Electroneum ICO – Frequently Asked Questions (FAQs)
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What is the purpose of the Electroneum Token/Coin?
Electroneum LTD, created Electroneum (ETN) which targets the masses … the people who know nothing about Cryptocurrency. They now have the opportunity to become familiar with cryptocurrency without having to be techies. They don’t have to be concerned with wallets, private keys, hashes, mining etc. They don’t have to change their habits.
One of the missing ingredients in the cryptocurrency space is MASS ADOPTION. The Electroneum team has come up with a business model that has a high potential of being successful in this regards.
While they are mining on their mining/wallet mobile app in the in the background, they earn cryptocurrency/coins which are deposited into their wallet which is integrated into the mining app. They can also play games from within the app and earn additional coins.
The Electroneum team envisions a future where both the gaming and gambling/wagering markets will be targeted. Electroneum coins will be used as the currency where one can “sell” the hours they’ve spent on being a character in World of Warcraft, for example. In addition, the the entry and exit fees that one pays to get in and out are allocated back to the company. This is a win-win for both parties.
Another advantage of the Electroneum token (ETN) is that now they will be able to tap into people who are ‘unbankable’ … people without bank accounts. This consumer market is tens of millions large and they already have smartphones and internet access. Imagine the use of this cryptocurrency for storage of value or payments.
Industry pundits and Cryptocurrency enthusiasts want to see mass adoption of cryptocurrencies. With this said, it is likely that many companies will want to create joint venture relationships and product whitelabelling to get involved with Electroneum Ltd, the company.
At times we believe that Bitcoin is widespread but that is only our perception since we are so deep in it. We are a small percentage of the population. Only 4% of the world’s population of 7.6billion people even possess a cryptocurrency wallet. Electroneum has the potential to bridge that gap and the leap into MASS ADOPTION will then become REAL.
Where Can I view the White Paper?
How many coins are there in total?
How many coins are there in the ICO?
Isn’t that too many coins?
The supply of coins is not an issue; the amount of coins has been chosen to reflect a real life currency; so instead of paying 0.000135 Bitcoin for a can of coke, you can pay 15.10 Electroneum (this is NOT the real exchange rate!) for the same can. This is a clear advantage, the study group suggested. Especially when you think about the fact that Bitcoin has 16 decimal digits and Electroneum has 13 decimal digits. So you’re effectively just moving the decimal-point around.
When comparing the coin with Bitcoin, we need to remember that this coin is developed to be fungible (used to settle a debt, or for commerce etc since one unit of the coin will be substantially equivalent to another comparable unit.). Electroneum (ETN) is meant to be used to purchase items, right? So, if I wanted to buy something, I’d rather it cost 200 coins rather than .002 of a coin. It has been shown that psychologically the average consumer much prefer to pay with full amounts rather than fractions such as the Bitcoin satoshis.
With my students, one of the most difficult concept for them to grasp is Bitcoin’s satoshis or Litecoin’s litoshis and converting them to something that is practical and relevant.
How many coins are allocated to the coin developers?
$200,000 dollars worth of Electroneum, which is approximately 20 million coins.
Can the developers dump them when the coin gets listed?
No. They cannot sell them within the first 12 months of the launch of the coin. (Note: Let us PARTICIPATE in the success of Electroneum and NOT do a BIG DUMP when they Launch on the Exchange(s) )
What is the price of the coin today?
$0.01 per coin excluding ICO bonuses.
When will the ICO end?
31October2017 at 23.59 UTC
How Can I Participate in the ICO?
What will happen to the coins that is not sold during the ICO?
Normally they would get destroyed or burned. Right now, it is not 100% certain that all the coins would be destroyed for ever, so it was decided to allocate these coins to the mobile mining pool to increase the likelihood of people finding the mobile mining experience fun and worth engaging.
Is there a bonus system for early investors?
Yes there is. See below while keeping in mind that we are 3 days away from the 10% BONUS Expiration Date. So BUY NOW!
When will the Blockchain be Available?
When will the Offline Paper Wallet Be Available?
Because of improvements they are making, you will need to create wallets using the new Offline Wallet Generator on its release.
ETN can be withdrawn on that same date, which is when our blockchain goes live.
What exchanges will the coin be listed on 01November2017?
Sign up for Cryptopia and Cex for sure RIGHT NOW!
Where do I get the Electroneum (The Mobile Cryptocurrency Wallet and Miner) App?
Go to Google Play Store and download the Electroneum App NOW. Make sure it says there have been at least 50 thousand downloads just in case some one create a bogus scam fake app. Right now it is only for the Android phone.
Here is this article with my commentary in video format.
I, for one, am excited about Electroneum’s ICO because they are one of the few ICOs’ where a REAL product exist, a REAL team exists, and where it is backed by REAL people with a REAL mass adoption approach.