These days, one can access a wide variety of cryptocurrencies to go for while some are beneficial and some are not. That is why it might be hard to determine which one to invest in. Electroneum is one of the leading cryptocurrencies offered by the industry; consequently, it is worth considering.
This article contains some important information to know before investing in this cryptocurrency, along with a clear explanation of how and where to buy Electroneum.
What Is ETN?
Electroneum appeared in autumn 2017 in the UK, and the inceptive coin offering started with 40 million dollars. Noteworthy, it is famous as the first cryptocurrency launched by the team, which is British-based. The platform was developed on the Monero code, and the assets can be sent, held, and spent. There are approximately 6.7 billion coins in circulation, while only 21 billion may be ever made.
More About Electroneum
Electronium development was to establish a crypto coin that could be used on a mobile device. The ability to utilize it by anybody with the help of a smartphone is a great thing for individuals who live in less successful countries because the majority does not have a laptop or PC.
This project can turn out to be significant in developing countries because sending money from one place to another can be costly. For instance, the receiver will lose around 36 dollars in applying WU to transfer 300 dollars to Africa because the average fees are 12%. This amount is significant to many people, especially in the case of low living standards.
The Electroneum mobile application is user-friendly and allows users to send and get coins in a matter of several minutes, while the transaction will not cost more than one dollar. As you can see, it is a huge saving, indeed.
One more advantage of this application is that it provides people with the ability to mine coins from smartphones. Mining happens to be the procedure of applying computing power to get transactions verified on the blockchain. At the same time, mining well-known coins such as Bitcoin requires costly hardware that needs a lot of electricity. It makes Electroneum more beneficial as all you are to perform is installing the mobile application, signing in, and choosing the “start mining” option. Consequently, it is unnecessary to obtain any programming knowledge or special hardware, while you will not have to pay a lot for electricity.
It is also crucial to know that the performance of the asset`s price has not been consistent after its initiation. When it appeared, the value was 0.09 dollars per one, and, in the early days of January 2018, it made up 0.22 dollars per coin. However, a quarter later it decreased to 0.02 dollars.
At the same time, it is natural for cryptocurrencies to fall and grow because the prices tend to change quickly, which means that earning with these assets is all about the right decisions and timing in most cases.
How to Convert BTC to ETN?
If you do not know how to convert BTC to ETN, you may think that this process is complicated. However, there is nothing hard, especially when you follow the below steps:
- First, you must click on the BTC option, which should be on the left. It is also necessary to choose ETN to be on the right and see what offers are available.
- Your next step would be selecting the exchange that is recommended or the one you like best.
- When you do that, you will be required to provide your ETN wallet address so that you could receive the money. After you select “Next,” your order will be initiated to display the coin address.
- Lastly, you need to make a payment from your BTC wallet to that address. As a result, the service will exchange the coins; consequently, the Electroneum coins will be transferred to your wallet. As you can see, it is straightforward to convert BTC to ETN, and this process does not require any special knowledge from your side.
List of 5 Best BTC to ETN Exchanges
When you understand what ETN is about and are willing to purchase this cryptocurrency, you may wonder where to buy Electroneum coin. This asset has recently appeared which implies that it is only accessible in a few exchanges.
Below, you can view several services described in terms of their strengths and weaknesses. This information should help you hit on the proper solution.
This exchange aggregator is brand-new because it was created in 2020, but this online service has already become one of the best. The platform is user-friendly, which means that even not-so-tech-savvy users should face no difficulties. Another great thing about Swapzone is that all transactions are transparent.
- It is a helpful service to compare prices across various markets;
- Swapzone is free of charge, while no download is required;
- Customers can choose from more than 400 cryptocurrencies;
- There is an active community;
- It is possible to access video tutorials on the service`s YouTube Channel.
- The roadmap is a bit outdated;
- It is barely possible to find information about the background of the service and its team.
HitBTC is more suitable for experienced traders because it provides high liquidity. Even though it operates well, it is recommended to verify your account, which should help you avoid potential issues. It also supports 805 pairs, which is an impressive number.
- There is a wide range of cryptocurrencies available for exchange;
- The interface is simple and easy to use;
- The trading fees are relatively low.
- The online service has issues with transparency;
- Customer support needs an improvement in terms of speed and responsiveness;
- It is not a good option for beginners;
- The exchange is not regulated.
The online service obtains over 200 coins accessible for clients to trade-in. The special thing about this platform is that the trading is anonymous, which means that Godex does not require personal information. Thus, there is no need to get registered. The transaction rates are fixed, and customer support is available 24 hours. The online service is also easy to navigate, so it happens to be one of the leading exchanges.
- Clients do not have to submit personal information;
- It lists more than 200 crypto assets;
- There are no limits for order size;
- The design is great.
- Fiat currency support is not provided.
Binance is known for a wide range of functions and an excellent business plan. It is available in several languages, including Spanish, Turkish, and even Malay. Even though the platform is user-friendly, it is usually hard for beginners to figure things out.
- The online service is among the most trusted ones;
- It provides customers with the most significant features possible;
- The interface is fast and easy to navigate;
- The transaction fees are extremely low.
- Beginners tend to find the platform hard to use;
- The bigger part of traditional payment options is not supported;
- Daily market analysis is not given.
The exchange is available in many countries around the world. It was developed in 2013 and has become one of the safest and most trustworthy aggregators available.
- The trading service is impressive;
- It supports more than a hundred tokens and crypto-assets;
- It is secure;
- Customer support is available day and night.
- Huobi does not support fiat withdrawals and deposits;
- The signup process is long.
In this review, one can find all the significant information on Electroneum and purchase it. You can always make use of it if you intend to benefit from it. The cryptocurrency is worthy, which means that you should monitor its perspectives on the market.