The cheapest place to buy Chiliz (CHZ) is through Coinbase’s Advaned Trade interface (max 0.6% fees). However, they don’t have many great reviews on Trustpilot (1.5-rating, 8000+ reviews).
CoinJar is another way you can buy Chiliz (CHZ) in the UK. If you deposit GBP with a UK bank transfer, then you’ll be charged a fixed fee of 1% when buying Chiliz (CHZ). This is a much quicker, simpler, and beginner-friendly option – and has better Trustpilot reviews.
Read on for more information.
Intro: Buy Chiliz (CHZ) in the UK
Here’s a quick look at some popular places where you can buy Chiliz (CHZ) in the UK.
| Provider | Payment Method | Fees |
|---|---|---|
| Coinbase (Advanced) | UK Bank Transfer | Up to 0.60% |
| CoinJar | UK Bank Transfer | 1.00% |
| CoinJar | Credit & Debit Card | 2.00% |
| BC Bitcoin | UK Bank Transfer | 5% |
| Crypto.com App | UK Bank Transfer | Variable |
| Crypto.com App | Credit & Debit Card | 2.99% + Variable |
How to Buy Chiliz UK
1. Coinbase
Coinbase’s Advanced Trade dashboard is one of the cheapest ways to get your hands on Chiliz (CHZ) using a UK bank transfer.
Because Coinbase can process UK bank transfers via Faster Payments (FPS), your deposits should be credited within about an hour. However, my experience is that GBP deposits hit my Coinbase account within minutes.
Using Coinbase’s Advanced dashboard, you’ll be quoted the real exchange rate and won’t be charged more than 0.6% in fees. You’ll have to pay to withdraw your Chiliz (CHZ) from Coinbase, but this is quite standard practice across different platforms.
But to get these fees, you’ll have to toggle Coinbase’s Advanced Trading dashboard.
Coinbase Simple and Coinbase Advanced are two sides of the same coin. When you create a Coinbase account, you’ll automatically get access to both of these interfaces via the same website.
Coinbase Simple is a cryptocurrency broker that’s popular and well-recommended across many different places. And for good reason: it’s simple and easy to use for beginners.
But Coinbase Advaned, which is what I’ve been talking about in this section, is a cryptocurrency exchange. It’s targeted more at enthusiasts and traders, with a trading terminal that’s not beginner-friendly.
So why do I mention it?
The fees on Coinbase Simple are higher (and, as of recently, nowhere near as transparent). If you use a debit or credit card to buy something like Chiliz (CHZ), you’ll pay even more.
Whereas, you’ll only be charged a maximum of 0.6% fees when buying or selling something on Coinbase Advanced.
That’s quite a huge saving, which – at least for me – was worth the slight inconvenience.
Coinbase WebsiteCoinbase Review
2. CoinJar
CoinJar is another great place to buy Chiliz (CHZ) and other cryptocurrencies with GBP in the UK.
Founded in 2013, CoinJar has a simple web interface and a great mobile app on iOS and Android too. They have a 4.0-rating on Trustpilot too (2000+ reviews), which is a lot better than many other places I’ve checked out.
You can deposit GBP with a UK bank transfer via the Faster Payments Service (FPS) on CoinJar. Like on Coinbase, I’ve personally found that CoinJar credits my GBP deposits within minutes (but it can take longer).
You’ll then be charged a 1% fee to buy Chiliz (CHZ) using your GBP balance on CoinJar. This is more expensive than using Coinbase Advanced, but it’s much simpler and easier to use – which makes it more suitable for beginners.
You can also instantly buy Chiliz (CHZ) with a credit or debit card, but you’ll be charged a 2% instead (which, for the slightly added convenience, I don’t think is worth it).
3. BC Bitcoin
BC Bitcoin is a cryptocurrency broker, established in 2017, that allows you to buy Chiliz (CHZ) and almost any other cryptocurrency you might want.
It has great reviews on Trustpilot too (4.9-rating, with 500+ reviews) – with many people praising its customer service.
It supports a few different payment methods, but the cheapest option is to send GBP with a UK bank transfer.
You’d normally be charged 5% in fees when buying anything that isn’t Bitcoin (BTC) on BC Bitcoin with a UK bank transfer. If you place an order for £5000 or more, you’ll be charged a reduced rate of 4%.
Two things I don’t like are that the interface isn’t that great and the minimum order is £250 (which is higher than most places).
BC Bitcoin WebsiteBC Bitcoin Review
What is Chiliz (CHZ)?
Chiliz (CHZ) is the internal digital currency of Socios.com, a platform where sports fans can trade tokens and engage with their favourite professional athletic teams.
Technically ‘Chiliz’ refers to the Chiliz blockchain infrastructure used on Socios.com while Chiliz token (CHZ) refers to the digital currency itself. But most people use the term ‘Chiliz’ for both the token and the blockchain.
Chiliz (CHZ) was founded in 2018 by the Malta-based company, Chiliz, which was established by Alexandre Dreyfus. The firm launched Socios.com in 2019 and it’s grown steadily ever since as more and more sporting organisations want to use the power of the blockchain to engage their fanbases.
There’s a maximum supply of 8.8 billion Chiliz (CHZ), all of which was minted in 2018. Approximately 34.5% of all CHZ were allocated for token sales while about 45.5% were allocated to seed investors, sports teams, marketing, and strategic allocation. The other 20% are being held in a user base reserve.
Here’s a look at how Chiliz (CHZ) works within the greater Socios.com ecosystem:
To understand the benefits of holding Chiliz (CHZ), you first need to have a good idea of how Socios.com works.
With Socios.com, sports fans can buy and sell their team’s fan tokens. The Italian football club Juventus was the first to launch their fan token $JUV in 2019. Since then, many more organisations have since followed suit.
These tokens give fans extra benefits, such as access to exclusive promotions, VIP rewards, and even voting rights on things like uniform designs.
Here’s where Chiliz (CHZ) comes into the picture.
In order to buy fan tokens on Socios.com, you need to have Chiliz (CHZ) tokens. Chiliz (CHZ) effectively serves as the internal currency for Socios.com, so you can’t get fan tokens without them.
Ultimately, the benefit of holding CHZ is that it lets you buy fan tokens. Most people come to Socios.com because they want to use fan tokens to interact with their favourite clubs and sports organisations. This means that CHZ seems like a means to an end for many investors.
Best Chiliz (CHZ) Wallets
There are a number of ways to store Chiliz (CHZ) tokens depending on what you plan to use the token for.
But before I talk about the best Chiliz (CHZ) wallets, it’s important to understand that there are two kinds of CHZ tokens:
- ERC-20: Most Chiliz (CHZ) tokens were initially minted as ERC-20 tokens. The majority of exchanges support this form of CHZ.
- BEP-2: A small fraction of CHZ tokens are BEP-2 tokens that operate on the Binance Chain. This is because of a partnership that happened between Binance and Chiliz to allocate fan tokens through the Binance Launchpool in 2020.
With that in mind, there’s technically no native Chiliz (CHZ) wallet. You can store your CHZ on the Socios.com app, but this isn’t necessarily the most secure option.
Chiliz specifically recommends using either Trust Wallet or ZenGo for storing your CHZ tokens. Both of these wallets support ERC-20 tokens, so they can both handle the standard version of Chiliz (CHZ). Trust Wallet also supports BEP-2 Chiliz (CHZ) tokens.
However, do not try to send your fan tokens to Trust Wallet or ZenGo. These wallets cannot support fan tokens—only Chiliz (CHZ).
If you want to store your Chiliz (CHZ) on a hardware wallet, consider the Ledger Nano S or Nano X.
Both of these wallets support all ERC-20 tokens. Plus, Ledger Live, the wallet interface for the Nano S and Nano X, also supports CHZ tokens – which makes it a little easier to manage everything through a simple user interface.
You can use other ERC-20 compatible hardware wallets, like the Trezor One or the CoolWallet S, to store Chiliz (CHZ), too. But because Trezor Suite doesn’t support CHZ, you’ll need to use something like MyEtherWallet or Metamask to manage your tokens using these devices.
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