iTrustCapital adds Enjin (ENJ) to its crypto IRA / 401k retirement platform

By: Jinia Shawdagor
Jinia Shawdagor
Jinia is a cryptocurrency and blockchain enthusiast based in Sweden. She loves everything positive, travelling, and extracting joy and… read more.
on Jul 27, 2021
  • This addition offers the users of the ITrustCapital platform a chance to trade ENJ tax-free.
  • After adding support for ENJ, the iTrustCapital crypto IRA / 401k platform now boasts 21 cryptos.
  • Before this, Enjin became the first NFT platform to join the United Nations Global Compact.

iTrustCapital, the leading crypto IRA / 401k platform in the US, has added support for Enjin (ENJ/USD), the native token of the Enjin ecosystem. The company unveiled this news through an official announcement yesterday, noting that this addition seeks to offer investors a chance to diversify their Crypto IRA / 401k retirement accounts. With this addition, iTrustCapital now supports 21 digital assets, which include, but are not limited to, Bitcoin (BTC/USD), Ethereum (ETH/USD), Polkadot (DOT/USD), Chainlink (LINK/USD), Dogecoin (DOGE/USD), and Cardano (ADA/USD).

Users that decide to add ENJ in their Crypto IRA / 401k retirement accounts will get to trade the coin at a 1% fee and without taxation. Additionally, they will get access to high liquidity, while avoiding legal complexities because the iTrustCapital platform is IRS compliant.

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Nonetheless, the company warned that like other crypto investments, ENJ involves significant risk of loss. As such, clients should know they are responsible for any financial loss incurred while trading. iTrustCapital advised clients not to trade the coin unless they fully understand the risks involved.

ENJ surges but slips soon afterward

The ENJ market opened yesterday with the coin trading at $1.37 (£0.99) and traded as high as $1.44 (£1.04) after iTrustCapital announced its support. However, the coin failed to maintain this bullish momentum and plunged as low as $1.27 (£0.92) before closing the day trading at $1.29 (£0.93).

At the time of writing, the coin has recovered some of yesterday’s losses and is trading at $1.39 (£1.07) after gaining 1.35% over the past 24 hours. While ENJ is up 40.75% over the past seven days, it is worth noting that it is currently down 65.37% from its ATH.

This news comes as Enjin continues expanding and proving that it is more than just a gaming and non-fungible token (NFT) platform. In the past week, the United Nations Global Compact, the largest sustainability program in the world, accepted the project to join it in its efforts of making the world more sustainable.

Through this membership, Enjin became the first blockchain-based gaming and NFT platform to join the UN Global Compact. Per the Head of the UN’s Centre for AI and Robotics (UNICRI), Irakli Beridze, this partnership seeks to explore the feasibility of using the blockchain and NFTs to achieve the UN’s Sustainable Development Goals.

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