Methods for acquiring cryptocurrencies are numerous.
You can buy some. You can get score them from airdrops. You can hunt bounties on Bounty0x and earn tokens for social media interaction and content creation.
And then there's the original crypto creation method of them all -- mining.
Before the original bitcoin faucet came along, which was before bitcoin traded on exchanges, mining was the only way for outsiders to stash coins in their digital wallets.
Today, you have many options in mining.
Dedicated hardware yields the most crypto but also consumes the most electricity.
You can mine with your laptop, but gains, while steady, are minimal.
And on a global scale, the majority of citizens own neither a laptop nor a mining rig.
Smartphones, on the other hand, and growing and growing in popularity. For some, it's the only computational hardware device they own.
Which makes smartphones a fantastic entry point for new crypto enthusiasts...
Accelerating Crypto Adoption
Although we're still years away from blockchain and crypto going full mainstream, efforts to push both industries forward are certainly welcome.
Smartphones are a natural fit for crypto. People who have them, carry them everywhere.
Who needs a wallet if your phone can store digital assets designed for everyday spending?
Now, I always encourage you to do your own research on any blockchain project you consider. This post contains no financial advice.
That said, who doesn't like free money?
Electroneum is currently in the #61 spot by market cap.
And, you can trade $ETN on Japan's Liquid exchange, Singapore's KuCoin exchange, as well as some decentralized exchanges.
Trading pairs include $BTC, $ETH, and $USD.
Want to learn more about the project?
The Electroneum website is a great place to start.
Personal Experience with the Android App
It's important to note that this isn't true mining -- your phone won't be solving complex equations to earn crypto rewards.
Instead, this is simulated mining.
The important part is you're earning free crypto that you can freely trade on exchanges.
1) Payout Occurs after 100+ Tokens
Initially, this figure sat at 10.
Whenever 10 - 15 coins accumulate in the miner, the app auto-deposited them into the wallet.
On my phone, 10+ coins take 3 - 4 days to harvest.
Now, it'll take 100 $ETN before anything appears. Your miner, depending on your phone's hashrate, may run for a month before payout occurs.
2) The App Takes Naps
Don't rely on the app to quietly run in the background for weeks on end.
Now and then, the miner will shut itself down without my input.
Restarting is as simple as tapping a huge, colorful button, but I'd be great if the app stayed awake longer.
HODLing on your phone is free and virtually effortless.
The ETN project gives you phone-mineable tokens that currently trade on major exchanges.
Now, the bear market is a perfect time to stash tokens in preparation for the next bull run... but... will it ever get here? You tell me!