Electroneum Releases $80 Android Phone For Mining Crypto
Digital payments ecosystem and potential equalizer for the 1.7 billion people without access to a bank account, Electroneum, recently announced the rollout of a USD $80 Android smartphone which rewards users in cryptocurrency (specifically, Electroneum’s native token ‘ETN’). Electroneum’s new M1, Google Mobile Services (GMS)-certified smartphone comes with pre-integrated cloud mining technology and boasts a potential monthly return of roughly USD $3 – with mining also available while the phone is offline.
That’s right, it’s a smart phone that pays you back!
Furthermore, the Electroneum M1 smartphone comes with 4G connectivity, 8GB storage, dual sims, front and rear facing cameras, and more. It also comes with a battery, USB cable, charger an instruction booklet.
So, what can Electroneum phone users do with the ETC tokens they’ve mined and earned?
ETN earners will have a variety of options with their newly earned tokens, including paying for mobile top-ups, purchasing goods and services online, and trading it on exchanges. At time of writing, the ETN token is worth USD $0.007 or 183 Satoshis, with Electroneum’s overall market capitalization at $63 million.
Easing Crypto Adoption For Newcomers
Electroneum’s M1 smartphone is a step in the right direction for easing cryptocurrency adoption for newcomers, as it’s multi-functional and doesn’t stand to break the bank (coming in at just USD $80). It’s also designed for persons in developing regions, keeping with Electroneum’s ethos of providing economic freedom and digital payments to the world’s unbanked.
And, in some developing countries, Electroneum has hinted at even dropping the price to around $60. In an interview with CoinDesk, head of operations for Electroneum Nick Cook noted, “To start with we will be selling the M1 in South Africa, as this is our first launch market…The M1 will be sold through local vendors.” It’s also set to hit South Africa’s Amazon catalogue in the following weeks.
Electroneum’s founder and CEO, Richard Ells, further shared, “South Africa was an obvious choice for us. We carried out a large survey in the country and found that 97 percent of those who responded said that they would like to use ETN to pay for mobile airtime and data.”
For those unfamiliar, Electroneum and the ETN token bills itself as the world’s fastest and first AML/KYC compliant cryptocurrency (and a store of value), which may be used to purchase fundamental necessities.
You can read up further about Electroneum and how they are bringing the power of blockchain technology and a global digital economy to the developing world by heading on over to their website and reading up on their roadmap. You can also find further details about the M1 Android smartphone here.
Finally, don’t forget to keep up with our blockchain and cryptocurrency blog for the latest crypto updates, news, and informative articles. And make sure to follow us on Medium and Twitter. Do let us know any topics you’d like to see us tackle in the future. We’d love to hear from you!
-Obiter Cryptum