Virtual gaming and NFTs gained rightful traction during the pandemic along with the rise of the metaverse.
Gladly, there is a company specializing in both sectors and its native token is within arm’s reach to investors.
This guide contains all the information needed about Enjin–a company that’s changing the landscape of virtual gaming and NFT.
We will provide a detailed guide on how to buy Enjin Coin using different mediums.
Also, tune in until the end of the article for ENJ’s near-term and long-term price predictions.
Best Exchanges to Buy Enjin Coin 2024
Enjin Coin is available for retail traders across the majority of crypto exchanges. But not all platforms are created the same–some offer better services and deals.
Below are two of the best choices to Buy Enjin Coin.
When it comes to a straightforward and hassle-free trading experience, nothing does it like eToro.
Its beginner-friendly interface and novel features make any crypto investment easy to do.
eToro officially welcomed Enjin Coin in 2021 and the token is now among the 58 cryptocurrencies trading on the platform.
This multiasset site is available in more than 100 countries worldwide and houses a strong user base of more than 20 million.
It also legally operates across important locations, with CIF, FCA, and ASIC accreditation.
eToro’s social trading features help investors, both beginners and otherwise, make better decisions.
Its CopyTrader feature allows users to view, track, and copy experts’ trades, helping to maximize profits and limit losses.
Another way you can buy, sell, and stake Enjin coin is through Binance. It might be the most popular exchange among crypto traders for its very low fees, with a flat rate of only 0.1%.
Aside from trading, there are a lot of other ways you can grow your crypto investment on this exchange.
Investors can participate in new coin launches and stake coins for a reward through Binance Staking.
Moreover, users can also leverage Binance Earn and put their coins either on locked or flexible savings to accumulate a certain percentage of interest over time.
Many retail investors worldwide prefer to use Binance due to its low minimum deposit fee, availability, and easy-to-use interface.
Best Hard and Soft Wallets to Store Enjin Coin
You may store cryptos on either hard or soft wallets aside from mainstream exchanges.
These are proven to be safer alternatives as users can take hold of their own private keys instead of entrusting them to an exchange.
Both brands have stellar safety records and survived hacking breach trials in the past. All of their units are not connected to the internet and safety keys are stored offline.
Ledger uses random number generators to derive each user’s unique private and public keys.
All of Ledger’s models support ENJ for buying, swapping, sending, and receiving but not for staking.
Meanwhile, Trezor is another great platform to store ENJ. Like Ledger, both Trezor One and Trezor Model T are compact, easy to carry around and support ENJ storage.
Cold wallets are ideal for long-term holders and not for frequent traders. It is quite difficult to move tokens when using hardware compared to software-based technology.
For those seeking easier access to their crypto funds, there is another option for you.
Soft wallets are connected to the internet which makes them are easier to set up and access. The most-preferred platform of this type today is Trust Wallet.
Trust Wallet leverages using seed phrases so owners can get access to all keys and addresses contained in their wallets at any time.
It supports millions of virtual assets and cryptos, including Enjin.
It is also known as an investor go-to platform for initial coin offerings due to its secured network.
Step-by-step Guide on How to Buy Enjin Coin
Now that you have decided to jump into the crypto bonanza, here is an easy-to-follow guide on how to buy Enjin Coin on different exchanges.
Step 1: Create an Account
The first step when creating an account on any crypto exchange is registration.
To start, enter the exchange’s official website click “Sign Up” or “Register.” Enter your personal details and agree to terms and conditions.
Step 2: Verify Your Account
After registration, new users are required to verify their accounts before getting a go-signal for trading.
Present valid identification cards and the website will send an email once the documents are approved.
Step 3: Deposit an Amount
Once verified, you can now access all the site’s features including deposit.
There are a lot of ways you can fund your accounts such as bank transfer, a credit/debit card linking, or online transfers through PayPal, Skrill, Wise, etc.
Step 4: Buy Enjin Coin
Your account is now funded. Click the token of your choice, in this case, type “Enjin Coin” or “ENJ.”
Enter the amount you want to trade and click “Buy” to complete the order. You have just made your first ENJ purchase!
All About Enjin Coin
Enjin is a software company specializing in virtual in-game assets on the Ethereum blockchain. The Enjin Network is home to 20 million members worldwide.
Its white paper states “NFTs for Everyone” which speaks about its core business offering.
It functions as an all-in-one NFT marketplace which allows developers to create, develop, and sell non-fungible tokens without coding.
Aside from this, Enjin is also a prime mover of free-to-play gaming which has a growing market today.
It leverages a Proof-of-Authority consensus that puts reputation on the line instead of stakes.
This reduces gas fees and time required to transfer in-game goods and NFT collectibles.
ENJ was first introduced to the public through a record-breaking ICO that generated $12 million in funds in 2017.
Since then, the company hosted successful funding rounds from blockchain venture capitalists to fuel its growth.
Price History of Enjin
Enjin Coin currently exchanges hands at $1.75, down 2.65% from the previous session.
It hit an all-time high of $4.83 in November 2021 and fell to a cycle low of $1.18 on February 24, 2022.
Enjin holds a market capitalization of $1.52 billion and is included among the Top Five (5) biggest gaming tokens by market cap.
It has created 1.17 billion assets so far, with 12.4 million ENJ locked in those assets
Return on Investment
ENJ started following a downward momentum during the last quarter of 2022.
During which all major, minor, and meme coins experienced painful retracements from dominant market speculation.
Enjin Coin’s price is down 9.92% YoY and 20.20% YTD. Meanwhile, ENJ investments made last month are at a 10.52% decline.
Is Enjin Worth a Buy?
Despite trading sideways in the past months, Enjin is still worth a buy. As a general market rule: always buy low and sell high.
Investors planning to enter now while ENJ still trades at $1.75 have a chance to double their money once prices hit $3.50 mid-year.
There are a couple of reasons behind this positive forecast. First, blockchain gaming organizations collectively raised $500 million in funding for growth.
This means that venture capitalists believe that the industry, including the company directly linked to it, still has wide room for growth.
Second, Enjin has a one billion max supply and the majority of which are already minted.
Analysts project that the company might resort to melting some of its tokens in the future.
Melting is a process of destroying blockchain assets to reduce a coin’s circulating supply and increase its value.
As per Enjin’s website, users will still get 50% to 100% of the coin’s worth in case developers decide to cut supply in the future.
Before you buy Enjin Coin, check out this price prediction to see where your investment is going:
ENJ has the potential to break past $4.0 again if it manages to move past the psychological resistance of $1.8 this month.
After this level, prices can move further and settle at an all-time high level of $4.5 by the end of the year.
By 2024, Metaverse could make more sense and users could realize its real-world utility than where it is today.
Tokens like ENJ directly tied to the development will experience increased market patronage. ENJ price will settle between $7.0 to $10.0 in 2024.
ENJ’s long-term price prediction is bullish, with a possible hit price of $15.0 by 2026. Prices could move further up if positive reception for NFTs and virtual gaming continues.
Enjin Coin recorded a lukewarm performance since falling from grace in the latter part of 2021.
Despite this, its fundamentals remain strong and future projects in gaming and NFT spaces are promising.
In this article, you have learned about how to buy Enjin Coin using different platforms namely crypto exchanges, cold wallets, and hot wallets.
We have also provided price predictions for better guidance.