Enjin (ENJ) - All you need to know
Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >
Ways to invest in Enjin
You can sign up with a cryptocurrency broker or a cryptocurrency exchange to get started. Before you do so, make sure you research the platform because Enjin coin isn’t universally supported.
You can use a crypto app, an investment trust, or other methods, though the most popular way to gain exposure to the price of Enjin coin is by using contracts for difference (CFDs). The links below take you to individual pages which show you how to navigate the process of getting your own coins.
What is Enjin?
Enjin is a platform for transforming virtual gaming goods into digital assets that can be traded. You can turn anything in your gaming inventory into an asset-backed by the Enjin cryptocurrency (ENJ) and sell it. Each asset and a history of its ownership is stored on the blockchain so it can always be verified.
Formed in 2017, Enjin is like a hybrid of a virtual stock exchange and gaming development software. Developers can build games full of assets on Enjin, so a game can have its own cryptocurrency or rewards scheme backed by ENJ, or it can be somewhere for a player to sell off rare items and make money from the hours they put in.
How does Enjin work?
Enjin works by binding a virtual item together with some of its cryptocurrency to create a digital token. This information is stored in a contract that is added to its blockchain, where it stands as verifiable proof that the asset exists and tells you who owns it. Whenever it’s bought or sold, a new transaction is added to the blockchain.
One of the defining features of the Enjin platform is that when you get your hands on an in-game item, you own it. The gaming company doesn’t own it and you don’t just own it in the game, you own a tangible asset that you can decide what to do with.
How to invest in Enjin
There are many different ways to invest, and your usage of them should vary depending on your own financial goals and the intended timeframe of your investment. Here are some of the most popular methods you can use:
- Trading coins with a broker. It is easy and convenient to get crypto coins through an online broker. Choose a platform that is reliable and has low trading fees; our reviews can help you make a decision.
- Buying coins on an exchange. A cryptocurrency exchange is perhaps the most popular way to get coins. It is a simple and accessible way to start buying Enjin now, and most exchanges allow you to use fiat money like GBP or USD, or even another crypto, such as Bitcoin.
- Cryptocurrency trusts. These are closed-end investments that are UK-based, and they allow you to hold numerous different assets. As cryptocurrencies become an increasingly common component of investment portfolios, Enjin could be added to more. Keep your eyes peeled for a trust that includes Enjin Coin.
- Debit cards. You can use crypto to make purchases online or in-person using a crypto debit or credit card, and this technology is gradually becoming cheaper and more efficient.
- Cryptocurrency apps. Buying and trading Enjin coin is made easy by cryptocurrency apps. Given the multitude available, it is highly likely you can find an app that satisfies your needs, regardless of if you are inexperienced or a crypto virtuoso.
- Crypto wallets. These allow you to store your Enjin Coin safely and securely, and they can be online or in a physical hard disk format.
Where can I buy Enjin coin now?
Latest Enjin coin price analysis
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >