Fiat To Crypto Possibilities For Electroneum


In my opinion Electroneum should create a process for Fiat to Electroneum themselves within their own system. But these are current possibilities that Electroneum could be listed on. I will be messaging them all explaining Electroneum and asking if they would consider implementing to plant a seed. I highly think Electroneum should consider making a system within their platform to covert Fiat to Electroneum.

The crypto world is still young and going to a exchange is normal process for many of us now. In my opinion having Fiat to Electroneum conversion within Electroneum would be the ultimate game changer and imo should be considered being implemented sooner rather than later. The instant payment system changed the game for crypto. Fiat to Electroneum within Electroneums system would change the world.
@ETNCEO @chris.gorman

This would be the ultimate imo bakkt

We should all drop them an email and comment :+1::zap:

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Im lucky enogh to have one in Australia with Coinspot.
Its KYC too.
Only AU to crypto. Or reverse.



Absolutely. So many people have mentioned it over the last year and I can’t really think of a better, quicker more efficient solution than an in-app purchase.

Revolut’s app allows you to top-up any of their 28 international accounts from a choice of credit cards, and then use it to purchase crypto. If they can do it, Electroneum can too. I would happily give them my credit card details.

I remember Richard saying in a video interview ( I can’t remember who with, Mick or Crypto Rich maybe) that this is something they might look into down the road but that it wasn’t one of their priorities.

I wonder whether they decided not to only because of how resource intensive it could be. Having said that, they have hired more staff in the last few months.

I’ve also wondered whether an in-app purchase could be problematic for a few reasons. Might they become a victim of their own success? Let’s assume we get 20 million users this year and the majority of them can buy ETN through the app instantly. I have no doubt this would moonshot the price like nothing we’ve ever seen before, which would be incredible for all us early investors, but once the value of a single coin gets into the tens of dollars, wouldn’t it start to become a problem for micro payments in developing countries because of the limitations of the 2 decimals, increasing the value of the smallest denomination?? I could be entirely wrong and going off on a tangent.

The other problem (and I’m probably wide of the mark here, and completely mistaken again) but is there a chance apple would want to try and take their 30% cut for the in-app purchase? For a similar reason I’ve heard that Netflix want to pull their app from the App Store. Perhaps apple take 30% for each of the monthly subscription. I think Richard also mentioned that that’s why getting games on the App Store to accept electroneum could be problematic due to stepping on Apple’s toes and cutting them out. Don’t quote me on this though.

Hopefully, they’ve figured it all out and it’ll be one of the announcements at MWC, wouldn’t that be nuts!!??


I completely agree with that I’m also not sure how difficult it would be. But it would be worth doing regardless and in my opinion almost necessary if we want true mass adoption.

This interview is partially why I wrote this as it has been in my head ever since he said that. I’m sure it is not an easy task but there are currently many fintech companies going this route and I feel Electroneum would benefit greatly.

As far as I’m concerned apple is just another payment method. Apple still has PayPal and other like fintech apps. I’m not sure what kind of deal they have worked out. I’m not sure they get a cut of transactions made on app.

If other fintech companies are doing these things what is holding Electroneum back from doing it?


Great Story and a great perspective!


I ask myself this question alot, when not if will the banks allowed crypto buy? I believe banks will come to the conclusion that crypto should be in their portfolio so they can keep up with the time. This will happen and i think this will start in 2019 if it isn’t started already


The only thing I can think of is they they know the price can and will skyrocket and so they want as many users as possible in developing countries to have accounts as soon as possible, so they too can benefit from the tremendous potential gains. I mean, it’s all about financial inclusion.

In short, they’re likely strategically holding off until they’ve got all the partnerships across the line. I can’t imagine how crazy it must be trying to juggle all these deals.


This is understandable but the ecosystem Electroneum is building will still provide financial inclusion to anyone who uses the ecosystem. They will still be able to mobile mine and top up their phones and gain from gig economy. The percent of Electroneum gained is smaller but the fiat price is the same. In my opinion this would help the ecosystem providing those who are going to sell out sell and get as many coins used within Electroneums ecosystem. With mass users many coins will be used going back and forth in the ecosystem. Timing is key but I feel that could be the push out of exchanges and into the Electroneum ecosystem that we need. We would separate completely almost at that point. If structure doesn’t hold because of the price and decimal places they could fork and create another coin with more decimals for the unbanked.


I’ve been thinking this a bit recently but it’s probably not a popular discussion point. I can imagine in the future that Electroneum could be bought out in an acquisition by one of the big players, PayPal, Amazon, Apple etc. At which point, the branding and name is likely to change and the technology may have evolved to the point that we have completely migrated to a superior blockchain. Around this same time Richard will be putting plans in place to start his own space travel company to rival Musk, Besos and Brandston.


A fork at that point could be an option and it would resolve those issues. I don’t think Richard would sell out. They may be integrated together but Electroneum is its own in my opinion.


Good analogy I think I heard a similar one but still great my friend! Keep these threads coming they are golden! :sunglasses::+1:


I guess we won’t know until it happens, if it happens. I can see Electroneum being listed on the stock exchange as a FTSE 100 company and I think that would probably come first before a merger or acquisition, but I could be wrong. Facebook saw the potential and acquired Instagram for 1bn and Whats App for 16bn. Electroneum is competition, especially as facebook plan to develop their own blockchain. Why wouldn’t they offer 20bn for Electroneum if they saw the potential? I admit I’m letting my imagination run away with me but it’s not out of the realm of possibility.


I should clarify that it wouldn’t be my preference for Electroneum to be sold off.


Why would Electroneum sell out to a single major corporation when Electroneum can be the gateway currency between every major corporation, everyone and everything?
I don’t see that happening but I could be wrong


Very true.
It makes me feel dirty even discussing the idea they could sell off and not realise whatever their full potential might turn out to be.


It’s completely valid reasoning given how some companies have worked in the past.


Back to talk about the fiat-to-crypto in-app gateway… so if it is implemented this year and around 30% of let’s say 20 million new users in 2019 buy on average $10 of ETN on their first purchase. Does anyone have any idea on where this may place the price?
Obviously, there are a bunch of unknown variables, and Metcalf’s laws etc to factor in but is someone with some maths skills up for taking a stab at this hypothetical? Minty of Minting Coins YouTube fame is good at this type of thing. Does anyone know if he posts in this forum?

#19 is a big one.


Holy smokes, It’s impressive to think they have over 40 integrations. None of them are instant though, right?