Bitvavo makes Enjin as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Enjin (ENJ) is a digital currency focused on the gaming industry. The goal of Enjin is to become the digital currency that everyone within the game industry uses. In addition, Enjin offers a ready-made platform based on blockchain technology on which third parties can develop their own game. There are already 250,000 game communities connected to Enjin and the platform already has more than 20 million registered users.
In the gaming industry, it is common for players to be able to buy things from each other, thereby improving their character in the game. Examples of these types of games are Runescape or World of Warcraft. However, the items can often only be used in one game and it is not possible to take the items with you or exchange them for possessions that are helpful in another game.
With its platform, Enjin wants to ensure the connection between the various platforms. This is achieved by making it possible for gamers to token their possessions in games. This allows gamers to easily exchange their possessions with each other, making it possible to exchange your belongings from one game to possessions in another. In addition, it is also possible to have possessions in games paid out in Enjin coins which can ultimately be converted to fiat money. All transactions are clearly recorded on the blockchain so that they are clear to everyone.
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store Enjin. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
Storing Enjin and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Enjin without any technical knowledge. Here is a brief overview of the existing wallet options to store your Enjin:
Hosted wallets are wallets where the private keys to your Enjin are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your Enjin online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
A software wallet is a program installed on your computer or other device in order to use and manage your Enjin. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your Enjin, and if malicious parties have access to your device, your private keys (and therefore your Enjin) can be stolen.
A hardware wallet is a physical device on which you can store your Enjin offline. It is one of the safest ways to store your Enjin, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your Enjin is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Enjin. Once you have purchased Enjin on Bitvavo, you can choose to send your Enjin from your Bitvavo wallet to your own software or hardware wallet.