Wednesday, May 22, 2024

Buying Electroneum- Everything That You Need to Know

If you have been lately keeping a tab on the Electroneum updates these days, then you might be surprised to see people’s response to its growth and strategies. As of the data collected in the last couple of months, Electroneum has exceeded more than 120,000 cloud miners already. Traders and followers of this cryptocurrency have started seeing its growth. That means more and more people are expected to use ETN coin trading more as compared to other cryptocurrencies, including Bitcoin.  

With the expansion of Electroneum, people are appreciating its visibility and are looking for the best ways to invest in the cryptocurrency.

ETN claims that it is much easier to use as compared to other cryptocurrencies since it allows all the transactions to be conducted via its mobile application. Moreover, people can use the mobile app to mine new coins.

While it is different from the majority of the existing cryptocurrencies, it makes it a little more complicated to buy. 

A lot of people don’t know how they can buy Electroneum coin. Well, truth to be told, the buying procedure is a lot different, and the steps involved are a bit complicated.

Understanding Electroneum

The purpose of creating Electroneum is to allow anyone with a mobile phone to deal in cryptocurrency. Thus, people with no access to computers and those living in poorer countries find it useful.

The platform was created by branching off the Monero code. At present, there is approximately 6.7 billion ETN in circulation with a maximum cap of 21 billion that can exist.  

By downloading the ETN app, which is surprisingly user-friendly, traders can receive and send Electroneum coins, priced less than a dollar. This is incredibly huge savings and answer to the question of why more and more people are inclining towards Electroneum than other cryptocurrencies.

Investing in Electroneum Coin

As enthralling as it sounds, Electroneum is still a new cryptocurrency, which means there are only a handful of exchanges where you can buy it. Which exchange platform you use entirely depends on the fees, payment methods available, or something else.

The following are the exchanges from where you can buy Electroneum coin.   

#1 Kucoin

Kucoin is a Hong Kong-based exchange created in 2017 that allows users to sell, trade, and buy over 70 different cryptocurrencies, including ETN. However, one of the disadvantages of using this exchange platform is that it doesn’t allow traders to use fiat money to withdraw or deposit. Hence, you need to first fund your Kucoin account with a different cryptocurrency such as Bitcoin or Ethereum for trading ETN.

#2 Bitbns

Bitbns is an India-based exchange that lists ETN along with several other cryptocurrencies to sell and buy for INR. It comes with low trading fees, which decreases with an increase in the trade volume. However, compared to other Indian exchanges, Bitbns charges higher fees. Moreover, it supports major INR deposit features like IMPS, NEFT, and UPI.

How is Electroneum Different? Electroneum separates itself from other cryptocurrencies by claiming to be incredibly user-friendly. It has a mobile app, so you don’t have to worry about security or wallet addresses.

Monesh Kumar
Monesh Kumar
Monesh Kumar is a cryptocurrency and blockchain enthusiast. He trades cryptocurrencies and holds some but he prefers holding Bitcoin, Ethereum & Cardano.

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