Buy Chiliz (CHZ)
What is Chiliz (CHZ)?
Cryptocurrencies are highly dynamic, with record highs and lows. But the fact remains that crypto's medium-term growth is truly staggering. Bitcoin, for example, is up almost 400% in a year. And Ethereum (Ethereum is the second most popular and first fastest growing cryptocurrency in the world) has jumped more than 800% in the last year! Tempting. But also a little scary. After all, crypto is very new, complicated, and unknown. And it is not regulated by the government, so it is not reliable? No, it isn't. It would help if you had the right tool. In this article, we will tell you about the digital currency Chiliz.
Chiliz (CHZ), a digital currency for sports and entertainment platforms, rose more than 114% in 24 hours.
Chiliz is a cryptocurrency aimed at growing the sports and entertainment ecosystem on the blockchain. With Chiliz, sports and cyber sports teams can sell their fan tokens, which are then used as an exchange tool within the community.
The Chiliz Cryptovapute allows sports and eSports fans to manage their favourite teams, games, and events. In 2021 the sports and cybersports landscape is expected to increase audience engagement and monetisation rather than just quantity.
Chiliz's vision is to transform billions of sports and cybersport fans from ordinary spectators into influential decision-makers. Cryptocurrencies and blockchain platforms look to be the most effective tools to achieve this goal.
The decision of every fan - a Chiliz holder - has a direct impact on the actual sporting events associated with teams, partner organisations and competitions, be it:
- Premier League football;
- La Liga (Spanish football Championship);
- Dreamhack ( cybersport championship);
- Electronic Sports League, etc.
How does Chiliz work?
In a simplified way, the cooperation between clubs and fans can be represented as follows:
- The club decides in advance what the fan community can make part of the decisions. Part of the power is handed over to the people;
- A certain amount of so-called Fan Tokens is generated on a platform;
- The fans buy these tokens and vote through the platform. Therefore, the greater the number of Fan Tokens one owns, the more weight is given to one's vote.
All participants on the platform start with a predetermined number of Fan Tokens. Then, fans exchange CHZs for Fan Tokens and vote, their votes are counted via a series of smart contracts, and the result is recorded in a sidechain (auxiliary blockchain). The fan tokens will be sold at a fixed price on a first-come, first-served basis - this guarantees a fair and unbiased distribution of voting rights. This methodology is suitable for all members of the platform.
There is protection against monopoly. For example, one user cannot buy an unlimited number of Fan Tokens so that no person or organisation can take over the control of the club via the platform.
The owner of even one Fan Token gets access to the trading platform. They can speculate with the Fan Tokens and put them up for sale at any price.
The developers used the same principle as in financial markets. Buyers only see the Fan Tokens offered for sale at the minimum price. Only once the liquidity at that level has been selected is the next highest offer available.
If, for example, 100 Fan Tokens are offered for sale at CHZ 50, CHZ 40, and CHZ 20. Initially, only CHZ 20 will be visible. When the tokens are redeemed, CHZ 40 will be visible, and so on.
The project uses two types of blockchain:
- The Ethereum blockchain - all transactions related to CHZ tokens are recorded in it;
- Sidechain, where voting results, i.e. transactions associated with fan tokens, are written.
Platforms usually have small commissions for transactions not directly related to voting. So, for example, there will be a commission when selling Fan Tokens, but not when voting.
Where to buy Chiliz?
The best known and most prominent exchange was established in 2017. In a short period of time, it has soared to the highest positions in the world rankings, gaining popularity among users worldwide. In addition, the website of the exchange is translated into various languages.
The exchange offers a simple currency exchange, buy, trade - classic, advanced, margin, P2P and stock trading - this tool has recently appeared. The home page has a block with exchange news, published information about upcoming competitions, new cryptocurrencies, and instruments.
There are mobile apps and a handy web terminal with all the necessary tools to determine price movements, place orders, and other trading operations for trading.
How to start investing in Chiliz (CHZ) in South Africa?
If you want to invest in Chiliz in South Africa, you should bear in mind cryptocurrency trading.
What is cryptocurrency trading?
Trading is the trading of different assets in the market, e.g. stocks, bonds, other securities or commodities. Cryptocurrency traders trade different cryptos on unique exchanges and make money from the constantly changing exchange rates. By the way, if you are offered to buy a particular cryptocurrency, check if it is available on the exchanges. If not, it's probably not worth anything.
The traditional way to acquire cryptocurrencies is through an electronic wallet, which only the copyright holder has access to; fraudsters will not be able to hack it, even if the service hosting it shares the data. Transactions with digital currencies can also be made on notable exchanges, where you get several wallets at once to conduct transactions smoothly. There are exchanges where you can buy bitcoins from other users. This type of service usually has a reasonable exchange rate. Moreover, the transaction is easy to perform, having a card from almost any other bank. The whole process is as follows:
- The buyer chooses a seller whose account is blocked with a certain amount of crypto.
- The number of the card to which the transfer is made appears.
- After the payment is made, the seller confirms receipt of the money and the crypto is transferred to the buyer.
Features of investing in cryptocurrencies
The reputation of digital currency is reaching new heights, and user trust is growing. This is being promoted by:
- Cryptocurrency use is expanding, including at the national level.
- The investment market is enriched by new players from China and India. Countries and private companies are starting to look for funds outside the political situation.
- Major online retailers now accept cryptocurrency, allowing the currency to continue overgrowing. In addition, the availability of digital currency is increasing. The development of cryptocurrency is also linked to the use of new tools for storing money and the development of mining.
Experts predict that the value of cryptocurrencies will grow. However, there may be periods of "stagnation", when positions will not change, or times of non-critical decline. It is also worth keeping in mind that long-term investments from a year onwards are very profitable for an investor and seldom go bust, while short-term investments will not be profitable if there is a temporary drop in prices.
It is essential to assess the risks and choose the right cryptocurrency.
What is a cryptocurrency CFD?
If you want to buy Chiliz in South Africa, we recommend considering a CFD.
A CFD is a derivative financial instrument in which the broker agrees to pay the trader the difference in the value of the underlying security between two dates: the opening date and the closing date of the contract. In doing so, you can either hold a long position (assuming the price rises) or a short position (assuming the price falls).
There are differences between buying a cryptocurrency directly and trading a cryptocurrency CFD. Due to the need to pay a rollover fee, CFDs are generally not considered a long-term investment.
When buying cryptocurrencies, you keep them in your wallet, but the position is held in your trading account when trading CFDs, which is subject to regulatory oversight. You have more flexibility when trading CFDs because you are not linked to an asset; you buy or sell a derivative contract. You can also make money when the price falls, as you can take a short position. In this case, you will lose money if the price rises.
Please note that trading CFDs is risky. CFDs are a leveraged product, which means your profit can be multiplied, but your loss is more significant if the market goes against your position. So be aware of the risks when you decide to buy CHZ.
How to assess risk?
"Altcoins," currencies that compete with more proven financial market players, are considered to be even more profitable in terms of investment. However, their position could change dramatically in 2-3 years. It is difficult to predict the exact timing of stagnation, so it is up to the investor to make an informed decision about investing their own money securely.
How to Buy Chiliz right now?
If you want to buy Chiliz, you can сhoose a reliable broker and register online. Often registration requires some personal details to identify the user. Once registered, you can start trading cryptocurrencies.
Many platforms also give their users the chance to trade in a demo account with virtual money. Again, this is a great way to gain experience.
If you feel empowered and confident, then, of course, move on to real trading. To do that, make a minimum deposit and start earning right now. Then, have a great time trading!