Electroneum, a British based cryptocurrency focused on breaking through the mobile industry has just launched a mobile phone to further push with its agenda of mass adoption. The Electroneum M1 phone rewards users back in cryptocurrency and is very affordable.
The cryptocurrency, which is currently being represented in Barcelona at one of the biggest mobile phone exhibitions in the world has a market cap of $66.5 B with a current price of $0.007, down from an all-time high of over $0.18.
By creating the Electroneum M1 phone, the team behind the cryptocurrency hope it can reach out to its target audience more easily and serve them more directly.
The Electroneum M1 phone which looks a little similar to the iPhone 5C gives its users the possibility to cloud mine directly from their phone while also giving them the possibility to pay for airtime credits directly from their mobile digital wallets.
The cryptocurrency is the first ever in the world to target the mobile airtime industry and with its target location being third world countries, the team hopes the Electroneum M1 phone will provide the coin
The phone goes for $80 USD and users can freely get up to $3 USD in ETN monthly from cloud mining ETN. Though this may seem insignificant to people living in the western world, the team believes it is much needed in certain parts in third-world countries.
The Electroneum M1 phone runs on Andriod 8.1 operating system with internal storage of between 8GB to 32GB. It also offers 4G connectivity, dual sim option, a touch screen display and a 5MP rear camera.
The company has also announced a partnership with Unlimited, a South Africa mobile operator. This partnership will facilitate direct airtime top up from the Electroneum mobile APP. This means users of Electroneum in South Africa can now buy airtime credit directly with ETN without the need to first cash out in fiat.
Such partnerships coupled with the launch of the Electroneum M1 phone helps the cryptocurrency push forward with its mass adoption goal while helping, though on a small way to “eliminate” poverty.