Electroneum (ETN)
The Name, "Electroneum" at first may sound nerdy and right out of the Pokemon world, yet this is one of my favorite picks and has huge potential as a community coin with utility and also it has been Moonish since the launch. In this exhaustive article I will talk about following:
1. About Electroneum, Team, Features,Community, Price, Challenges
2. My experience as an early investor
3. Future of Electroneum and price prediction
4. Why it deserves to be in our portfolio among big names
5. Little bit about this contest and @blury
1.About
Electroneum on its website is presented as "The Mobile Cryptocurrency". It says that the currency is especially designed for SmartPhone users that simplifies the complex experience of crypto markets for them and makes it fun. Users can download Electroneum app and use it as wallet to accumulate, transfer as well as mine the Cryptocurrency using only their Mobile Phones. In this way it appeals to masses even in third world countries to have an experience of Cryptocurrencies as well as mining them through their handsets.
Team
The team behind Electroneum is led by Richard Ells who has a history of building successful digital businesses like Sitewizard and retortal.com and has a vast experience of more than 20 years in this field. The team has more than 40 developers who are working hard since its inception. They have a vast experience in Viral Marketing too, Electroneum being the latest example that helps it reaching huge population.
Features
What is unique about Electroneum? Because, as we see most of the Cryptos out there are either copy of Bitcoin or are scam. What makes it different from others is its simplicity, its main concern to make crypto/mining experience available to every person across the globe. First, Mining is fun with electroneum because in its app Mining is done playing game. It does not drain your battery much as the actual mining takes place in background on their server even when your phone is idle. Although, Mining is still possible through PCs and traditional mining hardwares. Second, unlike other cryptocurrencies viz. Bitcoin Ether or Monero it uses only two decimal places. For eg. you generally buy or transfer 0.22424760 BTC, but in Electroneum, it will be like 20.55 ETN or 0.72 ETN. It is just like what we are used to in Fiats like $ 21.99. Isn't it really simple and convenient. So, basically it brings best of both Crypto and daily life and merges both.
Community
On its official Electroneum website, the number of registered users as of now are nearly 424,000. Apart from that on their various Telegram groups their are more than 50K members, if we add all the followers from Twitter and Facebook too, then they are already nearing a Million. This number is huge for the infant world of Cryptos. So you can see that it has the support of such huge community.
Price
In its PreICO sale during the months of August and September'17, 1ETN=0.01$ (don't forget bonuses for early adopters). Currently, 1ETN=0.16$. This means the price of Electroneum is 16 times its value during its ICO phase. Early Investors are already in profit. This is when it is only listed on one small exchange, Cryptopia. It has a supply of 5 Billion Tokens. On its launch it was in TOP 30 on Coinmarketcap. Due to security issues it was relaunched and even then its price hardly dropped below 500 Satsohis. Since its launch on Cryptopia, it has never lost the top spot for being the most traded coin. In the coming days, the team is planing to launch it on other big exchanges like Bittrex, Hitbtc, Bitfinex, etc.
Challenges
Being a successful ICO and a huge community behind has its own challenges:
- The foremost being security, though they have taken care of it with multiple security measures, even partnering with Amazon and Hackerone.
- Their Mining Game app is still under development which is another huge challenge as it was their USP
- Currently listed on only one exchange and that too is very small, need bigger names to instill investor's confidence.
- Promotion as a utility coin and marketing in third world countries, also mining pool rewards are still low.
- Support for such a huge community would be a challenge and its CEO who is already in multiple businesses may find it hard to maintain the balance.
2. My Experience as an early Investor
I am an early investor in this project when it was a meager community of only 150 members on telegram and in its initial days it got very slow adoption. I bought Electroneum at the rate of 150ETN/$ during Inital sale. What appealed to me the most was the concept of Mobile Mining and the idea of crypto for the masses. As can be seen that I am already in huge profit, but I am still hodling it like most of the members as it has huge potential to be among top 10 coins.
3. Future of Electroneum and price prediction
Lately, it signed an MoU with Telecom and payments giant Xius. that being said, huge experience in marketing and Digital ventures will help Electroneum nurtured properly. Also, concern of the team members regarding security and measures taken after the mishap during initial launch shows how serious they are for their community. As for the price, even with conservative figures 1ETN=1$ is not very far.
As far as Price and volume is concerned, both are going up despite market swings. Below is the proof.
Their is nothing much in the technical analysis front as the project is still in its infancy and is relatively new, so there is hardly anything in the charts to study. But despite this, above charts are enough to convince anyone that even after initial dump during its launch it has recovered quickly and is still bullish.
4. Why it deserves to be in our portfolio among big names
Are the above reasons not enough or do we need more. Let me reiterate again, Security+Utility+Ease+MobileApp+Huge Community+Experience Team+Top 50 MarketCap+Mobile Mining+More exchanges in Future+etc,etc.
5. Little bit about this contest and @blury
This is off-topic, but our admin @blury deserves huge appreciation for his work for all the efforts in educating us and bringing quality content to all of us including this contest. I am also a member of other TL group where admins provide more than 50 signals per day. Contrary to that @blury hardly provides two or three posts a day. But the difference is the quality, concern for the members and interaction with the community in other sub-groups. In other channels, admins do not interact personally with every member who PM them or do when only money is involved. @blury on other hand has replied warmly all the times. I am not a patron but I still earn decent amount from his free signals. Also, he is not focused on crypto only, but has other groups like Fun content and chat group which provides much needed Lols in this tense crypto world. Finally , I would like to thank him for his effort in providing qulaity contents like TA, Charts, Coins potential, ICO analysis and this contest. Do follow him on steemit community too. May you and your community grow slowly and steadily like the Turtle.