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CoinBene Starts Trading Electroneum

Global exchange launches fast-growing cryptocurrency’s inaugural trades in five new continental markets

LONDON, U.K.–August 10, 2018–One of the world’s fastest-growing altcoins, Electroneum (ETN), which has more than two million users who mine and transfer the cryptocurrency through their mobile phones, is trading in five new markets for the first time after it was listed on a top cryptocurrency exchange.

The British mobile-based cryptocurrency will now trade in India, Brazil, Hong Kong, Singapore and Malaysia after its listing on CoinBene, one of the world’s fastest-growing cryptocurrency exchanges. Within nine months of its launch in November 2017, CoinBene’s daily trading volume was more than $300 million.

Electroneum will be paired with Bitcoin (BTC) under CoinBene’s trading rules, which see cryptocurrencies paired with either Bitcoin (BTC), Ethereum (ETH) or USTD, and is the first British cryptocurrency to join the exchange.

“The search for tokens and cryptocurrencies with potential for mass adoption is part of our strategy to stimulate market growth,” says CoinBene Brazil CEO and Global Vice President, Feng Bo. “Electroneum has a strong and vocal community which helps market development and maintains our position in the rankings of exchanges with the most varied and profitable portfolios.”

 

Electroneum CEO Richard Ells comments, “Joining CoinBene is a milestone for the ETN team and marks our evolution as a global cryptocurrency. CoinBene has rapidly become a top ten exchange with a global presence that includes five key territories in emerging markets, which will be crucial as we become a true enablement currency that helps people across the world to improve their lives on their terms. We’re excited to be working with them – they’re a great team and we’re confident we’ll do great things together.”

With a global userbase of more than two million, and the ability to enable people to mine and transfer the currency through their smartphones, Electroneum is strongly positioned for mass adoption. Electroneum launched in November 2017, breaking the one million user mark within four months and achieving more than two million users by August 2018.

Richard Ells continues, “Electroneum was designed for mass adoption – to be used by anyone anywhere in the world. As well as our mining and transfer capabilities, we’ve developed a payment system that enables people to buy and sell goods and services instantly – much like contactless payment. Other cryptocurrencies can take between 20 minutes to a couple of hours to transfer from buyer to seller, so our approach will set us well apart from the pack.”

The Electroneum team also designed ETN, its digital currency, to enable payments to be paid to two decimal places like Great British Pounds (GBP), Euros or U.S. Dollars (USD).

Ells comments, “Just having two decimal places – and the capacity to sustain this because we have 21 billion worth of ETN available – makes us more attractive to people as an alternative payment method. It shows a similarity with dollars and cents or pennies and pounds, allowing ETN to be a real digital alternative to traditional or fiat currency instead of something that seems complex and inaccessible.”

For more information about Electroneum, visit: https://electroneum.com/

For more information about CoinBene, visit: https://www.coinbene.com/

 

About CoinBene

CoinBene is one of the largest cryptocurrency exchanges in the world with an average of $4 billion USD buying and selling digital assets each month, according to CoinMarketCap, a portal that analyzes the fluctuation of digital currencies. Founded in November 2017, the startup already has 1.5 million active users in more than 150 countries. CoinBene differentiates itself from other cryptocurrency exchanges by basing its platform’s on the needs of customers and working with stakeholders from the market.

About Electroneum

Electroneum (ETN) is a British cryptocurrency that aims to enable financial inclusion for millions of unbanked people across the world. ETN rewards users for their engagement and advocacy. This in turn acts as a catalyst to build a strong community on mobile and on the ground. ETN’s partnerships with mobile operators, vendors and freelancer services enables multiple opportunities to earn more of the currency and spend it, creating a sustainable ecosystem in territories across the globe. ETN raised $40m from its Initial Coin Offering (ICO) in November 2017 and currently has more than two million registered users who mine and transfer the currency from their mobile devices. For more information, visit: www.electroneum.com

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What does it take for Bitcoin to achieve mass-adoption?

CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

What does it take for Bitcoin to achieve Mass-Adoption?

The biggest obstacle for Bitcoin right now is, that so few people use Bitcoin. But why do so few people actually use Bitcoin from a day-to-day basis? Well, the answer is, because so few people use Bitcoin. That might sound a bit confusing right away, but I will explain myself.

Bitcoin has the obstacle to overcome, same as Facebook. Facebook became so valuable, because literally every friend of yours, and their parents where using it. If no one used Facebook, then I really doubt it would be nearly as valuable to humanity as it is today.

The same exact thing also applies to Bitcoin. What makes money valuable, is the fact that you can pay anybody for anything with it. Good luck paying your local supermarket in Bitcoins. It just doesn’t make sense to do so.

This is also called the network effect. It sates, that a system is only so valuable, as the number of people using that system.

So, let’s dive into the 3 deciding factors, that must happen for Bitcoin to fully achieve mass adoption.

First, of course, is the support by a big corporation or even country. For example, if a big company like McDonalds starts to accept Bitcoin, then people would be more inclined to make purchases with Bitcoin. This makes total sense, because why would anybody adopt the usage of Bitcoin, if you couldn’t make any real-world purchases with it? Exactly, it doesn’t make any sense whatsoever.

The first point was pretty obvious, so let’s look at the other deciding factors, that are crucial for Bitcoin to be mass-adopted.

Did you actually know, that a third of the world’s population, 2,5 million adults to be precise, do not have access to the banking system? Yeah, what people in the first-world countries take completely for granted, isn’t all that common all around the world: A bank account. On the other side, many more people in these third-world countries do have mobile phones, but no bank accounts. So, what if all those people start using Cryptocurrencies, like Bitcoin, for their online and day-to-day transactions? They could skip the traditional banking system and directly buy and sell Bitcoin from their smartphones. If one third (or even less) of the world population starts to use Bitcoin, it will gain world-wide recognition and overtake any other currency.

The third scenario that could happen, is that a major economic collapse or abuse occurs. When this happens, lots of people will want to transfer their wealth to something that isn’t dependent on any country or government, but is universally accepted in every country of the world. There aren’t many options for such things. One of these things is, gold. And the other could be Bitcoin, which I see as the digital version of Gold.

I hope we will never have to experience such a catastrophic event in our lifetime, but it sure is a positive thing for Bitcoin, since lots of people will adopt it.

These are all the point I could think of. Thanks a lot for reading and have an awesome day! Visit me at flashipcrypto.com for more Crypto-article?