The first thing you have to conclude on is whether you’re buying ENJ coins on a long or short-term basis. If your aim is to be a short-term buyer, this means you aim to profit from the coin’s constant price movements. Furthermore, regulated brokers often come with an integrated wallet for storing your Enjin tokens. This is more suitable for newbies – as you won’t need to have any knowledge of private wallets. Therefore, when looking to buy Enjin tokens, it’s essential to do so from a regulated broker. Ideally, if you’re looking to buy Enjin, you should consider a broker that is regulated by CySEC, FCA, or ASIC.
What makes ENJ Coin unique?
Market orders are fast and highly automated in that once you instruct the broker, it will execute the purchase on your behalf. Creating an order is how you let your broker know what you intend to do. If you’re familiar with the cryptocurrency world, you’ll understand the different types of orders you can place. For instance, when you research, you’d realize that Enjin grew from an all-time low of $0.015 on 02 November 2017 to a high of $4.85 on 25 November 2021. Knowing this, you can decide whether to buy and hold this coin or not, considering that it took nearly four years to experience such an increase. Having a target price is an indication that you’ve done your research before deciding to purchase this innovative digital token.
Give Regular Investments a Consideration
This method was used before embarking on its foundational project, Efinity, which is a speed-enhancing measurement solution for its platform. This network is also the platform that launched the Raiden Network testing, an Ethereum-based version of the Lightning Network. Unless you’re trading, never keep your coins on an exchange for an extended period of time. To withdraw your Enjin (ENJ), hover over the “Funds” tab and click on “Withdrawals”.
- Therefore, if you’re uncertain about your expertise in that regard, you may want to consider a long-term plan.
- Additionally, gamers can launch their token backed by Enjin Coin, which simplifies integrating crypto into gaming systems.
- The wallet is an all-in-one place to store your crypto assets and NFTs.
- Witek Radomski is one of the first people to write the code for the first NFT (Non-Fungible Tokens).
- 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.
What is Enjin coin (ENJ)?
EToro is a good example because the broker is regulated by ASIC, FCA, and CySEC. The only difference is that credit card transactions may attract a cash advance fee. Although this fee is often the same across most card providers, it may vary for some. Earlier on, we briefly established the importance of storing your ENJ tokens. We will explain more extensively here to ensure you have a firm grasp of how this works. Cryptocurrencies need to be stored just the same way we store fiat money in the bank.
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If you find this suggestion helpful, then you’ll need to get a broker with a low minimum investment requirement and generally has an affordable fee structure. To make impressive returns through this short-term strategy, you’ll place numerous Enjin orders across the day. However, if the market doesn’t move in your favour, you can also suffer a substantial loss.
This platform is specifically for the gaming industry and provides gamers with the opportunity to create their communities around the games they play. Furthermore, using your wallet, you can melt NFTs to convert them to ENJ. Maxim Blagov has also taken on the role of a creative director for the company, describing himself as a marketer, project manager, and designer.
From the two order types, a market order is the most straightforward. You don’t have to do too much analysis or predictions on https://cryptolisting.org/ Enjin’s price. Once you understand what to look for when choosing a broker, the next step is how to open an account with one.
When you want to sell your Enjin tokens, you’ll need to transfer your funds from your Ethereum wallet to your cryptocurrency exchange. You can sell your Enjin tokens for either Bitcoin or Tether (USDT) on Binance, giving you the option to keep your funds cryptocurrency wallet guide invested in cryptocurrency if you so desire. Gaming tokens and metaverse coins are the next big thing in the cryptomarket. In this article, we will shed some light on the ENJ coin or Enjin coin and everything about it you need to know before investing.
The ENJ token is one of the most sought-after cryptocurrencies in the market, and it’s listed on almost all major centralized and decentralized exchanges. In 2017, the company incorporated blockchain technology into its functioning by conducting its first ICO that raised $18.9 million. The cryptocurrency Enjin (ENJ) came to life through the ICO and was created on the Ethereum blockchain. However, it dates back to 2009, when its gaming community platform was launched. Enjin is an Ethereum-based ecosystem that provides developers with the capability to create and manage digital assets.
Irrespective of the option you choose to go with, you should always prioritize the safety of your Enjin coins at all times. From the above, it is clear that choosing a regulated broker to buy your Enjin tokens is the preferable way to go. This is because it helps you hedge your risk in buying Enjin since you get to enjoy some form of protection while doing so. More importantly, you get to have peace of mind throughout the entire procedure. Crypto asset investing is highly volatile and unregulated in some EU countries. The protocol was founded in 2009, and over the decade, its ecosystem has attracted over 20 million users.
Enjin’s primary functionality is the ability for users to create and manage virtual goods. It also has other functions while lowering transaction costs and improving user experience by removing the complexity of the network before creating a digital asset. Additionally, gamers can launch their token backed by Enjin Coin, which simplifies integrating crypto into gaming systems. However, keep in mind that cryptocurrencies aren’t regulated and are highly volatile.
