Welcome to this post, where we are going to see how you can buy Efinity Token in an easy, simple and fast way, avoiding high commissions and on reliable platforms. Without complications, so you can be the owner in a few minutes of this cryptocurrency, even if you are new to the crypto world.Â
After the guide on how to buy this cryptocurrency, you can find more information about the project, so you can learn more before buying and have as much information as possible.
Where to buy Efinity Token
For this, I am going to use two platforms, Binance and gate.io, where you can find all the links just below. You can see below a step by step video on how to do it.
If the video is not available, you will also find a step-by-step in this article so you won’t get lost at any time. If you do not have an account with either platform, you can create one just below to follow the steps in the guide.Â
Step by Step
Efinity Token can be found in few exchanges, and it is possible to find it also in Uniswap, although you will find high ethereum fees to buy it, ranging from $50 to $300 for just buying the cryptocurrency. Therefore, the best option is to use the centralized Exchange, such as gate.io that has this cryptocurrency listed.
The first thing we have to do is to deposit funds in our gate.io account. In order to have funds in gate.io, the best option is to send them from another Exchange, since the platform does not have the option to buy cryptocurrencies by credit card or wire transfer. You can check if they have already enabled this option in gate.io and thus save you the step of using Binance. If this is not the case, simply follow the steps that we will now see.Â
For this, I am going to use binance, and I am going to send tether (USDT), since it is the cryptocurrency we are going to need to buy Efinity Token.
In my case, I already have USDT in my binance account, if you don’t know how to buy it, once you have deposited your currency, in my case euros, look for the eur/usdt pair or your currency. Click on this pair, in the computer you must go to markets and fiat markets, and with the mobile in markets, next to home.Â
Once in this pair, we must click on sell, indicating the amount we want to change our currency for USDT. Indicate the amount, click on sell and you will have USDT in your balance.Â
With the usdt, go to wallet, spot wallet and click on withdraw.
Now we must go to gate.io, and go to deposit. In deposit we will look for USDT. Here, we click on the tron/TRC-20 network, among all the networks, as it has the lowest commissions and costs only one dollar commission. Copy the address and paste it into binance. Once in binance, enter the address, the tron network, trc-20 and the amount to withdraw the usdt. We confirm with our email and cell phone, and that’s it. Remember to indicate the trc-20 network to save on commissions and not have any problems.
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
At this point, you must wait for the USDT to appear in your gate.io balance, it usually takes a few minutes until you have it ready to use. Once they appear, go to my funds, search for usdt or tether and click on trade.
You will see the panel to buy and sell cryptocurrencies, here, search for EFI, and you will see the EFI/usdt pair. We go down and indicate the amount of Efinity Token we want to buy. Here, if you want to use all your usdt, just click on the number above and the total will be placed. At the top of Price you will see the current price of the cryptocurrency. With the amount indicated, just click on the buy button.
Sometimes the order may take some time to be executed, if you want to buy instantly, I recommend you to click on the price and indicate +1%, and the same when you want to sell and you want the operation to be executed instantly.Â
Now, you will own Efinity Token, and to check it, you can go again to my funds to see the amount you have. Once you want to sell it, we must go back to the same panel above, but this time we will go to the red sell button. We indicate the amount we want to sell, and click on sell. This way, you can have USDT again and send it to binance to withdraw it to your bank account.
Platform: Gate.io
Min. Deposit: $10
License: Cysec
New cryptocurrencies (ICO’s)
Growing exchange
What is Efinity Token?
Enjin was founded in 2009 by Maxim Blagov and Witek Radomski. Over the next decade, they organically grew their first product, the Enjin Network, to over 20 million players worldwide.
In 2017, the company hosted a successful Enjin Coin (ENJ) ICO, and began pioneering a vision for non-fungible tokens (NFT). Establishing itself as a world-class blockchain developer, Enjin began building a holistic ecosystem of user-first products that anyone can use to easily develop, trade, monetize and market with blockchain and NFT.
The Enjin Platform, Wallet, Marketplace, Explorer and Beam make up this integrated blockchain ecosystem, and provide the tools and solutions developers and businesses need to tokenize digital assets and integrate them into software.
Creators, developers and pioneering companies such as Microsoft (Azure Heroes), Samsung (Samsung Blockchain Keystore) and BMW (Vantage), have integrated Enjin’s products and services.
As of July 2021, more than 800 million ENJ are owned by more than 125,000 individuals worldwide (excluding exchanges), with a market capitalization of $1.5 billion.
ENJ recently made headlines after being approved by Japan’s financial regulators and listed on CoinCheck in January 2021, making it the first gaming token approved for use in Japan under the JVCEA.
Enjin is developing Efinity, a next-generation blockchain for digital assets, built on Polkadot.
Companies and developers are in serious need of a platform that can deliver a modern, mainstream and developer-friendly NFT experience. Since the launch of Ethereum, there have been attempts to build infrastructure and tokenization around this general purpose computing blockchain, but there is a growing thirst for a better solution.
Creators are forced to work with crippling fees, inflexible smart contracts and disjointed interoperability. Adoption of today’s NFTs remains limited to diehard cryptocurrency enthusiasts.
Blockchains on which non-fungible tokens live offer real users no incentive (other than rising prices), because miners receive the entirety of the tokens generated. Prices go up, infrastructure companies create silos and paywalls, and it becomes difficult to make real progress in this industry – unless we can unify the community and think a little differently.
Efinity is built to solve these problems.
Fees
Blockchains like Ethereum have become expensive. The average user can pay upwards of $7 to move a single token.
The purpose of Efinity is to be an NFT highway, not a general computing blockchain. Token creation, transfers and purchases are the network’s priority.
Transaction fees on Efinity are designed to remain in the background and allow users to experience their favorite tokens without worrying about network performance.
Incentives
Ethereum and Bitcoin reward miners with coins for securing the chain, but there are no similar incentives in the NFT sector to fuel its growth and development.
Efinity compensates network participants with the EFI token:
Collector nodes that drive the network.
Users who govern the direction of the network.
Buyers and sellers who facilitate price discovery.
Developers proposing projects built on Efinity are eligible for grants from the Community Pool.
Early adopters and creators increase the value of their tokens with bonding curves and liquidity.
Network effects.
Blockchains and fragmented marketplaces lead to walled gardens that compete for liquidity and harm the growing digital metaverse.
Efinity will be a hub for all fungible and non-fungible tokens. The Paratoken standard accepts tokens from any other chain, including the popular ERC-721, ERC-1155 and ERC-20 standards.
The network that solves the challenge of facilitating the pricing and exchange of NFTs will naturally gain traction, because it will create network effects by attracting increasing volumes of transactions.
Tokens do not need to be for sale or even exist on the network to receive an offer. In fact, users can be compensated for initiating buy or sell orders (as described in the Marketplace section below) and stimulate use of the network by initiating transactions that can be completed by other users. This mechanism will naturally attract buyers and sellers to join the network and create network effects by encouraging users to initiate transactions. This functionality is intended to be developed by third party applications that facilitate transfers within other platforms such as games or function as NFT marketplaces.
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
