With the Electroneum relaunch imminent, let us take a look at what you need to do to get started, we of course are looking at both ETN holders and new/potential buyers here so please skip the parts that don't concern you, hey, and no berating us for getting this wrong if this ETN re-launch doesn't exactly go to plan, we hop that it does as much as you!
Know the background
ETN launched back in November, security threats promptly stopped the release of wallets, the cancellation of the android apk and subsequently the ability to sell any ICO tokens, this frustrated and angered some, others listened to the ETN team and praised them for their diligence. Since then, Electroneum have brought in Hackerone to help secure their systems, and brought in new marketing gurus, not to mention they have seemingly been working with a rather large mobile service provider which we can only assume means great news for mobile mining, in short, we are back to square one but seemingly in a much better situation.
Know what you can not do.
The iOS mining app is not ready till next year, simple as that, later today you will hopefully have access to the Android app but demand will be high, so be patient.
Understand the risks
Crypto is not for the feint hearted, if youre expecting to make your millions this week, you will likely be hugely disappointed, that's not the aim of the game. Hold onto your ETN while this launch frenzy allows the market to settle. Invest only what you can afford to lose!
Step by Step - Here's what you need to do.
1 - Reset your password for Electroneum
You WILL need to reset your password from https://my.electroneum.com AFTER 12 noon tomorrow. The electroneum site will be loaded to the max, don't be too surprised if you are unable to access immediatley. You will need to confirm your account on your mobile device by SMS message, and set up a new 5 digit PIN numbers
Web Based wallets will also be accessible from https://my.electroneum.com allowing iOS users access too.
2 - We recommend downloading your Paper Wallet, printing a couple of copies and putting them into a safe or somewhere of very safe keeping.
3 - Sign up to Cryptopia if you want to start trading your ETN.
Cryptopia is an easy platform for
you to transfer your ETN too. We have mined, and tested it and can
recommend it to you for the time being, we would much prefer Bittrex but
hey, we have a starting point.
The price of ETN will be erratic today, many "specialists" are expecting the price to fly high, but we are a little more reserved and expect it to drop further when mass token buyers are dumping ETN for small profits, think about this, and HOLD your coin, weather the storm so to speak and hopefully in a few days we will see some stability.
5 - Do not share your address with anyone
6 - And this is your choice, but, we recommend holding coin for the first week to see how the price goes, don't be over ambitious, don't be disappointed - Electroneum are bringing Crypto, mining and and a whole new world to the largely unknowing public, this ride could be bumpy but it could also be massive.
7 - Keep your fingers crossed, hell, keep everything crossed that this all goes according to plan and then start thinking what's next. iOS mining, Mobile provider tie ups could lead to bigger things, a man I knew once used to say "time will tell" (granted he was often drunk beyond comprehension) but as it turns out, it's a very true statement.
Good luck folks!
Coinfeed and its authors would like to remind everyone that currency can go up and down faster than the blink of the eye, only ever invest money that you can afford to lose, anything else is a bonus.
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