Gamecredits is a virtual wallet or payment gateway for game developers, distributors as well as marketers. It is also a universal currency for gamers. This virtual currency was launched in 2015, though it became operational only in 2016. Its ticker symbol is GAME. In all, there are 84,000,000 GAME coins but the circulating supply is about 64, 324, 548 million GAME coins, which are being sold at $2.23 each, bringing the market capitalization to approximately $143.5 million. This platform uses the Scrypt algorithm like Litecoin. This cryptocurrency was created by Datcroft Games Limited along with Aleksander Mihajlovik, and Nebojsa Maksimovic.
Virtual goods like games are extremely popular, but developers are often left short changed when they sell the games. This is because credit cards are often used to purchase games, and sometimes transactions may be fraudulent. Gamecredits was originally developed to overcome this problem. Now, developers can sell both games as well as in games, while being confident that they would receive their payment. Likewise, gaming sites, i.e., marketers and distributors of the games too can benefit.
Gamers are often hesitant to indulge in their passion of gambling online or playing other games because of privacy issues. Likewise, there is the fear of hacking of bank accounts. Gamecredits ensures complete privacy thanks to the integration of the blockchain technology. The payment gateway offers a considerably high security level because of a decentralized system. The transactions cannot be manipulated and they are 100 percent permanent with this token.
From a gamer’s perspective there are various benefits. First off it offers them anonymity, and a better method for money transferability as the player can easily shift the credits from one game to another. There is adequate safety for keeping or storing their money too. It also offers them more deposit options with higher deposit limits. There will be incentives offered to use this coin, which is indirectly increasing the purchase power of the players. The coin will also appreciate in value over a period, thus increasing the wealth of players. The integration of the payment system is seamless and payouts are quick too.
From the perspective of game developers, distributors, marketers, and gaming companies, Gamecredits allows them to receive payments faster, i.e., within just 60 hours, and it also facilitates higher limits for deposits. The processing speed is higher, and there is a way to protect the data from fraud. The immutable ledgers system that blockchains offer ensures virtual absence of fraud. Transactions can be verified thanks to the security of blockchains. It is also scalable. The hefty commission paid so far to Apple and Google can be avoided as the Gamecredits platform collects a much lower percentage of commission fees. Finally, it is possible for these parties to cross promote their games without compromising on private data.
The Gamecredits token can only be used in the gaming industry.
It does not have a parent child structure so there is a certain limitation in its analytical capabilities that can be accessed by others.
How to buy:
Buying GAME coins is easy because they can be bought with any of the major currencies such as GBP, USD or EUR. It can also be purchased with altcoin, or from Chengelly using other cryptocurrencies. Gamecredits has a proprietary payment gateway as well as a wallet.
As mentioned before, it can be traded for other cryptocurrencies like Bitcoin, Litecoin, or ETH through exchanges such as Chengelly. A Gamecredits wallet, however, is necessary for transferring the currency.
Storing cryptocurrency is different from buying it and trading it. It is also different from exchanging it and having it in the wallet. It needs to be stored in a way that it can’t be hacked since it is a virtual currency. The online wallet only gives access to it on a regular basis. The entire amount need not be stored in the wallet. It is susceptible to hacking unless stored. Storage is like putting all the available cryptocurrencies in a bank locker and leaving them there until they need to be pulled out.
When it comes to storing GAME coins, consider buying a hardware wallet. This has a microcontroller from which the information cannot be copied or sent in plain text. It facilitates storing of private keys. A hardware wallet is secure because it cannot get computer viruses.