1. ENJ/SGD: Trade ENJ directly with Singapore Dollars (SGD) 🇸🇬
With ENJ/SGD trading pairs available on Coinhako, our Singapore users will be able to buy & sell ENJ in Singapore Dollars (SGD) when they fund their accounts with SGD.
2. ENJ/VND: Trade ENJ directly with Vietnamese Dong Trading (VNDT) 🇻🇳
With ENJ/SGD trading pairs available on Coinhako, our Vietnam users will be able to buy & sell ENJ when they fund their accounts with VND.
3. Trade ENJ directly with US Dollars (USD) 🇺🇸
The ENJ/USD trading pair ENJ prices against the United States Dollar (USD), our Singapore users will be able to buy & sell ENJ when they fund their accounts with USD.
4. ENJ swaps (Crypto-to-crypto trading)
Coinhako users will also be able to trade ENJ with other cryptocurrencies that are supported in their countries, with our Swap function.
5. ENJ wallet for all
With the wallet feature, Coinhako users can securely send (withdraw), receive (deposit), and store ENJ.
6. Get the latest ENJ coin news on Coinhako 🚨
As with every other supported token on Coinhako, we endeavour to update our users on key news about each project through our various channels.
What is Enjin Coin (ENJ)?
ENJ is a digital asset that acts as a store of value used to back the value of blockchain assets like non-fungible tokens (NFTs), and allows users to manage and store virtual goods.
What’s unique about ENJ is that every token minted on the Enjin platform is directly backed by Enjin Coin (ENJ), which provides in-game items (like skins) real-world liquidity.
Whenever custom tokens are minted on the platform, more ENJ is removed from the ecosystem, which preserves its scarcity.
Enjin Coin was first introduced in July 2017, and held its Initial Coin Offering (ICO) in October where 30% of the total ENJ supply was made available for sale at $0.03 each. ENJ was later launched on the Ethereum mainnet in June 2018.
What is Enjin?
Founded in 2009, Enjin has roots in the gaming industry, with the company’s first product being a gaming community platform called the Enjin Network. It prides its growth to 20 million users over the course of a decade and is considered as an industry-leader in the NFT space.
ENJ uses smart contracts which allows game developers to mint new, unique fungible or non-fungible ERC-1155 tokens.
The Enjin platform offers its gaming followers the chance to create communities around their favorite games. Enjin users can build things like websites, gamer dApps, and chat forums.
It also allows game developers to tokenize in-game virtual assets like weapons or suits of armor, using Enjin Coin to back the digital assets issued. This means that items can be bought, sold and traded with real-world value.
What can you do with ENJ?
Apart from acquiring ENJ in crypto exchanges like Coinhako, here are 3 other ways ENJ can be used:
Minting infuses the gaming items with ENJ to provide a reserve value. Game developers for example, can mint in-game items like swords, plots of land or etc. As such any in-game asset or even the game itself can be minted.
ENJ coins are used as in-game tokens and provide real-world liquidity. Gamers are able to acquire ENJ-based digital assets through many ways like in-game rewards or marketplace purchases
Enjin Coin-based virtual items earned or purchased by gamers are not kept on the game servers — they are held safely in their private, secure Enjin Wallets.
Every trade transaction, whether it’s trading items for items, or ENJ for items, has to be confirmed by a gamer via his or her Enjin Wallet.
Read here for an elaborate explanation on how Enjin Coin works.
At the time of writing, ENJ traded on Coinhako for $2.33 USD.
How to buy Enjin Coin in Singapore?
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All opinions expressed here by Coinhako.com are intended for educational purposes, taken from the research and experiences of the writers of the platform, and should not be taken as investment or financial advice.