How To Buy Enjin Coin (ENJ) In Australia

Last Updated May 9th 2024

5 Min Read

A Beginner’s Guide to Buying and Selling Enjin Coin Cryptocurrency in Australia

If you’re based in Australia 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.

When you want to start investing in cryptocurrencies, it is imperative that you first conduct thorough research and gain the required knowledge necessary for making the right investment choices. Enjin Coin is one of the most popular cryptocurrencies in the market.

The Enjin Coin token is popular for its incredible contributions to decentralized finance. It is based on the blockchain network. The major competing tokens for Enjin Coin are Bitcoin, Ethereum, and Bitcoin Cash.

What’s in This Guide?

The following guide serves to instruct and inform any crypto trader who wants to invest in Enjin Coin to know how to buy, sell, and store Enjin Coin tokens. The guide is well-detailed to ensure that even a beginner can understand all the steps involved. Nonetheless, suppose you are unsure of investing in crypto. In that case, you need to first consult with a financial advisor to understand all the stakes involved. Firstly, investing in cryptocurrencies is very risky, and sometimes traders lose their money.

How To Buy Enjin In Australia – Quick Guide

To help you buy Enjin coins as quickly as possible, we broke the process down into a few easy steps:

Step 1: Open an account with eToro – Head to eToro’s website and click join now to open a new account.
Step 2: Verification – By uploading essential documents that show proof of identity and home address, you will get your account verified in a short time.
Step 3: Deposit – Fund your new eToro account with a minimum of $10.
Step 4: Search for Enjin on eToro – Search for ENJ or Enjin in the eToro crypto market.
Step 5: Buy ENJ – Enter the amount of the worth of Enjin you want to purchase in United States Dollars (USD), then click Open Trade.

That’s it! By following these easy steps, you can invest in Enjin in Australia in less than 5 minutes.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Where To Buy Enjin Coin In Australia

Supposing you want to buy Enjin Coin in Australia, look for a crypto exchange account. An exchange account is the most reliable and convenient avenue for such kind of transaction. There are several crypto exchanges in the country, and you research the ones that support Enjin Coin and AUD.

List of the best Exchanges to buy Enjin (ENJ) in Australia:

Looking where to buy Enjin in Australia right now? Below you will find 4 of the best brokers that allow you to buy Enjin in Australia.

eToro - Best broker to buy Enjin (ENJ) in Australia
Binance - Best exchange to buy Enjin in Australia for asset diversity
Coinbase - Best exchange to buy Enjin (ENJ) for beginners
OKEx - Best broker to buy ENJ in Australia for low-cost

A Step-by-step Guide To Buying Enjin Coin In Australia

You can buy Enjin Coin tokens in Australia using either one of the two following approaches:

Buying Enjin Coin with other cryptocurrencies

The first approach that you can use to buy Enjin Coin entails exchanging them for other cryptocurrencies. All you need is to buy other cryptocurrencies and then exchange them for Enjin Coin. Unfortunately, this option is not available on all exchanges.

For instance, if you want to buy Enjin Coin using Bitcoin, look out for the pair labelled BTC/Enjin Coin, and this will exchange your Bitcoin with Enjin Coin tokens.

Buying Enjin Coin using fiat currencies

The second approach that you can use to buy Enjin Coin is by using fiat currency and, in this case, the AUD. As mentioned earlier, before registering with an exchange, ensure that it supports AUD.

Follow the following steps to start buying Enjin Coin tokens in Australia:

Step 1: Register with an exchange

You must first own an exchange account. Owning an exchange account requires that you find one that works for you and sign up. Australia has several crypto exchange companies. All you need to do is choose the company that best suits your needs and supports Enjin Coin and AUD. Some details are required to open the exchange account, including your name, telephone number, email address, and more.

Cognizant that there are compliance measures in play that serve to govern or regulate crypto exchanges, you will also be required to verify some details you have provided through basic KYC rules. To verify, you will need supporting documents such as a government-issued ID, proof of address, and others.

When setting up the account, you need to set a strong password and multi-factor authentication to ensure that you keep your account safe from any third-party interference.

Step 2: Fund your account

Funding the account is the second step and one that is very important too. Funding the account enables you to buy the Enjin Coin tokens. To fund the account, link your bank account to the exchange, or you can also link your credit card or debit card.

Step 3: Buy Enjin Coin

Now that you have funded your account with either AUD or other cryptocurrencies, you can now buy the Enjin Coin tokens using fiat currency or exchange the other cryptocurrencies in your possession for Enjin Coin tokens. If you wish to buy using cryptocurrencies, select the pairs matched against Enjin Coin. These pairs will be listed as ETH/ENJ, BTC/ENJ, and others. For example, to buy with AUD, you can select the pair written AUD/ENJ.

Having selected the pairs, you would like to exchange with, confirm your transaction. An email will notify you that the transaction has been processed.

Don't Miss: 5 Reasons Why Enjin Could Double Your Money

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

How To Sell Enjin Coin

To sell the Enjin Coin tokens, sign in to your exchange account and go to the sell section of the exchange. Afterwards, you can select the amount you want to sell and receive funds to exchange the tokens. On the off chance that the exchange does not support the exchange of Enjin Coin to AUD directly, you can exchange the tokens for other cryptocurrencies that you can later sell for AUD. Once you have your funds back, you can later withdraw them from the exchange account.

Which Wallets Can I Use To Hold Enjin Coin?

One of these wallets that you can use to hold the Enjin Coin tokens is the online wallet. This wallet will store your tokens online. Online wallets are also known as hot wallets, and they allow you to withdraw and sell your crypto whenever you want to. The other type of wallet is the cold wallet. A cold wallet allows you to hold your Enjin Coin tokens for a long time without selling them. Cold wallets are safe because they store your tokens offline on external devices such as a USB drive.

How Enjin Coin Works

Like other cryptocurrencies, Enjin Coin is based on blockchain, giving it a decentralized feature that allows it to be bought and sold without an intermediary. Decentralization makes financial transactions easier, cheaper, and faster.

Read Also: Enjin Coin (ENJ) Price Prediction

Key Things To Consider If You Are Thinking About Buying Enjin Coin In Australia

Some things you should consider before buying Enjin Coin in Australia include:

Availability

You should always select the tokens with a high supply circulation in the market because this will enable you to buy and sell at will.

Usability

The most promising tokens are those used for purposes other than trading. Conduct research on whether Enjin Coin can support other DeFi projects because this will raise its future value.

Volatility

Every cryptocurrency is very volatile because its prices will keep changing. Therefore, you need to invest in Enjin Coin if you are aware of the high risk involved.