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The Enjin Coin, also abbreviated as ENJ, is a cryptocurrency that is based on Ethereum and serves as a value-backing asset for next-generation fungibles and NFTs. ENJ is the currency’s common abbreviation. Enjin’s extensive product suite simplifies the process of working with non-fungible tokens for a wide range of users, including individuals, organizations, and software developers. This is beneficial for all of these groups (NFTs).
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Enjin Tokenomics
One billion Enjin Coins (EJN) are available, with 870.6 million currently in circulation. The following methods were used to distribute ENJ tokens:
- 400 million Enjin tokens were sold in the pre-sale.
- Crowdsale buyers who did not receive pre-sale bonuses purchased an additional 400 million tokens.
- Members of the Enjin Coin community, such as strategic partners, marketers, and beta testers, each got $100,000,000.
- The remaining $100 million will go to the Enjin team’s members and advisors.
While Enjin’s current price is $1.40, its 24-hour trading volume has topped $176.7 million, and its market capitalization is at a whopping $218.4.
One of Enjin’s regulating tokens is Efinity (EFI). By using the ENJ token, participants can cast a vote on recommendations to improve network utilization.
Where to Buy Enjin?
On a cryptocurrency exchange such as eToro, it is possible to purchase Enjin Coin (ENJ). You are able to purchase and sell cryptocurrencies on these specialized exchanges, which operate in a manner analogous to that of stock brokerage firms. Since 2009, Enjin has been operating as the company that is responsible for the ENJ coin.
How to buy Enjin Coin on eToro
If you are looking for a place to buy Enjin, look no further than eToro. We have done some research on the best places to buy Enjin and discovered that eToro took the first spot.
These step-by-step instructions below will guide you on how to buy Enjin with eToro:
Step 1: Open an Account
You may sign up for an account with eToro by going to their website. Find the button that says “Start Investing” once you’ve logged into the site so that you can complete the registration form. To finish registering for your free eToro account, simply click the “Create Account” button.
Step 2: Upload ID
The next step after your email has been verified is to upload either your ID or passport. From the upload page, you can choose your file and click the upload button.
You must be sure that the image you are uploading is clear enough to be acceptable on the platform. Otherwise, your document may be rejected. Also, your documents will also be subject to review by the eToro team. If certified to be OK, then your verification is successful, otherwise, you will need to go through the process again.
Step 3: Make a Deposit
Once you have completed the steps above, you can then proceed to make a deposit into your account. To fund your account, follow the steps below:
- Select “Deposit Funds.”
- Enter the desired amount and choose your preferred currency from the drop-down menu.
- Finally, choose the deposit method that works best for you.
- Make deposit.
Step 4: Search for ENJ
Once your deposit is successful, search for the Enjin coin on the eToro Market.
Step 5: Buy ENJ
Proceed to the final stage, which is to place your buy order once you are able to find the coin on the market.
How to buy Enjin with PayPal?
In most cases, you are required to first buy Bitcoin (BTC), and then convert the Bitcoin to Enjin Coin on a cryptocurrency trading site. However, there are some exceptions to this rule. Here is a list of what you need to do to get Enjin Coin:
- Create an account for a cryptocurrency wallet:
The first step in the procedure is to set up an online wallet for your bitcoins. Pick a trustworthy cryptocurrency wallet that allows you to make Bitcoin purchases in your country. - Use your PayPal account to make a Bitcoin purchase:
You’ll be able to make quick purchases of bitcoin with your PayPal account after your personal identity has been verified and your crypto wallet account has been activated. - Register for an Account on a Cryptocurrency Exchange Platform:
Find a trustworthy cryptocurrency exchange site that allows you to trade Enjin Coin for other cryptocurrencies. You must move the Bitcoin that you just purchased to the exchange platform as soon as possible. eToro is the cryptocurrency exchange platform that we suggest you use first. - Exchange Bitcoin for Enjin Coin:
The final thing you need to do is visit a website that facilitates the trading of cryptocurrencies and convert the Bitcoin you just purchased into Enjin Coin.
How to buy Enjin with Credit Card?
If you have a credit or debit card, you can easily buy Enjin. In comparison to most other payment methods, card transactions allow you to buy Enjin immediately. Cards can also be found readily. Furthermore, most cryptocurrency trading sites, including eToro, accept card payments.
On eToro, the minimum deposit you need to buy Enjin with a credit card is $200, but $50 for US residents. Also, the highest deposit you can make with a credit card on the platform is $40,000. A deposit processing fee is not charged by eToro or any other exchange or brokerage. As a result, you will simply have to pay the card processing fee. Withdrawals, on the other hand, are subject to a $5 transaction fee and a $30 minimum.
Buy Enjin Coin (with or without leverage)
Once the money is in your trader account, you can buy Enjin coins. Depending on which trading platform you prefer, you will be able to use leverage or get Enjin coin private keys. Most exchanges let you own the Enjin coins you buy by giving you the private keys that go with them. But they don’t let you trade on margin.
On the other hand, you can only trade CFDs with a brokerage. This means betting against the brokerage on which way the price of the coin will move next. So, you don’t get to own the private keys for the token. On the plus side, you can trade Enjin CFD with leverage. eToro, for instance, lets you trade CFDs on Enjin coins with leverages of 1:2 to 1:5, depending on where you live.
Safe Storage
Investors are protected by a variety of precautions at the eToro crypto exchange platform. This is because the company follows the rules set by CySEC, the FCA, and ASIC in order to do business.
eToro uses SSL encryption on all of our customers’ private information and finances, and we only partner with the most respected financial institutions in the world to keep our clients’ assets safe.
It also offers a Two-Factor Authentication option for users to further secure their accounts, which requires the entry of a verification code that was sent to your mobile phone via SMS in order for you to be able to access your account. This further enhances the level of security that can be afforded to users’ accounts. You can turn on or turn off this extra layer of security at any time in your account settings.
When engaging in any form of trading, it is crucial to keep in mind that there is always some level of risk involved. Because of this, eToro gives its users the strong recommendation that they trade safely by gaining as much knowledge as they can and diversifying the types of assets that they have in their portfolios.
Alternate Ways to Buy Enjin
There are alternative ways in which one can get the Enjin Coin. Check out the subheadings below to learn about these other ways to purchase the coin.
Enjin ATMs
When certain conditions are met, users are able to make purchases of cryptocurrency using traditional ATMs. This is not something that is suggested, nor can we recommend doing it. On the other hand, there are over 30,000 cryptocurrency ATMs spread throughout 78 countries around the world. There are websites that are solely devoted to the task of locating these cryptocurrency ATMs. For instance, they are against the law in every single way in the United Kingdom. If you wish to get more information on the legality of crypto ATMs in the UK, go to https://fortune.com/2022/03/11/crypto-atm-illegal-uk-financial-conduct-authority/.
P2P exchanges
Peer-to-peer (P2P) trading is a type of cryptocurrency exchange that lets traders trade directly with each other, without the need for a centralized third party to handle the transactions.
When you use a peer-to-peer crypto exchange, you don’t need a third party to act as a middleman. Instead, traders can talk to each other directly.
While traditional Bitcoin (BTC) exchanges often have rigorous laws and require users to go through an extensive verification procedure, P2P trading platforms are significantly more liberal in terms of their rules and regulations.
Mainstream Brokerages
Many people believe that cryptocurrencies are the future of finance. When you’re ready to leap into crypto, choosing a broker to trade or invest in cryptocurrencies is one of the most important steps to your success in the crypto market. One of these crypto exchange brokers is eToro. With eToro, you have a safe and secure platform where you can carry out crypto transactions.
There are other very good platforms you can use to exchange your crypto. Binance, Pankakeswap, eTorox, Crypto.com, and Capital are a few examples of such mainstream brokerage platforms.
How to invest in Enjin?
There are a few ways to invest in Enjin. The most obvious way is to buy the coin and wait for its price to go up. However, there are other ways too you can make investments in Enjin like using ETF and ETP as explained below.
Crypto ETF
On the stock market, an exchange-traded fund (ETF) is a mutual fund that may be traded. In comparison to other types of funds, they are less expensive to invest in and track the performance of a certain industry or stock index. Investing in a Bitcoin ETF would provide exposure to the currency’s value, but you wouldn’t own any of it.
Crypto ETP
A financial instrument known as an exchange-traded product (ETP) is one that mirrors the value of another asset or product, such as a stock index, a commodity, or another stock. ETPs, or exchange-traded products, are traded on markets, as their name suggests.
Conclusion
Finally, the Enjin Coin project intends to contribute something useful to the virtual goods industry, which is currently worth $17 billion. They have high hopes that by putting game assets on the blockchain, they will be able to curb fraud, which, according to certain measurements, occurs in almost 80 percent of all gaming transactions.
That would be a significant step forward for the video game industry as a whole, as well as for individual gamers. Since Enjin has so many customers right now, the coin should be used by a lot of people very quickly, given how big the company is.
WeInvests is a financial portal-based research agency. We do our utmost best to offer reliable and unbiased information about crypto, finance, trading and stocks. However, we do not offer financial advice and users should always carry out their own research.
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