Mining is pretty much similar to trading. When you mine, you hope to get the most out of rates. Imagine once you have mined a coin to see the price crash after using your expensive mining rigs. What will be your reaction?
We are here to guide you about the mineable tokens that have some serious potential. However, you don’t need to take this as financial advice for investing your money in the coins.
Anyhow, let’s get to the central part of the article on mining the Electroneum for what you’ve come here. So, with no time to waste, let’s dive into the significant part of this article.
What is Electroneum?
Electroneum is a smartphone-based Blockchain technology that was created for the sake of an instant payment system. Also, this project is not so old, but four years ago, this project was initiated in July 2017 and launched in September 2017. However, within these four years, it has gained so much popularity. In fact, in its inaugural coin offering phase, it somehow raised almost $40 million.
Interestingly, it is the first cryptocurrency based in the United Kingdom. Isn’t this shocking news?? If yes, let us know in the comments.
The primary goal of Electroneum’s team is to develop the most secure and fastest crypto transaction, that too with a low fee. Also, the team’s targeted market is the world’s unbanked population. The reason is simple because, as per the reports and surveys of the World Bank Index, about 1.7 billion adults remain unbanked until now.
What Is the Electroneum Price Prediction?
Before doing a technical analysis of ETN, there’re several factors one should keep in mind. These factors keep in the sense of traders and miners before mining ETN because everyone wants to grab a massive profit and get rid of loss.
According to Coinquora’s technical analysts, the price forecast for bullish ETN for the year 2021 will be $0.11. Despite this, the price can also go further high due to multiple elements, including investors’ buy and sell ratio in 2021 and the performances of top cryptocurrencies such as Bitcoin and Ethereum.
How to Mine Electroneum ETN?
Here comes the integral part of this blog post. So, let’s begin this portion.
In our opinion, the only standout thing of ETN to other digital currencies is its mining. It’s a straightforward task for a beginner to start mining this easy-to-use Blockchain.
As we all know, mining is a complex task for someone, and no one can’t do it. Therefore, the team of Electroneum wanted to sort out this issue. The team at ETN developed such a system of mining that anyone can do with ease. Moreover, they wanted to create such a decentralized infrastructure that could resist network takeovers with ease.
With that said, they created their Blockchain of Electroneum, from which anyone can mine and run the nodes.
How to Mine Electroneum With a Mobile?
The developers at ETN developed such an easy-to-use cryptocurrency that can be mined with the help of your smartphones. It is straightforward to mine; follow the below steps.
Install the App
Install the application of Electroneum in your smartphones from any of the Play Stores or browsers. Then register an account on the Electroneum website.
Register an Account on the App
Since you’ve finished the registration process, sign up for the app by using your access codes.
Tap on “Start Mining”
After signing up/logging in, select the “Miner tab” at the bottom and finally tap on the “Start Mining” button.
Once you’ve completed the steps mentioned above, your smartphone will start mining coins, that too with low hash rates. However, you will be able to earn a few cents per day, but keeping in mind the bright future of ETN, it can be your choice.
How to Mine Electroneum with a Computer – (CPU or GPU Mining)?
Now, you’ve learned the process of mining through mobile, now comes the primary and more complicated mining procedures with the help of a computer. Since it is a complex task for a mobile phone, the rewards will be more significant.
First, all you need are three things on your computer before starting mining Electroneum. These three things are below.
- a computer (running 64-bit of Windows, macOS, or Linux)
- an Electroneum wallet address
- a mining software
Step 1: Download and Install the Mining Software For Mining
For Windows users, you’ll need to download xmr-stak from Github and then install it on the computer. Most probably, the link that’s at the top of the front Google page is usually the latest release update. Therefore, go for it and install that one. Also, remember the file will be a zip file and named xmr-stak-win64.zip. Download and establish this link.
Step 2: Configure the Mining Software
There’re several further steps before configuring the mining software. These steps include
- Extracting the file
- Entering the pool address
- Entering your username or wallet address
- Configuring the rig identifiers
Follow the steps mentioned above and configure the mining software.
Step 3: Start Mining
Once you’ve completed all the steps written above, you can now finally start mining ETN.