Buy Chiliz (CHZ)
Cryptocurrency hype has been a significant trend for years. Bitcoin, having beaten all seemingly record highs, continues to rise. At the same time, trading on cryptocurrency exchanges is gaining popularity among miners. In this article, you will learn about the promising cryptocurrency Chiliz. Maybe after reading this article, you will want to buy CHZ.
What is Chiliz (CHZ)?
Chiliz is a digital currency for sports and entertainment platforms. It allows crypto-enthusiasts and traders to buy and sell branded tokens. In addition, Chiliz provides sports and entertainment organisations with unique blockchain tools that help them attract and monetise audiences.
Fans can purchase fan tokens from international sports teams and clubs, including Barcelona, Juventus, Milan, Paris Saint-Germain, Atletico Madrid, Roma, Galatasaray and many others. Fans' tokens are limited in number and are interchangeable. This means that their ownership can be sold, and their price depends on the market. Moreover, the fan tokens offer the opportunity to participate in various polls and receive special offers and rewards via the platform.
Is CHZ a non-transferable token (NFT)?
After partnering with decentralised oracle network Chainlink and blockchain ecosystem Enjin Chiliz can issue NFTs to sports clubs and teams, but CHZ itself is not a non-mutually exchangeable token. So at the moment, CHZ can only be used to buy digital collectables such as fan tokens.
Who founded Chiliz?
Chiliz is owned by Mediarex Group, an international sports and entertainment organisation founded in Malta in 2012. In October 2018, Chiliz issued 8.8 billion CHZ tokens. CHZ later appeared on the listing of significant cryptocurrency exchanges, including EXMO.
In late December 2019, Chiliz launched an app designed specifically to reward and reward fans. "Juventus became the first club to issue its fan tokens (JUV). In addition, it held the world's first FTO fan token offer, thus allowing fans to vote for the club's decisions on the blockchain.
Who are Chiliz's partners and investors?
If you desire to buy a Chiliz, it would be good to know as much information about it as possible. This is important for trust and to trade more confidently.
To date, Chiliz has managed to attract more than 20 major organisations to the partnership, including football clubs Roma, Paris Saint-Germain, Juventus, Atletico Madrid, Galatasaray, Milan, Independiente, "Barcelona, Apollo, Trabzonspor, Young Boys, Novara, Istanbul Başakşehir and Universidad de Chile, the UFC sports organisation, the PFL and the cyber sports organisations Team Heretics, NAVI and Team Alliance.
Chiliz has raised $66 million through a private placement. Its investors include some of the world's most generous cryptocurrency exchanges and crypto funds in Asia.
How does CHZ function?
CHZ is an ERC20 service token created on the Ethereum blockchain. This digital asset can be used to buy fan tokens on the platform. Many famous sports clubs and teams issue such tokens. They allow fans to influence the decisions of their teams by voting, as well as receive rewards for their activity.
How to Buy Chiliz (CHZ)
So, if you want to buy Chiliz in Malaysia, you have to consider three main ways to make money in cryptocurrencies - trading, mining and investing. Each has its specifics, but all have one thing in common: highly high risks. Due to the high volatility and certain specifics of the industry, losing money is high. But the risks can be minimised if specific rules are followed.
Cryptocurrency mining is a business that involves buying and maintaining equipment, renting premises, and so on. There are risks in this business at every stage. For example, the equipment may turn out to be defective or broken due to misuse. The founder of BitCluster has given some rules to minimise possible losses:
- Don't buy equipment on exotic, new algorithms. Such equipment becomes obsolete too quickly, and a coin can get tens of times cheaper.
- Do not buy equipment imported under the radar. You can lose everything at the first inspection.
- Don't spend all your savings on mining at once. It's better to buy equipment gradually and adjust your strategy.
- You should not connect the equipment to too expensive electricity. It is not profitable.
- You should not use mine coins and postpone selling them with the expectation that the exchange rate will rise. Otherwise, instead of mining, you will be trading. And that is an entirely different profession. We will tell you about that later.
"Mining is not magic. It is a business. Like any business, it may or may not be effective. Choose reliable partners for your mining to be effective."
How to start investing in Chiliz (CHZ) in Malaysia?
One of the most straightforward ways to make money from cryptocurrency is investing. However, simply buying any cryptocurrency is not enough. Due to high volatility and many projects, there is a high probability of investing in coins that will not show growth or depreciate altogether. Analysts give the top 4 tips on minimising the risks and making the investment as efficient as possible. You should consider these tips if you want to invest in Chiliz in Malaysia:
- Diversify - don't buy only bitcoin, or only ether, or only XRP. Assemble a portfolio of different cryptocurrencies;
- Manage risks: control the volume of entry into a position, limit losses (stop-losses). An investor should clearly understand how much of the deposit he is willing to lose if the asset goes down. A 20-30% "drawdown" in a portfolio is not fatal, but 50-70% is difficult to recover;
- Invest for the long term;
- Study the assets and the market: without quality knowledge, you have to hope for luck.
You can trade cryptocurrencies by speculating on their value through CFD trading without owning them.
To trade CFDs on cryptocurrencies, you will need the following:
- Create an account.
You will not need a cryptocurrency exchange account or a wallet to store the tokens as a CFD trader. All you need is an account with a leverage provider.
- Do your research.
Cryptocurrencies may not be affected by many factors that influence traditional currencies, but you need to know your market.
- Apply your strategy.
The final choice of trading strategy depends on your goals and preferences. Deciding what is right for you is the foundation of your long-term and short-term success.
- Place a trade.
Specify the position size, set-closing conditions and click "Buy" if you think the cryptocurrency will rise or "Sell" if you think it will fall.
- Close your position.
As soon as your objective is achieved, or you decide that it is time to limit the losses already incurred, you will close your position, repeating the original action in reverse order: that is, if you bought, you sell, and vice versa.
Remember that because CFDs are leveraged products, you will only need to make a small deposit to obtain exposure to the trade's total value. This fact means that the potential profit from your capital increases, but you can also lose your deposit.
Is Chiliz a good investment?
What should you expect from Chiliz?
Of course, if you are going to buy CHZ, your expectations should be close to reality so as not to be disappointed. The growing popularity and rapid development of the NFT market and the digitalisation of fan interaction are expected to have a favourable impact on CHZ. According to World Atlas, there are several billion sports fans who could well become the target audience for Chiliz. After all, the project allows fans to directly support their favourite teams by purchasing digital collectables for CHZ tokens.
In March 2021, Chiliz CEO Alexander Dreyfus announced that the company would invest $50 million to expand its business in the US. Entering such a vast market will allow Chiliz to develop partnerships with leading American sports clubs and teams. This, in turn, will help to attract new customers and increase demand for CHZ, which will boost the price.
How to start investing in Chiliz (CHZ) in Malaysia?
So, if you want to buy Chiliz in Malaysia, you take the platform and register online. The registration process is easy and does not take a long time. However, when you register, you will need to enter some personal information to confirm your identity.
After registering, the platform will provide you with an exciting feature - a demo account. Demo-account is a training simulator with virtual money for practising the skills of working with the trading terminal on the stock, currency and futures markets. The demo account is similar to a trading account. The only difference is that all profits and losses on the demo account are virtual.
However, nothing compares to real trading. If you want to try your hand at trading, you must make a minimum deposit and start trading. This is how you will start your journey into the world of trading.
You can also surf the net and read many books to gather valuable information on your own. You can also learn the basics of trading: Through educational programs and video courses.
Choose the way that suits you best and start earning! Good luck!