Electroneum (ETN) has become a hybrid to cryptocurrency. Every time, there is movement in the mainstream cryptocurrencies, Electroneum (ETN) follows suit. During the 2nd half of 2018, it hogged the limelight as it became KYC compliant. However, that is not all. There are a few reasons why you should keep Electroneum (ETN) on your radar despite its flaws.
Why you cannot ignore Electroneum (ETN) despite its flaws?
I believe that it can be kept as a high beta option if you trade in cryptocurrencies. Since the cryptocurrencies are not moving forward in Electroneum (ETN) has not shown a similar gain, it might follow suit as well. However, this is a dangerous strategy. It might reverse at the slightest impulsive movement in the mainstream cryptocurrencies as well. Nevertheless, if you want a hybrid cryptocurrency in your portfolio, you can keep a watch on Electroneum (ETN).
You have to understand that only when there is consistent development in Electroneum (ETN), can it recover. Just by being KYC compliant, it can rise only for a limited time. If at all, you’re thinking about investing in Electroneum (ETN), it is a good idea to invest not more than 5% of your portfolio. It will help you capture the upside whenever there is a rally. Most of the cryptocurrencies are significantly beaten down, the chance of recovery is on the higher side.
Thus, instead of completely ignoring Electroneum (ETN), it is a good idea to keep it on your radar due to the above few factors.