Crypto gaming is an emerging gaming model that has attracted a lot of attention and investment. It combines blockchain technology with gaming, allowing players to use their rewards and items across different crypto gaming projects. Crypto gaming also offers players a way to earn money through a play-to-earn model, where they can buy, sell, and trade in-game items. The most popular crypto game, Alien Worlds, has over 1.16 million monthly users, while Axie Infinity, the second most popular game, has amassed over $1 billion in revenue. Crypto gaming is an attractive investment opportunity, with 128 blockchain gaming companies receiving a total of $1.2 billion in investments in the first quarter of 2022. There are various ways to invest in crypto gaming, including purchasing crypto game tokens on exchanges, participating in funding rounds for blockchain-based game companies, and investing time in playing and earning crypto rewards.
Characteristics | Values |
---|---|
Crypto wallet | Coinbase Wallet |
Crypto wallet type | Self-custody wallet |
Crypto wallet cost | Free |
Crypto wallet availability | Mobile app and browser extension |
Crypto wallet username | Required |
Crypto wallet recovery phrase | Write down and store securely |
Crypto wallet backup | Use Coinbase Wallet's cloud backup feature |
Crypto wallet purchase | Buy Crypto Global United |
Crypto wallet purchase cost | 0.01 per Crypto Global United |
Crypto wallet purchase payment methods | ETH, PayPal, digital gift card |
What You'll Learn
How to buy Crypto Games with USD Exchange Services
If you're a gamer and a crypto enthusiast, you can use USD exchange services to buy crypto games in a few different ways. Here's a step-by-step guide:
Option 1: BitPay Card
The BitPay Card is a prepaid crypto card that allows you to convert your crypto into cash and use it across various gaming platforms and consoles. Here's how to use it:
- Download the BitPay app and sign up for the BitPay Card.
- Load the BitPay Card with crypto from your wallet.
- Use the BitPay Card like a debit card to purchase games on your favorite platforms, such as Steam, Origin, PlayStation, Xbox, Nintendo, and more.
Option 2: Gaming Gift Cards
You can also use USD exchange services to buy gaming gift cards with crypto. Here's how:
- Use a platform like BitPay to buy gift cards for gaming sources like PlayStation, Xbox, Nintendo, GameStop, Twitch, Microsoft, and more.
- Instantly redeem and use the gift cards to purchase games or add-ons.
Option 3: Direct Payments
A select number of gaming companies accept direct crypto payments from your wallet. Popular platforms that accept crypto include Twitch, Blocklete Games, Microsoft, Gamesplanet, Playasia, and more. Here's how to make a direct payment:
- Ensure you have a crypto wallet with funds.
- Visit the website or platform of the gaming company that accepts crypto payments.
- Choose the game you want to purchase.
- Select crypto as your payment method and complete the transaction.
It's important to note that not all gaming platforms accept direct crypto payments. For example, Steam and Origin do not accept direct crypto payments, but you can use the BitPay Card as a workaround.
When investing in crypto gaming, always remember to do your own research and never invest more than you can afford to lose.
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How to buy Crypto Games with Other Cryptos
If you're a gamer and a crypto enthusiast, you can use your crypto to buy video games in three main ways:
Use a Crypto Card
Load a crypto card with your chosen cryptocurrency and use it like a debit card on your favourite gaming platforms. For example, the BitPay Card is accepted by Steam and Origin, two of the biggest gaming platforms, even though they don't accept direct crypto payments.
Buy Gaming Gift Cards with Crypto
Buy gift cards for specific gaming platforms or retailers with crypto. For example, you can buy gift cards for PlayStation, Xbox, Nintendo, GameStop, and more with crypto through the BitPay app or Extension.
Pay Straight from Your Crypto Wallet
A select number of gaming companies accept direct crypto payments from your wallet. Popular platforms that do so include Twitch, Blocklete Games, Microsoft, Gamesplanet, and Playasia.
Other Ways to Buy Crypto Games
If you're looking to buy crypto games themselves, rather than games with crypto, you can do so through exchanges such as Binance, which lists crypto game tokens like AXS. You can also participate in funding rounds for crypto gaming companies, such as Sky Mavis, Animoca, and Enjin, which have all recently raised money.
Remember, cryptocurrencies are volatile, so always do your own research before investing and never invest more than you can afford to lose.
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How to buy Crypto Global United
Crypto Global United (CGU) is a blockchain-based gaming platform that enables players to contribute, earn, and learn. It seeks to operate as a decentralised autonomous organisation, giving players community ownership. The platform's vision is to capitalise on the emergence of gaming to enable players in low-income countries to generate substantial income while gaining knowledge, developing skills, and participating in the global digital economy.
Download Coinbase Wallet
To purchase Crypto Global United, you will need a self-custody wallet like Coinbase Wallet. This is available as a mobile app and browser extension.
Choose a Coinbase Wallet username
When setting up your Coinbase Wallet, you will need to choose a username. This lets other Coinbase Wallet users send you crypto. You can keep your username private, but you will need one to access the account.
Securely store your recovery phrase
When you create a new self-custody wallet, you will be given a recovery phrase consisting of 12 random words. This is the key to your crypto, so do not share it with anyone. Write it down on paper and store it securely, and use Coinbase Wallet's cloud backup feature.
Understand and plan for Ethereum network fees
Fees vary based on network congestion, transaction complexity, and desired transaction speed. Plan to set aside some money for fees.
Buy and transfer ETH to Coinbase Wallet
If you don't have a Coinbase account, you'll need to create one to buy Ethereum (ETH). Once you have an account, the way you transfer ETH to your Coinbase Wallet depends on whether you're using the mobile app or the Chrome extension.
Use your ETH to buy Crypto Global United in the trade tab
Once you've added ETH to Coinbase Wallet, you can swap it for Crypto Global United in the mobile app or browser extension. Tap or click the "Swap" icon in the Assets tab, then select "Choose asset" and pick Crypto Global United. Input the amount of ETH you'd like to exchange, remembering to leave enough for transaction fees. Confirm your purchase and follow the on-screen instructions to finalise.
Other Things to Note:
- Crypto Global United is not currently available on Coinbase's centralised exchange in the United States, but you can buy it on Coinbase Wallet.
- The token for Crypto Global United is CGU.
- The current price of Crypto Global United is $0.0035 per CGU, with a 24-hour trading volume of $145.13.
- The all-time high of Crypto Global United was $7.26.
- The founders of Crypto Global United include Sergei Sergienko, Mark Carnegie, and Raman Nambiar.
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How to choose a cryptocurrency for yourself
With the ever-growing popularity of cryptocurrencies, it is important to do your research before investing. Here are some key factors to consider when choosing a cryptocurrency for yourself:
Do Your Research:
Firstly, it is crucial to understand the fundamentals of the cryptocurrency you are considering. This includes researching the team behind the currency, their expertise, track record, and ambitions. Assess if you trust them and believe in their vision. Read the white paper, which outlines the purpose, technology, workings, and overall vision of the cryptocurrency.
Assess the Community:
The success of a cryptocurrency is often linked to its following. Look for cryptocurrencies with strong communities and loyal followers, indicating genuine interest and belief in the project. Explore subreddits, YouTube channels, and feedback from their communities to gauge sentiment and better understand the hype.
Analyse the Technology:
Evaluate the underlying technology of the cryptocurrency. Understand how it performs against competitors and what makes it stand out. Look for cryptocurrencies with innovative technology that can disrupt the industry. For example, Ethereum's smart contracts and virtual machine technology have contributed to its success.
Consider the Supply and Demand:
Examine the total coins to be mined and the current supply. Cryptocurrencies with limited supply, like Bitcoin, can lead to increased demand and, consequently, higher prices.
Evaluate Use Cases:
The white paper should outline the use cases for the cryptocurrency. The more practical and diverse use cases a cryptocurrency has, the wider its acceptance and potential for growth in value. For instance, Ethereum's technology enables entire financial ecosystems to operate without central authorities, making it highly useful.
Security and Storage:
Consider the security and storage options offered by the cryptocurrency. "Cold" storage options, such as hardware wallets and paper wallets, are generally considered more secure as they can be taken offline. Evaluate the ease of use and accessibility of the storage solutions.
Purchase Availability:
Assess how easily the cryptocurrency can be purchased. Currencies available on major exchanges tend to have more potential for value increase due to higher accessibility. However, don't dismiss currencies that are harder to obtain; they may be undervalued, and the extra effort could pay off.
Marketing and Online Presence:
Evaluate the marketing strategies and online presence of the cryptocurrency. A well-marketed currency can gain more traction and success. Check their social media presence, online influencers promoting the currency, and the professionalism of their website.
Regulatory and Legal Considerations:
Ensure you understand the regulatory and legal landscape surrounding cryptocurrencies in your region. While they are legal in the US, the laws vary across countries. Additionally, consider the tax implications of buying and selling cryptocurrencies.
Diversify Your Portfolio:
As with any investment, it is generally wise to diversify your portfolio. Spread your investments across various cryptocurrencies to reduce risk. You can diversify based on factors like market capitalization, demand and supply, and use cases.
Remember, investing in cryptocurrencies is a risky endeavour. Only invest what you can afford to lose, and always do your due diligence before committing your funds.
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How to buy Crypto Games with a gift card
There are a few ways to buy crypto games with a gift card. One way is to purchase a gift card for a specific game or platform, such as Steam, Minecraft, or Roblox, using a cryptocurrency exchange like Coinsbee or Bitrefill. These platforms allow you to exchange cryptocurrencies like Bitcoin, Ethereum, or Litecoin for gift cards, which you can then redeem to purchase games.
Another option is to use a service like CoinGate, which offers a wide range of gift cards for various e-commerce platforms, including gaming ones. You can buy these gift cards with cryptocurrencies and then use them to purchase games from the respective platforms.
Additionally, some exchanges, such as Binance, allow you to buy crypto game tokens directly with cryptocurrencies. These tokens can then be used to purchase games or in-game items.
It is important to note that not all platforms accept all forms of cryptocurrencies, so it is essential to check the supported cryptocurrencies before making a purchase.
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Frequently asked questions
Crypto gaming is a decentralised form of gaming that uses blockchain technology. This means that players can use their rewards and items across different crypto gaming projects. Crypto gaming also offers a "play-to-earn" model, where players can earn money by selling in-game items or characters.
There are several ways to buy crypto games, including:
- Using USD exchange services like Gemini or Coinbase.
- Using other cryptocurrencies like Bitcoin, Litecoin or Ethereum.
- Using a platform like The Metaver Exchange, which allows you to swap different gaming tokens.
Some popular crypto games include Axie Infinity, Alien Worlds, and Splinterlands. These games have attracted a large number of players and generated significant revenue.
Crypto gaming offers several benefits over traditional gaming, including the ability to own in-game items and the opportunity to earn money while playing. Crypto gaming also provides a more diverse and interactive experience by combining blockchain and NFT technologies.
There are some risks associated with crypto gaming, including access barriers, the risk of losing tokens and NFTs, and the impact of volatility on the value of crypto game tokens. Additionally, the combination of gaming and cryptocurrencies may exacerbate the issue of gambling, especially among young people.