mobile miner and wallet are handy to have. Even with your coins saved to the mobile wallet, you can still trade them on several exchanges, too.
Is Investing In ETN Worth It?
Investing is as much a personal decision as it is an educated one. The more you understand the company behind a coin, the better idea you have of what your ROI can potentially be. Here’s some helpful information on Electoneum.
Electroneum launched back in September of 2017. This first-ever British cryptocurrency was led by a highly successful ICO until the platform was hacked in November. The coin went from 23 cents to a mere six in two months. As security issues were fixed, investors started returning.
The coin gained value, reaching 22 cents in January of 2018. Those who bought in low received incredible ROI in just three months given the 122% price growth.
The cryptocurrency market is facing a gap in technology, one that prevents it from reaching its initial goal of revolutionizing global currency. As priced drop across the board, every coin is feeling the effects.
Electroneum now trades at $0.00672166 as of this writing, fluctuating each day slightly. While ETN coin continues to perform at an average rate, investors are hopeful that the company’s mobile approach will generate increased interest. Several continue to mine the coin via the app, either holding out for an ROI or trading for another crypto coin of their choice.
2019 Price Prediction
No two experts agree on their price predictions, but some create more impact than others. Take John McAfee, for instance, whose predictions make him one of the top influencers in the crypto market. When it comes to ETN coin, McAfee is highly favorable.
He believes that the price of ETN will rise for several reasons:
All of those factors give ETN coin the ability to rise in price, but the market is still highly volatile at the moment. Conservative investors place the coin’s price at $0.0355 by the end of 2019, while the more hopeful believe it can reach $0.812.
Some even go on to say that Electroneum will reach $2.44 by 2023. So, do any of those predictions hold merit? With their focus on a user-friendly mobile experience, Electroneum does offer a benefit that other coins simply do not. This approach attracts individuals who would otherwise avoid the cryptocurrency market and its complications.
Electroneum’s community grew faster than Facebook and Twitter in the same time frame, reaching 1.6 million registered users in a year. The team at Electroneum is also focusing their efforts on an API that allows ACCEPT ETN instantly from any electronic point-of-sale system.
The combination, when completed, could make ETN coin the simplest cryptocurrency to use while increasing usability in online storefronts. If these projects are completed and the community continues to grow in 2019, then it isn’t impossible for Electroneum to reach the $0.0355 mark predicted by many.
If that level of growth continues into 2020, the coin could rise to $0.057 or higher, provided no mishaps occur, and the market rallies back from its current decline. While reaching a price of two or more dollars in 2023 would be incredible, a more realistic prediction would follow the growth trend set for 2019. That would make ETN coin trade at slightly above ten cents.
Given the current price of $0.00672166, that would be an exceptional ROI for those who invest now. Keep in mind that predictions are never 100% accurate. There are a large number of factors that can drive up a coin’s price or eradicate it. It’s up to you to decide if investing in this coin is worth your time and money.
How To Buy And Sell ETN
There are two ways to pick up ETN coin. You can either mine some through the app or buy it on an exchange. Like most cryptocurrencies, you cannot purchase ETN with fiat currency such as the U.S. dollar.
Most investors recommend buying Bitcoin (BTC) or Ether (ETH) first with money in your bank account, then placing those on a digital currency exchange like Coinbase or Kraken. You can then exchange them with people looking to sell their Electroneum and purchase BTC or ETH.
Keep in mind that not all exchanges support ETN. Always make sure to place your coins into a secure wallet after trading. Leaving them on an exchange is asking for a hacker to steal your investment. There are numerous options for safe, secure wallets easily found on the web.
Electroneum is a unique approach to cryptocurrency, gaining a lot of traction with its user-friendly mobile platform. Whether or not ETN has what it takes to turn the market around and attract the less tech-savvy remains to be seen, but its ever-increasing following is a positive sign.
We believe that Electroneum can help spur a rise in coin prices by showing that cryptocurrency is the way of the future. By making it so simple to use, a larger audience will realize that high-end security and a better global economy can be achieved through the use of crypto coins.
If the team behind Electroneum continues to implement innovative mechanics and strategies into their coin platform, then their price could very well rise to the predicted $0.0355 mark. Whether that happens in 2019 or after, the odds of ETN rising in value are high. For now, you don’t stand to lose a thing by downloading the app and mining away. Whether you choose to hold or trade for another coin is up to you, but it’s worth checking out during this bearish decline in the crypto world. After all, who doesn’t want free coins?