Enjin Wallet Review

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What Is Enjin wallet?

Enjin Wallet is a mobile cryptocurrency wallet designed to store a range of top virtual assets and also digital currencies with huge future growth potential.The developers call it the smartest wallet in the world.The wallet was created in 2008 and is registered in Singapore. It supports many cryptocurrencies, including tokens created under the ERC-20 standard. It also has its own cryptocurrency under the acronym ENJ.

Review Summary

Feature

Total Rating

Ease of Use

5 ⭐⭐⭐⭐⭐

User Interface

5 ⭐⭐⭐⭐⭐

Features

4,5 ⭐⭐⭐⭐

Security

5 ⭐⭐⭐⭐⭐

Support

5 ⭐⭐⭐⭐⭐

Advantages and disadvantages

Advantages

Disadvantages

  • High level of anonymity
  • High security level
  • Ease of use
  • Closed source code

About the wallet

About the wallet

Enjin Wallet is a secure and easy-to-use mobile cryptocurrency wallet. It is extremely easy to use and contains advanced features such as a Dapp browser, QR code scanner and cryptocurrency exchange.
Enjin, the company that created the wallet, was founded in 2009 in Singapore. The wallet was created in January 2018. Since then, serious work has been done to improve the security and increase the number of features of the product.
Enjin is an HD wallet that applies the BIP-44 standard. It is used to conduct transactions with more than 700 cryptocurrencies and thousands of exchange pairs.
Enjin wallet supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Binance Coin (BNB), Binance Chain tokens (BEP2) and all Ethereum-based tokens: ERC-20, ERC-721 and ERC-1155.

Enjin Wallet security

The wallet gives you full control of your private keys. You can always recover your wallet funds on any device using a 12 word passphrase. The source code of the wallet is private.

Enjin Wallet offers best-in-class security for mobile wallets:

  • Two-tiered encryption: AES hardware encryption and software are used at the lower and application levels respectively;
  • Secure keypad: The secure keypad blocks keyloggers and data analysers from accessing your mobile device to steal data. It can also be randomised to increase security;
  • Screen shot blocking and RAM encryption: The operating system level of the wallet restricts screen shots and video recording. At the memory level, transactions are executed in a secure RAM environment;
  • Custom libraries: Enjin Wallet contains custom libraries that remove private keys from the device's memory after use, significantly reducing the risk of attack;
  • Protection against processor vulnerabilities: Special code to fix flaws (e.g. meltdown and specture) in ARM processors;
  • Security check: the ORU security group found no problems which could be used to break the wallet or cryptographic keys stored in the system (full security report here);
  • Samsung Blockchain Keystore support: Enjin supports Samsung Blockchain Keystore to protect private keys within Samsung's military-grade Knox security system.

The Enjin team has developed special countermeasures against hackers. All private keys are double-encrypted, so even if hackers steal a file, it cannot be decrypted. In addition, Enjin's special keypad counteracts keyloggers by securing the decryption process on the device. Finally, Enjin used custom libraries to erase the private key from the device's memory after sending the transaction - unlike other mobile wallets.

Extensive independent security audits and penetration testing were also conducted. The audits did not reveal any vulnerabilities in the application system. At the same time, there have been no reported cases of hacking since the wallet's inception.

How to use Enjin Wallet

How to use Enjin Wallet

How to download Enjin Wallet

Please note that the client only works on iOS and Android mobile gadgets. First you need to download Enjin Wallet app from AppStore or Google Play.

How to download Enjin Wallet

Create wallet

There are a few simple steps to create a wallet:

  • Launch the application, select Crypto wallet and Create wallet;
  • In case you already have a passphrase, import it using the Import Wallet button. The BTC and LTC private keys (BIP38 / XPRV / XPUB), and the key store / private key from MyEtherWallet are also available for import;
  • Agree to the user terms and conditions;
  • Make up and enter a password to log into the wallet;
  • Write down and save in a safe place the secret mnemonic phrase, this is the key to your wallet. You can skip this step, but the app will notify you to save the phrase;
  • Verify the secret phrase. This step is to ensure that you have recorded the correct recovery phrase;
  • Select the coins and tokens you want to add to your wallet. You can change the list at any time;
  • The wallet is ready to go.

Adding custom tokens

Adding custom tokens

Before adding, you must have token details (token contract address, token symbol) ready. Find these details at https://etherscan.io

  • In the top right corner click plus (Add token);
  • Click "Add Custom Token" at the beginning of the list;
  • Enter the details of the token (contract address, symbol, decimals) and click "Add Custom Token";
  • Update your coin list with the button at the bottom of the screen (Update coin list);
  • The custom token is added to your wallet.

Sending and receiving funds

Sending and receiving money in Enjin Wallet is standard for similar wallets:

  • Alphanumeric address, qr code and xpub key are available for receiving;
  • Sending tools are standard, sending amount can be specified in cryptocurrency or fiat currency equivalent. The recipient's address can be scanned or the built-in address book can be used;
  • Fee can be adjusted manually.

Watch only mode

Watch only mode

When creating a wallet you can select watch only mode by importing your cold or hardware wallet address.

In addition to the basic functions, it is also possible to purchase cryptocurrencies for fiat money and exchange them with each other. The functionality is implemented through several services: changelly, Kyber Swap, Bancor and COINSWITCH.

Users can use the built-in browser to quickly and securely access the services and products of Enjin and its partners. A variety of collectibles are also available.

Enjin Coin cryptocurrency

Enjin Coin (ENJ) is a companion cryptocurrency, an ERC-1155 standard token.
The platform operates on smart contracts and enables developers, content creators and community organisers to use a host of new tools to manage virtual commodities. In the next few months, the tokens will be fully integrated into the Enjin system - in particular, everyone will be able to use game plugins, wallets, virtual item management tools, and payments.

Enjin ecosystem

With the Enjin wallet you can receive, send or store NFTs. NFTs can be collectibles or gaming assets.
One of the key features of the Enjin Wallet is the ability to link the wallet to various video games. So, along with the ability to send and receive, scan QR codes, players can receive NFT tokens representing various game items and import them into various video games.
This allows players to actually own digital assets - the items are not stored centrally in databases, but in the Ethereum blockchain.

Conclusion

Enjin wallet has many positive aspects, which made it quite popular among cryptocurrency users. The wallet has only one disadvantage: the wallet's source code is closed.

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.
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