Enjin Coin (ENJ) is an Ethereum-based cryptocurrency that backs the value of blockchain assets like non-fungible tokens (NFTs). It is the native token of the Enjin Blockchain, designed for NFT transactions at the protocol level. ENJ is used to create, manage, and trade NFTs, and its maximum supply is capped at 1 billion tokens. The coin is also used for governance, security, and transaction fees on the Enjin Blockchain.
Enjin Coin (ENJ) is primarily used for various operations related to non-fungible tokens (NFTs) within the Enjin ecosystem. It is used for purchasing, selling, and trading NFTs, which can represent unique game items such as characters or accessories. These NFTs can be stored, tracked, and sold for ENJ through the Enjin wallet, allowing gamers to access and manage their digital assets across multiple gaming platforms.
ENJ is also used to mint new NFTs, with developers locking ENJ tokens into smart contracts to create these digital assets. When these NFTs are sold, the locked ENJ is released, creating a demand for the token. This mechanism, combined with the limited supply of 1 billion ENJ tokens, contributes to the token's value.
Additionally, ENJ can be used for other purposes, such as paying transaction fees on the Enjin Blockchain and participating in governance by staking tokens to contribute to the security and decision-making processes of the ecosystem.
To store Enjin Coin (ENJ) tokens, you can use a variety of methods:
Enjin Wallet: You can store your ENJ tokens in the official Enjin Wallet, which allows you to manage your tokens, participate in governance, and stake your coins for rewards.
Ledger Hardware Wallet: Ledger offers a secure hardware wallet specifically designed for Enjin Coin. This wallet stores your private keys offline, making it resistant to malicious attacks. You can manage your ENJ tokens using the Ledger Live App, which also allows you to buy, swap, and track your assets.
Nova Wallet: Some users have reported storing their ENJ tokens in the Nova Wallet, but it seems that this wallet might not support all Enjin Coin functions, such as staking and migration.
- Other Wallets: You can also store your ENJ tokens in other wallets that support Enjin Coin, but ensure that the wallet is compatible with Enjin's ecosystem and allows you to manage your tokens effectively.
Regardless of the wallet you choose, make sure to follow best practices for securing your private keys and keeping your wallet up to date to ensure the safety of your ENJ tokens.
To buy Enjin Coin (ENJ) tokens, you can follow these steps:
Create an Account:
- On Coinbase, download the app and sign up with a valid ID and proof of address.
- On SpectroCoin, you can buy ENJ instantly without creating an account.
- On KuCoin, sign up with your email address, mobile phone number, and country of residence, and create a strong password.
Add a Payment Method:
- On Coinbase, connect a payment method such as a bank account, debit card, or initiate a wire transfer.
- On KuCoin, add a credit/debit card or bank account after verifying your account.
Select Enjin Coin:
- On Coinbase, search for Enjin Coin in the Buy panel or mobile app.
- On SpectroCoin, you can buy ENJ directly from the website.
- On KuCoin, choose Enjin Coin from the available assets.
Enter the Amount:
- On Coinbase, use the number pad to input the amount you want to spend in your local currency, which will be converted to ENJ.
- On KuCoin, enter the purchase amount and wait for the transaction to be completed.
Finalize the Purchase:
- On Coinbase, tap “Preview buy” and confirm your purchase by clicking “Buy now”.
- On KuCoin, complete the transaction using your chosen payment method.
These steps will guide you through the process of buying Enjin Coin tokens on various platforms.
