chiliz cryptocurrency

Getting to know Chiliz cryptocurrency

Thanks to the continuous development of the crypto industry today, it has now bridged the gap between itself and other sectors such as entertainment and sports. Unexpectedly, digital coins like the Chiliz cryptocurrency are able to make fans all over the world engage with their favourite teams through blockchain-based technology. Dive into the intricacies of this revolutionary crypto-asset here at Cryptoshimbun:

A brief background about Chiliz cryptocurrency

Although Chiliz is relatively new in the market, it has now become a huge player in the crypto industry which is gaining the attention of many people. It’s a digital token that allows fans to engage with their favourite teams such as football clubs and esports teams and gain rewards by participating in various sports-related events through the Socios platform. 

They can also participate in different surveys and polls hosted by their chosen clubs. Get a closer look at this digital currency by checking this out:

History

First introduced in 2018, Chiliz (CHZ) cryptocurrency came from the idea of fans showing their support for their favourite sports teams through blockchain-based technology. This was founded by Alexandre Dreyfus who is also the current CEO of both Chiliz and Socios, the company overseeing the socios.com digital platform where CHZ coins are used.

Current performance

Presently, the company behind Chiliz cryptocurrency is partnered with various sports teams all over the globe such as The Ultimate Fighting Championship (UFC), BSC Young Boys and football club (FC) Barcelona to name a few. On another hand, their offices have reached far and wide across different parts of the world namely:

  • Spain
  • Malta
  • France
  • Turkey
  • Brazil
  • South Korea.

They are also planning to create branches in both North America and the United Kingdom in the upcoming years. As for its current market performance, this native token is performing well in the crypto market with a market capitalization of over $1 billion according to CoinMarketCap. Meanwhile, its market price is at $0.2787 as of writing.

What is socios.com?

Socios.com is a non-exchange blockchain-powered app for sports fans where they can come together and support their favourite players using the Chiliz cryptocurrency and convert them into Fan Tokens. These are fungible assets operating on a separate permissioned side chain on the Chiliz blockchain. Although these tokens are limited in number, they can be traded and have their ownership changed.

Unlike any other global community, socios.com is a phenomenal platform that allows supporters to partake in the decision-making process of their loved sports clubs. This includes choosing designs for merchandise, picking some in-game banners and selecting a goal celebration song. That’s why most football teams, esports groups and similar clubs partner with the organization to maintain a close engagement with their fans.

Why you should buy the Chiliz cryptocurrency

Breaking the boundaries of fan engagement, Chiliz allows people from all over the world to connect with their idols. It’s a unique innovation that lets you make certain decisions that help your favourite sports team. Read through these two main reasons why it’s worth investing in CHZ coins:

It gives you a one of a kind fan experience

With the Socios platform and the Chiliz cryptocurrency, you can have a fan experience like no other. It allows you to influence certain decisions about your favourite team and have the latest updates about them. Another interesting thing about it is it offers various rewards for its loyal users. This includes getting VIP offers, having exclusive promotions and gaining amazing prizes. 

Create an account on socios.com to get some CHZ coins. Then you can have them exchanged for Fan Tokens that you can use to get exclusive access to sports clubs and different rewards.

It can be traded in various large exchange sites

Apart from buying Chiliz to show your support, you can also use this cryptocurrency as a good investment. Since this is traded in various large exchange sites, it can become a good way to earn a passive income. It’s a win-win deal for both sports and crypto enthusiasts.

How to buy Chiliz cryptocurrency

Thanks to the rising popularity of cryptocurrencies, they have now become easier to access even for beginners. This means you can get CHZ coins without breaking a sweat. Follow these three steps listed below to get started:

  1. Choose a platform and sign up

Firstly, you have to choose a platform that sells cryptocurrencies, particularly the CHZ coins. This includes large exchange sites such as Coinbase, Binance and crypto.com. Another option is to purchase them from socios.com’s official website or mobile app.

When you visit any of these sites, you have to make an account and complete the entire sign up process. You will be required to give some personal information like your name and email address. Once you finish this step, you can now move on to the next part of the process.

  1. Get a crypto wallet

Securing a trusted crypto wallet is an essential step that ensures your coins are safe. Although you are not required to do this, it refrains your tokens and password keys from being stolen or hacked. The two most common wallet categories are software and hardware wallets.

Software wallets refer to a hot storage device that is accessed online and under it are web wallets, desktop wallets and mobile wallets. Some of its most notable examples are CEX.IO and GreenAdress among others.

Meanwhile, hardware wallets are those that are stored offline and in a physical device. It’s the common choice for those who want to add an extra layer of security to their coins since this has the least chance of getting hacked. On that note, the well-known cold wallets include Ledger and Trezor Model T.

  1. Purchase some coins

Once you have an account on any exchange site and a secure crypto wallet, you can now buy some CHZ coins using your fiat currency. You can also utilize a credit or debit card such as a Visa or Mastercard when making a purchase, depending on the payment options offered by your chosen exchange site.

Show some love with Chiliz cryptocurrency!

Chiliz cryptocurrency is making waves in the entertainment and sports industry, allowing fans like you to support your favourite teams. Buy one now and spread some love among your friends by making full use of these tokens. 

This groundbreaking innovation is not only boosting various parts of society but also giving you a chance to make a good investment that can serve you well in the long run. Uncover more about cryptocurrencies like CHZ by reading through here at Cryptoshimbun!

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