MATIC, USDT, BAL, WBTC + 2 more cryptocurrencies now available for trading on CoinJar
We’re excited to welcome 6 new coins to the CoinJar lineup. From DeFi to NFTs, stablecoins to scalable dApp platforms, these tokens represent some of the best and most innovative projects in the blockchain space.
- Balancer (BAL)
- Enjin (ENJ)
- The Graph (GRT)
- Polygon/Matic (MATIC)
- Tether (USDT)
- Wrapped Bitcoin (WBTC)
From today, you’ll be able to buy and sell all of these coins on CoinJar, joining the 24 cryptocurrencies that our customers can already trade, store and send.
These tokens won’t initially be available for purchase through CoinJar Bundles or on CoinJar Exchange, but will be added in the near future.
Update your CoinJar app to get access to the full available range.
Balancer (BAL) is an automated market maker (AMM) built on the Ethereum blockchain, similar to Uniswap and Curve. Users earn the BAL token by creating and maintaining liquidity pools. BAL tokens are governance tokens, meaning that they give holders the right to take part in decisions regarding the network. As these decisions often involve rewards and fees being generated by the Balancer protocol, there’s a financial incentive to hold and participate.
Enjin (ENJ) has been one of the pioneers of non-fungible tokens (NFTs). NFTs are one-of-a-kind markers that allow the holder to prove absolute ownership of a digital asset. Through a process known as minting, Enjin makes it easy to create NFTs on the Ethereum blockchain. ENJ is the currency that powers this process, allowing holders to both mint and “melt” NFTs.
The Graph (GRT) describes itself as “a protocol for organizing blockchain data and making it easily accessible”, a designation that has also led to it being called the Google of blockchain. Put simply, The Graph creates an open marketplace where information from different blockchains can be sold to developers who may require it to power their own smart contracts. The Graph Token (GRT) is the currency that powers this marketplace, offering incentives for those that index, curate and sell the data.
Polygon/Matic (MATIC) is a fast, cross-blockchain dApp development platform built on Ethereum. Like the ETH token, MATIC is the fuel that powers the Polygon network, facilitating the payment and settlement of transactions. Polygon uses a Proof-of-Stake consensus mechanism, which means that holders of the token can “stake” their tokens and receive more MATIC in return.
Tether (USDT) is the original stablecoin. Pegged in value to the US dollar, Tether allowed people to buy and sell cryptocurrency at a time when it was difficult for exchanges to find reliable banking and fiat currency partners. Cut to 2021 and the stablecoin market is booming, with more than US$100 billion in circulation. But Tether remains the biggest player by far, accounting for more than 60% of the market and essentially functioning as the crypto world’s reserve currency.
Wrapped BTC (WBTC) is an invention of the DeFi movement. Pegged to the same value as Bitcoin itself, WBTC is a way of representing Bitcoin ownership on the Ethereum network (i.e. you lock Bitcoin in a smart contract and receive an equivalent amount of WBTC in return). Having WBTC means you can use the Bitcoin you own on DeFi apps, for instance to purchase tokens on Uniswap or as liquidity pool collateral on a platform like Compound or Balancer.
Happy Trading!
Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more: www.coinjar.com/uk/risk-summary.
Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits.
CoinJar’s digital currency exchange services are operated in Australia by CoinJar Australia Pty Ltd ACN 648 570 807, a registered digital currency exchange provider with AUSTRAC; and in the United Kingdom by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).