At the time of writing, Electroneum is at $0.038298 USD, up 45.54% in the last 24 hours. In this article we will discuss about this cryptocurrency, and the potentially disruptive effects it can cause to the global market.
What is Electroneum?
Electroneum is a cryptocurrency (digital asset) used for mobile payments, enabling cross-border transfers instantaneously, to anywhere in the world. It enables over a billion unbanked people with no digital method, a medium of payment for goods and services.
Uses of Electroneum
There are many ways you can start using Electroneum – now.
Instant payment transfers
Similar to PayNow/PayLah!, Electroneum allows instant payment transfers, but around the world, instead of only in Singapore. This enable instant transfers back to your own country – no fees, no middleman, no remittance company needed, saving on fees for example.
Purchase of Goods and Services
AnyTask
There are several merchants that already accept Electroneum. One platform is AnyTask, which is a freelance platform with over 650,000 users allowing people to sell their professional services. It is the first freelance platform that provides access to the global digital economy for the world’s unbanked. AnyTask sellers do not need a bank account, nor do they pay seller fees.
LockTrip
Another way to spend Electroneum would be Locktrip. Locktrip is a blockchain-based travel discount website which allows Electroneum as a direct payment option,. It is also an ecosystem and marketplace where customers can search, find, and book hotel rooms and other accommodation worldwide. It is the first platform to allow customers and property owners to deal with each other without fees.
You can read more about it here.
Should you Invest In Digital Assets/Cryptocurrency?
Investors can consider allocating a small percentage of their resources to invest in digital assets/cryptocurrency, as it is starting to become a viable investment asset class. Do approach a certified financial advisor such as Kenny Loh to find out how you can include cryptocurrency into your diversified investment portfolio.
This is not a recommendation. Investors should understand their own financial objectives, investment horizon, risk profile and their current financial situation before deciding in any sort of investment.
Kenny Loh is a Senior Consultant and REITs Specialist of Singapore’s top Independent Financial Advisor. He helps clients construct diversified portfolios consisting of different asset classes from REITs, Equities, Bonds, ETFs, Unit Trusts, Private Equity, Alternative Investments, Digital Assets and Fixed Maturity Funds to achieve an optimal risk adjusted return. Kenny is also a CERTIFIED FINANCIAL PLANNER, SGX Academy REIT Trainer, Certified IBF Trainer of Associate REIT Investment Advisor (ARIA) and also an invited speaker of REITs Symposium and Invest Fair. Kenny Loh also offers REIT Portfolio Advisory for a fee. Do contact him at kennyloh@fapl.sg