GameCredits brands itself as a currency that can be considered truly universal. The website indicates that 2.6 billion gamers around the world make use of gamecredits as a virtual wallet. As with all platforms for cryptocurrencies, GameCredits is also based on the blockchain technology. GameCredits aims to empower game developers and to boost growth of the gaming industry in order to increase adoption of digital currencies that are decentralised. The company behind GameCredits is GameCredits Inc., which is based out of Belgrade, Serbia.
What is GameCredits ?
The cryptocurrency used by GameCredits is GAME. This is a digital currency. The stated mission of the company is to make GameCredits the universal currency in the gaming universe by promoting the formation of a single ecosystem that integrates all games, the gamer who play those games, and the publishers who publish those games. Since the technology that is used to build GameCredits is based off Hbase and Hadoop, it provides high speeds for developers. The problem of scalability is also addressed. One of the major advantages of using GameCredits is that payments can be received in 60 hours. GameCredits focuses on changing the way in-game payments work on online games and focuses on its monetisation. This will be done by providing more freedom to developers and gamers alike.
Where to buy GameCredits?
GameCredits can be bought online using their official website. People wishing to buy GameCredits can use their debit or credit cards online to buy the currency. Also, exchange of other cryptocurrencies for GameCredits is also possible. Through this, people can buy Bitcoin or Ether and then use a cryptocurrency exchange site in order to obtain GameCredits. Popular cryptocurrency exchange sites that can be used are Poloniex, Bittrex, Allcoin, Cryptopia, BTSR, Bitsquare, Boxbase, Livecoin, Nova Exchange, and so on.
GameCredits has its own wallet that is known as G Wallet. The G Wallet is the latest wallet, an upgrade from the previous one for reasons pertaining to security. It is necessary to own a GameCredits Wallet before being able to buy and store GAME. There are Windows, Linux and Mac versions of the wallet.
It is possible to mine GAME. But in order to mine GAME, it is necessary to have a GameCredits Wallet. The app called GShare BETA helps mine GAME with close to no effort. The user only has to initiate the mining process with a click. The algorithm used for mining is Scrypt. The reward for every block mined is 12.5 coins. The total number of GAME coins available is capped at 84 million. There are five major mining pools that GameCredits relies on. A new user can join any of them in order to mine the currency.
GameCredits Price trends
As of the initial days of May 2018, one GAME coin was worth about $1.87 (USD). A quick look at the historical price chart indicates that the value of GAME began steadily increasing only around May 2017. Between May 2017 and September 2017, GAME experienced two sharp spikes in prices, breaching the $4.50 (USD) mark. The second spike was followed by a sharp decline after which the prices remained steady for a while before spiking again in January and February 2018, temporarily breaching the $6 (USD) mark, during the time all cryptocurrencies were booming. This was also followed by a period of decline as investor interest waned. The historical price trends are given here:
Risks associated with GAME
As with all cryptocurrencies, GAME too runs the risk of being banned by governments around the world. This is because the cryptocurrency market is not regulated. Moreover, it can be seen from the historical price trends that the cryptocurrency experiences a high level of volatility. Therefore, it is quite possible that an investor loses money while investing in cryptocurrencies. Instead, it is recommended that an investor consider mutual funds which deliver better returns at a lower risk compared to cryptocurrencies.