The internet is changing. Loads of people are taking part in the web 3.0 movement already but it is still just the beginning.
In this post I want to share my experience of mining from my Android device and here are some points of why you should read this:
- If you still haven't started your journey into the crypto world for some reason but want to get a bit more info.
- If you are already investing in cryptocurrencies and want to learn about a new token that you can use for diversification.
- If you want to support TestingCatalog by using our referral links.
We also have a new DAPPs channel on Telegram if you want to know more about getting started with web 3.0, crypto, DAPPs and NFTs 📩
What is ENQ?
I started playing with DAPPs on Android a while ago and one of the projects that I was watching since the beginning is called ENECUUM. ENQ is a blockchain mobile network for decentralized applications. In other words, it is a cryptocurrency that was built specifically for mobile devices. This network uses proof of activity for mining new tokens and doesn't really need any hardware resources from you. I was working with ENQ for the past 6 months and here is my experience.
How to start?
In web 3.0, it all starts from the wallet. No matter which wallet app will you choose, you will need to create a new address and back up a seed phrase. In the case of ENECUUM, there is a standalone wallet app that you may find on Google Play.
However, it is just a wallet and you cannot mine anything with it. The reason behind this is that Google Play doesn't allow mining apps. This is mostly the case because crypto mining apps are normally doing shady things and use your device resources. Despite the fact that ENQ isn't shady and almost doesn't use your device resources, this Google Play rule has no exceptions.
Because of this, you will need to side-load its mining app from ENQ official website. After installing it, you will be asked to create a new wallet.
During the wallet creation process, you may also use our referral code to gain a +10% bonus for your mining activities
Now you can explore the app and check the network map to see how many miners are active out there. As ENQ mining is based on proof of activity, you will need to stake some tokens first in order to get started. The entry point for ENQ is 25 tokens which is a very tiny amount (around 2.5$ at this moment) plus you may need 5 more tokens to cover the transfer fee. However, in order to get these initial tokens, you will need to buy them on KuCoin first and there you will need to deposit a bigger amount of Fiat first (Fiat is a normal currency like USD or EUR in crypto terminology).
If you are not registered on KuCoin yet, you can use TestingCatalog link to do so.
After you buy some fiat or USDT or BTC tokens, you will be able to exchange them for ENQ tokens. The last step in this journey will be to send these ENQ tokens to the wallet that was created in your ENQ mining application.
As soon as you have 25+ ENQ tokens on your wallet you can simply go to the mining tab and start mining activity. It will start a background process which you will be able to access from the notification tray. On the main screen, you can also navigate to the ROI section in order to check the current return of investment rate based on the number of ENQ tokens that you was able to stake. Unfortunately, if you only have 25 ENQ, you will be only mine 0.01 ENQ per day but that should at least give you an idea of how it works.
What did I get after 6 months of mining on my Android?
First of all, I am playing with this app for testing purposes and also to diversify my portfolio so I am not trying to mine as much as possible. My total profit with this app is +11 ENQ tokens which are probably equivalent to 10$ on average.
In my case, I wasn't paying attention to this mining activity from time to time and the overall mining time for me was probably around 3 months in total.
I was mining with 1500 ENQ tokens which gives me around 4 ENQ per month. The maximum ROI that you can have per month is 366 ENQ tokes and you will need to deposit 25000 ENQ tokens (around 2600$) in order to be able to mine that much. Plus you can always get more devices and repeat the same setup on several wallets.
Please bear in mind that the volatility of the price of ENQ tokens is very high and it can go in any direction at any point. Please do your own research before investing in ENQ.
You may also wonder if it was draining the battery? Not at all! I haven't noticed any battery drain and my Samsung also hasn't flagged the ENQ mining app for battery consumption. The ENQ team did a really great job here and you can read their research papers if you want to know more.
I decided to write about ENQ specifically because it is the best mobile-focused token that I know so far. It is interesting to explore and also has a good potential as an investment.
ENQ blockchain also allows the creation and distribution of new tokens. Its community is active as well as its development. You may have to visit their website from time to time in order to get an updated version of their mining app.
Let us know if you had a chance to give it a try already!