Electroneum is a new British cryptocurrency, and since its record breaking ICO (initial coin offering) launch, at the time of this post has risen in value over 1200%. It's otherwise known as ETN.
You can see today's graph below showing the steep increase in the price, so for those that got in touch on Wednesday and followed my advice to buy this coin, you're now showing an impressive return on investment.
The reason for the huge price increase today is due to a deal being signed with a leading telecom company, which will integrate the mining app and also accept the coin as payment. This is a massive step forward not only for Electroneum, but for cryptocurrency in general.
I've had a lot of emails about cryptocurrency and spent most of today replying, so let me detail below exactly how you can buy this coin and benefit from from what I feel is inevitable growth.
My prediction, and this is only my opinion, but during 2018 it's possible for Electroneum to end up between a £1.00, and £10.00 a coin. It's presently at 12p, and I bought it for less than a penny a few months ago.
Let me cut through the confusion about how to purchase this coin and help you get started before you miss the boat.
Firstly, since the ICO sale ended, you now need to buy some cryptocurrency from another exchange such as Coinbase, which is the one I recommend.
If you use the hyperlink to Coinbase (shameless plug), then we both actually get some free Bitcoin, so it's win win for both of us!
Let's begin:
Step One: Sign up for Coinbase and pass their registration checks. They are busy at the moment so expect possible delays with this, but persevere is my advice. It's the most downloaded APP on the app and play store, and Electroneum is one of the most searched for words on Google right now, so if this is all new news to you, you're about to find out this is actually huge!
Step Two: Add you bank details, fund your account.
Step Three: I suggest you buy some Bitcoin, Litecoin, and Ethereum at Coinbase. Point to note here, you don't need to buy a whole coin, as they are all very expensive. You can purchase a percentage of any coins on offer there, and once registered with money available to use with your card, it's really straightforward.
Step Four: Sign up for Cryptopia which is presently the only place you can buy Electroneum. Now Cryptopia isn't the easiest site to use, and not the very best exchange out there, but it's not too bad, and once Electroneum gets added to other exchanges the price will boom, so it's worth persevering with Cryptopia to buy this coin while it's still at a very appealing and low price.
Step Five: Transfer some cryptocurrency from your Coinbase account from Cryptopia. At the time of this post, Litecoin is temporarily paused from buying Electroneum, but it's only temporary and will be resume soon. The reason I'd guess is people are flooding to buy this coin, and Litecoin's charges to transfer from Coinbase are tiny in comparison to Bitcoin.
Here is a short video showing you how to transfer coins you need to buy Electroneum:
Thanks to a very positive community of people all supporting various cryptocurrencies, these You Tube videos really help with the whole getting started process. If you don't know, then somebody most probably does and will have posted a video.
Step Six: Buy Electroneum using the transferred currency from Coinbase.
Here is a video showing you how to do this:
You should now own some Electroneum, and I'd advise keeping hold of it.
You can register at: https://my.electroneum.com/ create an account here, and you will be able to transfer your coins to a wallet there if you wish, create a paper wallet, and have credentials to use the app, which you can download at the moment on Android, but soon to be released to Apple. Which when this happens the price will hike up again.
There is set to be a mobile mining experience, which will make this coin go viral. It's targeted towards the gaming and gambling industry, which is how I came across it given the nature of my business, and I'm so glad I did.
Now, I know you're wondering how the heck do you withdraw this to actual money if you decide to trade out when the price reaches a point you want to turn it to regular money.
Here is another video covering how to withdraw it, but of course you would need to sell the coins you want using the exchange, to cash out for another crypto, such as Litecoin, Bitcoin etc.
You then follow the process in this video, and transfer them to your wallet on Coinbase where your bank details are stored, and you can withdraw for cash there.
This is not the only way of doing this, but transferring Cryptocurrency to Cryptopia is the only way to buy this amazing coin right now.
Imagine if you could have bought Bitcoin when it was close to a penny a coin, given I'm looking at the value now at £12.390, I'd guess you would have bought a lot. Imagine if you could have got in to investing in the internet when it began, or mobile tech before everyone had a smart phone, the list goes on, well this is how I see cryptocurrency investing, which is why I feel it's something very important to share with my website members and followers.
Personally I'm a long term investor and not a day trader, I'm looking at these coins over a period of months and years playing the long game. As mentioned I bough Electroneum when it was under a penny, and I've seen it boom very quickly, but Bitcoin I bought over a year ago when it was £350 a coin took longer, but as stated it's over £12k a coin at time of publishing this blog. The advice I give in these posts is geared towards longer term investing.
I hope this information helps, and I can make your journey investing in these coins a lot easier. Here's a quick round up of coins I presently own, and what I suggest you take a look at:
Bitcoin - The gold of crypto's, and over time is strongly predicted to reach between £500k and a million a coin.
Litcoin - The silver standard of alt coins, and since being added to Coinbase has risen significantly in 2017. I think 2018 will be a big year for all coins, this one I see doing very well.
Ripple - It's doing well at the moment on the rise, and another with a lot of long term potential. This is also rumoured to be added to Coinbase soon, so the value will shoot up on this coin if it does. It's such a low priced coin still, it pays to have some in the portfolio just in case.
Bitcoin cash - Always worth having some of this in the portfolio given its relation to bitcoin. Also, since being added to Coinbase it will sky rocket in 2018. You can purchase on Coinbase early January.
Ethereum - Lots of grants for this coin, a new block chain being created, also it's on Coinbase, and will steadily jump over the next few years.
There are other coins I have interest in, and ICO sales all the time. I have a few ICO's I'm conducting due diligence on at the moment in fact.
I'll post more info in the blog as I come to conclusions, and should I recognize a good opportunity to invest in whether an ICO or a coin I think is good value with potential, I'll keep you in the loop, but please write to me anytime if you've any questions, my email is ryan@exponentialbet.co.uk
It goes without saying that the information here is strictly my opinion and my own experience of buying and trading these currencies. This does not constitute as financial advice, as investing in anything carries risks.
Thanks for reading, I hope this was helpful and sparked your interest in Cryptocurrency investing.
Ryan