The Enjin Coin (ENJ) is a blockchain and cryptocurrency platform created basically for the gaming industry, particularly the video game industry. It was designed by Enjin on the Ethereum blockchain. Established in 2009, Enjin is a company that has helped more than 20 million gamers build sandbox communities and forums around their best games. It has a total of 12.4 million ENJ locked-in assets.
The creators of this platform have said they are building a product ecosystem that will assist humanity in designing advanced virtual economies using the power of blockchain technology. It has also been created to make the usage of non-fungible tokens (NFTs) easy for individuals, brands, and businesses.
Best Staking Exchanges In 2023
- Uphold – Claim Bonus
- Crypto.com – Claim Bonus
- Nexo – Claim Bonus
- Binance US – Claim Bonus
- Kraken – Claim Bonus
Benefits To Staking Enjin Coin
– Earning amazing interest in the platform’s investment is possible when you stake your Enjin Coin. This is a profitable way to grow your investment over time, and yes! What a great way to gain some passive income.
– Staking the Enjin Coin guarantees ease and convenience – no stress. Once you have your wallet that supports staking (don’t even waste time settling in), you can immediately begin earning attractive rewards.
– Another benefit is that you help the Enjin network in the area of stability and high-quality security provision when you stake. You sure would not want to invest in a weak platform. So yeah, you’re indirectly a security manager.
5 Best Exchanges To Stake Enjin
1. Uphold
Uphold is considered to be one of the safest ways to buy cryptocurrency by many digital asset experts. Since launching in 2014, Uphold has maintained an exemplary reputation for security among its customers. The site is unique in the sheer amount of assets it offers. They provide quite alot of coins for staking rewards. You can get started on Uphold here.
Pros
- Available in more than 180 different countries
- Transactions sent between Uphold users are completely free
- Huge list of cryptos available
Cons
- Fees are unclear in certain buy and sell spreads
2. Crypto.com
Crypto.com was initially created as “Monaco” in 2016 but was renamed Crypto.com in 2018 after purchasing a domain valued at between 5 and 10 million US dollars by domain sellers. As a cryptocurrency exchange, the company deals with investing, NFTs, wallets, staking, and trading, among others. Offering over 250 different currencies, the company’s ecosystem of crypto-like products makes it possible for those seeking to do various things with their cryptocurrency to make a good choice. You can get started on Crypto.com here.
Pros
- Reliable and transparent platform that provides competitive trading prices of up to 0.40%
- You can swap, stake, or trade on Crypto.com while also being offered a crypto wallet and credit card
Cons
- You may not get discounts on the platform’s trading fees if you do not hold a CRO as a Crypto.com user
- You may experience some difficulties in trying to navigate trading discounts
3. Nexo
Nexo is a blockchain platform that supports crypto lending and borrowing. It is a system where you can access high-yield interest accounts and Immediate Crypto Credit Lines anytime through your Nexo Wallet App. It supports both Android and iOS. bFounded in 2018, this blockchain system is fortified with a world-class security infrastructure well designed to provide top-quality protection for your assets 24/7. You can get started on Nexo here.
Pros
- An all-in-one avenue to engage all your crypto needs.
- Nexo digital assets are up to 16% APY
- Borrowing on this blockchain system is fast and easy
- Nexo’s ecosystem is easy to understand for newbies. You can easily navigate the platform when you register and use the app, even if you have zero knowledge of what is done on it
Cons
- Live chat as support is non-existent
- The verification required before using any service on this system is strict
4. Binance US
Binance US is rated as the world’s largest cryptocurrency exchange by trading volume and is an American partner of Binance. The Binance US remains an interactive platform to transact crypto within the US. Digital assets to trade with here are limited in terms of selection. While its trading fees are quite low when compared to fellow competitors. You can get started on Binance US here.
Pros
- Customers are adequately provided with high liquidity on Binance US
- This platform charges 0.1% in transaction fees
- The operation of the Binance.US is fast as it uses the same technology Binance uses. In a second, this technology processes 1.4 million orders
Cons
- Selection of staking coins available could be bigger
- There is a limited choice of cryptocurrency for you to trade
5. Kraken
Kraken was one of the first bitcoin exchanges to show up on the Bloomberg Terminal back in the early days of crypto. Today, it’s the fourth largest crypto exchange in the world. It’s also a popular choice among new and experienced crypto stakers alike, in no small part thanks to its attractive yields.
Another reason for Kraken’s popularity is the user interface, where users can easily find account information and change their settings. Its staking program is also highly flexible: coins can be staked and unstaked without a fee since there is no lock-in period. You can get started on Kraken here.
Pros
- Possibility to borrow against cryptocurrency
- A wide range of cryptocurrency trading pairs
- Great mobile app
Cons
- Services are restricted in a few states
Added Benefits To Staking Crypto
One of the major benefits of staking cryptocurrency is the ability to earn more crypto with amazing interest rates. For instance, your earnings could be to the tune of over 10% or 20% every year. That is a very perfect way to invest your money. And to get this done, all that is needed is a crypto that uses the proof-of-stake model.
When you stake on a cryptocurrency you invested in, you are also supporting its blockchain because cryptocurrencies bank on the stakes of holders to get transactions verified and ensure everything happening within the platform is as seamless as possible.
Other benefits are:
- Crypto staking has been more environmentally accommodating than Crypto mining
- By staking in Crypto, you are simply helping to maintain the efficiency and security of the blockchain.
- You are allowed to participate in governance through the staking process. It means you can vote on proposals that will enable you to have a say in shaping the future of the Enjin network.
Final Thoughts
Staking cryptocurrencies is about dedicating your crypto assets to support a blockchain network while also confirming transactions. The Enjin Coin is a great asset you can stake to enjoy a whole lot of benefits already stated above. There are also various exchanges where you can stake. Some have the Enjin listed while others do not.
Generally, it is important that you have a thorough understanding of any platform you intend to do your staking. Always remember that the cryptocurrency market is a volatile one, and there are risks involved in the activities that go on within the market.
