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What Is Enjin Coin and How to Buy ENJ?

2023-06-01 09:27:45

A few platforms allow Individuals and businesses to quickly and easily generate unique tokens and digital assets, which they can then trade, distribute, and manage. 

Enjin is one of those platforms.

Let’s learn more about Enjin.

What Is the Enjin Platform?

Enjin is Eth-based software that allows developers and programmers to create and manage digital assets and items.

Enjin aims to reduce high costs and hacks related to digital in-game items. They want to achieve this by using blockchain technology.

To achieve this goal, the team behind Enjin has created and distributed SDKs. These kits enable the users to create digital assets and integrate them into games and applications.

What Is ENJ Coin (ENJ)?

Enjin has millions of users, and there are thousands of communities around it. Enjin Coin is the native currency of Enjin Network and is based on Ethereum. 

Game developers can tokenize digital assets (such as NFTs) that have value in the real world thanks to the tools provided by the Enjin Network. These digital assets are backed by Enjin Coin (ENJ). Users can acquire, store, and use these one-of-a-kind assets within games on the Enjin platform, and any businesses that want to produce in-game items can do so with the help of Enjin.

The current trading price of ENJ is $0.3392. The total market cap is around 339.66 million, and the total supply of ENJ is 1 billion.

History of Enjin

Enjin is a community gaming platform initially established in 2009 by CEO/Creative Director Maxim Blagov and CTO Witek Radomski. Currently, Enjin is heading one of the world's largest cryptocurrency and NFT projects. After raising $18.9 million in an initial coin offering (ICO) in 2017, the company launched $ENJ the following year in 2018. Enjin, which has its headquarters in Singapore, assists businesses in deploying intelligent digital solutions.

Features of Enjin (ENJ)

We have already talked about what Enjin is and its history. Now in this section, we’ll talk about its features and potential benefits.

Affordable

In contrast to Bitcoin and Ethereum, ENJ maintains a price point accessible to a large majority of potential investors. (For further information on the cost, see the following section.)

Large Community

Enjin already offers fully functional and integrated marketplaces, which attract many users. The fact that it has gained such widespread acceptance could be interpreted as evidence that it will only go partially overnight.

Creating In-game Items

Creating, managing, and destroying in-game things are all possible with ENJ's help. Enjin Coin can be used as collateral for issuing specialized tokens, one-of-a-kind items, and privilege tokens by developers. Users of certain exchanges cannot only deposit ENJ but also earn interest on it.

Exchange Platform

Loyalty reward programs use Enjin as their exchange platform. NFTs, for instance, come with loyalty points due to the company's collaboration with BMW. These points can be redeemed for other things, such as petrol, parking fees, road tolls, or even ENJ.

SDKs and APIs

The Enjin team has developed several software development kits (SDKs) to make these functionalities possible. These kits include ones that are centered on wallets and transaction platforms. (These software development kits (SDKs) offer standard functionalities for generating virtual items, which helps lower the cost of making these items and the difficulty of doing so.)

Enjin has produced application programming interfaces (APIs), in addition to software development kits (SDKs), to aid with implementing these components within games.

What Makes Enjin (ENJ) Unique?

The most common use case of ENJ is in NFTs. It is used for buying, selling, and trading non-fungible tokens (NFTs).

In addition, ENJ can also be traded on different crypto exchanges for trading purposes. There are many investors out there doing spot and futures trading on this coin and getting significant returns. 

Additionally, it works with many other game mechanisms. Using ENJ, players can collect and save unique tokens that can be redeemed for in-game items like characters and accessories. This feature was developed with the maximum amount of use cases in the gaming industry in mind.

Through the use of the Enjin wallet, users have the ability to gain access to a variety of partner gaming platforms, maintain a record of their various tokens or collectibles, and sell their digital assets in exchange for ENJ at any time that is convenient for them.

ENJ News and Update

A new NFT marketplace has been launched on the Ejin network named ‘NFT.io’. It was launched earlier this month. Its purpose is to make a streamlined market available to users to purchase and sell digital currencies more quickly and at a lower cost.

People can also mint their NFTs within a few minutes because of the platform's capabilities. Its NFTs are cross-chain, indicating they are compatible with other blockchains like Ethereum and Solana. It is also home to metaverse games that are interoperable with one another.

The beta version of NFT.io is only available to a select group of individuals who will test the platform before it is made available to the general public.

How to Buy ENJ Tokens?

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including ENJ, users can now trade easily and seamlessly. To purchase ENJ tokens on CoinEx, follow the steps below.

If you already have a CoinEx account, this is how to purchase and sell ENJ on CoinEx:

  • To access your CoinEx account, visit the website or launch the app and enter your email and password.
  • Put funds in your account to make ENJ purchases. You can deposit the funds via bank transfer, credit card, etc.
  • Once you have funds in your account, you may buy ENJ by going to the ENJ trading page and choosing the trading pair you wish to use.
  • Tokens (USDT, BTC, ETH, and CET, etc.) can be exchanged for ENJ. Put in your order and the quantity you want to buy.
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