What is Chiliz (CHZ)?

Chiliz (CHZ) is an ERC20 as well as a BEP2-compatible cryptocurrency. It acts as the native token of the Chiliz Ecosystem that powers a fan engagement and reward distribution platform called, Socios.com. This platform issues voting tokens of different sports teams for their fans to let them participate in their decision-making processes. Socios.com sell these voting tokens through CHZ token only. The holders of the CHZ token can trade them for the fan token of their chosen sports team to participate in some decision-making processes of that team. CHZ operates on a permissioned blockchain called Chiliz chain 1.0 that runs on top of the Ethereum blockchain and uses a Proof-of-Authority (PoA) consensus mechanism. The essential purpose of Chiliz is to allow fans to engage with their favourite sports team and club more actively through Fan tokens. CHZ token has a total supply of 8.8 billion.

How does Chiliz (CHZ) work?

The Chiliz platform works as an escort team crowd-management ecosystem that lets fans actively participate in finalizing some decisions for their favourite team through a blockchain-based infrastructure.

Every entity using the Chiliz gets a limited number of fan tokens. The entity offers these fan tokens through Fan Token Offering (FTO) events on a first-come-first-serve basis. Whoever wishes to buy these tokens can get them by trading their CHZ tokens which act as the platform currency of the Chiliz. After purchasing the fan tokens, the fans can vote for various decisions of their team through the Socios platform. The whole process goes through smart contracts and does not need any intermediary.

Chiliz is the pioneer crypto incubator that offers a decentralized way for fans to connect with their chosen teams and unlock new revenue opportunities for the team and themselves. It gained popularity because it converts passive fans into active fans by giving them a stake in their club. Some key partnerships of CHiliz are with FC Barcelona, Manchester City, UFC, Paris Saint Germain etc.

A concern associated with the Chiliz Chain is that it centralized its operating system of Chiliz centralized, as the project party controls everything associated with it. However, the platform plans have switched focus to the next version of this chain called Chiliz Chain 2.0, which will change its consensus from a Proof-of-History to a Proof-of-Staked-Authority (PoSA) mechanism. Under this change, the Chiliz platform will open to developers, verifiers, and users.

How to Buy Chiliz (CHZ) in India?

There are many platforms where you can invest and trade Chiliz in India. One such platform is Flitpay. To buy CHZ in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, ensure you have correctly entered your bank details. Through the linked bank account, deposit the amount of which you want to buy CHZ and execute the CHZ purchase.

You can instantly convert your INR to CHZ and CHZ to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

How do I convert Chiliz (CHZ) to INR on Flitpay?

Buying and converting CHZ directly on Flitpay is a task of a few clicks using the Flitpay OTC platform. If you have already made an CHZ purchase on Flitpay and want it to convert into INR, all you need to do is; sell it on Flitpay, and you will receive the INR in return. If you have your CHZ holding in another exchange, you will have to deposit your crypto on Flitpay and then execute the selling process to convert CHZ into INR.

To learn; how to deposit CHZ or any other crypto from another platform, refer to the link.

You can easily withdraw your converted INR through the instant bank withdrawal service provided by Flitpay in a breeze.

FAQ

What is Chiliz (CHZ)?

Chiliz (CHZ) is the platform currency of the Chiliz project that works with Socios.com, an app for sports and esports fans, to monetize voting rights of different team fan clubs to the fans of respective teams. CHZ is compatible with both Binance Smart Chain and the Ethereum Blockchain.

What is the Chiliz (CHZ) price in India?
Check out the LIVE INR price of CHZ in India on Flitpay.

Which is the best platform to buy Chiliz (CHZ) in India?
The best platform to buy CHZ or your favourite cryptocurrencies in India is Flitpay. Flitpay supports instant UPI and bank deposits and withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the Benefits of Chiliz (CHZ)?
Chiliz (CHZ) helps the fans of different sports teams and personalities to buy fan tokens for their fan clubs. Once they get the fan tokens of a team, they can vote to make several micro-decisions for the team.

Is it safe to invest in Chiliz (CHZ) in India?
Yes, investing and trading in Chiliz (CHZ) is Safe in India. Flitpay is one of the trusted platforms to invest in CHZ in India. It offers the most real-time prices.

Is Chiliz (CHZ) a Good Investment?
CHZ has been serving a big gap between passive and active participation of sports team fans in a decentralized way. It allows fans to enjoy a more immersive experience in supporting their team. It makes Chiliz an exciting project to look for. But cryptocurrencies can be highly volatile at times. Hence, one needs to be careful while making any investment decision.

Can I buy Chiliz (CHZ) Directly at Flitpay?
Yes, You can buy CHZ instantly at Flitpay with a minimum of INR 100 and lowest trading fees.