When most people hear the word “cryptocurrency,” they often think of Bitcoin. This reaction is reasonable; after all, Bitcoin remains the most valuable cryptocurrency on the market. However, as any crypto lover will tell you, there are several other cryptocurrencies on the market.
One of these is the Enjin cryptocurrency. What is Enjin, you ask?
Enjin crypto is an ERC-20 compatible token, allowing you to trade this asset on an Ethereum wallet. However, Enjin technology handles more than a single currency. Instead, it aims to integrate with games.
This feature allows you to trade Enjin Coin as a currency. Meanwhile, you get to store the assets in your Enjin wallet.
If this sounds fascinating to you, continue reading! We’ll break down the essential information you need to use Enjin effectively.
What Is Enjin? Using It for Gaming
Enjin is a popular cryptocurrency for people in the crypto gaming world. You can use an Enjin wallet to buy, sell, or trade NFTs in a game.
In many MMORPG settings, players can purchase an item in Enjin that you can use across several games. From there, you can trade or sell assets in the online marketplace.
Even better, the blockchain keeps your identity anonymous. The blockchain also secures the transaction, making it safe to perform.
Unique Enjin Features
Many cryptocurrencies function identically to standard currencies. You can either use them for transactional purposes or store value in the asset.
Enjin Coin functions similarly, but it focuses in particular on games and in-game assets. You may find items listed for sale in the Enjin market that you can use in online games.
However, you’ll need ENJ to transfer items to other players. Since they have a built-in use, Enjin Coins differ drastically from currencies like Dogecoin.
Can You Mine Enjin Like Other Cryptocurrencies
Unlike an asset like Bitcoin, there is no specific method for mining Enjin. The reason for this is that Enjin doesn’t utilize its own blockchain.
Instead, Enjin functions on an Ethereum-based blockchain. As a result, Ethereum miners do the work that keeps Enjin powered.
How to Buy Enjin
You can find Enjin on several of the most popular crypto exchanges. Coinbase, Binance, Gemini, and Kraken all sell this crypto asset.
However, you won’t find it across every platform. If you want to buy Enjin assets, check your favorite exchange to ensure it’s available.
Currently, the Enjin coin price is about $3.52. This price could vary depending on the market’s state.
On average, Enjin Coin transactions take close to five minutes to complete. During that time, they’ll require 20 confirmations.
Also, keep in mind that Enjin is an ERC-20 token. As such, it pays fees in Ethereum. Depending on the time of day, those Ethereum fees can vary significantly.
Find Enjin Coin Today
If you were asking, “What is Enjin?” before, we hope this Enjin Coin guide helped! Enjin is an exciting new asset in the crypto world, especially if you enjoy online gaming. So, don’t hesitate – find Enjin assets today!
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