Are you looking at investing in Enjin Coin? Enjin is one of the fastest-growing projects in the crypto space, thanks to its utility for the gaming industry. Enjin coin adds real value to the gaming industry, supporting more than 300,000 gaming communities and over 20 million registered gamers.
Founded in 2009, Enjin was an innovator right from its inception. The platform enabled gamers to build websites dedicated to their guilds and clans. With the functionality to create forums, add wikis, and more, Enjin was a go-to staple in every gamer’s toolbox.
However, it wasn’t until 2017, when Enjin launched its ICO, that the company took on a whole new approach to gaming. The shift to web 3.0 by the gaming community was becoming apparent, and Enjin was at the forefront of this change.
With such a valuable project under development, and much of the roadmap left to journey, is Enjin Coin (ENJ) worth adding to your portfolio? Let’s take a deep dive into how to buy the Enjin Token (ENJ) and we’ll also take a look at what you can expect from this digital asset.
Where to Enjin Coin ENJ
This section is our top picks of where and how to buy the Enjin Coin ENJ Crypto token. We chose these based on our experience of using them and considered fees, security, payment options and reputation.
- Uphold: Great Exchange for Newbies & Advanced Users
- Binance: Largest Crypto Exchange with Low Fees
- Coinbase: Highly Regarded and Easy to Use for Beginners
- Kraken: Highly Regarded and Easy to Use for Beginners
Visit The Top Pick
Uphold: Great For Buying & Selling Multiple Cryptos
Uphold is a comprehensive digital financial services platform catering to a worldwide audience, operating in over 184 countries and supporting over 200 traditional and cryptocurrency assets as well as commodities. Through seamless foreign exchange and cross-border remittance solutions, Uphold has facilitated over US$4 billion in transactions since its inception in 2015.
As a multi-asset platform, Uphold offers a distinct "Anything-to-Anything" trading experience, allowing users to effortlessly exchange between various asset classes. With integrated payment solutions, Uphold paves the way for universal access to financial services.
Founded on a robust framework of proprietary technologies and e-money applications, Uphold is dedicated to promoting a future where individuals and businesses globally can benefit from secure, transparent, equitable, and cost-effective financial services.
Pros
- 50+ Cryptocurrencies
- Easy to Use - Single Click Trading
- iOS & Android App
- Transparent Fees
- Well Regulated
Cons
- No Volume Discounts
Binance: Largest Crypto Exchange
Binance is the biggest cryptocurrency exchange in terms of daily trade volumes. Cryptocurrency investors can enjoy full access to trade over 600 crypto assets, including big movers like Bitcoin, Ethereum, and most of the top cryptos. With a minimum deposit of $10, investors can instantly start investing their crypto of choice.
Besides its large inventory of crypto assets, Binance also offers the lowest trade fees in the market. Binance charges 0.1% on all trades, and there’s an option for this figure to be further discounted by 25% for investors who hold Binance Coin – the exchange’s native token.
Funding your Binance account is seamless and straightforward. The exchange supports several deposit channels, including bank wire transfers, peer-to-peer (P2P) payments, credit/debit cards, and payment processors.
However, unlike eToro – deposits are not always free. For instance, Binance charges customers a standard fee of up to 4.50% on all crypto purchases made with debit/credit cards. Crypto deposits, on the other hand, are free.
This popular crypto exchange features a detailed learning curve and advanced trading tools, making it more suited for well-experienced traders and not beginners.
In terms of security, Binance offers the best security integrations. This broker features two-factor authentication (2FA), whitelisting, and advanced data encryption to protect customer funds and data. Also, Binance utilizes cold storage to store a vast majority of its funds, and the exchange also operates an insurance fund that protects customers in the event of an attack.
Pros
- Lowest trading fees in the market
- High liquidity on most cryptos
- Advanced trading tools
- Large crypto inventory
- Wide range of deposit channels
Cons
- Not beginner-friendly
Coinbase: Simple & Easy for Beginners
Coinbase is another great alternative best suited for newbie investors keen to learn how to buy this crypto. This platform is known for its reputation and simplified trading features.
The US-based platform allows investors to purchase, trade, and stake over 10,000 supported blockchain-based assets. To begin investing, investors must first register an account, which takes around 10 minutes. Coinbase allows users to invest a minimum investment of $2, which is one of the lowest prices in the crypto industry.
This exchange also integrates seamless deposit channels, like wire transfer, crypto deposits, debit/credit card, and e-wallet solutions, as well as fiat currencies like USD, GBP, and EUR available for cash out. Coinbase charges a standard fee of up to 3.99% for all debit card crypto purchases. However, investors enjoy 4% cash back bonuses whenever a Coinbase debit card is used to purchase crypto assets.
In terms of trading fees, users are charged between 0.5% and 4.5%, depending on the selected payment method, type of cryptocurrency, and total transaction amount.
One of the standout features that distinguishes Coinbase from other brokers is its versatility in terms of services and products offered to retail and institutional investors, ranging from exchange-based wallet and cashback visa cards, staking passive income, and asset hubs.
For security, the US-based exchange integrates 2FA verification as an added security layer to investors’ usernames and passwords, crime insurance that secures digital assets from theft and fraud, and many more. Coinbase is also licensed and regulated by top financial agencies like the Securities and Exchange Commission (SEC), Financial Conduct Authority (FCA), New York State Department of Financial Services (NYSDFS), and Financial Crimes and Enforcement Network (FinCEN),
Pros
- Simplifies trading tools, perfect for beginners
- Wide selection of crypto assets
- Lowest minimum deposit in the industry
- Offers Coinbase debit card with 4% cashback bonuses
Cons
- High fees (and usually, a complex and unclear fee structure)
Kraken: A Leading & Well Regarded Exchange
Kraken is one of the longest established exchanges with an excellent reputation for security and integrity.
Started back in 2011 they have built a great reputation among traders and beginners alike and offer high liquidity and lots of different cryptocurrency listings.
Kraken is trusted by some of the largest institutions and traders around the world and can handle high volume trading with ease.
They have lots of coin pairs to trade and also offer withdrawals back to fiat in your currency of choice.
We have no hesitation in recommending Kraken for your trading needs.
Pros
- High Liquidity
- Great Reputation
- Well Established
- Easy to Use
- Fiat Options
Cons
- The KYC process can take a little while
What is Enjin Coin?
So, what is Enjin? It’s a digital ecosystem that streamlines the development and management of NFT-powered blockchain games. The Enjin platform allows developers to focus on building the game by simplifying the use of blockchain tech in the process.
Enjin offers an end-to-end suite of user tools gamers and developers use to streamline and simplify the blockchain game development process. These software development kits (SDKs) allow users to easily build and integrate items into apps or games, with no complicated processes involved.
The Enjin Network operates on the Ethereum blockchain, leveraging its security while avoiding paying high-gas fees on its user transactions. Its scaling solution ‘JumpNet’ assists with mitigating costs to Enjin users while offering all its SDKs and user tools for free. Some tools may require users to pay ENJ tokens for minting NFT assets.
However, providing these user tools allows Enjin to create a robust ecosystem. It connects its community of gamers, devs, and studios through its native platform token, Enjin Coin (ENJ). Enjin coin is an ERC-20 token built on the Ethereum network. As a result, users benefit from implementing ‘smart contract’ technology in their design and development process.
What are the Use Cases for Enjin Coin?
One of the most important aspects of Enjin-based gaming protocols is its reliance on the Ethereum Network. As a result, it benefits from its security and reputation, helping gamers avoid the rampant fraud in the crypto asset space and the transfer of virtual goods.
Enjin is responsible for several industry innovations and groundbreaking technology in the crypto ecosystem. It’s one of the first projects testing the capabilities of the Ethereum Raiden Network. After it goes live, experts believe it will be capable of handling millions of transactions per second.
The Enjin team plans dozens of new features for projects through its public APIs and SDKs. However, this post touches on the most interesting features of Enjin coin.
Enjin Virtual Goods
The biggest promise Enjin has for the gaming community is its ENJ token and how it applies to virtual goods in the gaming community. Developers use the Enjin suite of tools to create community-specific coins backed by Enjin Coin.
This feature adds benefit by introducing the security of the blockchain while retaining the platform’s respective branding. Items are recorded on a registry smart contract, allowing easy identification by Enjin wallets.
The wallet connects the entire ecosystem, allowing for fast and easy assert transfer on the platform. This feature becomes especially important in new game development. The blockchain will enable devs to create assets working across several game interfaces.
Enjin Efinity
Efinity is an inter-operability-focused ‘parachain‘ built on the Polkadot ecosystem. With Efinity, Enjin aims to be a decentralized cross-chain crypto protocol allowing users to bridge NFTs to the Polkadot chain.
Efinity rewards users with EFI tokens when they participate in the platform’s governance development, maintenance, adoption, and utilization activities. The Efinity parachain focuses on chain stability and core functionality, allowing minting volumes up to 2,200 tokens per transaction to separate wallets.
Efinity hopes to process up to 1,000 transactions per second (TPS) and may improve as Efinity and Polkadot optimize the runtime code. Efinity is also in the process of developing a unique token standard, ‘paratokens.’
Paratokens are tokens that move freely between different parachains in the Kusama and Polkadot ecosystems. Efinity employs a Direct Cross-Chain Message Passing (XCMP) to achieve this. This protocol completes the transfer of digital assets between parachains on Kusama and Polkadot while enabling cross-chain development for the Polkadot ecosystem.
Efinity allows devs to create and deploy smart contracts using the Ink! Framework, which is compatible with Polkadot-based chains. Among the several features offered by Efinity, there are five to note.
Efinity Cross Chain Bridge
The Efinity Cross-Chain Bridge allows users to import tokens built on other chains. Currently, Efinity only has plans for an Ethereum bridge built by Snowfork.
Efinity Fuel Tank
The Efinity Fuel Tank enables projects to subsidize transaction costs on Efinity for users. Fuel Tank addresses are another variation of a discreet account.
Projects set them up to utilize the smart contract functionality to pay transaction fees on behalf of users. EFI tokens deposited into fuel tanks are non-withdrawable. A fuel tank can whitelist specific tokens, transaction types, users, or tags.
Efinity Crafting
The Efinity Crafting feature allows users to create or modify existing tokens using a ‘Recipe.’ The recipe is a signed message that generates off-chain. Users can code Recipes to transfer, mint, burn, or melt in-game assets.
Efinity Marketplace
This comprehensive set of user tools for sellers and buyers creates and fills orders for all tokens. Unlike NFT marketplaces, the Efinity marketplace encourages fair price discovery. Specifically, users don’t have to list tokens for sale to receive bids.
The marketplace mechanics also encourage users to maintain the highest bid on tokens. The highest unfilled bid on a token receives a percentage of fees while gaining weight in the Price Discovery Pool (PDP) over time. This effect occurs with token transactions using that specific token, thereby incentivizing the price discovery process.
Efinity Discrete Accounts
These unique addresses created and operated on the parachain don’t have private keys. A discrete account address is available for use in all transactions, providing a wallet signs it with access to the discreet account.
Discrete accounts are useful for teams building on Efinity. Discrete accounts standardize the address transferring or creating assets, allowing several team members access to the discrete account to a varying degree.
A discrete account functions similarly but more securely than a discord server. A single user creates both. However, many users have access to take control.
Like a Discord server, wallet addresses created for the discrete account allow users to set permissions. The user can also designate roles, such as Owner, Admin, and Operator, to different addresses.
Game devs may use discrete accounts for new player onboarding, foregoing the need to set up a new wallet or buy additional crypto to play a game.
What Is the Enjin JumpNet?
The JumpNet is the Enjin Ethereum scaling solution utilizing private proof of authority (PoA) blockchain networks. The goal of JumpNet is to execute free transactions for users. Launched in early 2021, JumpNet saw immediate adoption from more than 50 projects within two weeks of its launch.
Users bridge ENJ tokens to JENJ (JumpNet ENJ) to access the network, with JENJ being the governance token for the JumpNet. One ENJ token backs every JENJ token created, with all existing products being compatible with JumpNet for a seamless user experience.
To ensure all transactions remain free on JumpNet, Enjin imposes limits against each network address. The last report shows the JumpNet processing limitations at 20 transactions p/minute, 240 transactions p/hour, and 2,880 transactions p/day, which are more than sufficient for average users.
However, if users require additional capacity, holding EFI tokens on JumpNet (JEFI) allows users to double their transaction limit for every 100 JEFI held by users.
Enjin Coin Support
Enjin offers full support for all ERC-1155 assets. However, its EnjinX blockchain explorer was industry-first in providing users access to this universe of digital assets.
Users can do the following.
- Browse ERC-1155 blockchain assets and collectibles.
- Search for assets by name, address, and token ID.
- Verify token authenticity and ownership.
- View all transfers, mints, melts, and token hodlers.
Enjin Smart Wallet
The Enjin Smart Wallet ties together the Enjin community. Its Smart Wallet supports all ERC-20 tokens, as well as Bitcoin, Ethereum, Litecoin, and Enjin Coin.
The wallet also supports virtual items from all Trusted Platforms, synching with your Ethereum address. You get support for all ERC-721 and ERC-1155 assets through the smart wallet, making it a versatile piece of tech. Users can trade coins and virtual items within the wallet with other Smart Wallet users.
You get support for Transaction Requests sent to other wallet holders, allowing them to confirm or deny the transaction or asset. Users can set up thresholds or rules preventing unauthorized transactions from occurring. The Enjin Smart Wallet has a security-focused design.
The Secure Keyboard in the Enjin Smart Wallet is a native part of the app. The keyboard prevents keylogging and has the functionality to set up random keys. The wallet has two layers of cryptography, with Advanced Encryption Standard at the hardware level and custom software encryption to encrypt data processing on the software side.
The wallet blocks any screenshots or recordings of the wallet at the operating system level. However, you don’t need a wallet to store your Enjin coins. ENJ is compatible with all ERC-20 wallets, such as MetaMask, MyEtherWallet, or other secure hardware wallet options.
Enjin Wallet dApp Browser
The Enjin team released the dApp browser for its Enjin Wallet in 2019, making single-click transactions a reality. Users have the following functionality with the Enjin Wallet dApp browser.
- Log in to several websites and verify asset inventory.
- Input payment details during online purchases.
- Input delivery addresses for asset purchases.
The Enjin DApp Browser allows users to sign for transactions with 100% custody over funds while enjoying enhanced security.
The Enjin Platform
The Enjin Platform is a PaaS (Platform as a Service) blockchain allowing users to create and manage blockchain game development. However, users don’t have to worry about building and maintaining any complex blockchain infrastructure or writing blockchain code.
It’s a powerful, flexible, and robust suite of user tools and services designed to assist devs with creating groundbreaking blockchain-based games. The Enjin Platform comprises four parts: Trusted Cloud, Wallet Daemon, Platform API, and Blockchain SDKs.
These tools make it easy for devs to design and develop new games while promising an easy strategy for fostering mass adoption of the Enjin development platform.
Enjin Beam
Enjin Beam is a product simplifying transfers of NFT assets on the Enjin Platform. Users receive NFTs by using their Enjin wallet to scan QR codes. The QR codes connect to smart contracts containing locked Enjin NFT assets. When scanned, it initiates the transaction.
As a result, developers can initiate airdrops for special users by displaying a QR code for a limited time. It’s a great marketing campaign tool; users can customize Beams to place restrictions or conditions on claims.
The Enjin Marketplace
The Enjin Marketplace is where users can safely and securely trade and store blockchain assets. The Enjin Marketplace promises to bring users the following experience.
- Security: No more scamming risk from rogue traders. Buy digital assets in full confidence that you’ll receive them. Sell with certainty, knowing you’ll receive compensation for your asset sales.
- Transparency: Informed decision-making for a stronger marketplace.
- Ease of use: Complete your transactions on your mobile device.
- Unified experience: Built with a UX-focused design.
- Seamless searching: Find all assets and prices in a single marketplace.
The Enjin Marketplace promises to remove the friction from trading digital assets. It promises to allow ERC-1155 token holders quick and easy listing with a few clicks. Buying digital assets from the Enjin Marketplace is also a seamless process, with users simply scanning a QR code.
How to Buy Enjin on Uphold
Looking to buy Enjin? Get started on Uphold within minutes:
Step 1: Sign Up to Uphold
Visit Uphold and hit the "Signup" button at the top right of the website.
Once the account is created, Uphold requires that users enter their personal information, including legal name and date of birth, as shown on their government documents. They’ll also need to enter their home address information and verify their phone number to finalize the process. This is a basic verification process
Step 2: Fund Your Account
Uphold offers fee-free deposits to its customers. They can deposit funds into their Uphold wallet using cryptocurrencies, debit cards, bank wire transfers, and crypto deposits. New users need additional verification to use the debit card or wire transfer options.
In the sidebar, click the "Linked Accounts" link and choose to add a card or a bank.
Enter your card or bank details.
Step 3: Buy Your Chosen Crypto
Now search for your chosen crypto to purchase, you can choose a currency to pay with, the amount and the crypto you wish to purchase.
After selecting the trading pair, click on the “preview trade” option and it will show you the trade and fees, finally click "confirm trade" to make the purchase.
