How to Buy Enjin Coin
Enjin Coin Price in USD: Convert to US Dollar
Enjin Coin is a cryptocurrency created by Enjin in 2017. The coin is used for NFT transactions: players can trade items of game universes with its help.
In this article, we will tell you about the Enjin (ENJ) coin and how and where to buy it.
What is Enjin Coin
Enjin is an ecosystem that allows you to create and run NFT games on the blockchain. The platform and its tools are completely free with one condition: ENJ tokens are required to mint NFTs.
To create virtual items, developers must lock ENJ in a smart contract, what gives a value to the item. When a player purchases these items, they can use them in games, trade them, or sell them for ENJ according to their original cost. When selling, the item is destroyed, and the ENJ locked in the smart contract transferred to the seller.
Enjin Coin is an native token of the ecosystem that use ERC-20 standard and is powered by Ethereum. The goal of the project is to make ENJ a coin used by the entire online gaming community and to make transfer of virtual assets between platforms easier.
Where to buy Enjin Coin
Enjin can be bought on many trading platforms. The list of available platforms is presented on sites like CoinMarketCap and СoinGecko. In addition to exchanges, you can buy a coin through payment services, banks (for example, Revolut), etc. The most profitable way to do it is cryptocurrency exchanges.
Advantages of buying cryptocurrency on the exchange:
- Best course;
- High liquidity;
- Security and reliability;
- Many payment services (including buying by fiat).
Instructions for buying Enjin Coin
A brief guide to buying Enjin Coin for beginners consists of the following steps.
Decide on the level of risk
Investments in any cryptocurrencies are associated with risk due to the high market volatility and the complexity of its forecasting. Therefore, before buying digital assets, you should determine the level of risk possible for you. We also advise you to adhere to the recommendation not to buy cryptocurrency with the last money and funds that you cannot afford to lose.
Choose a crypto exchange
There are many exchanges for trading cryptocurrencies. Each of them offers its own working conditions (verification requirements, number of trading pairs, deposit methods, commissions and limits, security features, etc.). In addition to these parameters, you should also study user reviews about the selected trading platform on forums and specialized sites.
The best exchanges for buying ENJ are presented in the table:
Register the account
You can trade on the exchange immediately after registration. Consider creating a new account on the example of OKX exchange (but you can choose another one where the coin is traded). To do this, follow these steps:
- Open official OKX website and click Sign Up in the upper right corner;
- Enter e-mail, password, referral code (if any) and click Sign Up at the bottom of the form;
- Enter the code you got on email → Next;
- After registration is completed, the system will automatically redirect you to your personal account.
On OKX you can trade without verification, but passing it gives you higher withdrawal limits (500 BTC) and more trading opportunities.
Top up your account
Deposit replenishment methods depend on the conditions of a particular exchange. You also need to consider in which pairs the desired cryptocurrency is traded. On the OKX exchange, the ENJ cryptocurrency is available in a pairs with BTC and USDT. For example, let’s replenish the account in USDT:
- Login to your personal account → Assets → Deposit;
- Select USDT → network → Continue;
- Select general or trading account, then wallet address and QR code;
- Copy USDT wallet address or scan the QR code;
- Open the wallet from which the deposit will be topped up → select USDT → Send;
- Check if USDT is in your exchange account.
Buy Enjin Coin (ENJ)
To buy ENJ in the spot market on OKX, do the following:
- Open personal account;
- Select Trade → Basic Trading;
- Enter ENJ in the search bar and select trading pair, for example, ENJ/USDT;
- Select order type, e.g. Market;
- Specify the number of coins that you’re planning to buy;
- Press Buy ENJ.
How to sell Enjin Coin
When selling ENJ, the process is not particularly different. Just specify number of coins for sale in the right side of the screen, and click Sell ENJ.
Where to store ENJ
To store the Enjin coin you need to find an Ethereum wallet compatible with ERC-20 tokens. If you already have a wallet, you should check if it supports this standard.
For short-term storage and frequent transactions with cryptocurrency, it is better to use mobile or desktop wallet. These wallets are classified as “hot”, as they are always connected to the Internet. Therefore, when using them, you should always remember about security: set up two-factor authentication, create a strong password, and so on. Among mobile wallets with Enjin support we highlight:
For long-term storage it is better to use a cold hardware wallet, eg. Ledger. These vaults are the most secure because they are not connected to the internet and the private keys never leave the device.
How to withdraw Enjin Coin to my wallet?
ENJ can be withdrawn to any crypto wallet that supports the coin. For example, let’s show how to withdraw ENJ from OKX to Exodus. For this:
- Log into your personal OKX account;
- Open Assets → Withdraws;
- Select ENJ → Network → Continue;
- Open Exodus wallet, select ENJ → Receive;
- Copy ENJ wallet address;
- Insert the received ENJ wallet address into the corresponding field on the exchange, specify the number of coins to withdraw → Continue;
- Enter password to access funds and SMS code (if 2FA is enabled) → Confirm;
- Check the receipt of funds to the Exodus wallet.
- Select the exchange;
- Pass registration and verification (if necessary);
- Put the desired amount of money to your account;
- Open trading terminal;
- Specify currency pair, for example, ENJ/USDT;
- Set order type, e.g. Market;
- Enter the number of coins you are going to buy;
- Press Buy ENJ;
- Check the receipt of cryptocurrency on the account.