ENJ is a native cryptocurrency of the Enjin platform. Enjin Coins are ERC-20 tokens existing on the Ethereum network. The Enjin platform is primarily used by game designers and NFT artists who integrate ENJ in their projects. At the same time, ENJ can be utilized by businesses and consumers as a means of payment. ENJ has many cool features making it a solid payment solution. NOWPayments provides tools to companies and individuals who wish to accept ENJ payments.
Key points:
- ENJ is the native currency of Enjin.
- ENJ transactions are global and private.
- NOWPayments helps businesses to accept ENJ payments.
Benefits of Enjin
Liquidity
Enjin coins are available on many large mainstream exchanges. This means that users have no problem getting hold of ENJ tokens. Owners of ENJ do not have trouble exchanging their coins for other assets.
Peer-to-peer
All ENJ transactions happen on a peer-to-peer basis. As a result, there are only two users involved in every ENJ transaction. This way, both the sender and the recipient enjoy better privacy.
Security
The Ethereum network is a blockchain with world-class security and protection mechanisms. Since ENJ is deployed on Ethereum, users are guaranteed that their coins will not magically disappear overnight and will be safe.
Easy NFT-making
As mentioned above, Enjin focuses on NFTs. Therefore, all ENJ owners can use their coins to mint NFTs. Moreover, they also can melt them back and keep their coins.
Transparency
Finally, Enjin is a transparent platform as the majority of blockchains. Subsequently, ENJ holders have the ability to monitor the development of Enjin, as well as to track the basic info about their ENJ transactions.
Ways to upgrade your business using Enjin
Facilitate cross-border transactions
Businesses whose products are in high demand all over the world often encounter problems with the processing of orders of foreign clients. Companies tend to focus on domestic customers and they usually do it while neglecting the international ones. For instance, the payment options which are convenient for the domestic clientele can be extremely hard-to-use for the foreign one. Systems such as PayPal seek to solve this problem, functioning as universal payment-processing solutions, yet they also entail many limitations. One such drawback is the speed of transactions. PayPal money transfers can take days, since they fully depend on banks and their actions.
Yet, by deploying cryptocurrencies such as ENJ, businesses can address the issue of slow transaction speeds. The use of crypto payments is perfect for businesses that have international clients because it can greatly facilitate the processing of orders.
One ENJ transaction takes no more than a couple of minutes which guarantees that a business will receive a payment from its customer quickly. Moreover, the speed of ENJ transactions does not change depending on the distance between the sender and the recipient and remains stable. As a result, thanks to ENJ, businesses can receive payments from people in any part of the world in a fast manner.
Let clients keep their privacy and security
The concern for online privacy has been growing steadily over the past years. News about hacks, database breaches, and information leaks forces people to embrace stronger security mechanisms. Financial services are among the main targets of criminals. Such services keep a great deal of personal information of people and have access to their funds. In the case of a hack, clients of the mainstream financial services risk losing all of their money and getting their sensitive information exposed to the wider public.
Cryptocurrencies, on the other hand, serve as a more private and secure alternative to the traditional financial services. First of all, the use of cryptocurrencies does not imply disclosure of private information. In other words, to start making crypto transactions, one does not need to share their identity information with the blockchain. Moreover, to ensure that their coins are safe, people only need to keep them in non-custodial wallets and protect their private keys. This is why cryptocurrencies are a preferred payment solution for so many people. Businesses can integrate ENJ payments to let their clients use a private and secure payment method.
Mint your NFTs
Gamification is a new trend in the business environment. While some companies spend millions of dollars on their gamification products, is not the only path businesses can take. The crypto industry and especially the Enjin platform offer an excellent low-cost gamification solution. Specifically, companies can use ENJ coins to mint NFTs for their clients. NFTs are non-fungible tokens, which are unique and cryptography-based.
NFTs can be utilized in a variety of cases. For instance, businesses can mint a collection of Enjin-based NFTs and distribute them among those clients who decide to pay for their products with crypto. NFTs also can be used as rewards for long-term customers. So, businesses can accept ENJ tokens and turn them into NFTs to give back to their loyal clients and thus generate even higher profits and attract more clients.
Get new clients onboard
Gamification is not the only way to get more clients. The crypto community in general is extremely supportive. This also translates into the willingness of crypto enthusiasts to help to advance the crypto adoption. This is why companies that feature crypto payments may see an influx of new clients. Enjin has an amazing community of investors and users. So, businesses that offer them a chance to spend their ENJ tokens on products and services can expect a ton of gratitude in return. It is the ultimate dream of every crypto investor to be able to pay with their crypto funds for different products that previously could be purchased only with fiat. By featuring ENJ payments, companies can make crypto investors’ dreams come true.
Lower fee expenses
All businesses know that bank and other transaction fees constitute a substantial share of their expenses. Although fees are annoying, companies have come to treat them as par for the course. When using the traditional payment systems, fees are regarded by businesses as a nuisance which is out of their control and therefore must be simply tolerated.
Yet, cryptocurrencies such as ENJ can solve this problem and enable merchants to bring down their fee-related costs. ENJ transaction fees are much lower than those of the major banks. Moreover, ENJ transactions entail only one form of fee, while payment processing solutions such as PayPal involve paying several types of fees. Lower fees are beneficial for both merchants and their clients.
How businesses can accept Enjin
In order to accept ENJ payments efficiently, businesses can use NOWPayments.
Online merchants can install special plugins which are designed specifically for the following platforms: PrestaShop, WooCommerce, Magento 2, WHMCS, OpenCart, Zen Cart, Shopify, and Shopware. Plugins automate all payments and let companies get ENJ payments.
Businesses also can issue crypto invoices and use a virtual Point-of-Sale terminal. Such tools let merchants get more control over their crypto payments. Moreover, there is an option of featuring subscription-based crypto payments.
Charities, bloggers, and non-profit organizations can use donation widgets, buttons, and links to accept ENJ donations
Conclusion
Cryptocurrency payments are a reliable way for businesses to reduce their fee expenses and facilitate global payments. ENJ is a cryptocurrency which can fit perfectly into the payment infrastructure of modern businesses. NOWPayments provides tools for accepting ENJ payments.