Electroneum has introduced ETN Reward to replace its cloud mining strategy, the cryptocurrency project has recently revealed. The UK-based cryptocurrency project gives its millions of users the power of earning ETN just by having the Electroneum application.
Electroneum offers alternative paths to financial inclusion by making it easy for people to buy goods on the internet, make mobile top-ups across the world, and do things that were practically impossible or relatively hard with cryptocurrencies.
Electroneum offers these services to its about 3.5 million registered users across the globe, especially those resident in developing countries.
With Electroneum’s decision to replace cloud mining with ETN Reward, the cryptocurrency project is sure nothing has changed in the ecosystem, just that it decided to remove the technical terminology and make cryptocurrency dealings easier to understand.
The project’s determination to move away from cloud mining and the introduction of ETN Rewards attests to its readiness to make cryptocurrency simpler before everybody.
“Nothing has changed as Electroneum continues to give up to US$3 worth of ETN to every user, every month,” Electroneum said in a release.
“However, the shift away from the concept of cloud mining makes it easier for users to understand exactly how the rewards system works.”
Hundreds of thousands of Electroneum app users receive ETN Reward just by mere interaction with the app.
ETN token received through this means can be stored or spent on different service providers, merchants and some others who accept cryptocurrency.
As to the reasons why Electroneum decided to introduce this idea, the project says “for many in the developing world, where monthly income is often less than US$50 per month, an additional US$3 per month can make a significant difference to their daily lives, allowing them to have a little more each day.”
Users of this app can even get more ETN just by extending their earnings every 7 days through the platform.