How to Buy Enjin in 2020: Buy, Sell & Trade

Enjin brings blockchain to the gaming community and tech-savvy traders are keeping a close eye on the Enjin cryptocurrency. This guide will show you how to buy and trade Enjin in 2020.

Where to Enjin coin

Read on to find out more about Enjin in 2020 or skip ahead to our step-by-step buyers guide if you’re up to speed and ready to invest.

Binance
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Min Deposit
€1
Russian Federation
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Top Coins
  • Bitcoin
Payment Methods
Cryptocurrencies
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
eToro
Key Features
Access the world’s most popular Crypto assets including Bitcoin
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options
Min Deposit
€200
Russian Federation
Key Features
Access the world’s most popular Crypto assets including Bitcoin
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options
Top Coins
  • NEO
  • Cardano
  • Bitcoin
  • Stellar
  • Ripple
Payment Methods
Credit Card, Debit Card, Wire Transfer, PayPal, Skrill, Neteller, Yandex, WebMoney, UnionPay, MoneyGram
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, Crypto, ETF’s, indices and commodities. eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
eToro is a multi-asset platform which offers CFD and non CFD products. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Bitpanda
Key Features
Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners
Min Deposit
€1
Russian Federation
Key Features
Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners
Top Coins
Payment Methods
Visa, Mastercard, Neteller, Skrill, Sofort, Giropay, EPS, Credit Card
BitPanda is a Bitcoin broker based in Austria. It offers a wide range of payment methods and has good prices.
Coinmama
Key Features
Safe & Secure cryptocurrency exchange
Easy Intuitive interface
Impressive limits
Liquidity Accepted in over 200 countries
Min Deposit
€60
Russian Federation
Key Features
Safe & Secure cryptocurrency exchange
Easy Intuitive interface
Impressive limits
Liquidity Accepted in over 200 countries
Top Coins
  • Bitcoin
Payment Methods
Debit Card
Coinmama is a bitcoin broker based in Israel. They specialize in selling bitcoins for credit card to nearly anyone in the world.
Coinbase
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Min Deposit
€2
Russian Federation
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Top Coins
Payment Methods
Credit Card, Debit Card, Euro Bank Account, 3d Secure Credit Card
Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market.

What is Enjin?

The Enjin suite of user-first blockchain products includes software and a cryptocurrency, both of which are aimed at games and gamers. The Enjin team tout their work as world-changing and it certainly has the potential to be big.  

Enjin is built on the Ethereum blockchain and allows developers to create their own unique in-game currency that’s backed by Enjin coins. This means the newly developed in-game coins remain bespoke while utilising all the benefits the blockchain can offer. 

How does Enjin work?

Enjin can be used to create and manage virtual goods. Think in-game purchases of weapons, skins and other useful items, but that’s not all it does. Enjin also has smart contract capabilities and comes with a range of features including a versatile native wallet. 

Each asset is logged on a single registry and all Enjin Smart Wallets recognise them. This connects games and gaming communities and allows for the platform-to-platform transfer of assets within this ecosystem. 

How to buy Enjin online – step-by-step guide

Step 1. Get a suitable wallet

Whether you buy or win your Enjin coins, you’ll need a place to keep them and that place is the Enjin Smart Wallet. Built by the developers at Enjin, this wallet is multi-purpose and supports a host of other coins too. 

The Enjin wallet is proudly ad and tracker free and is highly secure too, so your funds will be safe. To maximise security, the app uses dual encryption and an in-app keyboard to foil any keylogging or data sniffing attempts.

You can use your Enjin wallet when you’re on the move too as it’s mobile-ready and available as a download from Google Play or the App Store. 

Step 2. Find an Enjin exchange

Once you’ve got your Enjin wallet set up you’ll want to find an exchange so you can stock up on Enjin coins. There are several viable options out there, but it’s always worth checking a couple out before you commit. Here are two of our top Enjin supporting exchanges: 

  • Binance: Always one to keep in mind when buying cryptocurrency, Binance is simple to use, supports loads of coins and has a great track record. 
  • Coinswitch: Another great option if you’re looking to get stocked up quickly and efficiently. The easy-to-use interface will help you fill your Enjin wallet in no time. 

Step 3. Withdraw your Enjin

We’ll never get tired of saying this: Don’t leave your funds on the exchange after you’ve paid for them. It’s much safer to store them in your digital wallet. 

How to trade Enjin – step-by-step guide

If you want to trade rather than buy cryptocurrencies to own, you don’t really need to set up a wallet as you’ll only be speculating on the value. 

Step 1. Find a broker

There are plenty of reputable brokers offering cryptocurrency trading these days, so you won’t be hard pushed to find one that suits your needs, although it’s a good idea to try a couple out if you have the time. 

Some brokers are better for inexperienced traders just starting out and some are more suitable for experienced traders who have been in the game a while. Two of our favourite brokers right now are eToro and Plus500 

Step 2. Deposit money

Once you know which broker you’re going with, the next thing you need to do is put down a deposit. Deposits are usually in the region of one or two hundred dollars so nothing that will worry a serious trader. 

When the money is in your broker account, we suggest you don’t jump straight in, but take a while to familiarise yourself with the platform by using the demo mode. Regardless of your experience, it’s easy to win and lose money quickly when you’re trading on cryptocurrencies. 

Step 3. Decide how you’d like to trade

As you’ll see as soon as you open your demo account, there are actually two ways to trade on cryptocurrencies. These are Spread Betting and CFDs (Contract for Difference). One could be forgiven for thinking these are pretty much the same as whichever you choose, you’ll have to make a call on whether you think the value of your chosen cryptocurrency will go up or down. If you’re not sure which method you’d like to try or you want to know more about the differences between the two, it’s worth doing some extra research. 

Step 4. Start trading

Trading on cryptocurrencies isn’t too difficult to get into and once you’ve had a look around your broker platform you can make your first trade. This will entail thinking about the value of your cryptocurrency and either taking a long (buy) position if you think it will rise or a short (sell) position if you think it will fall. 

Depending on your level of expertise and the broker you have chosen, you may also be able to add leveraged trades to your strategy. The way leveraged trading works is that you only put down a fraction of what the trade is worth and your broker covers the rest. This is not for everyone as the potential for big wins and losses can make for a nerve-racking experience. Traders who have been in the game for a while use stops to mitigate some of the risk. 

Still undecided?

Pros of Enjin
  • As Enjin coins can get locked inside games, demand and therefore value can increase
  • Enjin could potentially be used by game devs to entice crowdfunding
  • Enjin comes complete with a fully functioning secure digital wallet
Cons of Enjin
  • There’s still some doubt in the gaming industry about whether Enjin will work
  • While Enjin is steadily being adopted, it’s still a relatively new coin
  • Although scalability solutions will be put in place soon, right now the Ethereum blockchain is already under pressure and slowed down by high demand
By Harry Atkins
Harry joined us in 2019 to lead our Editorial Team. Drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the finance sector encompasses work for high street and investment banks, insurance companies and trading platforms.

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