Philippine-based crypto wallet and exchange Coins.ph announced the availability of cryptocurrency coin Enjin (ENJ) on its application, the utility token used to back the value of blockchain assets line non-fungible tokens (NFTs) minted on the Enjin platform.
Enjin aims to reduce high fees in transferring virtual in-game goods and collectibles.
It allows its users to create digital assets on the blockchain and integrate these items into games and other apps.
Enjin launched ENJ in 2017 together with Enjin wallet that can be used to buy, sell, and trade assets on its marketplace.
ENJ is also an ERC-20 token compatible token launched in 2017, which means an Ethereum wallet can be used in sending, receiving, and storing ENJ.
It has a more focused use case for games, NFTs, and other assets on its platform; it enables in-game items to be transferred to other players or in the marketplace.
For instance, a MMORPG player buys an item in the Enjin marketplace using ENJ, the item is also usable to other games like Lost Relics, Spirit Clash and others, and can be traded or sold to the marketplace again in ENJ.
At the time of writing, ENJ’s value is $0.630077 with a market cap of $588,880,617, according to the data of CoinGecko.
The addition of ENJ Coin made the total number of cryptocurrencies available to buy, sell, and store on the Coins.ph application to 20.
Together with ENJ, other cryptocurrencies available in the app are BTC, ETH, AXS, SLP, BCH, XRP, USDC, LINK, KNC, MKR, UNI, AAVE, USDT, MATIC, SAND, CHZ, YGG, APE, and GALA.
Coins.ph also is also the official crypto partner of the first professional league in Asia, the Philippine Basketball Association (PBA).
Coins.ph is regulated by the Bangko Sentral ng Pilipinas (BSP) and holds both Virtual Currency and Electronic Money Issuer licenses in the Philippines.
This article is published on BitPinas: You Can Now Buy Enjin on Coins.ph
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