How To Buy Chiliz (CHZ)?

A common question you often see on social media from crypto beginners is “Where can I buy Chiliz?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. Thanks to its massive popularity, you can now buy Chiliz on most cryptocurrency exchanges, including Coinbase and Binance in 3 simple steps.

Step 1: Create an account on an exchange that supports Chiliz (CHZ)

First, you will need to open an account on a cryptocurrency exchange that supports Chiliz (CHZ).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Chiliz (CHZ) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Chiliz (CHZ)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Chiliz (CHZ) or Chiliz (CHZ) trading pairs. Look for the section that will allow you to buy Chiliz (CHZ), and enter the amount of the cryptocurrency that you want to spend for Chiliz (CHZ) or the amount of fiat currency that you want to spend towards buying Chiliz (CHZ). The exchange will then calculate the equivalent amount of Chiliz (CHZ) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Chiliz (CHZ) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Chiliz (CHZ)?

Chiliz is a cryptocurrency that allows sports fans to have unique experiences with their favorite teams. 

Inspired by the socios of Spanish soccer teams, where an annual subscription grants fans access to early ticket and club voting rights, Chiliz leverages blockchain technology to enable a new kind of direct engagement between fans and their favorite sports teams.

Fans are able to purchase the Fan Tokens of their favorite teams using the CHZ token, the native cryptocurrency of the Chiliz experience. Fan Tokens can be bought for CHZ through socios.com, the crowd management platform that powers the Chiliz experience. Each team that partners with Chiliz can customize the real world experiences their Fan Tokens provide to holders. Fan Tokens can also grant holders influence over decisions presented by the team, such as new uniform designs, celebration songs, stadium names and, in some instances, decisions over the starting lineups.

Prior to Chiliz, fans could only engage with their favorite teams by watching games or purchasing merchandise. Chiliz and its associated Fan Tokens give sport fanatics an active presence within the operations of their favorite teams and a unique influence over its decision-making process. 

Meanwhile, Chiliz allows sports franchises to monetize their fan base in new ways while providing unique experiences to their most loyal supporters.

How does Chiliz (CHZ) work?

The CHZ token operates both as an ERC20 token on the Ethereum blockchain and as a BEP2 token on the Binance Smart Chain. Once a fan purchases CHZ tokens, they can use them to purchase Fan Tokens of their favorite teams from Socios.com. 

Dozens of teams and sports organizations around the world, including FC Barcelona, Golden State Warriors basketball team and Aston Martin Cognizant Formula1 team have held Fan Token Offerings (FTOs) for their loyal supporters. Each franchise can customize their Fan Token’s price, supply, distribution as well as the special rewards and abilities that Fan Token enables. For example, Fan Tokens can be used to access exclusive meet and greets, memorabilia and direct voting decisions on the direction of each team. 

Importantly, Fan Tokens can also be burned, or removed from circulation, based on the team’s performance, meaning outcomes such as winning games or scoring points could make the Fan Tokens more scarce, and therefore more valuable.

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. 

Chiliz development updates in 2023

Chiliz, the digital currency powering the fan engagement platform Socios.com, has made significant strides in 2023. Here’s an overview of the key developments:

• Expansion of Fan Token Offerings (FTOs): In 2023, Socios.com launched five new Fan Token Offerings. These FTOs have contributed to a substantial increase in the platform’s user base, which grew by almost 30%. This expansion signifies Chiliz’s growing influence in the sports and entertainment sectors, particularly in engaging fan communities through digital assets​​.

• Integration and Collaboration with Sports Teams: Chiliz has forged new partnerships and expanded existing ones with major sports entities. Notably, Tottenham Hotspur, a renowned Premier League football club, joined the platform. Additionally, Socios.com enhanced its collaboration with Juventus, offering more exclusive benefits and experiences for token holders. These partnerships demonstrate Chiliz’s commitment to integrating fan tokens into clubs’ fan engagement strategies​​.

• Developmental Partnerships and Hackathon: Chiliz announced partnerships with Moralis and Tatum, leading developer toolkits, to encourage more developer activity on Chiliz Chain 2.0, the ecosystem’s EVM compatible layer-1. Additionally, a global hackathon hosted by Chiliz Labs at ETHGlobal in Istanbul was announced, aiming to inspire the creation of new dApps focusing on Fan Utility or general SportsFi. These initiatives are expected to accelerate the development and adoption of decentralized applications in the sports and entertainment sectors​​.

• Introduction of New Features and User Rewards: Socios.com introduced new features to enhance the fan experience and offered almost 50,000 rewards to Fan Token holders in 2023. The platform also rolled out features like Fan Favourite, Locker Room, and Auctions, which provide fans with more interactive ways to engage with their favorite sports teams and access exclusive digital collectibles​​.

• Chiliz Chain 2.0’s Launch and Future Prospects: The launch of Chiliz Chain 2.0 marked a significant milestone. It transitioned into an independent layer-1 network, aiming to offer a scalable ecosystem for SportsFi applications. The mainnet launch of Chiliz Chain 2.0 is a step towards expanding the SportsFi ecosystem, with the intention to support a wider range of applications and utilities in the sports domain​​.

These developments in 2023 reflect Chiliz’s continued growth and innovation in the intersection of blockchain technology and fan engagement, solidifying its position as a key player in the SportsFi and entertainment blockchain sector.

Official website: https://www.chiliz.com/en/

Best cryptocurrency wallet for Chiliz (CHZ)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Chiliz (CHZ)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).