If you have any interest to buy Enegra (EGX) (EGX), you will be required to have either Bitcoin abbreviated as (BTC) or Ethereum (ETH) for trading purposes. I have reviewed the major cryptocurrency exchange Binance in this post to help you determine the best sites to buy cryptocurrency using a credit card or bank account. Take a read and get tips on the best cryptocurrency trading.
Step 1: How to create a Binance account:
1.1 Visit Binance’s Website (https://www.binance.com/en)
There have been several phishing cases reported over the past years that are imitations to the original site, it is essential to scrutinize the URL to the website keenly. First, be on the lookout for the ‘Secure’ certificate that should pop up in your address bar and that acts as a confirmation of the site’s genuineness. Second, to be extra safe while trading on the platform, ensure to bookmark the authentic site to evade any confusion in future searches.
1.2 Fill in your trading details
You have to fill in your details by going to the ‘’Register” tab found in the right-hand corner of the website’s page and fill in your trading details. For instance, you will need to fill in your mobile number or you choose to use your email address. For the email address, it is necessary to use your main email that you can access easily and the most secure one since you will need it to sign in to your Binance account always.
You also need to choose a strong password for your email; a strong password should comprise a mix of numbers, symbols, upper and lower-case letters. You will receive a 6-digit code via the email you provided as your account’s verification code and for completing the registration process.
1.3 Allow 2FA-Two-factor authentication (Optional)
To make your account more secure you need to allow use of a two-factor authentication after your first log in. Trust me; it is vital to set up the 2FA because it makes your account more secure from any hacking activity!
Every time you log in with the two-factor authentication, you will need to provide a unique code once your type in your email and password. To get your unique code, use the Google authenticator app downloaded into your smartphone.
Step 2: Buying your first Bitcoin (BTC)
To send money to your Crypto wallet account on Binance either directly via your bank account through SWIFT money transfer or you can opt to use your debit/credit card. For this part, I will guide you on how to use your credit card.
Binance previously didn’t allow the use of credit or debit cards on its platform, but the same has been introduced. Binance partnered with Simplex to allow its users to use their credit and debit cards to buy Bitcoin or Ethereum. This has led to faster Crypto transaction speeds, low transaction charges, and more transaction flexibility.
I highly recommend buying Bitcoin first and then trading it for the right amount of Enegra (EGX) (EGX).
It is easy to purchase Bitcoins via your credit card but I will elaborate on best ways you can do it step-by-step to make sure you understand all the trading nitty-gritty.
- Move your mouse’s cursor to ‘Buy Crypto’ tab found on the top bar and activate the dropdown menu. Then choose the currency, For instance, US Dollars, and click the ‘Credit/Debit Card’ to lead you to the next step.
- You be led to the next page; in this page you will see options to choose the desired Bitcoin (Select BTC), and the amount you need to spend to buy your choice Bitcoin amount. The total amount you need to spend will be displayed according to the Bitcoin amount you request and the matching market price at that time (inclusive of all fees). However, you can choose to first set the total charge then the system will automatically calculate the order amount for you.
- Fill in your credit card details and personal information too. Once done, you need to click “Pay now” and give it a moment to verify your details.
- You will be required to verify your email and phone number if it happens to be your first simplex payment via a code send through your email or an SMS. Complete the verification process by opening the link in your email and type in the code you receive via SMS. Once you do all the above, you can click “Continue”.
- Verification of identity follows next via the use of an official document. Basically upload your identification document photo accompanied by your personal details and click the “Upload Document” tab.
Lastly, your personal document will be approved once verified by the system and an email send to show the confirmation of order purchase. Subsequently, your Binance account is credited with the purchased BTC or Ethereum.
Step 3: Creating a Metamask Account
Search for https://metamask.io website or search for “Metamask extension” in your computer’s browser (you can install Metamask for Chrome, Firefox and Opera browsers).
Below I will show you how to install MetaMask extension for Chrome.
Look for ‘Add to Chrome” then click it to install MetaMask as a Google Chrome extension.
Then, you have to click “Add Extension”.
If you do all the above, you will have successfully installed MetaMask extension. It is easy as that! Next, you need to add your existing cryptocurrency wallet.
Just create a cryptocurrency wallet if you don’t have one yet. It is easy to do so.
Once the extension is installed, then, click on the icon found in the upper right corner to open the MetaMask. Also, make sure to read and accept the terms.
Still, you need to create a strong password and ‘click Create’.
After clicking “create”, you will see a 12 words seed phrase. You need to save seed words as a file or copy them to a safe place and click “I’ve copied it somewhere safe”.
Congratulations! Now you have successfully created an account in MetaMask with a new wallet address!
Go to Etherscan (Ethereum blockchain explorer) to view your address, check the QR code, copy your wallet’s address to clipboard or export your wallet’s private key.
Step 4: Depositing ETHEREUM to your MetaMask wallet
Move your cursor to “account name” found at the top of the window, which will show “Copy to clipboard”
Next, click on the “account name” and copy your address.
Then, paste the copied address in the “recipient” field in the App where you are sending your ETHEREUM or tokens from.
Choose the amount you want to send, follow all the steps to complete and submit the transaction and make sure to choose transfer network “Ethereum (ETH) ERC20”.
Important to Note: You need to look for guidance from the organization of the App you are using for information on how to move your ETHEREUM/tokens.
Step: 5 How to Make Your First Trade on Sushiswap
To do this, you need to go to the Sushiswap exchange website.
It is found on the top right, then click the ‘Connect to a wallet’ button, and log in with the wallet you wish to trade with.
For this, log in with a MetaMask wallet.
After you have logged in, the trading window will appear.
In the top field, choose the token you wish to exchange for the token you want. Let us choose ETH. Once in the bottom field, look for the token you wish to buy, or choose it from the drop-down menu, in this case (EGX).
Once you do all that you can place your preferred order. Also, you can either choose how much you want to spend by typing a number in the top field, or select how much to buy by typing a number in the bottom one.
Look at the bottom of the order menu; you’ll be able to view how much you can expect to get.
If you’re satisfied with the amount, just click the ‘Swap’ button.
After clicking your wallet will show require you to confirm the trade, and potentially set the fees to a number that works best for you.
Once you do all the above, then, confirm the transaction and it will then be processed. After it is done, your tokens will show in your ERC20 wallet.
Other Exchanges to Buy Cryptos
The following are other sites you can buy from these exchanges:
HotBit (Which permits US investors)
MXC (This exchange allows US investors)
On top of the above-listed exchanges, there are some more common crypto exchanges where daily trading volumes and a huge user base is available. This helps to ensure that you can sell your coins any time you want and the charges for the trading are not high. It is recommended that you should also register on these exchanges because whenever Enegra (EGX) gets listed there it give the traders who have already registered a large amount of trading volumes, that means you will be provided with some great trading opportunities!
Final Step: How to Store Enegra (EGX) securely in hardware wallets
1. Ledger Nano S
- Easy to set up and has a friendly trading interface.
- Allows use on desktops and laptops
- Lightweight and Portable too
- Has been designed to Support most blockchains and a wide range of (ERC-20) tokens
- Has many trading languages.
- Designed by a well-established company found in 2014 with great chip security
- It is not expensive but can be acquired at affordable price
2. Ledger Nano X
- It made with a more advanced and secure element chip (ST33) than Ledger Nano S
- Has an easy design that allows the use on desktop or laptop, or even smartphone and tablet through Bluetooth connection.
- Also Lightweight and Portable and has a built-in rechargeable battery
- Has a Larger screen
- Comes with more storage space compared toLedger Nano S
- It supports most blockchains and wide range of (ERC-20) tokens
- Provides several languages for every customer
- It was designed by a famous company found in 2014 with great chip security
- Can be obtained at an affordable price
If you still have plans to stay at hodl” as some people call it, basically misspelt “hold” (which become famous as time passes) your Enegra (EGX) for some long time, you need to find ways to ensure it stays safe safe,
However Binance is the most safe cryptocurrency exchange, in the past few years there have been hacking incidents and funds were lost. Because of the design of the wallets in exchanges, they will be accessible always via the internet (“Hot Wallets” as they are called), therefore exposing certain aspects of weaknesses.
Thus safeguard your cryptos by putting them in “Cold Wallets”, where the wallet will only have access to the blockchain(or simply “go online”) when you send out funds,. This reduces the chances of being hacked. For example, use a paper wallet which is a type of free cold wallet. It can also be defined as an offline-produced pair of public and private address and that you write on a paper for keeping safely with you. But, it is not permanent and may be faced by certain risk.
Thus, Hardware wallet is therefore the best compared to cold wallets. Since they are usually USB-enabled devices that can hold the key information of your wallet in the safest manner. Also they are designed using military-level security and their firmware’s are continuously upgraded by their manufacturers and this makes them extra safe to use. For example, Ledger Nano S and Ledger Nano X and are most common hardware wallets, you can buy one at $50 to $100 depending on the specifications they have. I highly recommend these for holding your assets because these wallets are a worthy every penny according to my experience and opinion.
Frequently Asked Questions
Is it possible to buy Enegra (EGX) with cash?
The answer is No. Because there is no way you can directly buy Enegra (EGX) with cash. But, using marketplaces such as LocalBitcoins to first buy Bitcoin, and completethe rest of the steps by transferring your bitcoin to respective AltCoin exchanges.
How do I Buy Bitcoin from local sellers?
You can go to LocalBitcoins that is a peer-to-peer Bitcoin exchange. It is more of a marketplace where users can buy and sell Bitcoins to and from each other. Users, known as traders, make advertisements to show their price and the payment method they want used. Then buyers buy from the traders to buy from sellers in a particular nearby region on the platform. LocalBitcoins is after all a good place to go to buy Bitcoins when it is impossible for you to find your favorite payment methods somewhere else. The site’s prices are high and you have you have to be extra careful to avoid conmen.
What are the quickest ways I can buy Enegra (EGX) while living in Europe?
While in Europe you have the advantage of buying cryptos in an easy and quick way. Because Europe has even online banks which help buyers to simply open an account and transfer money to exchanges such as Coinbase and Coinmama. Such banks which are common as online banks in Europe are Bunq, N26 and Revolut.
Can I use alternative platforms to purchase Enegra (EGX) or Bitcoin with credit cards?
Yes you can, you just need to visit Changelly which an easy to trade in site especially when it comes to buying Bitcoin with credit cards. It provides an automatic cryptocurrency exchange that gives a buyer the opportunity to exchange crypto fast and buy them using credit card. It has been designed to allow users to have easy crypto buying since it has a simple user interface and provides instructions that are easy to follow too.
About Enegra (EGX) (EGX)
Enegra (EGX) is an international coal, nickel and mineral commodities trading business based in Malaysia, with an audited Net Asset Value (NAV) of USD 33 billion. Enegra is proud to be one of the world’s first regulated companies to issue equity backed digital security tokens, under security token code EGX on the Polygon (MATIC) blockchain. Enegra has secured lucrative mining offtake agreements among 16 mid-tier mines in Southeast Asia. This provides Enegra with exclusive access to 1.8 billion tonnes of thermal coal and up to 500,000 tonnes per month of nickel sands. The valuation of these mining offtake assets provides Enegra with an audited NAV of $US 33 billion, audited by Crowe LLP https://www.crowe.com/ which is a global top 10 accounting and audit firm. Based on total issued supply, each EGX token has an NAV of $US 390, underwritten by an audited 2020 balance sheet. For further information, watch explainer videos on the Enegra YouTube channel: https://www.youtube.com/channel/UC68csgpG63KzeiiwJ5OsMEw
THE OFFTAKE ASSETS
Enegra has secured a lucrative mining Offtake Agreement among 16 mid-tier mines in Southeast Asia. This provides the company with exclusive access to 1.8 billion tonnes of thermal coal and 100,000 tonnes per month of nickel sands (targeting up 500,000 tonnes per month at full capacity).
Enegra does not assume any mining risk. The valuation of these mining offtake assets provides Enegra with an audited Net Asset Value of $US 33 billion. This $US 33 billion valuation has been audited by Crowe LLP – a global top 10 audit firm.
Mid-tier miners in Southeast Asia lack the scale and commercial maturity to leverage the full value of their commodities. On their own, they are often exploited for 30% to 50% of the global market prices. As a consequence, they are unable to source sustainable/economical financing terms to allocate resources and capital effectively. This makes supply chain management, commodities trading and marketing extremely risky and complex for these miners.
Over the last several years, Enegra has built unique, trusted relationships across 16 mid-tier miners in Indonesia. Enegra is now partnering with these miners under a unique Offtake Agreement, enabling them to scale and compete globally for the very first time.
Enegra’s team possesses global expertise across the entire trade cycle of physical, logistical and risk management functions to ensure successful execution of this unique opportunity, whilst providing miners with a long term, stable revenue stream. This enables miners to allocate long term resources and capital more efficiently, whilst providing social and economic outcomes among mid-tier mining communities in Indonesia.
The Offtake Agreement provides Enegra with exclusive access to 1.8 billion tonnes of thermal coal and 100,000 tonnes per month of nickel sands (targeting up 500,000 tonnes per month at full capacity). The Offtake Agreement will be monetised via major Supply Contracts to high, creditworthy smelters and power companies in Indonesia, along with trading on the London based Global Coal Exchange.
THE MARKET OPPORTUNITY
Enegra’s current market opportunity is to monetise its unique Offtake Agreement established among 16 mid-tier mines in Indonesia. This comprises exclusive access to 1.8 billion tonnes of thermal coal 100,000 tonnes per month of nickel sands (targeting up 500,000 tonnes per month at full capacity).
Beyond the current Offtake projects, Enegra and its 16 mine partners are poised to benefit from the convergence of a unique set of global economic and geopolitical forces currently at play, as follows:
Geopolitical – China Trade Wars and the Indonesia Advantage
As the world’s largest coal exporter, Indonesia has recently emerged as a key beneficiary of a Chinese ban on Australia’s coal exports. This is expected to further shift global trade in coal this year – the primary fuel used for power generation and steel making.
China Coal Boom – Energy Security, Demand and National Policy
Installed coal power capacity has quadrupled in China since 2000, from 222 gigawatts (GW) to 1007 GW in 2018. China is prolonging the age of coal. The China Energy Council has argued for coal-power capacity to reach 1,300 GW by 2030.
China 14th Five Year Plan (2021-2025)
In late 2021, the central government is expected to release its target for coal power in the energy sector 14th Five Year Plan (2021-2025). Coal power generation will continue to grow through to 2021, though it includes modest targets set for non-fossil fuel energy. The majority of Chinese coal fired power stations still have 30+ years of useful life ahead remaining. “China’s energy structure is dominated by coal power. This is an objective reality,” said Su Wei, deputy secretary-general of the National Development and Reform Commission.
THE COMPETITIVE ADVANTAGE
Enegra’s economic moat that truly sets it apart from its peers is a unique combination of the following factors that “the majors” are simply unable to replicate:
Local, trusted relationships with mid-tier miners in Indonesia
Over the past several years, Enegra identified an opportunity to apply its expertise in finance, trade and logistics to reduce the risk of sourcing and trading commodities from emerging economies.
Applying this approach to the global commodities coal market, but refining its business model for the local Southeast Asian market, Enegra spent several years cementing trusted relationships with mid-tier miners in Indonesia. Mid-tier miners in Southeast Asia are often exploited for up to 50% margin deterioration on their commodities.
Enegra’s local relationships, built over several years, has earned the trust of these miners in a way that competitors have failed to do. Over a five-year period engaging with 16 local, mid-tier miners, the success and uniqueness of these relationships resulted in the current Offtake Agreement with exclusive access to 1.8 billion tonnes of coal and 100,000 tonnes per month of nickel sands (targeting up 500,000 tonnes per month at full capacity).
Unique Offtake Structure – mitigating price volatility risk, ensuring cash profits on every single trade
Enegra’s local relationships has rewarded the company with the ability to negotiate rather favourable terms that provide economic value for all parties in the supply chain.
This includes a Forward Purchase Provision with a pricing formula locking in 32.5% fixed Gross Margin per tonne of coal, with no price floor. Coupled with a low fixed cost structure, this ensures approximately 27% EBITDA margin per tonne on every single trade for Enegra. Enegra also has right of entry and step in rights so it can take control at any point along the supply chain to mitigate delivery risk.
Highly Scalable Unit Economics and Valuation Fundamentals
The above demonstrates superior price volatility risk management to ensure Enegra is able to achieve highly scalable unit economics, resulting in robust free cash flow to attract the lowest possible cost of capital to maximise IRR to shareholders.
Unique Intellectual Property
Enegra’s Intellectual Property that cannot be replicated, lies in the combination of its unique, local, trusted relationships – combined with the structure of its Offtake Agreement across 16 mid-tier mines in Indonesia.
Enegra has also developed its own bespoke logistics and supply chain systems as well as financial models relating to margin and option pricing in commodity trading. This aims to maximise profit through efficient algorithmic trading, along with reduction of wastage and inefficiency in the supply chain.
Social & Community Impact
We’re doing this all whilst looking after our mid-tier mining partners and their local working communities. Whilst they are often exploited for up to 50% margins, Enegra pays its mine partners what they deserve, on time, every time! Our long term agreements enable these miners to secure long term mine financing so they can execute long term planning and efficient allocation of capital and resources. Enegra can also arrange finance for its mining partners due to the Company’s credit strength as an “Offtaker,” and the provision of Letters Credit Facilities backed by prime grade financiers.
HIGHLIGHTS AND MILESTONES
Offtake Agreement – 1.8 billion tonnes – USD 33 billion audited Net Asset Value
Over a five-year period engaging with 16 local, mid-tier miners in Indonesia, Enegra successfully secured an Offtake Agreement with exclusive access to 1.8 billion tonnes of thermal coal and 100,000 tonnes per month of nickel sands (targeting up 500,000 tonnes per month at full capacity). and nickel sands. The Offtake is “Watertight.” The coall Offtake has been negotiated at a fixed price margin, with no price floor (see “Competitive Advantage” Section for full Offtake structure details).
This valuation of these mining offtake assets provides Enegra with an audited net asset value of $28 billion – audited by Crowe LLP – a global top 10 audit firm.
The structure of the Offtake Agreement ensures highly scalable unit economics, robust free cash flow and sound price risk management with 32.5% fixed gross profit margin per tonne with no price floor. With a low fixed cost structure, this ensures approximately 27% EBITDA on every single trade. USD 96 billion lifetime revenue; approximately USD 19 billion lifetime equity cash flows.
The cashflow mode predicts 133% equity IRR within just 5 years. With diverse revenue streams derived from both fixed/contracted revenues from Supply Agreements and trading on the Global Coal Exchange, thereby mitigating earnings variability.
Supply Contracts – prime credit grade Offtakers
Letter of Intent established with a prime grade power company for Enegra to sell 500,000 tonnes per month of thermal coal. Advanced stage negotiations to supply Indonesia nickel smelters, targeting 100,000 tonnes per month of nickel sands.
Tokenisation of Enegra’s Equity
Enegra is proud to be one of the world’s first companies to issue equity backed digital security tokens to shareholders, under security token code EGX on the Polygon network. This will enable near term liquidity, as Enegra is currently preparing for listing one of Asia’s most active and liquid digital token exchanges in December, 2021.
The Offtake Agreements substantiate Enegra’s audited net asset value of $US 33 billion – audited by Crowe LLP – global top 10 audit firm.
1.8 billion coal lifetime tonnage over a 30 year project life.
$US 96 million lifetime revenue; approximately USD 19 billion lifetime equity cash flows.
133% equity IRR within just 5 years.
The structure of the Offtake Agreement ensures highly scalable unit economics, robust free cash flow and sound price risk management with 32.5% fixed gross profit margin per tonne with no price floor. With a low fixed cost structure, this ensures approximately 27% EBITDA on every single trade.
Profitability is expected from year one, from as low as 20% trading capacity. Full capacity expected by year 7 at 5.7 million tonnes per month (thermal coal) and 1.3 million tonnes per month (nickel sands), producing over USD 4.6 billion revenue p.a.
Diverse revenue streams comprise both fixed/contracted revenues from Supply Agreements and trading on the Global Coal Exchange, thereby mitigating earnings variability.
Whilst Enegra’s current Offtake Agreement defines its current business model, the Company intends to diversify its exposure in due course to extend to other actively traded mining commodities. Whilst the key functions of the business include the trading of physical commodities, hedging and risk management, secondary revenue streams will be derived from derivative revenue generation (opportunistic). Enegra also possesses the expertise to arrange financing for miners, which is a key strategy to optimise production for local miners, which in turn, optimises the value of Enegra’s Offtake and Supply Contracts. Ongoing opportunities to further increase thermal coal trading are also a reality, given the current geopolitical issues and China’s national policy to continually support coal fired power and steel production (see “Market Opportunity” Section).
At Enegra, we don’t accept the costly and distracting inefficiencies of traditional capital markets exchanges. This is why Enegra is proud to be one of the world’s first companies to issue equity backed digital security tokens to shareholders, via security token EGX on the Polygon network.
Enegra believes that overcoming the barriers of traditional securities exchange listings provides a significant opportunity to crystallise the favourable valuation fundamentals given by the company’s highly scalable business model, along with the significant discount associated with the token offer price.