United Kingdom-based digital payments firm Electroneum has introduced an Android smartphone, dubbed M1, that rewards users in cryptocurrency.
The $80 smartphone enables mining of Electroneum’s native token ETN in return of using the smartphone. Phone users can mine ETD through an app directly from their devices both in online and offline mode.
The mined coins can be used as payment for shopping, online services as well as mobile data upgrades.
The M1 has two SIM slots, 4G, 8 GB–32 GB of storage, and is powered by a Quad Core 1.3 Ghz processor. Cameras are a less than overwhelming 5 megapixels (rear) and 2 megapixels (front).
“To start with we will be selling the M1 in South Africa, as this is our first launch market. The M1 will be sold through local vendors,” Nick Cook, head of operations at Electroneum, told.
ETN is currently ranked 63rd largest coin by market capitalization, amounting to $63.2 million at press time. The coin is currently trading at $0.007, down over 4 percent over the past 24 hours.