Enjin Coin (ENJ), a cryptocurrency created by content management company Enjin designed for gamers, was officially released and made available for trading on November 1st, 2017. For those who do not know about Enjin, the company hosts a variety of websites dedicated to gamers who create forums for their gaming communities, such as Minecraft, Star Wars: The Old Republic, Destiny, and many more online gaming products.
One of the drives Enjin had with wanting to create this currency was to provide game developers with a reliable form of alternative real-value currency they could implement into their games. The gaming community could then use the ENJ tokens they acquired to purchase in-game assets, such as cosmetic items or boosters for their account. These types of assets vary on the developer and the type of game they created.
As of right now, ENJ is valued at $0.19 USD, 0.00001727 BTC and 0.000021718 ETH. These overall values gradually rise and fall throughout the day, though the totals seem to hover at this range most of the time. Enjin capped the USD market at $144,099,293 and the BTC market at 13,060. Presently, there are 756,192,535 in circulation.
Now that you have an idea of what ENJ is, here’s the big question: Where can find ENJ tokens and how can you get your hands on it?
You’ll want to know where you need to go first. So far, these seven websites have opened up their marketplace to allow their users to start trading ENJ:
For now, only these websites accept and trade ENJ. All of the above websites have limited users to exchanging ENJ for Ethereum (ETH) or Bitcoin (BTC), not a fiat currency. This means you’ll have to take a few extra steps to acquire ENJ.
By following this article, you will learn about those extra steps, how to complete them, and find the quickest way to safely acquire ENJ to add to your cryptocurrency collection.
What Wallet Do You Choose?
To start, you will want to make sure you have access to a cryptocurrency wallet to use to trade on the website. You’ll use this wallet to transfer over your ETH or BTC to your account where you’ll acquire the ENJ. You will want to make an account on one of the following wallet websites:
- Coinomi
- MyEtherWallet
- MetaMask
- Mist
- Parity
- imToken (This website was created in Chinese and is not recommended for those who do not speak fluently speak the language)
For those who do not wish to create an account with any of these wallets, you should ensure the application you do use allows you to interact with ERC20 tokens to simplify the process. If you do not, you will need to create an account with a wallet that supports these tokens and have access to its private key to properly exchange for ENJ tokens.
Creating An Exchange Account And Purchasing ETH or BTC
With your wallet picked out, you need to proceed to an exchange website and pick up some ETH or BTC. You’ll need to create an account on this website and provide them with a reliable email. The final step requires you to answer a verification email sent by the website to your email. You’ll need to do this first before purchasing any ETH or BTC.
Following the verification process you’ll purchase the amount of ETH or BTC you want using your bank information. It’s best to view how much BTC or ETH you need to purchase your desired amount of ENJ prior to confirming the purchase. This transfer can take a few minutes and you may want to refresh your browser several times to confirm the balance on your account.
Here is a list of recommended exchange websites for you to create an account on:
Each time you exchange on these websites, you pay a small fee. For those who want to pay a lower fee when they exchange between cryptocurrenices, you may want to create an account on Coinbase as they have a solution to this, which is detailed later on.
Registering Your Cryptocurrency Account
When you’ve confirmed the ETH or BTC have arrived to your account, it’s time to go to the cryptocurrency exchange website and create an account on there. The account creation process follows the same steps as the previous websites, so they will feel familiar. You will likely want to use the same email address from your previous account, as you will need to confirm a verification email at the end of the creation process.
Here is a list of recommended cryptocurrency exchange websites for you to create an account on:
- Binance
- Coinspot
- Poloniex
For those who created their accounts on Coinbase to pay lower fees, you will want to go to Binance to create your new account on. Once that is created, you will go to the website called Gdax, which is owned by Coinbase. Because Coinbase own this website, you can use the same login information here. You will want to transfer your Coinbase funds to this account and then use the account information on Gdax during the next step, not your Coinbase one.
Upload ETH or BTC To Your New Account
With both accounts created, you’re ready to send your ETH or BTC funds to your newly created account. You can send these over by locating the deposit icon on the cryptocurrency website and upload the funds from your first account over to your new one using the first account’s private key address.
This transfer will take a little bit of time and may require you to refresh the page every few minutes to confirm the funds were successfully sent over.
Exchanging For ENJ
Now, the final part: exchanging your ETH or BTC for some new ENJ tokens. On your preferred website locate the ENJ section and choose the ‘buy’ icon. This will take you to a new section where you choose how many ENJ tokens you want to purchase and the transaction page will estimate how many ETH or BTC tokens you’re going to pay for.
When you settle on the amount of ENJ you wish to purchase you hit the ‘buy’ button and confirm your purchase.
You’re now the owner of ENJ! Your account balance will likely reflect this transfer after a short period of time and you may need to refresh the page to verify the purchase.
Like any good cryptocurrency trader, you should develop a routine to check on your investments and see how they develop over the next few weeks. You don’t need to watch it every hour, but make sure to stay on top of it and remain aware of public statements released by Enjin about ENJ. They set up a website where they release news, videos, and consistent market related to the cryptocurrency every ENJ trader should bookmark
