Electroneum is a new cryptocurrency, made just for your mobile, making it easy for you to send, receive and securely trade digital money on your smartphone and, you can mine coins with said phone.
Once your investment funds are in your wallet, Electroneum can be exchanged for Bitcoin, Ethereum, US dollars or any other real world or crypto currency, whenever you choose.
How to Mine Electroneum
Mining Electroneum on a smartphone is fairly straightforward (maybe):
- Download the app to your device and create an account.
- Log into the app using your credentials.
- Go to the Miner tab at the bottom and click the Start Mining button.
I didn’t see the Mining tab but when I logged it the Mining option just popped up, very confused.
While mining for Electroneum, your phone won’t be performing real mining.
Instead of actually using your phone’s CPU to solve complicated cryptographic problems, the app will continually monitor the available CPU power on your phone. In this way, it will determine the amount of CPU power that could have been used for mining, had the phone actually been mining.
Your phone will then be issued with a hash rate (speed of mining, if you will) based on its available CPU power. ETN coins will be credited to your online wallet based on this hash rate.
As of right now I have no idea how much power it will suck out my phone or how much ETN I will earn but I’ll let it run a while and update this post. What I will say is it’s a fun way to get in to mining and it wont cost you anything
For further details on Electroneum.