Question 1

What is the current price of Electroneum (ETN)?

Accepted Answer

The current price of Electroneum (ETN) is £ 0.00705881, it has increased in the last 24 hours.

Question 2

What is Electroneum (ETN)?

Accepted Answer

Electroneum is a unique cryptocurrency that aims to simplify access to the digital market, especially for smartphone users in developing countries. It is often referred to as an 'enablement currency', targeting approximately 350 million smartphone users to enter the digital market for the first time. Furthermore, Electroneum claims it has the potential to tap into a 3 trillion dollar market, as per Price Waterhouse Coopers' 2017 Global Fintech Report. Electroneum positions itself as the first British based cryptocurrency.

Question 3

Who are the creators of Electroneum?

Accepted Answer

The team behind Electroneum is composed of 12 members based in Kent. Richard Ells, co-founder of SiteWizard and Retortal.com, leads the team as the CEO. James Atkinson, with over ten years of development experience, heads the Electroneum Development Team and primarily works on the Electroneum app. Dean Cole is another notable member of the team, renowned for maintaining and developing servers crucial for mining and transacting Electroneum.

Question 4

How does Electroneum work?

Accepted Answer

Electroneum operates through a mobile app, striving to become the most user-friendly cryptocurrency. The app comes with a mobile miner that awards a small amount of ETN to users each day. This daily distribution of ETN fuels market liquidity and stimulates viral growth.

Question 5

What makes Electroneum unique?

Accepted Answer

Electroneum's unique selling point is its focus on ease and accessibility. By targeting smartphone users in developing markets, it reaches individuals who traditionally might find it difficult to obtain digital currencies. Furthermore, it presents advantages to mobile operators in these regions, including substantial transactional cost savings, promoting partnerships that can expedite its user growth.

Question 6

Is it easy to mine Electroneum?

Accepted Answer

Electroneum claims to make mining fairly straightforward. The currency is ASIC resistant, meaning it can be mined using a CPU. Users can quickly download software and join a mining pool to start collecting ETN. The average block reward for mining is about 7000 ETN.

Question 7

What is the maximum supply of Electroneum?

Accepted Answer

Electroneum has capped its total number of coins at 21 billion. This is a strategic decision to make the cryptocurrency more approachable, as transaction figures can be handled in 'real money' terms as compared to other cryptocurrencies like Bitcoin, which is capped at 21 million.

Question 8

Can Electroneum be used for online gambling?

Accepted Answer

Electroneum intends to leverage its ease-of-access to be a preferred currency for online gambling sites. Currently, several gambling websites are accepting Bitcoin, which can be challenging to obtain, especially for people residing outside of America. Electroneum is aiming to bridge this gap by offering a more accessible alternative.

Question 9

Where can I buy Electroneum (ETN)?

Accepted Answer

Electroneum (ETN) can be acquired on KuCoin, Huobi, CoinEx, BitMart, amongst other cryptocurrency exchanges. Remember to practice safe trading habits and keep your ETN secure after purchase.

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