How To Buy Enjin ENJ Token 5 Easy Steps Exchanges Wallets

how to buy enjin

Enjin seeks to offer developers an avenue to leverage its token for in-game items on the Ethereum blockchain. The Enjin Network is a gaming platform that allows users to develop chat, websites, clan, and host virtual stores. Enjin users are focused on both gaming and enterprise use cases. Enjin is a platform that has empowered users to create their own NFTs (and FTs) since 2017. Enjin provides services for evolving the blockchain and gaming industry and also operates a virtual goods marketplace for digital assets on Ethereum.

What is ENJ Coin?

Radomski and Maxim Blagov founded Enjin in 2009 as a gaming community platform and they organically grew their platform to over 20 million users. Aside from being able to sell in-game items to other players, each in-game item on Enjin has real intrinsic value. This is because it costs Enjin tokens to mint an NFT on Enjin’s network; these tokens are then locked into the gaming NFT. If they so decide, gamers are able to “melt” their NFTs, essentially deleting the NFT and recovering the Enjin tokens that were locked in it. One of the great features of Enjin is it helps someone convert in-game tokens into Ethereum based cryptocurrencies. Alternatively, you can buy Enjin and hold it for a long period before selling.

  1. You can sell your Enjin tokens for either Bitcoin or Tether (USDT) on Binance, giving you the option to keep your funds invested in cryptocurrency if you so desire.
  2. Enjin is one of the few companies in the blockchain industry that was founded before the prominence of cryptocurrencies.
  3. Enjin released a gaming Android version of its blockchain wallet in 2018 and a new version of its iOS wallet a few months later.
  4. Finally, with regulated brokers, all users go through a Know Your Customer (KYC) process.
  5. This is because it involves a careful analysis of Enjin and an understanding of the coin’s historical data.

Robinhood’s Q1 2023 Crypto Revenue Falls To $38 Mln From $54 Mln Last Year

If Bitcoin isn’t able to sustain its growth, it’s unlikely that other cryptocurrencies will continue to rise. Depending on your country of residence, different payment methods would be available for you, ranging from bank or wire transfers to credit how do you allocate service department costs to production departments or debit cards. There are no transaction fees on bank transfers for buying ENJ or any other cryptocurrencies on Coinbase; however, you won’t be able to withdraw them for 5 days. Enjin has combined nonfungible tokens (NFTs) with the gaming industry.

How To Buy Enjin (ENJ) Token – 5 Easy Steps – Exchanges – Wallets

Overall, it only takes a few minutes to sign-up and upload the necessary documents to start trading on Binance. Buying ENJ is very straightforward and similar to purchasing other cryptocurrencies. Enjin coin’s parent company Enjin was launched as a Gaming Community platform in 2009 in Singapore. The founders of the company are Maxim Blagov and Witek Radomski. You may be asked for phone/email verification before a withdrawal can be processed.

how to buy enjin

Enjin could have a pivotal role in gaming

Enter the price in bitcoin (BTC) and the quantity of ENJ you wish to purchase, and then click the buy ENJ button to receive your tokens. And at this point, you’ll have placed your first ENJ order on Binance. As of the time of writing, Enjin’s (ENJ) price is $1.40, its 24-hour trading volume is $176.7 million, and it has a market capitalization of $218.4 million. The participants can use ENJ token to vote on proposals of efforts to optimize the network usage. It is also used to pay transaction fees, facilitate liquidity, and reward community members. Enjin Co-Founder Witek Radomski helped code the ERC-1155 Ethereum token standard.

how to buy enjin

Enjin (ENJ) can be safely stored using Trust Wallet, so we’ll use that. The team at Enjin has been busy developing its platform to gain new users. The company has secured major partnerships with game developers like Atari and Microsoft.

However, irrespective of your strategy when buying Enjin, you’d want to do so in a secure manner. Therefore, it is preferable to opt for regulated brokers in this regard. The limit order, on the other hand, is a way for you to take full control of your Enjin purchase. Here, you decide the entry price at which the broker should execute your buy order. This order type is the best choice when you’re buying Enjin based on thorough research and a clear investment plan.

Due to the buzz around cryptocurrency, people think it’s a venture where you can throw money around and expect enormous returns. From the above, it is clear that you can decide to start small or big. It all depends on the amount you’re willing to put behind Enjin and your risk appetite. However, you should note that this option is most suitable for experienced cryptocurrency pros. This is because it involves a careful analysis of Enjin and an understanding of the coin’s historical data. That is, you can make decisions based on research and adequate analysis instead of mere instincts.

As you can see, buying ENJ on Binance is easy, making Binance the go-to place for most traders and investors in ENJ or other cryptocurrencies. The platform can be used to mint both Fungible tokens (ENJ coin) and Non-Fungible Token (NFTs). Blockchain technology and cryptocurrencies have taken the world by storm.