Brief overview of Electroneum
For those who are not familiar with Electroneum, it is a mobile based cryptocurrency that aims to reach mass adoption.So what is different about Electroneum?
Speaking about tech, it is a Monero fork and it doesn't bring much more to the table.But what separates Electroneum from others is their strategy for reaching the market.Everybody who uses the Electroneum app will be given some Electroneum for having the app (by simulated mobile mining), and they could use it to offset phone costs(as they've already signed agreements with severeal companies), so they are paying people to have digital payment solution.So, many people will have Electroneum and would like to spend it on real things which encourages entrepreneurs to start accepting it for payments, and Richard(Electroneum CEO) and his team are hoping that people with start swaping it for real things so it becomes first cryptocurrency that is being used for trade rather than just speculation.I recommend watching a 3-minute video on their website where Richard Ells explains this at following link
https://electroneum.com/2018/02/23/what-is-mobile-mining/.
Now, this is a brief overview and i will later post a much deeper review of Electroneum, where I will discuss how long could mobile mining last, how will it affect the price, some technical issues and much more.
So why is it a good time to buy electroneum?
As you may know, they've been invited to exhibit at the GSMA mobile world congress 2018 where Richard will be speaking and taking part in a panel discussion on 27th February about ‘Mobile Identity’. The GSMA represents the interests of mobile operators worldwide, uniting nearly 800 operators with more than 300 companies in the broader mobile ecosystem, so this is huge as Electroneum will be able to get their name out there and present themselves to all this different mobile companies so they could potentially present Electroneum to their end users.
So, based on how the price of Electroneum was affected by previous news, e.g. when they announced that they assigned MOU with XIUS(which has an active subscriber base of over 65 million people) went from ~8 cents to ~22 cents(from ~560 to ~1150 satoshis, which is more important for now because evertyhing is trading in pair with BTC...), I think that it is very reasonable to think that we may see some price movements in following days.To finish with this post, I would say that I think(not a financial advice) that whether you want short term gains or long term gains(as I think that the price could go much higher than we might see in following spikes, if they happen, as there are many more good things to come, like 'Paypal style' vendor software, and as it is in accordance with their strategy of gradual price increase and preventing 'pumps and dumps', which I will also discuss in my review of Electroneum) this is a good buying opportunity, as also there is a small risk of price wenting lower than it is now (~750 satoshis=~72 cents).