How to Buy Enjin Coin (ENJ)
The “boom” of the crypto gaming industry is now bigger than it ever was.
With the power of Blockchain Technology, new utility solutions arise on the horizon.
The Enjin Coin serves as a value token that can be locked into digital items, also known as Non-Fungible Tokens.
The addition of ENJ with digital worlds integrate blockchain assets in a way that true ownership is a reality, so digital assets in the gaming world are backed up by the Ethereum Blockchain.
In today’s blog post, we will show you everything you need to know about buying Enjin Coin.
Keep on reading to learn more about:
- How to buy Enjin Coin;
- Understanding the Enjin Network and its coin;
- Best cryptocurrency exchanges for purchasing Enjin with fiat currencies or crypto.
Understanding the Enjin Ecosystem
The Enjin Ecosystem is an underlying technology that powers a gaming community platform called Enjin (ENJ) Network, which decided to back up items with real-world value, thanks to the power of blockchain.
Some users decide to hold Enjin due to the fast increase of the crypto gaming market, which has grown exponentially under the advantages it offers.
Being an Ethereum token, people can buy ENJ Coins in some exchanges out there.
Although the Enjin Coin is easily tradeable and stored on an Enjin Wallet, its focus aims entirely at using it on the official Enjin Marketplace, which hosts many different games where players can trade assets, acquire new items, and more.
Pro Tip: A classic Ethereum Wallet can be used to store the Enjin Coin, but hardware wallets, such as <strong>Ledger Nano X</strong>, offer more security.
A hardware wallet often consists of a USB Stick where people can deposit crypto and have full control of their private keys, which is way safer than a digital wallet.
Where to Buy, Store, and Sell Enjin Coin
Luckily, you can buy ENJ coin in many different exchanges out there.
Keep in mind that there will always be an exchange commission that you need to take into account before purchasing crypto.
Among the main exchanges where you can start trading and purchasing ENJ, we have:
- Crypto.com Exchange: this exchange allows you to buy the Enjin Coin with a credit or debit card, and other available deposit methods;
- Gemini.com Exchange: this US-based exchange also has Enjin listed on the website. Create your account, make a bank transfer or wire transfer to fund it, and buy the coin!;
- Binance Exchange: Binance is the world’s largest cryptocurrency exchange, and it’s our main choice for buying ENJ. It offers Binance Staking, faster payments, and lower fees than other platforms.
Note: This post does not constitute investment advice. Enji and any other cryptocurrency are highly volatile, and there’s always a high risk related to investing your money in crypto.
Do your research, follow your own advice, and invest only under your own circumstances.
How to Buy Enjin Coin on Binance
In Binance, users have low fees, extra security measures, can perform a wire transfer or a bank transfer from their bank account, Buy Cardano (ADA) easily, and check the current price of all coins easily (see Enjin Coin Price by clicking here).
Overall, it seems like the best option to purchase Enjin Coin (ENJ).
Nonetheless, before you get to do so, it is important to take some important things into account. Without further ado, let’s do it!
Step 1: Set Up Your Binance Account
Firstly, you need to create a Binance profile and verify your identity.
Although some crypto transactions can be performed without completing verification, the truth is that you will still face limitations until you do so.
For instance, adding a fiat currency payment option, such as a debit card, would be impossible if you fail to provide proof of identity to the platform.
This is how centralized exchanges work!
Read Also: Did your Binance Address Verification Fail? What happened? Address verification is the last step to fully verify your identity on Binance.
Learn why it failed, and what you can do to solve this matter by reading our related blog post.
Step 2: Go to “Convert Crypto”
You can’t directly buy Enjin Coin (ENJ) using a fiat payment method on Binance.
If you go to “ Buy and Sell Crypto,” you will see that the platform will prevent you from using your credit or debit card.
Worry not, this happens quite often with some “not-so-popular” cryptos.
You just need to buy Bitcoin, store it on your Binance crypto wallet, and then swap it to Enjin Coin (ENJ).
- Go to “Buy/Sell” on Binance;
- Select the amount of Bitcoin that you want to purchase with your card;
- Check the fees of the transaction, and confirm it.
Step 3: Look for the ENJ/BTC Trading Pair
Once your account is already funded with Bitcoin, it’s now necessary to look for the ENJ / BTC trading pair.
Luckily, Binance is extremely intuitive, so you just need to click on the option that says “ Binance Convert.”.
In the first row, select Bitcoin (BTC), and in the second row, select Enjin Coin (ENJ).
Step 4: Buy Enjin Coin (ENJ) (Swap it For Bitcoin)
Confirm the fees of the swapping transaction (worry not - they will be as love as they get, that’s why we love Binance!), and finish the swapping.
Finally, complete your Enjin Coin purchase on the exchange, and you will be able to store the coins on your Binance wallet until you decide to move them to an external platform. It’s really easy!
There are other ways to buy Enjin, but doing so with Binance is cheap, really easy, and quick.
For more crypto information, GrowFollowing will always be here for you!
Enjin Coin FAQ
Can I Buy Enjin on Coinbase Mobile Trading Platform?
Yes, you can buy Enjin on Coinbase! Although the Coinbase platform isn’t as varied as Binance (for instance, you can’t Buy XRP on Coinbase), it also offers the possibility to acquire Enjin tokens easily, so go for it if you please!
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.