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How to trade Electroneum for Bitcoin

bitcoinWhat is Bitcoin?

Bitcoin is a decentralized payment system for processing the unit of account of the same name.

It means that computer stations with client programs, forming a peer-to-peer network, remain equal with each other.

The good news for the general public is that no deep knowledge of computer programming is required for using this virtual coin.

To start working with digital currency, it is enough to install a Bitcoin wallet (special program) on your computer, tablet, or mobile phone. The latter will generate your own Bitcoin address. You can create as many addresses as you need (addresses are used only once). The address should be provided to the payer who can make the transfer.

It is also the most traded digital coin and the starting point for all other cryptocurrencies. System operation is achieved using public key cryptography, peer-to-peer network and POW (Proof of Work) security algorithm.

What is Electroneum?

Electroneum (ETN) is a coin which is based on the Bytecoin blockchain. It is designed to facilitate mobile transactions all over the world being a means of payment for communications, exchange transactions, payments for goods, etc. via mobile phones. Speed, low transaction fees and complete anonymity is a distinctive feature of Electroneum. The project considers itself as an application for connecting users of smartphones to blockchain technology. Coins are used while purchasing games and applications via smartphones. At the moment Electroneum is supported by Android and iOS. To carry out any operation with tokens, you just need to install a special application on your device (smartphone or tablet). 

Trading sites where you can find ETN and BTC

There are several options on how to purchase virtual coins. Examining a trading site it is worth scrutinizing the available trading crypto pairs, as well as which digital coins are represented there. 

Exchange services

There are many exchange services that work online and offline. 

Godex is one of them where you can proceed with ETN to BTC exchange anonymously without upper limits and fairly quickly. You don’t need to waste time on lengthy registration and verification, as in case of an exchange, and the site interface is clear from the first minutes of its use.

Crypto exchanges

Beginners are not recommended to use exchanges. On such sites, a user has to undergo verification that takes a lot of time. Crypto exchanges are more suitable for experienced market players who make money on trading operations.

Binance and CEX.IO are considered as the most attractive exchanges for buying BTC. Binance is currently the most popular exchange for trading. It attracts attention with low fees, reliable protection systems, a variety of assets available and no need to pass verification.

Electroneum is still not listed on Binance and major trading platforms such as Bittrex and Poloniex. For some investors, this is an indicator of weak confidence in the project. For others, this creates liquidity problems. ETN tokens are currently available on Cryptopia and other platforms (Kucoin, Liquid and others). In the future, the team hopes to list on Bittrex, Binance and other exchanges. Considering the trading volumes and the average cost of the Electroneum cryptocurrency, it can be sold on the Liquid, TradeOgre, Artis Turba with the highest rate and on the ProBit Exchange with the lowest rate respectively.