Connect with us

Altcoins

What would you buy when Electroneum (ETN) reaches one dollar?

Published

on

Electroneum
READ LATER - DOWNLOAD THIS POST AS PDF

Electroneum is a very interesting blockchain project that puts most of its emphasis on micropayments and mobility. Mobility is such a core value for Electroneum that its token (called ETN) is mined using an app you can install in your mobile phone or your tablet. It’s as simple as that, and it doesn’t take that much energy out of your battery. Actually, if you install it, you’ll barely notice the difference.

It’s a very young project that’s not getting that much attention. The token is worth $0.0164, and it’s ranked at 53rd by market capitalization. So, it’s not that impressive, right? Wrong. It holds a lot of promise which is why we are writing a full article about it.

Let’s say you start mining the ETN token and hold it for a while until it reaches $1.00USD (which is about 59 times higher than it is right now). What would you buy with it? And what can you do so that the token actually reaches that value?

Well, by the time it reaches that price, adoption will be widespread and you’ll be able to buy just about anything you’d like using the Electroneum (ETN) stored on your mobile phone. You want to pay for beer, cigarettes, or your groceries? You want to buy a house or a nice car? Chances are you’ll be able to do that two years from now.

Now the question is, how do we get there?

For ETN, as well as for any other cryptocurrency in the world, increase in value will come from mass adoption. It will be adoption and usefulness that will change the market. It will be the real economic value that will drive every token’s price instead of speculatory pressure, which is what’s been the main force behind the market up until today.

You can help with mass adoption, did you know that? How? Well, first of all, get some ETN. You don’t have to buy them; you just need to mine some in your tablet or your cell phone.

Once you get ahold of some ETN tokens, the next thing you do is, quite simply, to locate the places that are taking them as means of payment and spend them.

If you are willing to hold on to your Electroneum tokens (ETNs) for the next two years, we can’t criticize that, of course. By then they will be a lot more valuable than they are now, but by using the coins you’re making them useful, increasing demand, increasing trade volume and bringing attention to the token. In other words: spending your ETNs will make them more valuable in the long run.

Remember that this is not a cryptocurrency like Ripple’s XRP which was never supposed to be useful at the retail level (but they are now fixing that mistake). ETN is supposed to be useful for everyday payments from the beginning.

Granted, Electroneum is not accepted by that many businesses in the world yet. But the more it’s used, the more crypto-skeptics will read the writing on the wall and start accepting it as a means of payment.

So. Mine it. Then keep it if you want, or use it. But this is a project whose value will rely on their users, not in the exchange market.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Flickr

Altcoins

Top 3 Cryptos to Serve as an Alternative to Bitcoin

Published

on

cryptos
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto market continues to struggle on its way of reaching mass adoption, with most people focusing on Bitcoin. However, Bitcoin still has its fair share of problems, a few of which are quite challenging, with no guarantee that they will ever be fully solved.

While Bitcoin is, and has been the largest cryptocurrency from the moment it was created, there is no guarantee that it will remain at the number one spot forever. While this is mostly what skeptics tend to say, it is still a possibility that cannot be ignored. With that in mind, here are top 3 cryptos that might serve as an alternative to Bitcoin in the future, or maybe even now, considering how high its fees are, and how long its waiting periods tend to be.

1. XRP

XRP has become known as a ‘remittance coin’ due to its goal of providing better, faster, and cheaper international transactions. It was created by a company called Ripple Labs, and so far, it has been one of the best ways for sending money cross-border. It works in combination with Ripple’s products such as xRapid, fueling it and allowing for near-instant transactions at low fees.

The company has decided to offer its products to banks around the world, and most of the financial institutions decided to accept the offer. This is their way of trying to…

Continue Reading

Altcoins

Why HODLing XRP, BAT, and EOS is a Smart Idea

Published

on

HODLing
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto market continues to grow, even though the prices of its many coins were severely damaged during the so-called ‘crypto winter’ of 2018. Even so, the market has grown a lot, and it currently features over 2,100 digital currencies, all parts of their own projects, with a goal of making an impact and entering the mainstream.

Of course, it goes without saying that not a lot of these coins have real potential. Many of them came to be during the ICO craze of 2017 and early 2018 when investors were willing to buy just about any coin. As a result, new startups emerged, each offering its own cryptocurrency. Most of these coins are believed to be bad projects with no future, with only a matter of time before they are declared ‘dead.’

However, there are several coins out there which are worthy of investing in, as well as HODLing on to them. Three such coins that we will focus on today are XRP, Basic Attention Token (BAT), and EOS.

XRP

Let’s start with XRP. This is a coin created by a company called Ripple Labs. As a result, the coin has a strong connection to the company, which many have taken as proof that it is not a real cryptocurrency, that it is centralized, and that it will eventually fade away as a bad project.…

Continue Reading

Altcoins

Why XRP is Worth Much Less than What Fans Expect

Published

on

XRP
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto world is currently facing an uncertain situation as a result of XRP value. Many fans of the digital currency are arguing that the worth should be higher than what it now. A poll taken by Twitter this year showed that 80% of the participants want XRP to be higher than Ethereum. The participant preferred the digital currency to occupy the second largest position against what experts thought. Since XRP has not offered much to improve its reputation, the participant’s reaction was surprising indeed.

From what we have seen so far, one question to ask is, why does the cryptocurrency have many supporters? The simple answer is that Ripple focuses on offering remittance services to its fans more than other digital currency. The company offers many products of which one known as xRapid a cross-border payment service impress many supporters.

Why Fans expect an increase in value

Weiss Ratings did not hide the fact that their agency is not supporting Ripple. However, they admitted that the global payment platforms which the cryptocurrency created are commendable. This commendation proves that Ripple has been impactful in that area of blockchain tech application. Also, the players in the community have seen these achievements as well. Therefore, it is not a surprise that they expect an improvement in the market cap and price of XRP

Many people have raised arguments…

Continue Reading

Elite