Many of you’ve already heard about Cloud Mining. And you know to mine any cryptocurrency basically we need to purchase a contract of cloud mining. Those who are looking for free cloud mining contract to earn cryptocurrency without any prior investment this post for you.
In this blog post, I’m gonna explain Electroneum (ETN) Cloud Mining that is free and you do not need to purchase any contract to mine this special coin. You will learn how to mine Electroneum, what is cloud mining, how does it work, how to activate free Cloud Mining and how to join this program. This isn’t exactly an Electroneum review. It’s just quick tutorial on how to earn a few bucks doing absolutely nothing. But in my next post, I will be more focused on Electroneum and how network really works.
What is Mobile Mining or Cloud Mining?
The first obstacle to using a smartphone as a mining tool is the drain on limited resources the phones have in terms of power, bandwidth and storage capacity. Using the standard blockchain mining algorithms for mining with smartphones has been shown to bring about poor performance, heating of mobile devices and faster battery drain. At the same time, phones have issues with handling the amount of data the blockchain needs, making it necessary to connect them with external storage devices which may be an impractical solution.
Electroneum gets around these issues by making your smartphone’s CPU the backbone of its “simulated mining” system. This means that the Electroneum app will compute how many coins could be mined based on the phone’s CPU capacity and give the users coins for it without actually using the device’s power to engage in real mining. In that sense, the app functions as a sort of gateway for a coin reward program and a tool for recruiting users for the genuine ETN mining which is done on PCs.
While the mobile mining will not work in the sense that it will allow the user to actually verify new blocks, the rewards in the form of real ETN coins are still available. Based on the CPU power, the phone gets the hash rate and appropriate amount of ETN coins which are sent to the owner’s wallet. At the same time, the use of the CPU prevents the scams with simulated app iterations which could be used to get access to free ETN coins.
Using the simulated mining system means putting less pressure on the mobile device which runs the Electroneum app. This results in prolonging the battery life and requiring a very small amount of bandwidth and storage resources to handle the needed data. The data will only be used to check the account balance and transaction-related information with servers. Electroneum’s focus on enforcing the minimum use of data will arguably make it possible for the users in the countries with expensive internet to engage in mining without having to worry about incurring significant costs.
How does Cloud Mining works?
Once you’re done with activating Cloud Mining on your account, you will be earning Electroneum without having to keep the app active on your device. All the mining magic is handled on Electroneum servers, so you don’t have to worry about anything.
There are 7 days of Cloud Mining contract before your mining will stop. You need to start mining again and it is because of to ensure there is no bot but only real people earning Electroneum.
After 24 hours of starting Cloud Mining you can extend the amount of Cloud Mining you have left back to 7 days, so make sure you come back to the app at least once a week to keep your mining active.
How to Install the Electroneum App on Android?
Start Electroneum App. When you first time starts the app you must create an account on the Official Electroneum website.
You will be asked to verify your email address, so you should be quite careful not to enter the wrong one. There’s also a way to sign-up using your Facebook account, however, I don’t recommend that as if Facebook decides for some reason to terminate your account it will be very difficult to access the Electroneum app. Note that you’ll need to click a lot of “I’m not a robot” buttons in this process. This is a safety measure to keep out the bad guys and protects the site from bots.
Provide a mobile phone number to which you have access right now. Electroneum will send a confirmation code to this mobile numbers (a precaution to prevent spammers from creating multiple accounts).
Provide an email address that will be used to reset your PIN code in case you forget it (this email address has to be different to the one you used initially).
After all these steps your account is created and you can start the application again, enter your PIN-code and start mining. First coins will be in your wallet after 4-5 hours.
The process might seem tedious and complicated but all that is for your own safety because the app is also your personal Electroneum wallet.
How do I activate Cloud Mining on my Electroneum app?
Open the ETN app, log in to your account. Take a picture of yourself and your Cloud Mining app will be activated. In a few days, you will be asked for a second selfie, you’ll need to draw a symbol on a piece of paper and take a selfie with that. Once you have been verified, payouts will be unlocked.
How fast can I mine and earn Electroneum for free?
The amount of Electroneum (ETN) you can mine is constantly fluctuating so there is never a defined number, the best thing to do is to leave it running for a period of time and measure the amount you’ve earned.
Does this use a lot of data to mine Electroneum?
No. Electroneum mining is just simulation and requires a very small amount of energy and bandwidth.
When do I get paid or can withdraw my free earned Electroneum?
Once you’re reached minimum payout threshold of 100 ETN, your earned Electroneum will be moved to your wallet.
Can I create multiple accounts?
No. Electroneum terms of service allow only one Electroneum mining account per device, and they will allow up to 5 devices per IP before getting suspicious. Also, they may ask you to verify your account by submitting an ID or passport.
Get Bonus ETN by Referring Your Friends
The Electroneum has a viral referral system that incentives users to introduce their friends to the app.
The referral system works on a commission-based system. For every user you refer, you get 5.00% bonus ETN based on what they are mining. In addition, your referrals will get a 1.00% bonus on top of what they mine when entering your referral code.
So for every 10 ETN mined by one of your referrals, you will receive 0.5 ETN and they will receive 0.1 ETN as a bonus. This system benefits both the referred person and the referer and has been designed to speed up mass adoption of the coin.
To refer your friends, go to the More tab at the bottom of the app and click on Earn Free Coins. Then click Show My Referral Code/QR. Once your friends have signed up, send them your QR code or referral code number.
How to Get Your Own 1% Bonus?
As I’ve mentioned, each referred person will also get a 1.00% bonus on top of what they mine.
Since I’ve now referred you to the Electroneum app, please feel free to use my referral code 8C7EFC or scan the QR code below to enable your own 1.00% bonus. This is purely optional and you are under no obligation to use my code.
Is Electroneum Cloud Mining Scam or Legit?
There is no doubt that Electroneum App is a great project. I’m using this miner for almost a year and I never had a problem with them. Also, I’m a long term holder of Electroneum coins and a big fan of this project. The story behind the coin is great and I think that the price will go up in future years. It is true that the process of creating an account is not easy but after that, you will earn passive income for years.
Hello everyone. I always introduce myself as a lover of cryptocurrencies in general and everything that surrounds them. Also, I’m the owner of starfaucet.net network ( Faucets, Auto Faucets, Faucets Lists…) On this blog, you will be able to find up-to-date news about the world of cryptocurrencies, ways to make extra money online and perhaps some other additional things.