Looking to buy Enjin coin? Using an online broker or exchange, you can invest in ENJ and get in on the NFT buzz. Developers use $1.6bn market cap Enjin coin to mint NFTs for their blockchain games and metaverses.
The question is: where is the best place to buy Enjin? Below we review one top broker and three crypto exchanges where you get your hands on Enjin for low fees with a premium and trustworthy beginner-friendly experience.
How to Buy Enjin Coin – Quick Guide
Thinking about buying cryptocurrency in 2022? Here’s how to buy Enjin Coin (ENJ):
- Step 1: Open an account with the site you pick – Head to the main page and sign up with a few personal details. Or sign in with Google/Facebook.
- Step 2: Verify – Get your ID verified. Have your passport handy, as well as some paperwork proving where you live.
- Step 3: Deposit – Most broker accounts work in USD. So if you are a US investor, no currency conversion fee will apply when you deposit.
- Step 4: Search for Enjin Coin – Simply enter ‘Enjin’ in the site’s top toolbar. Navigate to the homepage to get the Enjin low-down.
- Step 5: Buy – You can invest in Enjin (ENJ).
Where to Buy Enjin Coin
How to invest in Enjin in a way that suits you depends on your level of experience. If you are adventurous, we recommend you try out the exchanges Crypto.com, Coinbase and Binance. These exchanges are geared towards beginners, but the range of options can be intimidating.
1. Crypto.com – Reputable Crypto Exchange with Beginner-Friendly Mobile App
Crypto.com is an online exchange that specialises in crypto only. The exchange boasts 10m users and is ranked by CoinMarketCap as the tenth-biggest crypto exchange in the world. You may have heard of Crypto.com because it advertised on TV using actor Matt Damon during the 2021 SuperBowl final.
You can buy Enjin direct via credit card with Crypto.com, or invest with fiat currency via your account. 250+ crypto coins are available in all.
When it comes to trading power, Crypto.com offers some advanced options like margin and derivatives trading; neither are suitable for beginners, so newbies stay clear! Crypto.com’s crypto financing options, on the other hand, are a little more accessible.
Crypto financing refers to using cryptocurrency to obtain loans or earn interest. Crypto.com provides standard crypto staking with up to 14.5% APY (Annual Percentage Yield), ‘Supercharger’ crypto staking for higher returns, and the Crypto.com Visa card that allows you to spend your crypto in everyday life while earning up to 8% back on purchases. You can also get a crypto loan with an interest rate of 8% per year by using your current crypto as collateral.
Pros
Cons
Crypto assets are a highly volatile unregulated investment product.
2. Coinbase – Popular US Cryptocurrency Exchange with Great Security
Based in San Francisco, Coinbase is ranked as the second-biggest crypto exchange by CoinMarketCap.com and boasts 73m users. It is regulated in all US states where it does business. Coinbase made a name for itself by being the first exchange to go public on the NASDAQ in 2021.
Coinbase is well-known for its strong security, keeping 98% of customer crypto in ‘cold’ storage, meaning it’s offline and safe from hackers. Coinbase also features one of the largest lists of all cryptocurrencies: while you can’t buy every coin listed, looking through them is a good way for newcomers to learn about the crypto world.
You can buy Enjin coin with Coinbase direct with credit card or with fiat currency deposited in your account. You can also use PayPal, Apple Pay and Google Pay. Where this exchange has come in for criticism is in its complex fee structure, which uses a mixture of flat fees and commission. Coinbase said in 2021 that a new fee system was being considered; let’s hope it wipes out the 3.99% fee on credit card purchases!
Like most of its rivals, Coinbase offers a free smartphone app and crypto wallet. The exchange is particularly good when it comes to incentives; you can earn crypto simply by completing online learning modules (if it does not remind you too much of your schooldays …).
Pros
Cons
Crypto assets are a highly volatile unregulated investment product.
3. Binance – Giant Exchange to Buy Enjin Coin
Binance is the biggest exchange there is. It claims to do roughly $80bn of crypto business every 24hrs, with 90 million registered users and 600+ crypto users listed.
You can buy Enjin coin with Binance in a bewildering variety of methods. US customers cannot buy ENJ direct with credit card, but you can fund your account with credit card and then buy ENJ, either direct or by trading pairs on the main exchange. Alternatively, you might track down a third-party offering Enjin coin on Binances P2P trading system.
Like Crypto.com, Binance offers a powerful range of crypto financing options, including crypto staking, crypto interest accounts and liquidity pools. These are all ways you can earn money on what crypto you already own. If you want to save money when trading on the open exchange, get some in-house crypto BNB as this gives you 25% off the already low trading fees of 0.1%.
Overall, Binance offers perhaps the most wide-ranging crypto service on the planet. But, for the beginner, it can be overwhelming. To make things simpler for you, be sure to select ‘classic’ view on the desktop interface and ‘Binance Lite’ on the smartphone version. Like its competitors, Binance offers a free crypto wallet called the Trust wallet, as well as the free Binance Smart Chain wallet. As with everything Binance, even the wallets come in multiple options!
Pros
Cons
Crypto assets are a highly volatile unregulated investment product.
What is Enjin?
Enjin coin is an ERC-20 token promoted by a company called Enjin. Enjin has a series of gaming metaverses. The Enjin coin is provided for developers to use in minting in-game NFTs (Non-Fungible Tokens). NFTs are used in blockchain games and metaverses as tradable items. The idea of Enjin coin is that every NFT minted with it actually contains Enjin coin. The NFT can be ‘melted’ back into Enjin. The Enjin coin therefore acts like a gold standard for NFTs.
According to data specialists CoinMarketCap, roughly $150m of ENJ is traded every day. The coin currently has a total market capitalisation of $1.4bn.
Is Enjin a Good Investment?
Good Tokenomics
The Enjin coin has a limited supply of 1 billion (ie. 1,000,000,000). 93% of Enjin coins have already been minted. This leaves just 7% of Enjin stock waiting to come to market. The limited supply of Enjin makes for good tokenomics. With a cap on how much ENJ can be created, the value of ENJ cannot decrease due to over-supply — which is what happens with fiat currencies, for example, when government treasuries decide to print more money. Most crypto has a limited supply like this, but some (like Dogecoin, for example) do not.
Gold Standard for NFT Creation
Enjin is by no means the only way developers can mint NFTs. But according to its producers it acts as a gold standard for over a billion assets (1,142,661,953 to be precise). In other words, this is a serious coin in widespread usage in the crypto and NFT ecosystem.
Buy the Dip
The price of Enjin coin has fallen by 62.27% since its all-time-high of $4.85 in late November, 2021. That is bad news for investors holding Enkin. But, if you are a crypto newbie, this is great news: buy the dip! Since mid-March 2022, the price of Enjin coin appears to have found a level and started to rise again. Sure, the price could take a further tumble. But on Enjin’s side is that it is an established crypto with a real function in the crypto world; this could stand it in good stead above other crypto if the sector launches into another boom period.
Join 165,253 Enjin holders
Currently 165,253 crypto wallets hold Enjin coin. The top wallet holds upwards of $187m in ENJ. With giant sums of money like this invested in ENJ, other investors can be reassured that ENJ is a serious investment prospect.
Get in on the NFT Buzz
Enjin is a crypto that is specific to the booming market in NFTs. The NFT sector was worth around $10m at the end of 2020; by the end of 2021, it was worth $25bn. Some analysts judge that NFTs have passed their point at which they can be thought of as just a speculative bubble that could burst at any moment. Brands need a digital presence and digital products, and NFTs provide that.
Enjin Price
Just last year, Enjin reached an all-time-high of $4.6858 on 25th November 2021. Today its price stands at $1.6278. Like the rest of the crypto sector, the price of Enjin has been hard hit by fears over global inflation followed by the impact of the Ukranian crisis. Institutional investors were moving their money out of crypto into safer assets, and this has lead to price falls across the board in the crypto sector.
Enjin Price Prediction
Since mid-March 2022, the ENJ price has stabilised and begun to rise gradually. Technical chartists would call this a ‘teacup’ pattern ie. the shape of the price chart matches the gentle curve of the bottom of a teacup; this is generally considered to be an encouraging sign.
The Enjin price over the medium to long term depends broadly on a) the health of the entire crypto sector and b) the health of the NFT sector, since ENJ is used to mint NFTs.
NFTs had a breakthrough year in 2021, with sales hitting £25bn (according to leading analysts DappRadar). And top US investment bank JP Morgan Chase says, ‘the NFT universe is surely set to continue to grow strongly over the coming years.’ NFTs are central to digital metaverses as well as play-to-earn games. They are increasingly expected from a brand as part of their digital presence.
The Enjin price is unlikely to see its all-time-high of approaching $5 any time soon. But a target price of $2.5 per ENJ by the end of the year would not be unreasonable.
Enjin Crypto Video Analysis
Ways of Buying Enjin
Buying Enjin with PayPal
How to buy Enjin coin with PayPal? With exchange Coinbase you can use Paypal to buy crypto. But you cannot do so currently with Crypto.com or Binance. Ever since PayPal began to allow users to buy crypto direct from inside their PayPal account, the payment wallet has dropped in popularity with crypto brokers and exchanges. US users can, though, top up their Crypto.com credit card with PayPal.
Buy Enjin with Credit Card or Debit Card
Exchanges Crypto.com and Coinbase allow you to buy Enjin with credit card or debit card. You cannot currently buy ENJ with credit card direct at Binance from the US.
Best Enjin Wallet
Having read through our reviews above, you might still be asking yourself: Where can I buy Enjin coin? Well, here is one thing for certain. You do not need to sign up with a crypto wallet to buy Enjin coin. With top broker Crypto.com, for example, you can start with a small amount and Crypto.com will look after it for you. The same is true for exchanges Coinbase and Binance.
You would need a crypto wallet if you want to send your Enjin coin to another address on the blockchain. If you are looking to buy Enjin as an investment, you will not need to do this.
Conclusion
How to buy Enjin coin safely with low fees? With our four reviews above, we hope to have given you some starting points. Now you can start checking out some vendors yourself.
Where to buy Enjin coin depends on your level of crypto experience. Investors who have successfully navigated a few crypto trades might want to look at the big exchanges and explore the powerful trading and financing options on offer.