There are several options available to buy Electroneum. In this article, I’ll discuss the options.
Buy From an Exchange
The safest way to buy Electroneum is through an exchange. Exchanges bring together buyers and sellers of ETN and act as an intermediary between the two. They charge a small fee for their service (typically 0.1-0.2% of the total purchase amount).
Exchanges that currently list Electroneum are:
|1||KuCoin||0.10%||How to buy||Recommended.|
|2||Qryptos||0.15%||How to buy||Recommended. Requires ID verification.|
|3||Cryptopia||0.20%||How to buy||Recommended.|
|4||Bitbns||0.25%||–||Accepts Indian Rupee.|
|5||CoinSpot||0.90%||–||Accepts Australian AUD.|
|10||Cryptonit||0.25%||–||New exchange. Paypal & Credit card.|
Keep in mind that most of these exchanges are cryptocurrency exchanges, meaning that you will need some other cryptocurrency like Bitcoin or Ethereum to buy Electroneum – they don’t accept fiat currencies such as USD or GBP. However, you should be able to buy Bitcoin easily at any of the large exchanges that accept fiat currency, such as Coinbase, Bittrex, or LocalBitcoins.
Following is a list of exchanges that have shown interest in listing ETN, or to which the team plans to apply for listing:
- HitBTC (confirmed)
- Next.Exchange (listed, but currently in beta testing phase)
There are currently no exact dates for when Electroneum will be listed on these exchanges.
Buy From an ETN Holder in Person
The second method is to meet an Electroneum holder in person and buy directly from them with cash.
Using the app wallet, users are able to send ETN payments to other users of the app. Therefore, it is possible to buy ETN privately from a willing seller and have them transfer the ETN to your mobile wallet.
But be careful with this option. Scammers abound in the cryptocurrency industry! Don’t do anything you would not have done if you were buying a valuable item – such as a diamond ring or car.
I recommend asking on Twitter or Facebook for someone in your area. Meet that person in a communal location such as a mall or coffee shop. Pay them cash (or do a bank transfer while talking to them) and make sure you watch them transfer the ETN to your wallet.
In The Future?
Both these methods seem cumbersome and also quite risky. And they rightfully are! Scammers will seize any opportunity to capitalize on unsuspecting buyers.
However, Electroneum is set to become one of the largest cryptocurrencies in the world by allowing anyone to mine coins with their smartphone. It has all the ingredients to go viral and achieve mass adoption.
Therefore, it will only be a matter of time until safer, more trusted methods see the light. If you feel the need to play it safe, wait until a safer method appears, and in the meanwhile make sure you are set up to mine coins every day!