How & Where to Buy Enjin Coin (ENJ) in 2024

How to Buy Enjin Coin

You can purchase Enjin coin online using a cryptocurrency exchange. This is the easiest way to buy and sell cryptocurrencies—all you need is a computer or mobile device. See below for our top picks of platforms that offer Enjin coin and simple steps to buy Enjin coin.

1. Choose a platform

Start by finding a broker that sells ENJ. You’ll have quite a few options to choose from but it is wise to prioritise security and ease of use when making your choice. If you’re not sure where to start, just take a look at the platforms we’ve shortlisted further down this page or our top recommended ones below.

2. Create and fund your account 

Create an account on the cryptocurrency exchange or broke by filling in your details and providing any documents requested such as a photo ID or proof of address. After that, you can click deposit and select any of the supported payment options to fund your account.

3. Buy Enjin coin

Find the trading pair containing ENJ and the currency you just deposited. Now you can purchase ENJ by creating a buy order. A limit order will execute once ENJ reaches your chosen price, while a market order executes immediately at the current price.

Payment methods you can use to buy Enjin

On trading platforms, a variety of payment methods are accepted, with availability depending on the platform and location you are in. Here’s an overview of the most used payment methods: 

Paypal: One of the most widely used online payment systems available. Unfortunately, PayPal deposits and withdrawals are not accepted by many trading platforms.

Bank transfer: Bank transfers are accepted worldwide and on nearly every trading platform, and are a reliable, cheap option. If you use bank transfers for topping up your trading account, just keep in mind that transfers often take a few working days to process.

Debit or credit card: It only takes a few minutes to add money to your trading account using a card. Using your card normally comes with a modest fee, so check the fees for your chosen trading platform.

Crypto: If you already have some cryptocurrency, you should be able to trade it for Enjin on any exchange or brokerage. When trading cryptocurrencies, there is always a trading fee that comes with a cryptocurrency exchange. When swapping your crypto it’s ideal to utilise trading platforms with the lowest trading fees.

Buying vs Trading Enjin

Buying crypto without the inclination to actively trade entails buying and holding onto a crypto asset over a long period of time with the intention of selling that asset in the future to make a profit. The best investment opportunities tend to be during downtrends in the market or when the market is moving sideways for an extended period.

To make money in trading, a trader must purchase and sell a variety of assets or just one asset over a period of time. To keep up with the shifting market, trades are done quickly. Buying and holding an asset for the long term is generally considered to be low-risk and low-effort compared to trading.

How to Trade Enjin

Trading Enjin involves making money buying and selling the asset over a period of time. Technical analysis (TA) can be performed on charts to help you increase your trading earnings.

You can follow the historical Enjin chart and use TA indicators to improve your trading strategy. Volatility indicators, moving averages and parabolic stop and reverse indicators can all be used to improve your trading returns. Keeping track of Enjin news can be beneficial in the long run as the project forms new partnerships and achieves development goals.

What Is Enjin coin?

Enjin is a suite of products that allows users to create, store, and trade NFTs, with a focus on gaming. NFTs can be minted on the Enjin Platform, stored in the Enjin Wallet, and bought and sold on the Enjin Marketplace.

Enjin’s tools enable users to tokenise in-game items as NFTs on the Ethereum blockchain. This brings the advantages of blockchain to in-game items, making them secure, quick and cheap to transact, and giving them real-world value. NFTs also mean that gamers have true ownership over their items.

On the Enjin Platform, NFTs are created by locking up the project’s cryptocurrency—ENJ. This is what infuses Enjin NFTs with real-world value. The ENJ locked inside NFTs can be retrieved at any time by “melting” the NFTs.

The Enjin ecosystem also provides SDKs that allow developers to build NFT-powered projects such as websites, apps, and games.

What to Consider Before Buying Enjin

It’s important to know what a cryptocurrency project’s goals are before investing in it.

The Enjin platform can be used to help developers, businesses and individuals create and manage their own virtual assets, including NFTs, on the Ethereum blockchain. The assets created on the Enjin platform can be implemented into games and a range of applications.

Every asset created on Enjin is assigned a value in ENJ, Enjin’s native cryptocurrency. The Enjin coin can be used to purchase assets on the Enjin marketplace. It’s important to keep in mind for new users that all tokenised assets on Enjin follow the ERC-1155 standard, unlike the commonly used ERC-721. What this means is that Enjin’s assets are meant to only be used within the Enjin ecosystem.

What Features Does Enjin Have?

• Enjin Smart Wallet. Enjin’s native cryptocurrency wallet is a place for users to store their Enjin coins, tokenised assets and connect to all Enjin powered games and applications with ease. The Smart wallet also allows users to trade assets and ENJ in a peer-to-peer environment.  

• Enjin Software Development Kit (SDK). Projects can use Enjin’s development tools to implement NFTs or ENJ into their existing websites, games and applications without having to start from the ground up. The SDK allows the tokenisation of art, comic books, real estate, music and more.

• JumpNet. JumpNet is a super-fast private blockchain for Enjin that allows users to bridge their assets from Ethereum to JumpNet to take advantage of JumpNet’s zero-fee transactions, real-time marketplace and platform minter to create tokens and assets in seconds.   

Ways to Invest in Enjin coin

Some investors choose to hold onto their ENJ for a long time, while other people want to sell it as soon as possible. These approaches require different skillsets and time commitments, so which you choose is a matter of preference.

Buy and hold Enjin coin

The buy and hold strategy is easy to follow for any investor, however uninitiated. It simply involves buying ENJ and holding onto it for a while in the hope that it appreciates in value. It requires a minimal amount of time and skill.

What’s more, ENJ holders can stake their tokens in order to earn rewards in EFI, the token of Enjin coin’s cross-chain NFT blockchain Efinity.

Best Enjin coin wallets

When holding onto ENJ for a long time, it can be beneficial to set up a private wallet and take custody of your tokens yourself. This gives you full control over your ENJ and provides an extra bit of security.

Software wallets are free, often intuitive to use, and can be downloaded onto computers or mobile devices. The Enjin coin Wallet is software that can store ENJ as well as hundreds of other cryptocurrencies and NFTs. Hardware wallets such as Trezor, BitBox, and Ledger cost money but provide even better security.

Trade Enjin coin

ENJ can also be traded by buying and selling it much more frequently than investors. Trading strategies exploit ENJ’s volatility but are harder to execute than investing as timing is key, so traders may have to regularly monitor and analyse the market to find the best entry and exit points.

For traders, web wallets are likely to be the most convenient place to store their Enjin coin ENJ as it means they don’t need to regularly transfer tokens to and from their exchange. In fact, cryptocurrency exchanges usually provide their own web wallets for free. While an exchanges wallet might make it easier to buy and sell Enjin coin you should consider security, some traders prefer to keep some of their digital assets in their own private wallet to avoid issues if anything where to happen to the exchange.

Will Buying Enjin Make Me Money?

There is no guarantee that investing in Enjin will result in a profit. Whether Enjin performs well in the long term will depend on how much of the NFT market it can capture and how Enjin’s platform can stay ahead of potential competitors.

Enjin’s platform and SDK have grown in popularity since the beginning of 2021. Since then, Enjin’s price performance has been explosive with the ENJ coin’s market capitalisation reaching substantial highs. The Enjin platform is trusted by the likes of Coinmarketcap and Binance and is used behind the scenes in a range of online games.

The Enjin platform could face considerable competition from Phantasma and Xaya. Phantasma is a fast blockchain network for gaming projects and creating NFTs. On the other hand, Xaya is a platform for building and hosting decentralised video games with an easy-to-use SDK. Both projects offer similar incentives to Enjin and are based around gaming.

Pros & Cons of Buying Enjin

Your decision to invest in Enjin will depend on how you feel about the Enjin ecosystem and the use cases of the coin. To help you decide, here are some advantages and disadvantages.

Pros

• JumpNet is a great addition to the Enjin platform. Those who are stifled by Ethereum’s high transactions fees will be able to use Enjin’s private zero-fee network instead.

• Users can tokenise almost anything in existence using Enjin’s innovative platform. There are many beginner guides available and new users are encouraged to contact Enjin for assistance.

• Enjin is a part of a unique market and should be one of the top players of that market for years to come.

Cons

•  ENJ has few use cases and seems to only be used as a currency for buying assets on the Enjin marketplace.

Should I Buy Enjin Coin Now?

You will have to make this decision for yourself based on all the information you can find. There is a capped supply of ENJ, which could make it a good store of value over time. Also, minting NFTs on the Enjin ecosystem requires ENJ to be locked up, which drives demand for the token and means some of the ENJ supply has been removed from circulation. This could prove to be positive for ENJ price.

The development of Efinity could also be beneficial for ENJ. The provision of EFI staking rewards further incentivises the use of Enjin’s products and locking up ENJ to mint NFTs.

The success of the Enjin ecosystem and its ENJ token will probably be strongly influenced by the popularity of NFTs and blockchain gaming. These are industries experiencing dramatic growth and interest, as these technologies bring a range of benefits to the already huge gaming industry, such as efficiency, digital ownership, and a decentralised play-to-earn model.

Enjin already powers a number of projects, and its user-friendly range of tools and products positions it well to take advantage of the growing excitement around NFT gaming.