The sports field has been one of the most accepting of cryptocurrencies in recent years. Teams are launching fan tokens and other assets to engage with their fans – essentially creative ways to involve their fans in team decisions.
Chiliz aims to make it easier for sports teams that haven’t jumped on board yet. The platform offers impressive opportunities for teams and their fans to engage, and its CHZ token has become a popular Web3 coin.
This article will explore how Chiliz works and provide a detailed tutorial on how to buy the digital asset.
Where to Buy Chiliz CHZ
This section is our top picks of where and how to buy the Chiliz CHZ Crypto coin. We chose these based on our experience of using them and considered fees, security, payment options and reputation.
- Coinbase: Highly Regarded and Easy to Use for Beginners
- Binance: Largest Crypto Exchange with Low Fees
- eToro: A Good Pick & Easy to Use Platform
- Kraken: Top Platform With High Liquidity
- FTX: Great Exchange for Newbies & Advanced Users
Visit The Top Pick
Visit eToro
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Coinbase: Simple & Easy to Use Exchange
Coinbase is also a great option for investors looking for how to buy the crypto seamlessly. The US-based crypto trading platform enables users to buy, sell, and stake cryptocurrencies with zero complexity.
Coinbase integrates a user-friendly interface that simplifies crypto trading. The crypto trading platform supports well over 10,000 blockchain-based assets.
Read: Our Full Coinbase Review Here
The exchange’s signup and verification process take less than 10 minutes. For traders looking to invest easily, Coinbase is a great alternative to Binance.
Coinbase has a minimum deposit of $2, the lowest minimum deposit in the market presently This exchange also offers a wide range of deposit methods like automated clearing house (ACH), Wire transfer, debit card, and e-wallet solutions, as well as cashouts in local currencies like USD, GBP, and EUR. Coinbase charges up to 3.99% for debit card deposits.
Investors enjoy a 4% cash back reward whenever a Coinbase debit card is used for crypto purchases.
For fees, Coinbase charges a competitive fee of 0.5% – 4.5% depending on the payment method, cryptocurrency type, and transaction sizes.
Coinbase has evolved from a traditional exchange to a versatile platform with great services dedicated to retail and institutional investors, such as an in-built exchange wallet, self-issued cash back visa card, staking, derivatives, asset hubs, ventures, and many more.
Furthermore, Coinbase has in-built security practices like 2FA verification as an added security layer to investors’ usernames and passwords, crime insurance that secures digital assets from theft and fraud, and many more.
Also, Coinbase is licensed by the Securities and Exchange Commission (SEC) and regulated by top financial authorities like Financial Conduct Authority (FCA), Financial Crimes and Enforcement Network (FinCEN), and the New York State Department of Financial Services (NYSDFS).
Pros
- Beginner-focused
- Licensed and reputable platform
- Insurance in case of hacks
- Low minimum deposit
Cons
- High fee compared to competitors
- No credit card deposits for US customers
Binance: Reputable Exchange with High Liquidity
Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.
The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.
Read: Our Full Binance Review Here
Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.
Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.
All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.
In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.
Pros
- Trading fees at 0.01%
- High liquidity
- Wide range of payment methods
- 600+ crypto assets in library
Cons
- Interface is suited for advanced traders
- US-based customers cannot trade most coins via its subsidiary
eToro: Easy to Use Platform
eToro is the one of the best exchanges to purchase crypto coins & tokens. It is one of the most popular social trading platforms in the investment space. This exchange gives traders and investors full access to trade over 78 crypto assets, including Bitcoin, Ethereum, and many more.
The broker’s user-friendly interface and simple layout is appealing to investors with no prior knowledge of crypto trading. To begin a trading journey on eToro, investors have to create an account. With a minimum deposit of as little as $10, US and UK-based investors can purchase tokens and other crypto assets seamlessly.
Investors also enjoy zero fees on all USD deposits, including debit card deposits. However, there is a standard fee charge of $5 on all withdrawals, a 1% flat fee for every completed trade on the platform, and a $10 inactivity fee charged monthly after an investor fails to trade for a year.
The broker offers seamless deposit methods that range from bank transfer and direct crypto deposits to debit/credit card and payment processors like PayPal. Although all USD deposits are fee-free, all bank transfer deposits have a fixed minimum of $500.
Another major feature that makes eToro stand out is its impressive CopyTrader feature. This integration enables novice investors to find well-experienced traders on the platform and copy their trade strategies to earn when they earn.
In terms of security, eToro scales to the top as it features two-factor authentication (2FA) protocol, advanced encryption, and masking technologies to secure all users accounts. eToro accepts users in over 140 countries and is regulated by top financial authorities like the U.S. Securities and Exchange Commission (SEC), Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CYSEC). The exchange is also registered with the Financial Industry Regulatory Authority (FINRA).
Pros
- Overall best social trading platform to buy
- User-friendly interface
- CopyTrader and CopyPortfolio
- Highly regulated broker
Cons
- Charges an inactivity fee
- Charges a withdrawal fee
Visit eToro
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Kraken: Top Crypto Platform with High Liquidity
Founded in 2011, Kraken is one of the oldest and most popular cryptocurrency exchanges currently in operation.
The exchange has built a reputation as being a secure destination for anyone interested in trading cryptocurrencies and it is also a popular choice for both traders and institutions across a variety of locations.
Read: Our Full Kraken Review Here
Kraken retains an international appeal and provides efficient trading opportunities in numerous fiat currencies. Kraken is also the current world leader in terms of Bitcoin to Euro trading volumes.
Kraken is most well known for its Bitcoin and Ethereum to cash (EUR and USD) markets; however a wide range of both fiat and cryptocurrencies are tradable on the platform
Pros
- Dedicated service for institutions
- Great for beginners to use
- High trading liquidity
Cons
- The lengthy ID verification process
FTX: A Top Exchange
FTX is one of the very best exchanges to purchase coins & tokens. It is a leading centralized multi-assets exchange that offers derivatives, volatility products, NFTs, and leveraged products. FTX also supports the most commonly traded cryptocurrencies.
Read: Our Full FTX Review Here
FTX’s wide range of tradable assets and user-friendly desktop and mobile trading platforms attracts all types of crypto investors from all levels, including newbies to well-experienced professionals. With support for over 300 cryptocurrencies for spot trading, FTX has one of the strongest bases of coins.
FTX does not have a minimum deposit balance. Maker trades on FTX costs between 0.00% and 0.02%, while taker fees costs between 0.04% and 0.07%. There is also a $75 charge for any withdrawals less than $10,000. Deposit channels vary from bank wire and bank instant deposits to debit/credit card to wire transfer and other methods like silver exchange network (SEN) and signature SIGNET.
FTX implements two-factor authentication (2FA) protocol for security when signing up for a new account. Additional security features include sub-accounts with configurable permissions, withdrawal address and IP whitelisting, and Chain analysis to monitor any suspicious activity. Also, this exceptional broker maintains its own insurance fund. All these security integrations are by standard requirements.
FTX operates in several countries, and US-based traders can use FTX.US — a fully regulated subsidiary that enables seamless trading services to residents of the United States of America.
Pros
- Large selection of cryptocurrencies and other digital assets
- Very competitive fees
- Great trading platforms
- Offers crypto derivatives
Cons
- FTX.US has limited coins
What Is Chiliz (CHZ)?
Before delving into how to buy Chiliz, it’s worth noting what the platform offers and why it’s valuable.
Chiliz is a cryptocurrency and blockchain
project that aims to assist sports and entertainment brands in developing new ways to engage with their fans through the use of Web3 components.
The platform uses blockchain technology to open up new channels of communication between fans and their favourite sports teams, with the teams able to issue fan tokens and distribute them to their fans.
Chiliz was founded and launched in Malta by Alexander Dreyfus, a serial entrepreneur who has previously launched several businesses in the entertainment and travel industries.
Dreyfus currently leads Chiliz.
The platform also collaborates with several well-known figures, including Nicolas Mauer (CEO of eSports team Vitality), Sam Li (the previous Vice President of the National Basketball Association), and video game streamer Dr Disrespect.
Chiliz was able to launch its platform after raising over $65 million in a private token sale in 2018. It now serves several top sports teams. The platform’s primary goal is to assist teams in launching fan tokens.
These cryptocurrencies allow fans to “own a share” of their favourite teams. They allow fans to vote on team-wide decisions such as entrance music, team kits, stadium names, and, in some cases, starting lineups and player trades.
The Italian pro soccer club Juventus FC is a prime example of Chiliz’s operation. The club launched its fan token on Chiliz, allowing fans to choose which song would be played at its stadium when a player scored a goal.
While Juventus had been celebrating its goals with the song “Chelsea Dagger”, fans decided to switch to “Song 2” by British rock band Blur.
Before the introduction of platforms such as Chiliz, fans could only support their teams by purchasing merchandise and attending games.
Chiliz, through the use of fan tokens, enables sports fans to have a more active presence within the operations of their favourite teams. The platform has had an interesting run, and its prospects have been significantly enhanced by the ongoing relationship between the sports and cryptocurrency industries.
Several sports organisations have collaborated with cryptocurrency companies to develop new ways to engage with their fans through Web3 concerts, such as non-fungible tokens (NFTs) and digital collectibles. They have a full-featured, user-ready suite with Chiliz that allows them to onboard and apply some of these concepts.
At the same time, sports franchises gain a double benefit: they can engage with their fans through a more seamless channel, as fans can now directly influence team directions (as opposed to team officials making arbitrary decisions). Teams can also monetise their fan bases because these fan tokens are purchased with real money.
How Does the Chiliz Crypto Work?
Chiliz uses its native token, CHZ, as part of its operations. The asset can be used as an ERC-20 token on the Ethereum blockchain and a BEP2 token on the Binance smart Chain.
CHZ can be purchased from Chiliz’s main exchange and other major cryptocurrency exchanges worldwide.
When a fan purchases CHZ, they can use it to purchase tokens from their favourite team. As previously stated, several sports organisations and teams already have tokens, ranging from professional soccer teams like PSG and FC Barcelona to Formula 1 teams like Aston Martin Cognizant and even basketball teams like the Golden State Warriors.
Teams can personalise their fan tokens and the economics and special rewards given to holders.
Fan tokens can also be burned based on the team’s performance. This means that events such as scoring goals and winning games can make fan tokens scarcer, increasing their value.
The primary value of CHZ is found in its applications. The asset is available for a variety of reasons:
- Buying fan tokens: The main purpose of CHZ is to facilitate the purchase of fan tokens. Fans can influence the direction of their favourite teams using these fan tokens, from stadium songs to jersey options and much more. These tokens function somewhat similarly to governance tokens. However, the organisation will determine the level of governance and control granted to fans. Some sports teams allow their fans to choose things like stadium entrance music, while others let them choose jersey options or even player trades.
- Trading: CHZ is also a valuable cryptocurrency. This means that speculators can trade it and benefit from price swings over time. Like many other cryptocurrencies, the total supply of CHZ is limited. The asset has a hard cap of 8.8 billion – much more than Bitcoin’s hard cap of 21 million but less than that of assets like Dogecoin (unlimited) or Shiba inu (one quadrillion).
Is Chiliz Crypto a Good Investment?
With so many cryptocurrencies on the market, investors might be curious about what makes CHZ such a good investment. So what is the value proposition of the asset?
Finding the Perfect Match
Chiliz occupies an interesting place in the cryptocurrency market. The platform has capitalised on the growing symbiotic relationship between sports and cryptocurrencies by providing a simple and dependable way for sports teams to engage with their fans via crypto and Web3.
Chiliz’s CHZ asset allows fans to buy fan tokens and have a direct say in minor team decisions. This gives fans greater ownership over their favourite teams than simply purchasing tickets or merchandise. They also receive special rewards and perks sponsored by their favourite teams.
A Highly Liquid Asset
Chiliz is currently one of the most popular Web3 coins and one of the most valuable cryptocurrencies in the market. This means that the asset is ideal for investors who want to profit from the market.
Staking Functionality
Another significant advantage of Chiliz is that it can be staked. Staking is one of the most fascinating aspects of the cryptocurrency market; investors can use it to generate passive income. CHZ is a proof-of-stake (PoS) coin. With this investors can earn returns by staking their coins in specific protocols.
How to Buy Chiliz Coin
Now that we understand what makes it valuable, let’s look at how to buy Chiliz. We recommend getting started with Coinbase, as it’s one of the market’s most popular exchanges, and users can get started with $2.
Sign Up
First, sign up on Coinbase’s home page. To begin, click the “Get started” button and enter a name, email address, and password.
Coinbase will mail a link to the address provided. Investors are to click the link to verify their newly created accounts.
Verify Your Account
The following step is to complete Coinbase’s ID verification process. Coinbase, as a regulated exchange, requires this step before anyone can buy or sell cryptocurrency.
Go to the settings page to verify the account. At the top, tap “Enable send and receive” and select the document to upload. Follow Coinbase’s instructions to finish this step.
Add a Payment Method
Before leaving the settings bar, click on “Payment methods” to connect a payment channel. With Coinbase, deposits can be made through bank transfers, cards, and third-party payment services.
Buy CHZ
Return to the homepage and click on the “Buy/Sell” button. Choose “CHZ” among the available coins, and Coinbase will display its purchase screen. Enter a purchase amount and tap on “Preview Buy”.
After reviewing the terms of the purchase, confirm the purchase. Investors’ wallets should be updated immediately.
Investors who want to save their Chiliz can do so in various ways. As soon as investors sign up, Coinbase provides them with a wallet where they can easily save their coins. However, as with other exchange wallets, using this option means an investor will lose control of their funds and private keys.
Users can also store in external cryptocurrency wallets. These wallets allow investors to control private keys, giving them complete control over the coins. Investors have various options available to them when it comes to getting a wallet. A few to mention are MetaMask and Trust Wallet.
Conclusion
Chiliz offers cryptocurrency investors an intriguing use case. The platform enables sports and entertainment organisations to issue fan tokens. Fan tokens enable these organisations to better engage with their fans and give them a say. Unlike in previous years, when fans had limited engagement options, Chiliz provides fans with more engagement options.
Chiliz’s CHZ token is also an appealing investment for both active and passive cryptocurrency traders due to its stability and high liquidity. While the cryptocurrency market has experienced a significant downturn, the future of CHZ appears to be bright, especially as more sports teams look to diversify into collectibles and Web3.
Chiliz FAQs
How can I buy Chiliz coin?
We recommend buying CHZ on Coinbase because it is one of the world’s most liquid exchanges. Simply sign up with the broker, verify identity, add a funding method, and search for CHZ among the available coins.
Is Chiliz available on Coinbase?
CHZ is available on Coinbase. Users can get started easily as the platform offers a user-friendly interface for navigation and a vast crypto library. To get started, simply sign up, verify the created account, add a payment method and then buy Chillz Crypto.
Is Chiliz coin a good investment?
CHZ appears to be a good buy right now. The asset has an impressive use case with its connections to the Chiliz fan engagement system. Passive investors would also like CHZ because they can stake it and earn interest.
Does Binance have Chiliz?
Chiliz is available for trading on Binance. Binance, the world’s most popular and largest crypto exchange, provides high liquidity and top-tier security for CHZ investors.
