Hello My CryptoFolks , In this article I will be explaining all of you about what this new crypto-token ENQ is ….. how to mine it and is it really profitable .
Let’s Get right into it .
So for the ‘ WHAT ’ — ENQ is a ERC-20 Token (Basically ENQ in testnet) is a mineable coin that brings in a new technique of mining with a hybrid consensus algorithm mechanism that allows PoW (Proof of work), PoS (Proof of Stake) and PoA (Proof of Activity) to be used simultaneously and proportionately.
Hybrid Consensus Algorithm Mechanism
You Heard it right people You can mine(Android and iOS) this token and the price of this token is pretty less right now since there are only few members mining as of now but its rapidly growing and its currently listed in 4 different exchanges including a widely used , popular exchange KuCoin .
The best think about this coin is that it unleashes the potential of staking with mobile devices which is very easy and it does not affect the performance of your mobiles too . It just uses your unused CPU memory to do the work .
For more details Check the official youtube video below.
And now for the ‘HOW’ — All you need is four things as follows:
Enecuum Wallet
Enecuum Master Node
Metamask Wallet with some Gas Fees
And 25 ENQ to start with.(you can get some from KuCoin.)
Step 1:Download Enecuum app from here .
Step 2: Register the app and keep your private key safe.
Step 3: Buy ENQ from the exchange . (KuCoin Recommended).
Step 4: Withdraw ENQ bought from exchange to either meta mask wallet ,eth address .
Step 5: Swap here wallet.enecuum.com, log in using your private key. Swap from ERC20 to ENQ.
For the Swapping part please take a look at the below video :
Step 6: Go back to your app, click start activity.
Step 7: Keep calm and start mining.
And for the reward breakup for mining will be distributed between its participants as follows: PoA — 70%, PoW — 20%, PoS — 10%.
So the more you stake the more ROI you get on a daily basis . The below image can give you a clear assumption of what how much you can earn.
And the amount of ROI you earn will be more if you join the encuum mining through a refer link . You can get some referral links from the enecuum Telegram Group.
And for the important part “Whether it is profitable or not”.
I would say Yes and no …. haha….let me explain….why? For the yes, If you are a daily trader and you have some surplus cryto to invest in , I would say just go for it . You can get an excellent ROI and make profit pretty easy.
But if you are just into crypto and you wanna try mining enecuum with the minimum token limit of 25 , please don’t waste your money . From the picture about the ROI rate you can see that , to just double the rate you input for the staking it will take about a year . And most importantly we cannot predict the nature of the blockchain nor the price of the token .
You can survive a dump if you are in the category that has more tokens atleast with a little loss . But when it comes to people who less tokens will lose a lot .
So i would recommend you to get into mining if you are ready to invest about 500 ENQ or above.
And Thats it for my personal Review about the New and trending mineable token Enecuum . Thank you so much for reading my post and give me some claps to let me know that you liked it . It gives me motivation to make more honest reviews like this .
Once Again Thank You soo much for readingfolks….LOVE YOU ALL my crypto_nerds❤ Peace OUT!