Chiliz Crypto: CHZ Price Analysis and Review
Crypto converter Chiliz (CHZ)
CHZChiliz
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TRYTurkish LiraChiliz (CHZ) is the token of the Socios.com platform, designed to reward and connect professional sports organizations with their fans.
The Socios.com platform has provided a new way for fans to connect with teams by monetizing their interactions. Users can exchange tokens to show support to their favorite teams. In this way, Socios.com helps clubs and teams to increase fan engagement and unlock new sources of income.
In March 2022, company announced a partnership with one of the greatest football players, Lionel Messi from Argentina. Since the announcement, the platform’s native token has attracted significant public attention and has risen in price by 30%.
The coin is traded on most platforms. Today we will consider the main way to buy CHZ using the example of the Binance exchange and outline other ways to buy it.
What is Chiliz
Chiliz powers the Socios.com platform, the first blockchain-based platform for direct interaction between fans and the teams they support. Fans can buy and sell fan tokens, thereby taking part in club surveys, voting and influencing the decision-making process.
In addition, the CHZ token is the underlying asset of the entire Chiliz blockchain, and is used for all transactions. Including the exchange of tokens on Chiliz crypto exchange.
Where to buy Chiliz
Chiliz Coin is traded on various platforms, so buying it is not difficult. Cryptocurrency exchange, exchanger, payment system, bank like Revolut – choose any of the available methods.
Chiliz buying instructions
As we have already determined, the most profitable way to buy Chiliz is a cryptocurrency exchange. Step-by-step instructions for buying CHZ coins are below.
Decide on the level of risk
Due to excessive market volatility, investing in cryptocurrency is highly risky. And before investing money, you need to determine the level of risk for yourself. Before buying CHZ, like any other digital currency, follow the basic investment rules:
- Don’t buy cryptocurrency with all your money;
- Never invest your last money;
- Determine in advance how much you can afford to lose.
Choose a crypto exchange
One cryptocurrency exchange differs from another in the conditions that it offers to users. The parameters can be different: verification, commissions, deposit and withdrawal limits, trading terminal capabilities and so on. It is also important to read real user reviews to protect yourself from scammers.
Reliable and proven exchanges for buying Chiliz cryptocurrency:
Register an account
Let’s consider how to buy Chiliz using the example of the top exchange in terms of trading volume Binance. In addition to Binance, there are many other platforms, and you can choose any one that meets your needs.
If you are a new user on Binance, you will first need to create an account. For this:
- Open Binance official site;
- Click on Register in the upper right corner,;
Starting registration on the Binance exchange - Enter e-mail or phone number;
- Creating a complex password;
- Click Create Account.
As you can see, opening an account with Binance is easy.
Top up your account
Depending on the chosen exchange, you can choose the most convenient method of replenishment. Some exchanges only support deposits in cryptocurrencies, while others allow fiat deposits. Therefore, firstly we look at the list of trading pairs on this exchange with the coin we need, and choose one of available.
On Binance, Chiliz is traded against the Euro. So to make a EUR deposit:
- Click Wallet → select Fiat and Spot in your personal account in the upper right corner;
Depositting on Binance - In the search bar, find EUR;
- Select the Deposit option;
Depositing EUR on Binance - On the next opened page, select Recharge method, for example, Bank Card → Continue;
Payment options for a EUR deposit - Enter the amount of currency, write down the card information and make the transfer.
Buy Chiliz (CHZ)
To buy Chiliz for Euro follow this:
- Select Trade → Spot from the menu in your personal account;
Trading on the Binance spot market - Enter CHZ/EUR in the trading pair selection section;
Trading CHZ/EUR on the Binance spot market - Create an order to buy CHZ for EUR: select order type, for example, Market;
- In the Total column, specify the amount of payment currency to buy CHZ coins;
- Click Buy CHZ.
An order to buy CHZ by EUR on Binance
How to sell Chiliz
To sell Chiliz on the Binance Spot Market:
- Click Trade → select Spot;
Trading on the Binance spot market - Enter CHZ/EUR in the trading pair selection section ;
Trading CHZ/EUR on the Binance spot market - Create order to sell CHZ: select order type, for example, Market;
- In the Total column, specify the amount of payment currency to sell CHZ coins;
- Press Sell CHZ.
Order to sell CHZ for EUR on Binance
Where to store CHZ
You can use the “cold” or “hot” wallet to store your coins. The choice of storage type depends on what you will do with crypto assets. If you plan to actively trade, then a “hot” wallet will provide quick access to assets. This is a less secure storage method, but more convenient if you need to use coins frequently. Among this type of storage, we feature the mobile wallet Trust Wallet (the official wallet of the Binance exchange) and the multifunctional Atomic Wallet.
If you don’t plan to actively trade and are looking for a safe place to store your coins, then get a cold wallet. It doesn’t have a permanent internet connection, so it provides a higher level of funds protection. A popular wallet of this type is Ledger.
How to withdraw Chiliz to my wallet?
Let’s see how to withdraw CHZ coins from the Binance to a hot wallet TrustWallet. For this:
- Select Wallet → Fiat and Spot in your personal account,;
- Select Withdraw;
- In the Coin section, specify СHZ as the currency that will be withdrawn from the exchange;
- Specify wallet address in the Address section for CHZ coins withdrawal. To get one go to the Trust Wallet installed on your smartphone;
Withdraw form - Go to TrustWallet and select Receive;
Getting coins to Trust Wallet - Enter Chiliz In the search bar and select the transaction network (Chiliz BEP2 or Chiliz ERC20);
- The system will generate an address for transferring CHZ: copy it and paste on the Binance exchange in the Address field;
Getting address for receiving CHZ - Select the transfer network on the exchange, specify the number of coins to be transferred and confirm the transaction.
Withdraw CHZ from Binance to Trust Wallet
FAQ
