Where to Buy Chiliz (CHZ) Crypto Coin: Beginner’s Guide 2022

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.

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.