Electroneum to launch M1, an $80 cryptocurrency mining Android phone

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UK-based Electroneum is set to launch M1, an $80 android device that empowers users to be paid in return for its use.

The device has incorporated the tech firm’s groundbreaking Cloud Mining technology which enables users to earn cryptocurrency simply through an app.

Styled in ‘Electroneum Blue’, the M1 has a 4G and dual-sim capabilities and is targeted at millions of users across the developing world. The new Electroneum app-based Cloud Mining system makes
Electroneum (ETN) accessible to anyone with a smartphone to allow users earn some ETN cryptocurrency directly from their devices. Only simple interactions are required to commence mining on the free app, and once completed, mining can continue offline.

The cryptocurrency can be used to pay for services such as mobile top ups (airtime and data), online services or shopping.

M1 has passed stringent GSMA approval and Google GMS certified qualifications.

According to Electroneum CEO and founder, Richard Ells, “With our experience in tech, we were able to gather a world-class team consisting of telecommunications, manufacturing, emerging area mobile-operators, product design and marketing specialists, all helping to make this utopian vision of ours a reality.

Without the broad range of talent and expertise, we could never have imagined the possibility of making a product of this calibre accessible for anyone in the world, and we are extremely proud of the result.

Electroneum’s M1 aims to further financial inclusion, as well as their string of world firsts achieved, including Instant Payments and KYC/AML compliance.