Chiliz (CHZ) Current Price, Market Cap, And How To Buy Chiliz (CHZ): Chiliz (CHZ) is an ECR-20 token which operate on Ethereum blockchain, Chiliz (CHZ) powering Socios.com, aims to give sports and esports fans the ability to crowd manage their favorite teams, games, leagues and events.
The Current Chiliz price as of this post according to CoinMarketCap is $0.287144 USD with a 24-hour trading volume of $196,302,525 USD. The current CoinMarketCap ranking is #72, with a live market cap of $1,709,917,961 USD. It has a circulating supply of 5,954,921,248 CHZ coins and a max. supply of 8,888,888,888 CHZ coins.
On this post we will be taking you through all you need to know about Chiliz (CHZ), and how you can get your first Chiliz (CHZ) asset.
What Is Chiliz (CHZ)?
Chiliz is the leading digital currency for sports and entertainment by the eponymous Malta-based FinTech provider. It operates the blockchain-based sports entertainment platform Socios, which enables users to participate in the governance of their favorite sports brands. Multiple fan tokens by Socios.com are an example of that. For sports clubs and associations, fan tokens offer a way of connecting with their fans and unlocking new revenue streams.
For instance, fans can participate and influence club-related decisions through surveys and polls, such as messages the captain should wear on his armband. The company aims to bridge the gap between being an active and a passive fan. Chiliz has developed partnerships with some of the biggest sporting institutions in the world: FC Barcelona, Manchester City, Juventus Turin, and Paris Saint-Germain. It also boasts partnerships with the UFC and gaming organizations. By purchasing CHZ, fans get access to various fan tokens and literally have a stake in their club.
Who Are the Founders of Chiliz (CHZ)?
Chiliz was founded by Alexandre Dreyfus, its current CEO. Dreyfus has over 20 years of experience founding and growing web-based companies. For instance, he developed Webcity, an interactive travel guide, and Winamax and Chilipoker, both online poker projects, before founding Chiliz in 2017. His explicit goal with the company is to “work harder than ever on our mission to fully establish Fan Tokens as the ultimate fan engagement tool and as a powerful new revenue generator for the sports industry.” This has been highlighted in the aggressive expansion of fan tokens that have seen numerous European football powerhouses, but also smaller clubs sign on.
What Makes Chiliz (CHZ) Unique?
Every sporting organization using the Chiliz technology has a limited supply of fan tokens that are offered at an initial FTO (fan token offering). These tokens are offered on a first-come-first-serve basis, with the opening price and fully diluted market cap disclosed by Chiliz beforehand. The native CHZ token is used to purchase fan tokens and acts as the platform’s internal currency. Fans can then vote on the Socios platform with their fan tokens, a process made possible using smart contracts. Clubs determine the amount of influence fans have. Decisions can range from new jersey designs to deciding team matchups in exhibition games.
Chiliz pioneered direct participation for average sport fans in the decision-making process of clubs and organizations. The company is constantly creating new ways for fans to engage, with the establishment of the Chiliz Blockchain Campus, a privately-owned crypto incubator focused on accelerating blockchain technology adoption across Asia and Europe as an example. The company estimates to be at about 10% of its potential, despite the fact that it will likely have 80-100 teams as a part of its network by the end of 2021.
How Many Chiliz (CHZ) Coins Are There in Circulation?
The total supply of CHZ is 8.8 billion, minted at its launch in October 2018 and distributed to early contributors with no public sales beyond what was made available through exchanges. The token distribution is as follows:
15 % – Strategic Acquisitions
5% – Team
7% – Seed investors
3% – Advisory board
15% – Marketing
20% – Userbase reserve
34.5% – Token sale
Initially, CHZ launched as ERC-20 token, but it was later also designed to be BEP-2 compatible, owning Binance Launchpool’s role in releasing fan tokens as part of a strategic partnership. CHZ is also available as TRC-20 token on the Tron blockchain.
How Is the Chiliz Network Secured?
CHZ is available on several blockchains, such as Ethereum, Binance Smart Chain and Tron. Fan tokens are minted on its Socios sidechain with a proprietary crowd control mechanism, so fans are in a protected environment and vote only in publicly audited polls. The sidechain uses a proof-of-authority consensus mechanism. Proof-of-authority is mostly used by private organizations that have closed blockchains and only users within its ecosystem participating. It is less decentralized than other consensus mechanisms but is easily scalable and highly secure, making it the ideal choice for a sidechain. The CHZ token has been audited by Certik.
Where Can You Buy Chiliz (CHZ)?
CHZ is available on Binance, Huobi, Coinbase, FTX and many other exchanges.
How To Buy Chiliz Token.
Follow the steps below to start buying Chiliz on Supported Crypto Exchanges
- Sign up for an account .
First, enter a valid email address, create a new username and set a strong password to protect your account.
- Verify your account.
After providing your name, date of birth, country of residence and phone number, you can buy Chiliz (CHZ) on supported exchange.
- Deposit cash.
You can fund your account in a number of ways. How you do so will depend upon your location and preferences.
- Purchase Chiliz (CHZ)!
Once your account is funded with cash, you’re ready to purchase Chiliz (CHZ).
With the recent hike in the price of Chiliz (CHZ), there has been a high demand from potential investors who wish to buy and own Chiliz (CHZ), A lot of crypto investors are searching the internet to get the right information on how & where to get their Token as well as storing them in a secured wallet.
Current Price Of Gods Unchained (Gods), Market Cap, And How To Buy Gods Unchained
GODS is a freely-tradable token, with the majority of volume on major exchanges occurring on Huobi, Coinbase, Uniswap (V2) and OKEx Gate.io. Pairs against other cryptocurrencies and stablecoins are active, as well as with fiat currency, including on Bankman-Fried’s FTX exchange
NOTE THAT: Chiliz (CHZ) cannot be directly purchased with fiats currency. However, You can easily purchase this token by purchasing USDT or any major Crypto Currencies like BITCOIN from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade Chiliz (CHZ), in this guide article we will walk you through in detail the steps to buy and own your first Chiliz (CHZ).
Register on Fiat_to_Crypto Exchange
Since you can’t buy Chiliz (CHZ) directly with Fiat Currency, You will have to buy one of the major cryptocurrencies (BTC, USDT, ETH). But in this case let’s consider USDT (USDT). You can perform this transaction on fiat-to-crypto exchanges, like Coinbase.com, Coinbase is one of the largest crypto exchanges that accept fiat deposits.
All you need to do, create account with them ( ensure you keep your password safely) after creating an account then move to the next step which is to buy USDT.
Buy USDT with fiat Currency
Once you finished with account creation and KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a direct bank transfer.
PLEASE NOTE: You will be charged higher fees when using cards but you will make an instant purchase. While a bank transfer attract lower charges but slower purchases, Though it sometimes depends on the country of your residence, some countries will offer instant cash deposit with low fees.
Now that you have successfully added your card to coinbase, you have to trade USDT, click the ‘Trade’ button right at the top left, choose USDT and confirm your transaction.
Transfer USDT to an Altcoin Exchange
After buying your USDT, it’s worthy of note that since Chiliz (CHZ) is an altcoin that can’t be traded in all Crypto exchange, we need to transfer our USDT to an exchange that Chiliz (CHZ) can be traded, Let say Gate.io. Many exchanges has their own policies as some has restrictions to some countries, for example Binance does not allow investors from USA as customers. So you have to choose an exchange that suit your location and create an account with them before proceeding to the next steps.
PLEASE NOTE: It is always advisable to set up 2FA authentication as it adds extra security to your account, It will protect you against crypto theft.
Deposit USDT to Your Preferred exchange
Depends on the policies of the exchange, you might be required to go through another KYC process, this usually takes minimum 0f 30 minutes and a maximum of a day, After the whole verification process you are now good to go.
Since we are now transferring our previously bought USDT from Coinbase to the exchange where Chiliz (CHZ) can be traded (Gate.io), click on ‘Copy Address’ or right-click on the full address and click copy to grab this address to your clipboard. Now head back to Coinbase, go to Portfolio page and click on the USDT on your asset list, then click on ‘Send’ on the right.
Under the Recipient field, paste the wallet address from your clipboard (from the exchange you want to send your USDT to), for security and accuracy reason, you should always check if both addresses are matching and Click ‘Send’ to proceed, you should receive a confirmation email instantly, click on the confirmation link on the email and your coins are on the way to your preferred exchange.
Now go to your exchange to confirm your USDT arrival, don’t worry if you haven’t seen your deposit almost immediately, It might be undergoing some network verification on blockchain network and this should take a few minutes for your coins to arrive. Depending on the network traffic condition of the USDT network, during busy hour it may take even longer.
You should receive a confirmation notification from your exchange once your USDT has arrived. guess what? You are now finally ready to purchase your Coin
Trade Chiliz (CHZ)
At this stage which is the final of your purchase, held to your exchanging platform, then go to ‘Exchange’. make sure “USDT” is selected to be able to trade USDT to altcoin pair of your choice, in this case Chiliz. You should see GODS/USDT, select that pair and you should see a price chart of Chiliz/USDT in the middle of the page. All you need to do is to execute your order and you are done getting your Chiliz (CHZ).
Some Top Exchanges You Might Love Base On Your Location
BitMart – Is one of the most trusted cryptocurrency trading platform which provides real-time trading services including Bitcoin (BTC), Ethereum (ETH) and other Altcoins. It accept American customers unlike BINANCE that doesn’t support American customers.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services.
Gate.io is an American cryptocurrency exchange that launched 2017. As the exchange is American, US-investors can of course trade here.
After Purchasing your Chiliz (CHZ), and your plan is to hold it for long. You will have to open a secure wallet online or you make use of appropriate “Cold Wallet” as there had been too many hacking incidents associated with online and funds had lost severally.
How to safeguard your crypto from theft
- The likelihood of theft can be reduced in various ways. You can prevent theft of your cryptocurrency and coins by storing them on offline hardware.
- Hardware wallets and paper wallets must be locked in a safe when not in use. Put your private keys in a place like a bank safe deposit box or a remote safe location, far away from where your wallet is kept.
- Exchanges should only hold crypto that is needed for trading and exchange.
- Whenever you access your exchanges, wallets, or other online crypto service providers through your web browser, be sure to use a secure and trusted bookmark. The 5-dollar wrench attack can result in losses if you do not utilize multiple passphrases on your hardware wallet.
- Multifactor authentication can be improved by using an offline token generator like Google Authenticator.
- Multiple signatures can be applied to wallet funds.
- You should limit your exposure to the public in regard to crypto holdings and avoid discussing them in public.
- Make sure your wallet address is double-checked after pasting it, and provide an image of the wallet address when emailed, chatted, or otherwise sent via digital means.
Thank you for your time, note that this page is open for update and corrections. Please Note That, buying of crypto currencies is at your own risk, all our post is for education purpose and it’s advisable that you buy according to the dollars you can afford to lose. You can check out how you can buy Polygon.