If you’re based in the USA and wish to buy Enjin Coin – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many Enjin Coin tokens you want to buy.
Enjin Coin tokens are among the cryptocurrencies that exist in the market today. Operating in a sea of several other cryptocurrencies, each with different values and features that make them stand out, Enjin Coin will help you diversify your investment portfolio and minimize your financial risks.
The following guide helps you acquire information about everything you need to know before investing in Enjin Coin tokens. The guide will also take you through buying and selling the tokens so that even if you are a beginner, you can have an easy time.
Supposing you are just getting started on the crypto market, it would be very helpful to exercise caution when investing because this market can be highly risky. For example, a crypto investor can lose all their savings in case of a market decline.
What's in This Guide?
- QUICK GUIDE: HOW TO BUY ENJIN COIN IN THE USA
- Where To Buy Enjin Coin (ENJ) In The USA
- A Step-by-step Guide to Buying Enjin Coin Tokens
- Store in a Crypto Wallet
- How to Sell Enjin Coin Tokens
- Things to Consider When Buying Enjin Coin Tokens in the USA
QUICK GUIDE: HOW TO BUY ENJIN COIN IN THE USA
- Open an account with a cryptocurrency exchange
- Verify your account
- Go to the deposit section
- Go to the platform and select Enjin Coin
- Enter how many Enjin Coin tokens you want to buy
- Check the details and confirm your purchase
Where To Buy Enjin Coin (ENJ) In The USA
Are you searching for how to buy Enjin in the USA? Well, there are hundreds of crypto exchanges and brokers in the USA. This can make it hard to know which platform is right for you.
List of the best Exchanges to buy Enjin Coin (ENJ) in the USA:
Looking where to buy Enjin in the USA right now? Below you will find 4 of the best brokers that allow you to buy ENJ in the USA.
- Binance - Best exchange to buy Enjin USA for asset diversity
- Coinbase - Best exchange to buy Enjin (ENJ) for beginners
- OKEx - Best broker to buy Enjin USA for low-cost
A Step-by-step Guide To Buying Enjin Coin (ENJ) In The USA
Follow the following steps to start buying Enjin Coin tokens in the US:
Step 1: Open an exchange account
The first step is for you to open an exchange account. There are several crypto exchange accounts in the USA, and all you need to find is the one that supports Enjin Coin tokens. You can find this information online, or you can consult with a financial expert on the matter. To open the exchange account, you will need to give out your official name, email address, telephone number, and physical address. For compliance with KYC rules, the exchange may ask you to verify your details by providing supporting documents to verify your identity.
To tighten or enhance the security of your exchange account, you must set a multi-factor authentication. The process will ensure another person will not gain access to your funds and your tokens without authorization.
Step 2: Fund the account
After you have registered, you have to deposit funds into the exchange account. Then, you can link your bank account directly with the exchange. The amount you want to spend is deducted immediately. On the other hand, you can also fund your account using other cryptocurrencies. As regards the latter, you will need to buy other cryptocurrencies such as Bitcoin and Ethereum. These are the most common cryptocurrencies found in any exchange.
Having purchased the alternative crypto that you wish to use to use to purchase the Enjin Coin tokens, the exchange will give you the option of exchanging them with other cryptocurrencies. You can then choose to exchange them with Enjin Coin tokens by selecting pairs listed as BTC/ENJ or ETH/ENJ.
Step 3: Buy Enjin Coin tokens
It entails the actual purchase of the Enjin Coin tokens. All you need to do in this step is to go to the buy section and then enter the number of tokens you would like to purchase. Confirm your transaction afterwards, and you will get a notification in your email about the transaction details.
You can set two types of orders to buy the tokens. The most common one is the market order that will enable you to buy Enjin Coin at the prevailing market prices. With a market order, the transaction is fulfilled instantly. When you want to buy Enjin Coin tokens using the limit order, the option allows you to buy the tokens at a set future price. The order will only be fulfilled when the market price for the Enjin Coin tokens reaches that price. Limit orders are ideal when you think the current market prices are too high and may drop soon.
Don't Miss: Enjin Coin Price Predictions
Store Enjin (ENJ) In A Crypto Wallet
Now that you have bought your Enjin Coin tokens, you need to store them in a crypto wallet to secure them from any interference. There are two main types of wallets, and these are online wallets and hardware wallets. The online wallet is mainly offered at the exchange, and it will allow you to hold your tokens as you wait to sell them as soon as prices appreciate.
You can also use the hardware wallet (cold wallet), which allows you to store your tokens in cold storage. Hardware wallets allow you to store your tokens offline on devices such as USB drives. In addition, cold wallets make them more secure for holding large volumes of Enjin Coin tokens.
How To Sell Enjin (ENJ) Tokens
After buying your Enjin Coin tokens and storing them for the duration you needed to, you will need to sell them when you want short quick returns from a sale. Then, just like buying, you can sell the tokens directly in the exchange.
First, transfer the tokens you intend on selling from the wallet to the exchange. Afterwards, go to the sell section of the exchange and the amount you want to sell. Either you can sell the tokens for USD or sell them in exchange for other cryptocurrencies. The amount you want to sell the tokens for may be lower or higher depending on the prevailing market prices. After selling your tokens, you can withdraw the money from the exchange and into your bank account.
Things To Consider When Buying Enjin (ENJ) Tokens In The USA
Some things that you need to consider before buying Enjin Coin tokens in the USA include the following:
History of performance
One of the most crucial considerations is how Enjin Coin tokens have been doing in recent years. By looking at the price history, you will see if the token has a specific stable price and let you know if the demand for that token is high or low.
Availability of the coin
Researching about the availability of the token is important. Availability is measured by the number of tokens that are in supply. When there is a high supply of Enjin Coin tokens in the market, it will ensure that its market is liquid and make it easier for you to buy and sell.
It would help if you also researched the high level of volatility a coin represents. For example, the prices of Enjin Coin tokens and other cryptocurrencies fluctuate, leading to great losses when the prices sharply decline.
Enjin Coin tokens are highly volatile, which is the main feature that defines all cryptocurrencies. Therefore, if you want to invest in this market, you should note a high level of risk associated with it. Reading this guide will equip you with all the knowledge you need to know about buying Enjin Coin tokens in the USA.
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. This is not meant to be tax advice or financial advice of any kind. The above information we compiled from online tax forums. Please, consult a CPA or lawyer if you have questions about filing your tax return, forms to use, or what is/is not taxable. eToro is not a tax advisor.