How to Buy Chiliz

Chiliz (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.

One of the first to join Chiliz was the legendary Italian Juventus FC.

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 (CHZ) is a cryptocurrency on the Ethereum (ERC-20) blockchain compatible with Binance chain (BEP-2).

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 is profitable to buy on the exchange due to several factors. First is the best rate: the exchange always offers the most profitable quotes. Second, it provides a high level of liquidity of traded assets. Third, different payment methods are available (bank transfer, card, p2p, etc.). Moreover, on the exchange you can buy cryptocurrencies for fiat money, including dollars, euros, etc.

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:

Exchange

Website

BTC trading volume, 24h

1

WhiteBIT

whitebit.com

BTC trading volume, 24h

79.68

2

Binance

www.binance.com

BTC trading volume, 24h

77.43

3

OKX

www.okx.com

BTC trading volume, 24h

52.15

4

HTX

www.huobi.com

BTC trading volume, 24h

36.51

5

CoinW

www.coinw.com

BTC trading volume, 24h

11.17

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.

Read also: Rating of the best cryptocurrency exchanges.

If you are a new user on Binance, you will first need to create an account. For this:

1. Open Binance official site;
2. Click on Register in the upper right corner,;
   

   

3. Enter e-mail or phone number;
4. Creating a complex password;
5. Click Create Account.

As you can see, opening an account with Binance is easy.

For detailed instructions, read Binance exchange review on our website.

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:

1. Click Wallet → select Fiat and Spot in your personal account in the upper right corner;
   

   

2. In the search bar, find EUR;
3. Select the Deposit option;
   

   

4. On the next opened page, select Recharge method, for example, Bank Card → Continue;
   

   

5. Enter the amount of currency, write down the card information and make the transfer.

Buy Chiliz (CHZ)

To buy Chiliz for Euro follow this:

1. Select Trade → Spot from the menu in your personal account;
   

   

2. Enter CHZ/EUR in the trading pair selection section;
   

   

3. Create an order to buy CHZ for EUR: select order type, for example, Market;
4. In the Total column, specify the amount of payment currency to buy CHZ coins;
5. Click Buy CHZ.
   

   

How to sell Chiliz

To sell Chiliz on the Binance Spot Market:

1. Click Trade → select Spot;
   

   

2. Enter CHZ/EUR in the trading pair selection section ;
   

   

3. Create order to sell CHZ: select order type, for example, Market;
4. In the Total column, specify the amount of payment currency to sell CHZ coins;
5. Press Sell CHZ.
   

   

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.

When using hot wallets, it is important to use a strong password and enable two-factor authentication.

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.

Read also: Top of the best crypto wallets.

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:

1. Select Wallet → Fiat and Spot in your personal account,;
2. Select Withdraw;
3. In the Coin section, specify СHZ as the currency that will be withdrawn from the exchange;
4. Specify wallet address in the Address section for CHZ coins withdrawal. To get one go to the Trust Wallet installed on your smartphone;
   

   

5. Go to TrustWallet and select Receive;
   

   

6. Enter Chiliz In the search bar and select the transaction network (Chiliz BEP2 or Chiliz ERC20);
7. The system will generate an address for transferring CHZ: copy it and paste on the Binance exchange in the Address field;
   

   

8. Select the transfer network on the exchange, specify the number of coins to be transferred and confirm the transaction.
   

   

FAQ

What is Chiliz (CHZ)?
Chiliz (CHZ) is the cryptocurrency behind the Socios.com blockchain platform designed to reward and connect professional sports organizations with their fans.
Where to buy Chiliz?
Chiliz cryptocurrency can be bought in different ways: on cryptocurrency exchanges, through digital payment systems, etc. It is most profitable to buy cryptocurrency is on the stock exchange: here the best exchange rate, high liquidity and security level.
When is the best time to buy Chiliz?
The best time to buy any currency can be determined by as a result of fundamental and technical analysis data. If you do not have these skills, then spend more time studying the markets and trading strategies of successful traders.
Should I buy Chiliz?
Blockchain technology is increasingly being introduced into the sports industry, and fan tokens like Chiliz are likely to gain popularity among all types of fans.
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Agatha Redich
Articles author, editor

Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
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Emil Rabin
Site expert

Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the TGDRatings.com portal since 2022.
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