Electroneum or ETN is a digital smart-phone cryptocurrency that has attracted so many potential users ever since its launch. It was first introduced by the US but it quickly set its feet in the market as British bitcoin profit official app and various other platforms started using it.
While other currencies got their stance slowly, the use of Electroneum spread fast. It is known as one of the most useful currencies, but why is it so? Let's take a look into it:
Convenience and Ease of Use
As we have highlighted earlier, Electroneum is a mobile-based cryptocurrency so it is quite easy to use. You don't need any fancy hardware, no striking servers, no terminals, or anything fancy to trade it. Just a mobile phone is enough to trade the currency.
You can also earn free coins by using their application (iOS or Android). Thus, you can bring the financial system, online buying and selling, trading of cryptocurrency, all to your phone. Moreover, Electroneum is a user-friendly application where you can make ETN currency trading smoothly. You can check your balance, mine your coins, make transactions, and transfer coins easily.
Patent Pending Instant Payment System
ETN went ahead of bitcoin with its patent-pending instant payment system. Previously, the cryptocurrencies launched before it like bitcoin needed up-to an hour to completely process the transaction through blockchains. However, ETN made these transactions rapid over the blockchain.
It is an electronic peer-to-peer cash system that transfers instantly. Whether it is a local or global transaction, just two seconds are required to process your payment. It is very useful for co-operations especially because they do not need to hire a blockchain engineer for the remittance of ETN.
To fully elaborate the functioning of ETN:
Suppose a buyer sends ETN to some seller for goods, the application checks if the sender has the required amount. Then, it reserves this amount so it cannot be used again, and gives instant confirmation to both parties that the payment has been made successfully.
This point was also addressed in the introduction that as compared to other cryptocurrencies, ETN made its way through the market real quick. It took five years for bitcoin to reach its first million real users whereas; ETN has established over three million legitimate users in just three years. ETN even ranks at #4 for website activity, which according to Alexa, is an important scale to measure the real usage of a cryptocurrency. Thus, it is the fastest-growing currency after bitcoin.
A currency that grew so rapidly has its foot in every country. The currency can be used in most parts of the world and has the same facilities everywhere. It is the only cryptocurrency that allows users to top-up their data and airtime in 140+ countries.
Furthermore, it has electricity top-ups in four African nations. Millions of blockchain transactions have been completed by this currency including 300,000+ app to app transfer and 200,000+ airtime and data top-ups. Thus, it is a widely used cryptocurrency.
ETN is known as the 'Enablement Currency' which means it’s objective is to provide an easy to use medium of exchange to the unbanked citizens of the world. The currency was not only made by keeping in mind the 2.2 million smart-phone users but it also targets the citizens of underprivileged countries especially Africa, who do not have access to modern banking facilities.
There are various cryptocurrencies in the market at present and each has its pros and cons. However, ETN is rolling in the market these days. Thus, if you are working your way into the cryptocurrency market, you can start with ETN. However, you must do complete research about its current pricing, trends, and future expectation before you invest in it.