Buy Enjin in Australia

Enjin

ENJ
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Overview

#117Popularity
GamingAsset type
2017Active since

What is Enjin?

Buy Enjin: Why? Because it is the bridge between gaming and blockchain.

What Is Enjin Coin (ENJ)?

Enjin Coin (ENJ) is a token launched by Enjin in 2017, and it operates on the Enjin blockchain. Its primary purpose is to power transactions within the Enjin ecosystem.

Enjin has made big strides to integrate blockchain technology with the gaming industry.

Here are the things ENJ can be used for.

Minting NFTs

Developers use ENJ to mint NFTs. When they create an NFT, it is backed by a certain amount of ENJ, giving it intrinsic value.

Trading and collecting

ENJ facilitates trading and collecting rare NFTs within the Enjin marketplace.

Paying gas fees

Enjin Coin is used to pay for gas fees when minting NFTs, for example.

Custom coins

Developers can create custom coins without any coding requirements using ENJ.

ENJ and NFTs

Enjin was originally built on the Ethereum network. Since then Enjin has created its own blockchain. By the end of 2023, Enjin had moved 200 million NFTs across from the Ethereum Network.

Using an NFT-centric fork of the Polkadot Network, Enjin Blockchain aims to speed up the network and offer low transaction fees of just $0.005. “This, combined with a throughput of 5,000 transactions per second and the capability to mint up to 2,000 NFTs in a single transaction, sets a new standard in NFT usability,” they said.

Some interesting things about Enjin

Backing digital assets

Enjin Coin backs the value of blockchain assets, particularly non-fungible tokens (NFTs). These NFTs represent unique digital items, such as in-game skins, collectibles, and virtual goods.

Smart contracts

ENJ not only acts as a cryptocurrency but also has smart contract capabilities. This means that developers can create programmable assets with specific rules and behaviours using ENJ.

Enjin’s approach differs from some other solutions. Unlike traditional smart contract-based systems, Enjin Blockchain doesn’t rely solely on smart contracts for critical functions related to creating, using, and transferring non-fungible tokens (NFTs). Instead, Enjin integrates these essential features directly into its foundational code.

Why do investors buy Enjin Coin?

Integration with gaming

Enjin has successfully integrated its technology into popular games, including Minecraft. Players can earn ENJ through in-game achievements and use it to purchase virtual items within the Enjin Marketplace.

Real-world value

Every asset minted with the Enjin Platform contains ENJ. This means that items in games or virtual worlds can be exchanged with real-world value. You can own a rare sword in a game that you can also trade for ENJ or convert into other cryptocurrencies.

Community and adoption

Enjin has a strong community of gamers, developers, and blockchain enthusiasts. Its adoption continues to grow, making it an exciting project to watch.

##Conclusion: Buy Enjin in Australia

Enjin Coin represents a fascinating intersection of gaming, blockchain, and creativity. As the gaming industry continues to evolve, keep an eye on ENJ.

How to buy Enjin on CoinJar

If you’re in Australia and want to buy Enjin (ENJ) using Australian dollars (AUD), you can do so through CoinJar, the longest-running cryptocurrency exchange in the country.

Here are the simple steps to get started:

Sign Up to CoinJar: Download the CoinJar app. Create an account and verify your ID within the app.

Deposit Funds: Transfer funds from your bank account to CoinJar using bank transfer, PayID, or Osko.

Buy Enjin: Once your funds are deposited, you can buy Enjin by following these options: Cash or Credit Card: Purchase Enjin instantly using Visa or Mastercard.

Crypto-to-Crypto: Convert other cryptocurrencies to Enjin with a single click.

Please note, CoinJar does not endorse the content of, and cannot guarantee or verify the safety of any third party websites. Visit these websites at your own risk.

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How to buy Enjin with CoinJar

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Frequently asked questions

What is Enjin Coin (ENJ)?

Enjin Coin (ENJ) was originally made as an ERC-20 token built on the Ethereum network. Now it operates on the Enjin blockchain. It serves as the native cryptocurrency of the gaming company Enjin, which integrates blockchain technology with the gaming industry.

ENJ backs the value of non-fungible tokens (NFTs) and enables unique digital assets within games.

Why is a token migration necessary?

A token migration is the process of moving a digital item or token from one blockchain to another. Enjin migrated ENJ to its own blockchain for better features, including faster transactions, low fees, and advanced NFT capabilities.

What Is the Ethereum burn address?

The Ethereum burn address (0x000000000000000000000000000000000000dEaD) is effectively inaccessible. During migration, ERC-20 ENJ tokens are sent there to ensure they are permanently removed from the Ethereum blockchain.

Why was Enjin Matrixchain integration delayed?

Enjin Matrixchain integration was delayed to ensure key features are available immediately. These include staking, expanded NFT features, and using ENJ for added capabilities.

What is the initial supply of the new ENJ Token?

The new Enjin Blockchain starts with 1.75 billion ENJ tokens, including migration, Efinity Token (EFI) swaps, and incentives.

How can I buy Enjin Coin?

You can buy ENJ on various exchanges, including CoinJar (for Australian users). Follow the steps mentioned earlier to get started.

What Is the effectiveness of Enjin’s advertising campaigns?

Enjin’s targeted advertising campaigns effectively reach its gaming community platform, promoting adoption and awareness.

What enhanced personal features does Enjin offer?

Enjin offers personalised features within its ecosystem, allowing users to customise their experience.

What are Software Development Kits (SDKs) used for?

Enjin provides SDKs for developers to integrate ENJ and NFT functionality into their games and applications.

What Is the role of Enjin Coin (ENJ)?

ENJ serves as the native currency for Enjin’s ecosystem, powering NFTs and virtual assets.

Does Enjin Coin Have a Future?

Yes, Enjin Coin has a promising future. Here are some reasons why:

Quality and Adoption: Enjin offers a high-quality product with adoption in the gaming industry. It empowers gamers by allowing true ownership of virtual assets.

Community and Partnerships: Enjin has an existing communityof users and strategic partnerships with leading brands.

NFT Market Exposure: Enjin is inherently exposed to the rapidly growing non-fungible token (NFT) market, which has seen significant growth in recent years.

What is the origin of Enjin?

Enjin was founded in 2009 by Maxim Blagov and Witek Radomski. Initially, it operated as a social gaming platform, but in 2017, it shifted its focus towards blockchain and cryptocurrency. The goal was to empower gamers by giving them true ownership of their virtual assets.

What Is Enjin Coin Based On?

Enjin Coin (ENJ) was originally an Ethereum-based cryptocurrency. It now runs on the Enjin blockchain. It directly backs the value of blockchain assets created on the Enjin online gaming creation platform. This allows for virtual ownership of goods and trading between gamers and community members.

What is the all time high price of ENJ coin?

The all-time high price for Enjin Coin (ENJ) varies depending on the currency: The highest price was $4.82 in November 2021.

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