How To Purchase Chiliz (CHZ) Through Socios.com
Socios.com is an innovative way to show support for your favorite sports team using digital assets, boasting a range of benefits including fan polls, match predictions, and competitions.
To begin your journey on the platform, you first have to purchase some Chiliz (CHZ) tokens. Chiliz is a cryptocurrency built on the Ethereum blockchain, and it is also native token on the Socios platform that can be used to purchase fan tokens and trade.
This short guide will break down, step by step, how to purchase your first Chiliz and convert them into the token of your favorite team.
This guide assumes you have already set up a Socios.com account. If you have not yet opened an account, click here to view our guide.
Introduction to Socios
Socios.com is the app changing the way you support your favorite sports team, with tokens offering a range of features that allow you greater power and insights into the goings-on of your club.
In order to access these benefits, however, you first need to purchase Chiliz and exchange them for your team's native tokens.
In our earlier Socios.com guide, we taught you how to set up your account, and in this guide, we will teach you how to purchase CHZ through the app and start your journey to becoming more than a fan.
How to Buy Chiliz (CHZ) via Socios
The first step is to open up your Socios.com app, and once on your homescreen, click “Wallet” on the bottom toolbar.
This will take you to a new screen, where you can see your current available balance in both Euros (EUR) or other fiat currencies and Chiliz (CHZ). You will have the option to withdraw, receive or top up your funds. For this guide, we will click “Top-up”, but it is also possible to send CHZ from external exchange like Coinbase – though it should be noted that you are liable for gas fees should you do this, as Chiliz is built onto the Ethereum blockchain.
This will redirect you to a new page where you can decide how many Chiliz tokens you want to purchase and what currency to make your purchase with. Being in the UK, I clicked the dropdown and selected GBP.
Once selected, be sure to click the checkbox to ensure you accept the terms of the transaction and this will activate the “Proceed to payment” button to continue the purchase.
This will take you to a webpage, still within the Socios.com app, but without the header and footer you have become accustomed to. Here you will select your payment method from the menu. For this guide, we will be using a VISA debit card, so will select the top option, however if you choose the “Skrill” or “Rapid Transfer” top up, you will be asked to log into your account, and your steps may look a little different to the below.
Once selected, you will be shown a detailed breakdown of your purchase, including any transaction fees that you may accrue during the process. You can see I have a GBP 0.50 transaction fee, so just be aware it may increase your price of purchase slightly.
If you are happy to proceed at this point, click the checkbox to agree to the purchase and demonstrate that you understand it is a non-refundable transaction. This will then activate the “Buy Now” button which you must tap to continue.
The next page is for your payment details. Complete the required boxes, and decide whether you would like the app to save your card details, before clicking “Complete purchase” to confirm your order and begin the transaction. Wait a few seconds after clicking and you will be redirected from here.
A green tick will appear in the middle of your screen if your purchase was successful. You will see a reference number as well as details of your transaction in both Chiliz and your selected currency. Tap “Done” in the top left corner to be redirected back to your wallet. Do not worry if you forget to take a screenshot of your purchase – Socios will email you with a full receipt of your purchase.
You will then be taken back to your wallet page. If it was your first purchase, you will be rewarded with the “Shut Up & Take My Money award” congratulating you on adding to your wallet.
Swipe down on that to return to the complete wallet page.
By joining Socios.com you can have the best of both worlds, purchasing a digital asset to support your team which has the potential to rise in value, as well as making a change to your physical club through exclusive opportunities.
By signing up and purchasing Chiliz you have taken the first steps into the world of Socios.com and fan tokens. Once your Chiliz are exchanged, you will have access to a new community of fans as well as a wealth of unique opportunities.
In our upcoming guides, we will teach you how to convert these CHZ tokens to the token of your favorite clubs, and highlight the unique perks for your favorite teams, as these can differ from club to club.