Popular science: What kind of currency is ENJ coin? How to get ENJ coins?

ENJ coins, the backbone of the Enjin platform, enable developers to create, use, and manage blockchain assets and provide multiple use cases, including platform fees, in-game transactions, staking, and investment opportunities.

Oct 09, 2024 at 09:12 am

1. What is ENJ Coin?

ENJ coin, also known as Enjin Coin, is a cryptocurrency that powers the Enjin platform. The Enjin platform is a suite of products and services that enables developers to create, use, and manage blockchain assets. ENJ coins are used for various purposes within the Enjin ecosystem, including:

• Paying fees for platform services (e.g., creating and managing blockchain assets)
• Purchasing in-game items and assets
• Staking to earn rewards and voting rights
• Holding for investment purposes

2. How to Get ENJ Coins

There are several ways to obtain ENJ coins:

• Purchase from a cryptocurrency exchange: ENJ coins can be purchased from various cryptocurrency exchanges, such as Binance, Coinbase, and Kraken.
• Earn through gameplay: Some games that integrate with the Enjin platform allow players to earn ENJ coins by completing tasks or achieving milestones.
• Participate in airdrops or bounties: ENJ coins may be distributed through airdrops (free distributions of coins) or bounties (incentivized tasks).
• Mining: However, it is not possible to mine ENJ coins currently. Its supply is fixed at 1 billion coins and will not increase beyond this limit.

3. Usage of ENJ Coins

ENJ coins have several use cases within the Enjin ecosystem:

• Platform Fees: Developers pay ENJ coins to use the Enjin platform's services, such as creating and managing blockchain assets, deploying smart contracts, or accessing blockchain data.
• In-Game Transactions: ENJ coins are used as the primary currency for buying and selling virtual goods and assets within games that integrate with the Enjin platform. Players can use ENJ coins to purchase in-game items, characters, weapons, or other digital collectibles.
• Staking: ENJ coin holders can stake their coins to earn rewards and gain voting rights within the Enjin ecosystem. Stakers contribute to the security and stability of the platform by locking their coins in a smart contract for a certain period of time.
• Investment: ENJ coins can also be held as an investment asset. The value of ENJ fluctuates based on market demand and supply, and investors may buy and sell ENJ coins with the aim of profiting from price changes.