So, a month ago, a friend of mine told me of how he was mining Electroneum coin using his phone. I asked him how many coins he was mining per day and he told me 2. I did a quick math and found that that was worth $0.046, going by the value of Electroneum at that time. To me, this didn’t make any financial sense. I mean, you gotta have this app running at the background on your phone for hours, only to end up making $0.046? Really? This seemed ridiculous and I made fun of him, even telling him to stop that nonsense and find something better to do.
But the guy is the adamant type, so he brushed off my comments and continued running the app on his phone. Shock on me! By yesterday, the guy had mined 60 coins, and the hash rate had been unbelievably increased. So now he is mining 30 coins per day. Going by the current price of ETN which is $0.024 at the moment, thai translates to around $0.72 per day, which could be ever way higher if you have a phone with a bigger RAM.
Now this got me thinking. Three or four months ago, the price of ETN reached highs of $0.17. Given that it will reach similar highs before the year ends, if the guy continues mining 30 coins per day, he will be making an average of $5.1 daily (at the rate of $0.17 per ETN), or simply $153 per month, which is quite something, given that the ETN app is running on the background and won’t take any of your time at all. So its basically passive income, free money without any investment.
So I decided to give it a try. I downloaded and installed the android, signed up for an account and hit the “start mining’ button. Thats how simple it is. The app has been running on my phone for the last 8 hours and so far, I have mined 8.33 ETN, as shown in the attached picture.
This is exciting. Its an average of around 1 ETN per hour. I’m eager to see how much I will have mined after 24 hours. What do you guys think? Is it worth a try?