Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin's flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores.
Enjin allows game developers to tokenize in-game items on the Ethereum blockchain. It uses Enjin Coin, an ERC-20 token, to back the digital assets issued using its platform, meaning that items can be bought, sold and traded with real-world value.
Enjin Coin was first announced in July 2017, and it launched on the Ethereum mainnet in June 2018.
Enjin Coin (ENJ) is a digital store of value used to back the value of blockchain assets like non-fungible tokens (NFTs).
Every asset minted with the Enjin Platform contains ENJ, a minting resource which is locked inside NFTs and removed from circulation. Minting blockchain assets with ENJ provides a variety of benefits to creators and users:
* Infuses them with a reserve value
* Ensures their transparency and scarcity
* Gives them instant liquidity
* Provides utility in games and apps
* Anti-inflationary
* Enjin's "melting" functionality allows users to destroy their blockchain assets at any time to retrieve the ENJ value from within.
The Enjin blockchain ecosystem aims to offer software products that make it easy for everyone to develop, trade, monetize, and market with blockchain.
Founded in 2009, Enjin has roots in the gaming industry, with the company’s first product, a gaming community platform called the Enjin Network, growing to 20 million users over the course of a decade.
In 2017 following an ICO, Enjin established itself as a leading blockchain ecosystem developer, building a suite of software products that enable anyone to easily mint, manage, trade, distribute, and integrate blockchain assets.
Enjin’s co-founder Witek Radomski wrote the code for one of the first ever non-fungible tokens (NFTs) and is also the co-author of the ERC-1155 Ethereum token standard.
Built on top of an on-chain infrastructure, the Enjin ecosystem enables game developers and businesses of all sizes to use tokenized digital assets as part of their acquisition, retention, engagement, and monetization strategies. The Enjin ecosystem is fueled by Enjin Coin (ENJ), a cryptocurrency used to back the value of blockchain assets.
How to Buy ENJ on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing ENJ. Some reputable platforms include HTX、Bybit、Bitget, and others.
Step 2: Register an Account
Here, we'll register an account on theBybit(registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing ENJ.
Step 5: Purchase ENJ
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of ENJ you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy ENJ.
Step 6: Store Your ENJ
After purchasing, you can choose to store your ENJ in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and ENJ assets, be sure to use a strong password and enable two-factor authentication.
ENJ Price:Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. The price fluctuates daily, You can go to the exchange: Bybit to check the price.
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