Buy Efinity (EFI)
What is Efinity?
Efinity is a cross-chain NFT platform developed by Enjin and built on Polkadot. It aims to simplify user experience and digital asset governance within the NFT space, offering a scalable, environmentally friendly, and user-friendly ecosystem for NFTs.
How does Efinity work?
Efinity functions as a parachain within the Polkadot ecosystem, facilitating interoperability and cross-chain NFT transactions. It uses a Proof of Stake (PoS) consensus mechanism for efficient and scalable operations. Efinity employs paratokens, which are similar to ERC-1155 tokens, to enable seamless asset movement between networks. Key features include Efinity Swap, which allows automatic conversion of paratokens, and Fuel Tanks, which help reduce transaction expenses for users.
What are the potential use cases for Efinity?
Efinity's potential use cases span various industries, including NFT marketplaces, gaming, e-commerce, DeFi, and real-world asset tokenization. Its platform supports cross-chain NFT trading, metaverse gaming, digital collectibles, staking, and liquidity provision. It can also be used for tokenizing physical assets and running NFT-based marketing campaigns.
What is the history of Efinity?
Efinity was developed by Enjin, a company established in 2009, known for pioneering NFTs with Enjin Coin (ENJ) in 2017. Efinity secured a Polkadot parachain slot in 2021 and launched its platform on the Polkadot Relay Chain in March 2022. The platform has since evolved with innovative features like Fuel Tanks and Discrete Accounts, bolstered by partnerships with major companies and initiatives focused on eco-friendly blockchain solutions.
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Frequently Asked Questions (FAQs)
What is the current price of Efinity (EFI)?
The Efinity price is $0.07136052 AUD, representing a +4.63% from the day prior.
Where is the best place to buy Efinity (EFI) in Australia?
The best place to buy Efinity (EFI) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Efinity (EFI) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Efinity (EFI)?
The trading volume of Efinity (EFI) is $110.7K AUD in the last 24hrs, representing a +4.63% from the day prior.
How can I buy Efinity (EFI)?
Efinity (EFI) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Efinity (EFI)?
The current market cap of Efinity (EFI) is $12.3M AUD.
Can I convert Efinity (EFI) to cash?
Yes - With Coinstash you can convert your Efinity (EFI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Efinity (EFI) are there?
The current circulating supply of Efinity (EFI) is 86.9M.
Is Coinstash a safe place to buy Efinity (EFI) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Efinity (EFI) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.