Phoneum: The Next Big Cryptocurrency? Probably Not!

ByPaul Christiano Last Update on

Hey there crypto friend! Have you heard of Phoneum and wondered if it could be the next hot cryptocurrency? As both a data analyst and crypto investor myself, I‘ve taken a deep dive into Phoneum and don‘t think it‘s worth your time or money.

Let me walk you through an extensive analysis of why Phoneum is unlikely to take off. I‘ll also share far better options for earning crypto passively. By the end, you‘ll have all the info needed to make a wise choice. Sound good? Let‘s get started!

What is Phoneum Exactly?

First, a quick background. Phoneum launched in November 2017 with the goal of making crypto mining possible on mobile phones. The team is based in Canada and British Virgin Islands, led by founder Ivan Likov.

Phoneum utilizes the Ethereum blockchain and has a max supply of 20 billion PHT tokens. Currently, around 1 billion are in circulation according to CoinMarketCap data.

The project gained some traction after releasing its mobile mining app on Android in 2018 along with multiple crypto gaming apps. However, Phoneum has stagnated since then, facing issues like app removals and low user retention.

Let‘s analyze exactly how Phoneum works and its potential as an investment.

How Phoneum Mobile Mining Works

The Phoneum app lets you "mine" PHT tokens by clicking a button once per week. Here‘s an overview of how you earn:

  • Each 7-day mining session gives you ~672 PHT tokens worth ~$0.20.
  • Register with email for 20 free tokens or use a referral code for 200 tokens.
  • Referring friends earns you 200 PHT per sign up (unclear on limits).
  • Pay $3+ to boost mining rate up to 17x for a session.
  • Stake 20k+ tokens for a month to earn 1% interest.
  • Play games and complete tasks to earn coins or PHT.
  • Must watch many video ads during games to claim tokens.
  • Can only withdraw after mining 20,000+ PHT, taking months.
  • PHT is tradeable on exchanges like ProBit after withdrawing.

As you can see, earning requires a serious time investment. But what about Phoneum‘s potential?

Can Phoneum Become a Major Cryptocurrency?

Based on my analysis, it‘s very unlikely Phoneum sees significant growth or becomes a top crypto asset. Here are the key reasons why:

  • Low Value Proposition: Each session earns only ~$0.20 in PHT. No real utility for users beyond basic games.
  • Withdrawal Limits: 20k token threshold means mining for months before cashing out.
  • Questionable App Function: Multiple reports of funds disappearing or sudden app bans after earning PHT.
  • Reliance on Ads: Must view 15-30 second video ads repeatedly to earn tokens.
  • Lack of Adoption: Doesn‘t fill a clear user need. Only listed on a few small exchanges.
  • Minimal Returns: As of June 2022, PHT is only worth $0.00033 with limited use case.
  • Stagnant Development: The project shows little activity or progress since its 2017 launch according to their roadmap.
  • Low Trading Volume: PHT only has ~$150k daily trading volume as of June 2022.

Unless Phoneum rapidly builds utility and value for its token, it will likely remain obscure. It lacks the hype or celebrity endorsements that boosted tokens like Dogecoin.

Simply put, you can likely find far better uses for your time than Phoneum mobile mining.

Alternatives for Earning Crypto

Instead of mining PHT, here are some alternative options to earn crypto without intensive involvement:

  • Brave Browser: Earn BAT tokens based on the privacy-respecting ads you view.
  • Coinbase Earn: Watch short videos and take quizzes to earn crypto worth $20+.
  • Airdrops: Join Discord groups and follow social media to get free crypto tokens.
  • Affiliate Marketing: Get commissions for promoting crypto services and products.
  • Microtasks: Complete simple tasks on platforms like Coinbase or BitDegree to earn tokens.
  • Freelancing Gigs: Take on coding, writing, or design jobs paid in cryptocurrency.
  • Staking: Earn yield on your current crypto holdings with little effort.

Several of these options can earn you well over $10 a month passively once set up.

The Bottom Line

Based on the data, Phoneum seems like more trouble than it‘s worth currently. The mining returns are quite minimal compared to the time required.

While the project shows potential, it has many issues to address before becoming valuable. I‘d avoid investing significant time into Phoneum until the token demonstrates real utility.

Instead, consider alternatives that offer far better earning potential for your effort. As always, do your own research before investing in any crypto asset.

Avoid hype-driven projects with no substance. Focus on coins solving real problems and providing value. Then you can build real long-term wealth.

Let me know if you have any other questions!

I am Paul Christiano, a fervent explorer at the intersection of artificial intelligence, machine learning, and their broader implications for society. Renowned as a leading figure in AI safety research, my passion lies in ensuring that the exponential powers of AI are harnessed for the greater good. Throughout my career, I've grappled with the challenges of aligning machine learning systems with human ethics and values. My work is driven by a belief that as AI becomes an even more integral part of our world, it's imperative to build systems that are transparent, trustworthy, and beneficial. I'm honored to be a part of the global effort to guide AI towards a future that prioritizes safety and the betterment of humanity.

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