Electroneum cryptocurrency was launch in 2017 by British project. The team was planning to offer users two types of mining, which are GPU and mobile. However, something went wrong and the net was captured by malicious GPU miners. This led to system block and transaction stack.
How can you mine Electroneum (ETN) cryptocurrency in 2020? Find out in this article.
Electroneum Cryptocurrency Explained
Electroneum (ETN) is an anonymous cryptocurrency that runs on its blockchain and is based on the Bytecoin cryptocurrency blockchain. Electroneum cryptocurrency was launched in 2017 by a team of developers. He wanted to create a cryptocurrency for the smartphone market, as well as for games and applications running on these devices. In 2017, the team organized an ICO (they managed to raise $40 million earlier than planned) and launched iOS and Android applications for ETN mining.
Most Bitcoin owners don’t really like the fact that one asset consists of 100,000,000 satoshi – it complicates calculations. Electroneum uses only two digits after the divider: 21.45 ETN instead of “0.089151 BTC”.
Electroneum has what it takes to become a viable alternative to Bitcoin. Here are some of its features that are worth mentioning:
- Coin’s transaction speed and security are as good as Bitcoin’s (and some even claim that Electroneum is more secure).
- The development team is impressive. The company consists of professional engineers, entrepreneurs and marketers.
- It can be easily mined on a smartphone or any other device.
In short, Electroneum coin has much in common with Bitcoin, although it is based on its own chain.
Is Electroneum Mining Profitable?
Electroneum cryptocurrency mining is very simple and affordable: even those who do not have powerful computers can deal with it. Since Electroneum was created for use by smartphones, you can mine it using your cell phone.
Let’s figure out some points which affect mining profitability:
- the more powerful your hardware is, the more profitable will be the mining results.
- devices that use less electricity are more profitable.
- if your hardware is expensive, you need to wait longer to get a profit.
- choose the pool with low fee.
You can always figure out your profit in a cryptocurrency mining calculator.
How to Mine Electroneum
There are only two ways to mine Electroneum cryptocurrency: ASIC and mobile.
Electroneum GPU and CPU Mining
As for April 2020, Electroneum mining with CPU/GPU became outdated. Non-ASIC hardware won’t probably bring you any profit because of the hardware and electricity expenses. However, you can mine cryptocurrency with ASIC miners.
Electroneum ASIC Mining
In the beginning, Electroneum team was against ASIC mining. Now they understood that ASIC miners make the blockchain stable and high hash power of the net.
You can use any ASIC miner which support CryptoNight algorithm. Innosilicon A8C CryptoMaster and Bitmain Antminer X3 (220Kh) are suitable to mine ETN.
Mining Electroneum in a Pool
Many crypto owners believe that it is better to mine solo without a pool, but beginners are highly recommended to start cryptocurrency mining with other participants. Pools will allow you to get payments every day, and Electroneum is supported by many platforms that differ by their commissions and reliability.
Our Electroneum mining pool list includes:
- etn.nanopool.org offers Electroneum mining with 2% pool fee. Servers are located in the EU, USA, Asia and Australia. The reward system is PPLNS.
- pandapool.io offers ETN mining with 1,5% fee. The servers are located in the EU. The reward systems are PPLNS and PPS.
Mining Electroneum in Mobile App (Android & iOS)
In January 2020, the developers made some changes in the mobile app. They renamed the mobile cloud mining in Electroneum Rewards.
As it has been mentioned earlier, you can also mine Electroneum using your mobile phone. To install the application and register as a user, follow these steps:
- Visit Google Play Store or AppStore. Download and install the Electroneum app.
- Open the app and click sign up: fill in your email and create a password.
- Choose your location.
- Now you can activate your ETN Rewards. You should do the selfie and then wait for the approval (48h).
- When you get the approval, you can start mining. Before starting, make a wallet by clicking the button ‘Activate my wallet’: setup pin, confirm e-mail address, fill in basic info, accept security notes and then prove that you are a human (captcha). For all these actions you will get 25 ETN.
All in all, it’s your turn to decide whether or not to mine Electroneum cryptocurrency. If you are interested, install the app and try to mine the coin in easier way. You can always buy any coin (listed on the service) fast and easy via Changelly. Cards accepted.
Changelly is a secure instant crypto exchange that has 150+ cryptocurrencies available to be swapped and bought at market-best rates. Operating since 2015, the platform and its mobile application attract over a million visitors monthly, who all enjoy quick and simple exchanges, low transparent fees, and 24/7 live support.