Easy way to Buy ChChiliz(CHZ) Online with Wigwam crypto app

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How to buy and hold CHZ with Wigwam

CHZ

1. Choose a token number that you want to buy

2. Create a wallet, where to store your crypto

3. Pay with credit card

250.35 CHZ

4. Check your crypto in the created wallet

Why Wigwam is the best crypto wallet for Chiliz (CHZ) storage

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Send, Receive, Store your Chiliz tokens free and without limitations

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Why Wigwam is the best crypto wallet for Chiliz (CHZ) storage

The Chiliz (CHZ) Token Review

CHZ is the native token of the Chiliz blockchain, offering features that connect entertainment enthusiasts with their favorite celebrities and revolutionizes fan participation in sports decisions through Fan Tokens.

About the Chiliz Network

In 2018, Alexandre Dreyfus introduced the Chiliz blockchain to foster direct engagement between sport teams and their fans. The chain powered Socios.com, a rewarding platform that offers fan tokens globally, enabling supporters to engage in club polls and interact with their favorite players. By partnering with Chiliz, teams personalized real-world experiences for Fan Token holders, allowing them to influence decisions on stadium names, celebration songs, and uniform designs.

In the same year, the Chiliz network introduced the CHZ token as the primary medium of exchange, allowing sports fans to purchase Fan Tokens of their preferred teams. CHZ holds value for supporters seeking direct influence with their favorite teams and organizations.

The Chiliz (CHZ) Token Use Cases

  1. Transaction Fees: Users pay transaction fees on the network using the CHZ token
  2. Fan Tokens: CHZ tokens holders can buy branded fan tokens from franchises to sports teams including Paris Saint-Germain, FC Barcelona, Galatasaray, the Golden State Warriors, and the UFC on Socios.com.
  3. Governance: Through staking, CHZ token holders actively partake in network governance by voting for the validators that create and authorize blocks on the chain.
  4. Staking: CHZ holders can stake their coins for enhanced network security and to participate in the chain’s activities for rewards. The minimum staking requirements to become a validator on Chiliz is 10,000,000 $CHZ, and the Annual Percentage Rate (APR) is determined by the node stability and performance.

Economic Value

The circulating supply of CHZ tokens is currently over 8.88 billion out of a total supply of 8.88 billion, with a live market cap of $898,305,193.

The initial distribution of CHZ tokens included allocations as follows: Private Placement (34.5%), User base Reserve (20%), Marketing Operations (15%), Strategic Acquisitions (15%), Seed Investors (7.5), Team (5%), and Advisory Board (3%).

The Chiliz network adopted a token burn mechanism where 20% of sales proceeds from NFTs issued, 20% of trading fees from the Chiliz exchange, and 10% of revenue from fan token offerings are used to buy back CHZ tokens and burn them, making the total token supply deflationary. This mechanism permanently removes coins from circulation by reducing the total supply to create scarcity and boost the token's value.

CHZ token holders can stake on Chiliz to govern the network, vote for block producers, and buy fan tokens from teams like Juventus, Galatasaray, or franchises like the Golden State Warriors on Socios. Originally priced at $0.01 per token when Chiliz Network launched, the current coin value is $0.10, determined by the balance between sellers and buyers on exchanges.

Challenges

There is a possibility that the Chiliz network, website, smart contracts, unintentionally contain bugs or weaknesses interfering with token usage. Therefore, unforeseen events may negatively impact the functionality and value of the token, given its reliance on the platform's success. Also, other blockchains create the same functionality to work with NFTs, so users may choose to use Avalanche, Polygon, BNB Chain or other blockchain to work with NFTs. 


Disclaimer

This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.

FAQ

You buy CHZ in Wigwam DeFi wallet or use crypto exchanges, like: Binance, KuCoin, orHTX (Huobi). Simply visit their websites, register an account, fund it, and purchase the coin. Also, you can buy CHZ on the Kraken exchange.

Stake CHZ tokens successfully with the below steps:

  1. Download a reliable wallet, such as imToken, TokenPocket, or MetaMask Wallet, and set it up
  2. Visit Chiliz official staking website https://governance.chiliz.com/staking
  3. Select "CONNECT WALLET" and choose “Chiliz Chain” from the dropdown menu
  4. In your MetaMask Wallet, choose the account to link with your staking account and click "Next."
  5. Click "Connect."
  6. Once connected, transfer or purchase CHZ tokens from exchanges like Binance or HTX (Huobi).
  7. To stake CHZ, choose your Validator and click the "Delegate" button.
  8. Consider the validator's fee, reputation, and Commission rate before selection
  9. Enter the amount to delegate (minimum is 0.01 CHZ) and click "SUBMIT."
  10. In your MetaMask Wallet, verify transaction details and click "Confirm."
  11. Confirm transaction details, including the timestamp, in your MetaMask Wallet
  12. Use the Chiliz staking dashboard to verify your validator's details, including Status, Commission Rate, Voting Power, Validator Fees, and My Rewards.

Users can easily track CHZ activities using blockchain explorers like Chiliscan and Chiliz Legacy Chain Explorer. Chiliscan provides a view of the CHZ price, blocks, and transaction history, while Chiliz Legacy Chain Explorer is designed for monitoring daily price, market cap, and detailed block and transaction history.

To add CHZ tokens successfully, use crypto wallets such as Metamask, TokenPocket, or iToken Wallet that are compatible with the Chiliz blockchain. For Metamask, install the wallet, navigate to settings, and choose Chiliz Chain from the dropdown menu. Once connected, click "Import Tokens," search for CHZ, and import your assets. In case it's not visible, opt for the manual process. Choose "custom token," enter the CHZ token address (For Ethereum: 0x3506424f91fd33084466f402d5d97f05f8e3b4af), input "CHZ" for the symbol and "18" for decimals. Confirm the details, and your CHZ assets will be visible in the wallet.

CHZ can experience price volatility like other cryptocurrencies and a significant value reduction can lead to substantial losses. Therefore, learn the potential developments and current market conditions before investing.