How to buy Enjin (ENJ) from Australia

By   |   Verified by David Boyd   |   Updated 29th August 2022

  • Enjin was designed to facilitate transactions in games.
  • Used to mint NFTs such as in-game upgrades, addons, and limited edition collectibles.
  • Enjin's token, ENJ, has experienced strong growth in value since launch.

Get a step-by-step guide to buying Enjin for Australian investors and traders.

Where to buy Enjin

Swyftx

On Swyftx's website

Highlights

  • Receive $10 worth of BTC when you sign up and verify your account.
  • Trade over 260 assets on Swyftx including Bitcoin, Ethereum, Ripple and Litecoin as well as DeFi coins such as UniCoin.
  • Deposit or withdraw funds from your account using several payment methods (PayID, OSKI, POLi or bank transfers).
  • New to Crypto? Try Swyftx's demo mode, it allows you to mock trade with no financial risk while you learn the ropes of crypto trading.

Pros

  • Trade more than 300 crypto assets through the Swyftx platform.
  • Offers tight spreads and low trading fees.
  • Get support within 5 minutes through their live chat.
  • Practice trading with a demo mode.

Cons

  • Lacks access to advanced trading markets.
Digital Surge

On Digital Surge's website

Highlights

  • Trade 270+ crypto assets in a clean design that's easy and fast to use.
  • Live chat support available 7 days a week with average response times of less than 1 minute.
  • Invest in crypto for your SMSF and get ATO compliant reporting.

Pros

  • Quick sign-up and verification process.
  • Fees are low and the fee structure is clear.
  • Has an Australian-based support team.

Cons

  • For fiat deposits, AUD is the sole choice.
CoinSpot

On CoinSpot's website

Highlights

  • Buy Bitcoin, Ethereum, XRP and over 370 other digital currencies.
  • Refer a friend and earn $10 BTC.
  • Get 24/7 helpdesk support.

Pros

  • Trade for only 0.1% and withdraw in AUD for free.
  • Multiple deposit options.
  • Access CoinSpot NFT Marketplace.
  • CoinSpot is regulated by AUSTRAC and is ISO certified

Cons

  • Margin trading is not available.
eToro Crypto

On eToro's website

Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.

Highlights

  • Access thousands of assets across multiple categories.
  • Copy trades of popular investors that trade Crypto.
  • Access powerful analysis tools and innovative social features.

Pros

  • The user-friendly website and app make it easy to trade from anywhere.
  • Trade Bitcoin, Ethereum, and 60+ other crypto assets.
  • With its CopyTrader feature, you can replicate the moves of other investors.
  • Start trading with just $10.

Cons

  • There is a 1% fee that is added to the market price.
  • Other exchanges have more selections of crypto coins and tokens.
CoinJar

On CoinJar's website

Highlights

  • Buy and sell digital currency on desktop and mobile devices with a flat 1% fee.
  • Buy digital currencies using your Visa or Mastercard with a low fee of 2%.
  • Set up price alerts so you never miss a well-timed opportunity.

Pros

  • Extremely user-friendly interface.
  • You can use a credit card or debit card to buy crypto.
  • Has a competitive fee structure.

Cons

  • Limited crypto tokens to trade compared to other platforms.

Step 1: Pick an exchange where Enjin is listed

Since it is an established projected with real-world application and adoption, a growing number of exchanges have listed Enjin.

When comparing exchanges to buy Enjin, consider features other than the breadth of choice. Security features (2FA, account recovery, etc.), fees to deposit and withdraw, spreads, etc. all come into play. For more advanced investors, features such as the ability to stake, trade on margin, speculate on futures, and buy NFTs are important considerations.

Step 2: Sign up and get verified

After you've decided on the best place to buy Enjin, you'll need to sign up for an account and then verify your identity.

Information that's typically required includes your complete name, date of birth, as well as your street address. While some exchanges do not require ID checks, most do because of their duty to oblige by regulation where you live. Therefore, it's quite likely that you will be asked to prove your identity with a copy of your driver's license or passport, or any other government-issued ID.

Step 3: Fund your account

You can fund your account in a number of ways. If you already hold crypto assets elsewhere, you can send those to your exchange wallet and trade them for Enjin.

For most people, the easiest option is to transfer fiat currency (AUD) from your bank account or credit / debit card. Some exchanges also support transfers via Osko, PayPal, PayID, POLi, and others. It could take a few days before funds are deposited and cleared into your account by the exchange, especially for new accounts. A minimum deposit might be required to open an account.

Step 4: Set a budget

How much Enjin do you want to buy? Choose the amount you want to invest in Enjin and stick to it. The price of altcoins such as Enjin — and crypto in general — can be quite volatile, so it is recommended to only invest what you are comfortable with potentially losing.

Step 5: Buy Enjin

The easiest type of order is the market order, i.e. purchase Enjin at the current market price. Many exchanges have more complex order configuration, providing you with the option of putting together an order to execute only when certain conditions are met.

Recurring orders are also available at most exchanges, giving you a way to automatically buy more Enjin on a regular basis so you can get the benefit of dollar cost averaging.

Where to store your Enjin

The most convenient place to keep your Enjin — especially if you want to trade the market quickly — is in the hot wallet at the exchange where you bought them. It's easy to transfer them out to a wallet you control at a different exchange or to a hardware wallet at a later date. Hot wallets are less secure than hardware wallets, which are physically disconnected from the internet and protected by a unique key.