Once the account is fully created and funded, the next step you'll need to make is to actually look up the token you are looking for. Here we are looking for Electroneum, or its ticker symbol ETN, so just type either one in the brokerage's search bar or exchange you are using. Then all you have to do is click on the "Buy" option and specify your amount. Confirm the transaction, and you should see your cryptocurrency balance updated.

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Invest in Electroneum in 2023

Q: Step 1: Create and Verify Your Account

The first step involves you creating an account at the cryptocurrency brokerage or exchange which you have selected. Your selection should be based on proper research, fee analysis, and token availability. Once you decide on the exchange, find the "Sign Up" option. Here, the chances are high that you will be prompted to enter information such as your name, age, email, and other similar information. You might also need to complete KYC and AML verification processes, but this is the case only on regulated exchanges.

Q: Step 2: Fund Your Account

Second, you will need to fund the account. Typically, you might not have a cryptocurrency wallet if this is your first time using a cryptocurrency exchange or brokerage. Many of them offer an on-exchange wallet; you'll just need to fund your account with FIAT currencies first. This is done through a variety of different payment methods, including credit cards, debit cards, e-wallets, and even direct bank transfers.

Staff Writer

July 20th, 2023

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Electroneum is a mobile-based cryptocurrency specifically created to offer an instant payment system for cryptocurrencies. This project was initially created in July of 2017 and was launched in September of 2017 after completing a $40 million Initial Coin Offering (ICO).

The main focus of the project is to provide the fastest and safest cryptocurrency transactions with minimal fees. That said, we are going to dive deeper into the world of Electroneum and discuss how you can invest in its native cryptocurrency token, ETN.

Best way to invest in Electroneum in 2023

There are many ways through which you can start investing in Electroneum (ETN) today. To make things a bit easier for you and to help you determine which option is suitable for you, below are some of the best options we’ve selected, so that you can have an easier time getting into ETN investing.

What is Electroneum

Electroneum (ETN) is a mobile-oriented cryptocurrency that was originally built over the Monero codebase and had its main priority or focus set on the gambling and gaming industry. It later became a platform for instant payments available across borders.

In 2019, it migrated to the moderated proof-of-responsibility (PoR) blockchain to focus on its payment delivery services.The goal became to reach out to those that, for whatever reason, did not have any access to a banking system but have a smartphone. This is similar to e-wallets such as PayPal, but specifically for cryptocurrencies.

At the time of writing, Electroneum had a market cap of $319,353,952, with a circulating supply of $319,353,952 billion ETN tokens.

The app is available on both iOS and Android Devices
It offers quick payments
There is easy setup and small payment fees

How does Electroneum Work

Electroneum takes advantage of the proof-of-responsibility (PoR) algorithm. This is what allows for transactions on a decentralized blockchain to be made possible. It has built-in privacy features and uses a stealth address, which is a one-time public key that can prevent recipient funds from getting linked with their wallet.

This address can also be audited by a third party to prove that the transaction occurred. Additionally, the transactions on Electroneum are quick and have dynamic fees, which are based on the level of traffic within the network.

Each transfer of the ETN token has a TX fee. The fee is based on many factors, such as the number of blockchain inputs, the speed, and the number of splits required to create the TX of the size requested. To cover this fee, an Automatic Handling Fee is deducted, specifically as senders, when users initiate a transfer. Users can then be refunded any unused amount of this fee once the TX fee has been calculated.

Ways to Buy Electroneum

When it comes to buying Electroneum (ETN), there are many ways to purchase. There are plenty of platforms out there that will allow you to buy the token and platforms that will have additional functionalities such as letting you invest in the token directly. You can use cryptocurrency exchanges, CFD brokers, P2P marketplaces, or in-person trading.

CFD Brokers: A cryptocurrency broker is an intermediary that sits between you and the cryptocurrency market. The broker's goal is to provide you with instant access to the cryptocurrency token you are looking for. However, the brokerage sets the price for the token in this case. This is typically the recommended option for beginners due to the fact that it offers easy ways for users to access the crypto market without much prior knowledge on how all of it works.
Cryptocurrency Exchanges: Cryptocurrency exchanges offer traders a wide range of flexibility, as they get access to hundreds if not thousands of cryptocurrency pairs easily and get access to charting tools. Here, the market sets the price of the cryptocurrency token.
P2P Marketplaces: P2P cryptocurrency marketplaces provide you with the opportunity to buy or sell directly with another user. This means that you can post that you are selling ETN and connect with someone who wants to purchase ETN directly from you.
In-person Trading: This is a process where you meet the person you are selling the cryptocurrencies to directly and sell ETN to them in person.

Here is everything you need to know about buying Electroneum (ETN):

Step 1: Create and Verify Your Account

Step 2: Fund Your Account

Step 3: Buy ETN

How to invest in Electroneum

There are multiple ways through which you can invest in the Electroneum (ETN) token. You can either outright purchase the token and hold onto it for a prolonged period of time for a potential profit when you sell it long-term.

If you do not want to purchase the Electroneum (ETN) tokens directly, you can engage in ETN trading, where you speculate if the price of the token will go up or down without actually owning it yourself. That said, the method you end up picking for the process of trading Electroneum (ETN) needs to provide you with entry orders, stop losses, profit-limit orders, and risk-management methods.

Below are your options:

Brokerages: Brokerages provide you with one of the simplest and easiest ways to enter the cryptocurrency market. All you have to do is make an account, fund it, and select your favorite deposit option. Find the token you are looking for, and buy it. That’s it, no complex graphs or charts if you are new to the industry to worry about.
Exchanges: Exchanges, on the other hand, are specifically made to connect you to the cryptocurrency market. Here you will find thousands of cryptocurrency pairs to choose from and have access to as many charts and analytical data as you need so you can make the most educated decision when it comes to your investment.
ETFs: You can invest in Electroneum (ETN) through a TF fund. This is a fund that gives you access to a diversified portfolio of cryptocurrency tokens.
Index Funds: Through index funds, you can buy a share of the ETN cryptocurrency. This is an alternative to just buying the token at once.
Mutual funds: You can also invest in Electroneum (ETN) through a mutual fund if you do not want to own the token directly.
Trusts: You also have trusts that hold ETN tokens for you and where you can trade your shares through a brokerage or a cryptocurrency exchange.
Apps: There are specific cryptocurrency applications developed to allow you to trade on the go. In other words, you can simply download and install an application and begin your trading process immediately.

Is it safe to invest in Electroneum right now?

You should know right away that there is an ever-present risk in investing in cryptocurrencies as they are volatile. There are no guarantees that a token might go up or down in value, and this is all up to speculation. Use a cryptocurrency brokerage that is fully regulated and has KYC and AML procedures in place.