Learning the friendly way

Freelancing is a popular career choice that has grown significantly in recent years due to the rise of the gig economy and the increasing availability of remote work opportunities. The freelance market is made up of self-employed individuals who work independently and provide their services to clients on a project-by-project basis. 

This type of work provides a great deal of flexibility and control over one's own schedule, workload, and earning potential. However, like any career choice, freelancing has both ups and downs. Below we explore what a freelance career might look like, and provide tips on how to be your own boss and a successful freelancer.

What is the gig economy?

The gig economy is a labor market where temporary or flexible jobs are common, and independent workers work on a project or task basis rather than being employed by a company or traditional employer on a long-term basis. 

This type of work is often conducted through digital platforms or apps that connect workers with clients who need their services. Freelance platforms include the likes of Upwork, Fiverr, and Freelancer.com for instance. 

Gig economy jobs can range from driving for ride-hailing services to performing freelance writing or design work. The freelance business allows individuals to work when and where they want, providing them with a great deal of flexibility and control over their work schedules, essentially making them their own boss. 

However, it also comes with challenges such as a lack of job security, no benefits or protections, and potential fluctuations in income. While freelance work sounds attractive, it’s important to consider the skill set needed and whether the ups outweigh the downs in relation to your specific needs and wants. 

Being realistic about freelancing

The freelance business has gained a reputation for offering a very attractive lifestyle, but it still takes work and requires a number of skills and commitments that you, and you alone, will need to front. 

Organization skills

For a successful freelancer, being organized and managing your time effectively is crucial. This means staying on top of your tax obligations, keeping your documents in order, and ensuring that you meet all deadlines. 

Multitasking

In addition, multitasking is a necessary skill for most freelance workers, as you'll likely have to juggle multiple projects simultaneously. This requires effective task prioritization and the ability to switch between different topics seamlessly. 

Strong communication 

Good communication skills are also essential for success, as you'll need to handle difficult clients and know how to ask for guidance when needed. Effective communication is also crucial to a successful freelance career as you will likely need to take the initiative and approach potential clients for work. Promoting your skills and putting yourself out there also requires courage and self-confidence. 

Self-discipline

Perhaps the most crucial for a freelancer freelancing in this day and age is self-discipline. No matter what line of work you pursue, you'll need to stay focused and avoid distractions while working independently, whether it's the temptation of a nap or a social interaction.

The freelance lifestyle may sound flexible, but in reality (more often than not) it is still a full-time job as you are essentially running your own business.

Handle criticism 

Being able to handle constructive criticism is an important trait for freelancers, as you'll often need to accept and respond to feedback that isn't always positive. Remember, even talented freelancers producing high-quality work receive negative feedback.

Self-motivation

Being self-motivated is key when working as a freelancer, as you'll be responsible for managing your own work schedule and meeting deadlines without the guidance of a manager. If you prefer a more social work environment, freelancing may not be the best fit for you as it often involves working independently. 

Financial resilience

Finally, new freelancers should be prepared to have a certain level of financial resilience as there can be uncertainty about when their next paycheck will arrive. When they start freelancing, quiet periods of contract work can be anxiety-inducing for some people.

The upside of freelancing

On the positive side, freelancing allows individuals to work from anywhere, giving them the flexibility and autonomy to balance work and personal life. 

One of the primary advantages of freelancing is the ability to take control of your work schedule. You have the freedom to choose when and where you work, making it much easier to balance your professional and personal commitments. 

Freelancers having the freedom to select their own projects means that they have a great deal of control over the type of work they do, far more than a regular job. You can choose to work on projects you enjoy and are passionate about, and have the ability to set your own rates and choose clients that align with their values. 

Additionally, freelancers have the potential to earn more money than traditional full-time employees as they have the ability to work with multiple clients simultaneously and charge higher rates for their specialized skills.

Another benefit is that your earnings are directly related to your effort and the quality of your work, which gives you a real sense of achievement that you might not feel working in a traditional office environment.

When done right, freelancing can offer a great deal of professional and personal fulfillment. Before you start full-time freelancing, however, be sure to understand the bigger picture of what is required.

The downside of freelancing

One of the most significant challenges for many freelancers is that it can be financially unpredictable, as one's income can fluctuate from month to month, paired with a lack of job security. Additionally, there are no paid vacation days, sick leave, or other benefits that traditional employees enjoy. 

As a freelancer, you'll need to ensure that you're always available to communicate with your clients, which can require a certain level of flexibility. On top of that, freelancers might also need to continuously search for new clients and projects on online marketplaces to maintain their income. 

If you venture into the world of freelancing, it’s important to note that you will also be responsible for all administrative tasks, including accounting, invoicing, tax obligations, and chasing payments, which can be time-consuming and require a great deal of attention to detail. 

Another issue is the isolation that can come with working independently, as freelancers often work from home or their local coffee shop and may not have the same social connections as traditional employees.

Overall, freelancing can be a rewarding career choice, but it requires a significant amount of self-discipline, motivation, and business acumen to be successful. It's important for individuals considering freelancing to weigh the benefits and drawbacks carefully before making the leap.

If you’re unsure whether freelancing is for you, consider slowly taking on one or two freelancing jobs while still working your traditional 9-5. This way you can test the waters with first-hand experience and see if this is something you would like to pursue full-time. 

10 steps to kickstart your successful freelancer career

If you’ve decided to take on a slow transition or full-time shift to freelancing, we’ve put together these 10 steps for you to take in order to build up your portfolio. From finding work on freelancing websites to managing the workload and establishing pricing, here are the tools you’ll need to build your freelance business. 

Step 1: Find your first job

Freelance work can be found through online freelancing platforms, which are a popular option for both freelancers and clients, with recent data showing that 75% of freelancers find work this way. Explore the various freelancing platforms and find which one best caters to your needs. 

Step 2: Build a portfolio of freelance work

To create a successful freelance profile, it needs to make a strong impression and showcase your skills, experience, and personality to potential clients. Consider taking on smaller projects in the beginning that will display your skill set to gain experience. The more you can show, the more interest you can attract. 

Knowing which freelance projects to take on and how to write a winning proposal can be crucial in securing steady work and building a reputation in the industry.

Step 3: Establish your pricing formula

One of the most common questions that freelancers have is how to price their work, as it can be challenging to balance fair compensation with the risk of losing clients to competitors.

There is a fine line between overcharging and scaring away potential business and selling yourself short. Use trial and error to figure out specifically where your skill set lies, and don’t be afraid to check out what other freelancers offering similar skills are charging. 

Remember: Your work is valuable, and your expertise, experience, and dedication deserve to be rewarded.

Step 4: Discuss the job parameters with the client before beginning

Before starting work on a project, it's important to discuss and agree on details with the client, including deadlines, the scope of work, and payment terms. This step is vital and should never be skipped.

Be sure to understand what the client wants and effectively communicate your requirements before spending any time on the project you’ve just landed on. 

Step 5: Manage client expectations

Freelancers need to manage client expectations and maintain a positive working relationship through effective communication and a clear contract. Always start on the right foot by being polite, assertive, and transparent.

Each client will be different so ensure that you navigate these relationships in a tailor-made manner. Ideally, you want to establish a strong client relationship and meet (or hopefully exceed) their expectations. 

Step 6: Manage your time effectively 

You’ve landed the job, now it's time to do the work. Time management is key to productivity and success as a freelancer. Ensure that you are scheduling work during productive hours, using time-tracking software if necessary, and effectively using your time to balance the workload of multiple projects.

Take the time to explore various tips and tricks for managing your time between projects, and build a winning formula that works specifically to your needs. The primary goal here is to maximize your productivity. 

Step 7: Get paid

Getting paid as a freelancer can involve choosing the right payment options, dealing with fees and invoicing, and learning the best course of action for receiving international payments. Tap provides a winning formula that caters to both crypto and top fiat currency payments. 

Unfortunately, this is also the time to learn how to address and handle non-payment issues.

Step 8: Manage your finances

Freelancers need to manage their finances carefully, as income can vary and benefits and tax obligations are the sole responsibility of the freelancer.

Be sure to stay up to date with policies like health and disability insurance, and learn about investing and passive income solutions for retirement and other savings goals. 

Step 9: Level up your freelance career

As a freelancer, there are many opportunities to grow your career and income, such as becoming an agency with other people working under you or teaching others your skills and experience through online courses. 

Step 10: If in doubt, start small

It's possible to balance freelancing with a day job, but it takes planning, determination, and persistence to make it work. This is also a great way to test the market and see if the freelancing life is for you. 

How to navigate the freelance business as a newbie

Now that you have a clear understanding of what freelancing entails, and a to-do list of steps to take to pave your new career path, below are some tips for anyone starting out or looking to become a freelancer. These will come in handy as you navigate the space and ensure that you don’t sell yourself short. 

Be selective about what jobs you take

To showcase your skills and present yourself as an expert, it's important to choose freelance projects that align with your skills and interests, rather than accepting every job that comes your way.

Establish a good pricing formula

Finding the right pricing balance can be tricky - charging too little can make you appear less experienced while overcharging can lead clients to seek out more affordable options. Researching market rates can help you find the right pricing balance.

Keep checking in with clients

Following up with clients after completing a project can lead to more work and strengthen your professional relationship. Consider suggesting additional projects that could benefit the client's business and make a note to check in again in a few months.

Always get a signed contract before starting

Before starting work on a project, always ensure you have a signed contract that outlines the obligations on both sides, including payment terms. Although it may feel awkward to request a contract, it can save time and hassle down the line.

Outsource administrative tasks if necessary

Administrative tasks such as invoicing, accounting, and tax management are important but can be time-consuming.

Consider delegating or automating these tasks to free up more time for paid work. Several millionaires interviewed in a study said that one of their keys to success was recognizing their weaknesses and delegating accordingly. 

Structure your day

To manage your time effectively, create a routine that allows you to balance work and other commitments. Scheduling work during your most productive hours and avoiding leaving work until the last minute can help you maximize productivity.

Stay motivated

Freelancing can be challenging at the beginning, but it's important to persevere and not give up. With experience, you'll gain more confidence and find it easier to secure work and manage your business.

Best of luck with your new venture if you decide to start freelancing.

Kyber Network was launched in 2018 with the aim of being the main liquidity hub for the DeFi space. KyberSwap is the platform's interface, a decentralized exchange (DEX) aggregator that provides convenient and secure value exchange within the crypto market. Overall, the Kyber Network platform provides a smooth token-swapping experience while boosting earnings for liquidity providers. 

What is Kyber Network (KNC)?

Kyber Network is a decentralized multi-chain liquidity hub that provides instant, secure transactions on any decentralized application (dapp). Its main goal is to provide deep liquidity pools that offer the best rates for DeFi dapps, decentralized exchanges (DEXs), and other users. Kyber Network is built on the Ethereum blockchain and makes use of intricate smart contracts.

KyberSwap is its flagship DEX aggregator and liquidity platform. KyberSwap sources liquidity from multiple DEXes to provide the best swap rates for traders in DeFi. KyberSwap is decentralized and permissionless, allowing users to conduct transactions on any of its supported 12 chains, including Ethereum and Binance Smart Chain. 

Kyber Network seeks to solve the liquidity issue in the DeFi industry by allowing developers to build products and services using the platform's protocol, while KyberSwap acts as the trustless trading platform that also provides rewards for liquidity providers. With over $1 billion in total volume from over 1 million user transactions, Kyber Network is a growing player in the DeFi space.

Kyber Network's governance structure is managed by holders of its native Kyber Network Crystals (KNC) token through a decentralized autonomous organization (DAO) called KyberDAO. This allows KNC token holders to have a say in the network's decision-making processes and contribute to its development and growth.

Who created Kyber Network?

Kyber Network was founded by Loi Luu, Victor Tran, and Yaron Velner in 2017. The project created 226 million KNC tokens, most of which were sold to buyers and investors during its initial coin offering. This raised Kyber Network 200,000 ETH (roughly $50 million at the time) to launch the platform. The protocol went live on the Ethereum blockchain in February 2018, with Vitalik Buterin as an advisor. 

In October 2017, the Kyber Network burned over 10 million KNC tokens, bringing the maximum supply down to roughly 215 million KNC.

Victor Tran is the current CEO of Kyber Network, while Loi Luu is the current Chairman. Yaron Velner stepped down as CTO in October 2019 but remains as an advisor. The Kyber team has over 50 employees globally, and its headquarters is in Singapore, with a large presence in Vietnam.

How does Kyber Network work?

Kyber Network is a decentralized protocol that enables users to instantly trade tokens without intermediaries. KyberSwap is the user interface for Kyber Network, with two protocols: Classic and Elastic. 

Classic features the Dynamic Market Maker (DMM) protocol and the Amplification (AMP) programmable price curve. Elastic is a tick-based AMM (automated market maker) with concentrated liquidity, allowing liquidity providers to specify the price range for adding liquidity and earn fees for swaps processed at a specific price. 

KyberSwap also has features like the Reinvestment Curve, multiple fee tiers, JIT Protection, and liquidity mining farms. The Kyber Network aggregates liquidity from various sources into a single liquidity pool on its network, and anyone can provide liquidity. The protocol is integrated into dApps (decentralized applications), DeFi (decentralized finance) platforms, and crypto wallets, enabling users to utilize any Kyber Network-supported token and allowing platforms to receive payment in their preferred token. 

The Kyber Network protocol relies on reserves to provide liquidity for its decentralized exchange platform, KyberSwap. When a user initiates a trade, the platform searches for available reserves to find the best available rate being offered by takers. 

There are three main types of reserves: Price Feed Reserves (PFR), Automated Price Reserves (APR), and Bridge Reserves. PFRs use price feeds to calculate conversion rates using smart contracts acting as an alternative to market makers, APRs provide rates for available crypto assets through smart contracts, and Bridge Reserves access other decentralized exchanges to deepen liquidity. 

Previously, reserves were required to participate in the Kyber protocol by staking KNC to pay for network fees, but a recent upgrade removed this requirement, making it easier for reserves to participate. Kyber Network collects fees in ETH, with a portion of them going to reserves based on the amount of liquidity they provide.

The reserves model is a critical component of KyberSwap, enabling the platform to offer fast and competitive token trading services to its users.

What is the Kyber Network Crystal (KNC) token?

Kyber Network Crystal (KNC) is the native coin for the platform and acts as both a utility and governance token. Users can stake it to vote on upgrades and policies or delegate their tokens to other validators and earn a portion of the block reward. 

Users who stake KNC receive rewards in ETH, and network fees paid in KNC will be burned over time, gradually reducing its supply. KNC holders can participate in the DAO and governance proposals by staking their assets or delegating their vote. 

They can also earn liquidity-mining rewards by staking their tokens in eligible Rainmaker farming pools or participating in various activities such as Trading Contest, Gleam Giveaway, and AMAs.

How can I buy KNC tokens?

Tap's mobile app offers a user-friendly platform for users to purchase, trade, and safely store Kyber Network's KNC token in an integrated wallet. The app supports a variety of cryptocurrencies and fiat currencies, which can be used for buying and selling KNC tokens. The app also makes use of a smart router which finds the best Kyber Network price at any given time.

Additionally, users can securely store not only KNC tokens but also other digital assets on the app. Downloading the Tap mobile app provides users with access to verified cryptocurrencies and fiat wallets, allowing them to take advantage of a wide range of investment opportunities.

Index funds are an increasingly popular form of investment that offers investors a low-cost, passive way to gain exposure to a broad range of assets. With minimal management fees and no need for active trading decisions, index funds can provide investors with higher returns at lower costs than more traditional forms of investing. 

What is an index fund?

An index fund is a type of mutual fund or exchange-traded fund (ETF) composed of a basket of stocks or bonds that tracks a specific stock market index such as the S&P 500 or Dow Jones Industrial Average. These might also be referred to as index mutual funds.

Unlike actively managed funds, which attempt to beat their respective benchmarks through security selection, index funds strive to replicate their underlying market indexes by holding all (or substantially all) of their components in similar proportions. 

This makes index mutual funds more cost-effective than actively managed funds since they incur fewer trading costs and require less research and fewer management fees. On top of that, since they track established indexes, investors can benefit from the diversification within the asset class without having to pick individual stocks themselves. 

Index funds provide an easy way for investors with any level of experience or resources to access some of the market's best-performing assets at a minimal cost. Index mutual funds are also favored for long-term investment strategies such as retirement funds. 

How do index funds work?

Index funds, also commonly referred to as "indexing", follows a passive form of investing (unlike traditional mutual funds that are typically actively managed funds). Instead of fund managers actively trading a variety of stocks, index funds are built by mirroring the securities of a particular index and holding them. 

The key notion is that by mirroring the profile of the index or stock market, the fund will match its overall performance. For example, over the last thirty years, the S&P 500 has grown an average of 10.7% per annum, which its index mutual fund will mimic.

While the most popular index fund tracks the S&P 500, other prominent index mutual funds include:

The Bloomberg U.S. Aggregate Bond Index

Which tracks the bond market.

The MSCI EAFE Index

Which tracks foreign stocks in Europe, Australasia, and the Far East.

The Dow Jones Industrial Average (DJIA)

Which tracks 30 large-cap companies listed on the stock exchange. 

The index fund portfolio holdings will remain as is unless there is a significant change in the market's benchmark index. Benchmarks are used to measure the performance of the market indexes and will influence whether any changes to the composition of the portfolio need to be made. If changes are necessary, managers will rebalance the percentage of securities as necessary.

Passive vs actively managed funds

Both mutual funds and index funds are great investments, however, they differ slightly in how they operate and the returns one can expect. As with any investment endeavor, investing involves risk.

Actively managed funds

An actively managed investment fund offers investors access to an experienced team of financial professionals or simply a fund manager who makes knowledgeable decisions about where and how to allocate the funds across asset classes. This generally enables larger returns than traditional passive investing.

Typically, many mutual funds are actively managed funds, however, it's best not to assume a fund is actively or passively managed simply based on the fund type. There are plenty of funds that break this rule, like actively managed exchange-traded funds.

The advantages of an actively managed fund are that it can earn higher returns and beat the market index. It's important to note that this is not a guarantee so it's best to check the history of the fund you wish to invest in beforehand and the performance of the team managing it.

It's also worth noting that when the mutual fund sells individual stocks it incurs fees and taxes which will affect the fund's performance. Investors are also required to pay a flat fee despite the performance of the actively managed mutual funds, which could result in the mutual fund underperforming the market index.

Passively managed funds

On the other hand, a passively invested fund mimics a market index and does not have a fund manager or team of fund managers making decisions on what and when to invest.

With passive funds, there are fewer decisions to be made and trades to execute, which allows for less effort and lower fees. Automating the bulk of a passively managed index mutual fund makes it much more cost-effective than paying professionals to determine when and what should be bought or sold.

Typically, an index fund will fall into this category as it does not require full-on management. Once the index on which it will mimic is established, the shares are purchased and the index fund continues with little to no input.

Index funds vs mutual funds

Investors looking to build a portfolio have two popular fund options: index funds and mutual funds. Both types of funds are created by offering diversification through a curated range of stocks and bonds and access to professionally managed investments, but there are some key differences between index funds and mutual funds that investors should be aware of before making their choice. 

Index funds typically carry lower fees than mutual funds, but they also come with fewer features and tend to be more passive in nature. 

Actively managed mutual funds on the other hand provide more flexibility when it comes to customization, as well as access to professionally-managed portfolios which may yield higher returns over time. Understanding how both index and mutual funds work will help investors make an informed decision about which type is right for them.

Is it worth investing in index funds?

Financial professionals will typically agree that index funds are a great way for investors to invest passively in the stock market. Not only do they require little input, but they also offer a low-cost option with a strongly diversified portfolio. Index funds also offer a good investment option for long-term investors.

However, it's important to remember that all investments come with risks, and individual financial situations can vary widely. Before making any investment decisions, it is highly recommended to consult a professional financial advisor who can assess your specific circumstances and provide tailored advice. Their expertise will help you make informed choices aligned with your financial goals and risk tolerance.

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We're thrilled to share that our fintech company has just celebrated its third anniversary! It's been an incredible journey so far, and we're so grateful for the opportunity to serve our users every day.

When we first launched our platform three years ago, we had a clear mission in mind: to provide an innovative, user-friendly, and accessible way for people to manage their money, trade cryptocurrencies, and access financial services. It was a big goal, and we knew that we had a lot of hard work ahead of us.

But we were determined to succeed. Our small team of passionate and dedicated individuals worked tirelessly, day in and day out, to bring our vision to life. We poured our hearts and souls into this project, and we knew that we were onto something special.

Fast forward three years, and we're proud to say that we've come a long way. We've built a platform that we believe in, and we're constantly striving to improve it. We've listened to feedback from our users, and we've added new features and services that meet their needs. And we've built a community of passionate and engaged users who share our vision for a better way to manage their finance everyday.

One of the things that sets our company apart is our commitment to transparency and user experience. We believe that managing your finances should be easy, intuitive, and stress-free. That's why we've built our platform to be as user-friendly as possible, with clear and straightforward interfaces that make it easy to manage your money and digital assets.

But our success wouldn't be possible without our amazing users. We're so grateful for your continued support, feedback, and encouragement. You've helped us to shape our platform into something truly special, and we're committed to continuing to serve you and improve our platform to meet your needs.

As we celebrate our third anniversary, we're excited to look back on how far we've come and to look forward to all the exciting things that the future holds. We're proud of what we've accomplished, but we know that there's always more work to be done. We're committed to continuing to innovate and improve, and we're grateful to have you along for the ride.

Thank you for being part of our journey. Here's to many more years of growth, success, and innovation!

We are delighted to announce the listing and support of Compound (COMP) on Tap!

COMP is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold COMP for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting COMP will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

Built on the Ethereum blockchain, the Compound protocol provides liquid money markets offering services such as lending and borrowing. Supporting a number of crypto assets, the Compound protocol allows users to deposit crypto into lending pools providing capital for borrowers on the network and allowing them to earn interest in return.

The COMP token is the Compound platform's native token which mainly serves as a governance token, with a built-in incentive for users holding the token. Holders of COMP tokens are able to vote on all important decisions pertaining to the protocol, including interest rates. Much like the cTokens, COMP tokens are based on Ethereum’s ERC-20 token standard.

Get to know more about Compound (COMP) in our dedicated article here.

Playing an important role in the adoption of Web3, Enjin provides a platform of software products designed to allow anyone to harness the power of NFTs (non-fungible tokens) through the development, trade, monetization, and marketing of blockchain assets. 

What is the Enjin platform?

The Enjin platform is an ecosystem of interconnected, blockchain-based gaming products designed for individuals, game developers and businesses to create, manage and trade virtual goods such as digital art, games, or virtual marketplaces using the Ethereum blockchain. Enjin aims to provide users with the tools to implement smart digital solutions for blockchain games within the gaming environment.

Through the platform's software development kits (SDKs) and APIs, users can build digital assets as well as seamlessly integrate them into their games and applications. 

Under the Enjin umbrella is the Enjin Network, a community gaming platform that allows users to create websites, chat, and host virtual stores. Over the course of a decade, the Enjin platform has accumulated over 20 million users.

Powering the ecosystem is the Enjin Coin (ENJ), a token used to back the value of NFTs and other assets minted on the platform. When an asset is minted it locks ENJ tokens into a smart contract and effectively removes the tokens from circulation.

It’s also worth noting that Witek Radomski, Enjin's co-founder and the brainchild behind the ERC-1155 Ethereum token standard, wrote the code for the first non-fungible token (NFT). By utilizing its cutting-edge technology, Enjin is revolutionizing the future of gaming and digital assets.

Who created Enjin?

Enjin was originally founded in 2009 as a gaming community platform by Maxim Blagov and Witek Radomski. Blagov took on the responsibility of being CEO and in charge of the platform's creative direction while Radomski took on the role of CTO, leading the technical development of the platform's products.

Following Radomski's interest in Bitcoin in 2012, the platform explored incorporating blockchain technology into its business model and embraced the world of tokenized digital assets.

Radomski went on to write the ERC-1155 token standard in June 2018, a token standard used for minting both fungible, semi-fungible and non-fungible tokens using the Ethereum network. This token standard is a critical building block in the platform’s design.

In 2017, the Enjin platform launched an initial coin offering (ICO), raising $18.9 million through ENJ token sales. A year later the project went live and in September 2019, the Enjin Marketplace was launched.

How does Enjin work?

The primary goal of the Enjin network is to facilitate the management and storage of virtual goods for games, anything from in-game currencies to unique in-game items. So, how does Enjin work? The process of creating and destroying these tokens involves five steps, as outlined below. 

• Purchase
  Developers purchase Enjin Coin. 
• Minting
  In-game items are designed and effectively minted with the appropriate amount of ENJ locked into a smart contract.
• Utilization
  Players use these tokens within the game.
• Trading
  Players trade the tokens between fellow players or on the internal or external marketplace.
• Melting
  Players sell the tokens for Enjin Coin, referred to as melting. The token is destroyed and Enjin Coin is released from the smart contract.

SDKs (software development kits) come into play here, with kits designed to fulfill certain functions, such as facilitating a payment platform or being wallet-focused. These kits are designed to minimize costs and simplify the process of creating these virtual goods. APIs (application programming interfaces) work alongside the SDKs to integrate these virtual goods (digital assets) into the game.

The Enjin platform utilizes JumpNet which is integrated with other products in the ecosystem, such as the Marketplace, Enjin Beam, and the Enjin Wallet to allow for gas-free transactions for ENJ and NFTs.

The Enjin ecosystem encompasses the Enjin smart wallet that allows players to store and trade their in-game items with ease. The Enjin wallet is designed to connect all the features, from managing inventory to conducting transactions and selling these tokenized digital assets for ENJ. 

What is the Enjin Coin (ENJ)?

Enjin Coin (ENJ) is the native token of the Enjin ecosystem. Built on the Ethereum blockchain and compatible with multiple gaming platforms, the Enjin Coin is an ERC-20 token that allows the in-game items created on the platform to be traded with real-world value. The ENJ token has a maximum supply of 1 billion coins.

The token also allows developers to mint these digital goods. The process requires the users to lock Enjin Coin (ENJ) into a smart contract that automatically assigns value to the in-game item. Players that later use these items can use them in the game, trade them or sell them for ENJ, equivalent to the original minting cost. Once sold, the item is destroyed (known as melting) and the ENJ that was locked in the smart contract is released to the seller.

How can I buy Enjin Coin?

Anyone can tap into the Enjin ecosystem by acquiring ENJ tokens through the Tap mobile app. Simply create an account and complete the verification process in order to gain access to your unique Enjin wallet, from where you can buy, trade and sell Enjin Coin. 

Fully licensed and regulated, Tap provides a secure and convenient means of managing your funds, allowing users to manage and store both crypto and fiat currencies in one location. With a wide range of supported currencies and services, Tap is revolutionizing the financial space.

Take advantage of the power of Enjin Coin on the Tap app - the ultimate platform to buy, sell or hold ENJ. With seamless integration and an intuitive interface, trading Enjin tokens has never been easier. Stay up-to-date with the latest market trends and keep your portfolio on track by monitoring the Enjin Coin price in real-time.