Don’t have any money to buy Electroneum or a computer to mine with? There are several other ways to get your hands on some Electroneum coins.
Here’s a list of all the methods I could think of:
1. Mine on Your Mobile Phone
This is the most obvious one. Electroneum’s flagship feature is their revolutionary mobile miner. It enables anyone to mine Electroneum with their smartphone, by installing the app, creating an account, and pressing Start Mining.
The app will credit your wallet with ETN coins based on the available CPU power of your phone. Phones typically have a hash rate of between 30 H/s and 50 H/s. The faster your phone is, the higher your hash rate will be, and the more coins you’ll be able to mine per day.
The mobile miner currently works only on Android. The iPhone version is still in review by Apple.
2. Refer Friends to Earn Bonus ETN
To encourage mass adoption, the Electroneum team has created a referral program that lets users earn bonus ETN by referring friends and family.
When referring someone, get them to scan the referral code on your ETN app. You will then receive 5% bonus ETN based on what they mine, while they will receive an additional 1% as well.
As far as we know, referrals are for life, meaning that once you’ve added a referral, you will continue to receive bonuses ETN for as long as they continue mining. So you can view this as a constant stream of passive income, as long as your referrals keep mining.
3. Buy Electroneum at an Exchange
Have some spare change sitting in your bank account? You can use it to buy ETN at an exchange.
4. Mine with Your Computer
Computer miners are required to keep the blockchain flowing and make sure transactions are passed legitimately. If you have a spare computer lying around, you can put it to use mining ETN.
5. Sell Something for ETN
The whole point of the ETN project is to become a transactional cryptocurrency – one that is used by many people around the world for simple, every-day purchases. This is one of the reasons they are developing their instant payment notification system.
You can help kickstart this tradition by selling something you own for ETN! If the prospective buyer doesn’t know about ETN, tell them about it and show them how easy it is to mine. Then ask them to pay you with the ETN they mine.
And while you’re at it, you might just as well have them scan your referral code!
6. Join One of the Many ETN Giveaways
Note: Be wary of scammers here. Don’t ever give out your login info or private keys to anyone!
Many users on Reddit and Facebook are creating ETN giveaway campaigns, where they ask you to perform a certain task after which they will pick a winner and reward him/her with a certain amount of ETN.
These tasks range from simple things like writing the best cryptocurrency joke, to subscribing to someone’s newsletter. There’s even a lottery being run once a week by the moderators of the Electroneum subreddit.
Although this does not guarantee you’ll receive any ETN, it’s worth a try. Scan Electroneum’s Reddit page for these giveaways and participate in them if the task is doable for you.
7. Mine Using a GPU
Conventional mining can be done at a much higher hash rate when using a GPU (Graphical Processing Unit) than when using a normal CPU (Central Processing Unit).
If your computer has a GPU, or you can get your hands on a good secondhand GPU, you can put it to good use mining ETN.
Here’s a guide on how to do it.
8. Own Profit-Sharing Coins
Profit-sharing coins can help you earn ETN. This is not a well-known method, and neither will it earn you a lot of ETN. But it’s still worth mentioning.
Profit-sharing coins are typically created by exchanges and allow you to receive a portion of the fees paid by traders on that exchange. Currently, the only exchange that lists ETN and enables profit-sharing is KuCoin.
KuCoin has created their own cryptocurrency called KuCoin Shares (KCS), and holders of the coin will be credited daily with a 50% share of the fees paid by traders on KuCoin.
Profits are paid in the cryptocurrency that was traded. Since there are many currencies being traded on KuCoin, you’ll receive a small amount of each of those coins every day, and ETN will also be among them. You can see how much ETN you’ll earn using this profit calculator.
It’s worth looking into, at least!
9. Accept ETN At Your Business
If you own a business, you might look into accepting ETN for your products or services.
Right now, the process is quite cumbersome, since the customer will have to wait a while for the payment to reflect in your wallet. Not impossible, but difficult…
But this should all change when the team releases the instant payment notification system sometime in quarter 3 of 2018.
With the system in place, Electroneum will check if the customer has the required funds in their wallet, ring-fence it for the particular purchase, and then provide instant feedback. Although the funds might not reach your wallet for another couple of hours, you can be sure that the team has control of the funds and will send it to you.
But while we’re waiting for this system to launch, you can start educating your customers about Electroneum. Introduce them to the mobile miner so they will have some ETN to pay you with in future.
So this was a list of all the ways you can get your hands on some Electroneum coins.
Your turn. Do you know of any other methods?
Please comment below so we can learn together.