How to Buy GameCredits - Where to Purchase GAME?
Launched in early 2014, GameCredits (GAME) is a cryptocurrency designed to facilitate the easy exchange of in-game items amongst the gamers. It also offers a new innovative gaming experience to players, enabling them to stake their GAME coins on their favourite games, and then get rewarded for it.
Developers can use the GameCredits platform to smoothly offer blockchain-based in-game items within their games. GameCredits is secured by the Ethereum network and recently merged with NovaToken into one single ERC-20 currency. GAME was last trading at $0.253 per token at the time of creating this guide (May 2021), with a total market cap of around $35 million.
Is trading in GAME or investing in this cryptocurrency a viable and sustainable option? GameCredits is backed by some of the leading industry veterans, and has strong fundamentals to prove as an excellent investment option for both new and experienced investors. If you’re getting initiated into crypto investments, you can use this guide as a comprehensive tool, to learn all about buying GameCredits.
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Why Trade rather than Buy GameCredits for Cheap and Fast Returns?
You Don’t Need a Wallet:
You trade on the price movement of the coin without having to buy and store it.
You Can Use Standard Payment Methods:
All regulated brokers accept popular methods of payment such as credit/debit card and bank transfers.
Trades Are Fast and Withdrawals Are Easy:
Trades are executed within seconds and withdrawals will reflect instantly in your account.
What is the Easiest Way and Best Way to Buy? Compare the Top GameCredits Brokers
The easiest and best place to buy GAME will depend on how experienced you are in the crypto industry. It’s often seen that new crypto investors head to an online crypto exchange straightaway, thinking that’s the easiest way to buy GAME, but then get discouraged by the complexity of such platforms.
Then there are brokerage platforms which are comparatively less complicated, and offer a simpler and more dynamic means for making GAME investments. In fact, they can be considered one of the best places to buy GAME online. Not only do they have user-friendly interfaces, they also provide derivative products like Contracts for Difference (CFDs), Futures, and Options.
As a result, you can buy and sell GAME coins on these platforms and/or also speculate on their price movements, without actually owning them at all. When you go online to research the best crypto brokers to buy GameCredits from, you’ll discover how easy it is to buy GAME on such platforms.
It’s important that you choose a broker website only after conducting a thorough comparative analysis between the top ones. This analysis must be done based on factors like their security protocols, value-added services, fees, customer care, regulatory compliance and more. It is only after such thorough comparative analysis that you’ll be able to locate the best website to buy GAME from.
5 Things to Consider if you Want to Buy GameCredits
It’s important that you keep certain points in mind before going ahead and buying GameCredits online. You must take heed of each one of these considerations, to stay well-informed whenever you visit any provider’s website to buy GAME tokens. Below we have detailed some of these important considerations for you:
1. Carefully choose your preferred secure payment method
It is common knowledge that the available payment methods vary from country to country, based on their respective laws. If you come across multiple modes of payment on a cryptocurrency broker/exchange, opt for the one that comes with least amount of formalities, lowest cost, and greatest convenience.
2. Will you need to set up your own wallet?
If you’re investing in GAME with a long-term perspective, you’ll need to store your coins in some secure crypto wallet. Considering the mishaps of the past, leaving any coins in an exchange account can be suicidal. You can choose from any of the popular wallet options offered in the market, depending upon your accessibility needs and security concerns.
But if you invest in GameCredits through a derivative like a CFD on a brokerage platform, you’ll not require any wallet, as there will be no actual GAME coins exchanged.
3. Comparing costs
GameCredits merged with NovaToken a year ago, with the idea of providing a more comprehensive experience for gamers. Both the network currencies NVT and GAME merged to form one currency GAME on the Ethereum platform, as a new ERC-20 GAME token.
Even though the Game Credits Platform utilises something known as a Polygon (Matic) sidechain, which helps them improve security, storage and scalability, while reducing costs, the Ethereum blockchain’s Gas fee for processing of ERC-20 token transactions does come into play.
You can reduce this transaction cost by using a regulated broker or exchange platform to buy and sell your GAME tokens. Alternatively, you can also use the CFD route to invest in GAME and exploit its price volatility, without acquiring any GAME ownership at all.
4. Safety and security
GameCredits uses the Polygon (Matic) network, in the form of its Polygon sidechain, enabling gaming developers to make the most of Ethereum’s capabilities, without having to deal with any of its drawbacks. At the same time, Polygon sidechain helps retain all the security benefits offered by the Ethereum blockchain, including its solid Proof of Stake (PoS) consensus mechanism. Other than that, GAME transactions on regulated broker and exchange platforms are further secured using cryptographic security protocols like 2FA (Two-Factor Authentication), MT4 (MetaTrader 4), MT5 (MetaTrader 5) etc.
5. Can you understand and navigate the platform?
If it’s your first time buying GAME, or any cryptocurrency, you must ensure that you properly navigate the broker/exchange platform you’re planning to use. Doing so will prevent any unintentional errors that can be very problematic later. In this regard, it would be better that you stay away from websites that appear too complex to use. Please note, the majority of reputed broker portals offer user-friendly interfaces, and are regularly used by many experienced and new crypto buyers.
Ultimate Beginner’s Guide to Trading GameCredits
What is a GameCredits Broker?
A cryptocurrency broker, unlike an exchange platform, serves as an intermediary between you and the cryptocurrency market. The prices are set by the broker and you don’t transact with any buyer or seller directly.
Apart from offering a wide range of cryptocurrencies, including GAME, for purchase, brokers also provide derivatives like Futures, Options and CFDs. When you transact with a GameCredits broker, you’ll be able to bet on its future price movements using the above-mentioned derivatives, without blocking out a lot of capital.
What is a GameCredits CFD?A GameCredits CFD (Contract for Difference) is a financial instrument that will enable you to speculate on GAME’s future price movements, in both directions, without any actual exchange of GAME tokens. The profit or loss will be decided based on the accuracy of your predictions. Most CFD brokers also provide the leverage option to traders, allowing them to borrow funds to gain higher market exposure. For such trades, brokers keep a small percentage of trade value as security, also referred to as margin.
What is the Benefit of GameCredits Regulation?
We cannot stress enough that whenever you plan to buy or trade GameCredits, you must deal with only regulated cryptocurrency brokers, approved by reputed global authorities. Though these websites may ask you for personal details, a government-issued photo ID and sometimes even a separate proof of address, they do it in compliance with their KYC processes. It’s all done to ensure that you stay shielded from antisocial elements. Such regulation also helps by improving investor confidence in crypto markets.
What is the Best Payment Method for Buying GameCredits?
The payment methods offered to you will depend mainly on the crypto and financial laws prevalent in your country. Let’s tell you about a few of the commonly used payment options in various countries.
Buying GameCredits with credit/debit card This is widely believed to be the quickest way to buy GAME on the Internet today. All you require is a working credit or debit card, with ample credit limit or funds in your account respectively. You’ll have to open an account with a crypto exchange or regulated broker website first. Please cross-check that it accepts fiat currencies in exchange for GameCredits. Thereafter, connect your credit/debit card with your account and then deposit funds to purchase GAME.
Buying GameCredits with another cryptocurrency This is another easy way to acquire GAME tokens. To buy GameCredits this way, first locate a crypto exchange that lists GAME as an available cryptocurrency, and offers a trading pair suitable to you. If you have the coin that GAME is paired with, you can deposit it into your account (with the platform) and then execute the trade.
Buying GameCredits with bank transfer The most popular means of purchasing cryptocurrency today, bank transfers are also widely accepted by crypto exchanges and brokers all over the Internet. Though they don’t offer the same high processing capacity or convenience, their lower fees makes them popular amongst the masses. Buying GameCredits through bank transfer is usually easier on a broker website than on an exchange. This is because regulated brokers are normally open to accepting a wide range of fiat currencies, and often charge lower fees.
Buying GameCredits with PayPal Although PayPal is used the world over as a popular payment method, there might not be many crypto exchanges accepting it as a valid form of payment. On the other hand, brokers being regulated, are more likely to accept it without any hassles. Purchasing GameCredits from a broker platform will normally be a straightforward and simple process. PayPal’s fee normally falls somewhere between what’s charged by credit/debit cards and bank transfers. Nevertheless, do verify it from the platform before depositing any funds.
The Verification Process for Trading GameCredits
Whenever you sign up with a regulated broker to trade or buy GameCredits, you’ll need to abide by its KYC norms, and upload certain documents to verify your personal identity. The process isn’t very long in most cases, and can be completed within a few minutes (if you have the documents ready).
Normally, these documents include a government-issued photo ID and a separate proof of address. The main purpose of this process is to protect traders from bad actors, and to ensure that everyone who signs up does so for the right reasons.
GameCredits: Long vs Short Term Investment
When investing in cryptocurrencies, you can take the long-term and/or short-term investment approach. Both work well in the case of GameCredits. If you plan to use GAME tokens for short-term trading, make sure that you acquaint yourself with few of the well-known analytical tools and spend some time trading with their help. A regulated broker platform will prove to be ideal for such activity, as it will also allow you to use leveraged derivative products like CFDs to trade large volumes without tying up a lot of capital.
Long-term GameCredits investors usually adopt the ‘Buy and HODL’ investment strategy. They purchase GAME tokens from the market and then keep them safe in a cold hardware wallet, hoping for its price to appreciate over a period of time. It’s worth mentioning that such a long-term approach doesn’t require any prior trading experience or knowledge.
Why Buy GameCredits rather than Trade?
Many people believe that the ideal approach to investing in GameCredits is finding the cheapest way to buy GAME and then holding onto the tokens, in a safe wallet, hoping to book some profit in the longer run. Whether yours is the fastest GAME purchase or not doesn’t matter so much in this scenario. Though there’s no harm in using this strategy and being optimistic about it, please remember that the process may be quite lengthy for new GameCredits investors. You may have to do thorough research to locate the right crypto exchange to buy GAME cheap and then learn about setting up of wallets, to secure your GAME tokens.
On the other hand, for short-term trading in GameCredits, you’ll need to locate a reliable broker to sell and buy GAME instantly, so you can time your exits and entries accordingly. This type of activity can be profitable for people who have some trading experience under their belt, and can effectively use analytical tools to make timely market entries and exits.
What Fees are Involved in Buying GameCredits?
GAME being an Ethereum based ERC-20 token, involves a certain fee (called Gas) for any processing of GAME transactions on the Ethereum blockchain. Though you can reduce this fee by avoiding smaller GameCredits transactions and using a crypto exchange or broker website for your purchase, you cannot avoid it completely. Below-listed are some of the fees involved in buying GAME online.
Transaction fees As emphasised above, there will be some fee involved in processing of GameCredits transactions on the Ethereum blockchain, but you can reduce it by opting for a crypto broker or exchange to buy GAME through a derivative product.
Deposit fees While deposit fees is one of the primary ways in which cryptocurrency exchanges make their income, brokers tend to waive this fee, in order to attract more people to their platforms. Even if they do charge something as a deposit fee, they make it marginal, and much lower than exchanges. Additionally, different payment methods may attract different amounts of deposit fee.
Withdrawal fees Both broker and exchange websites take a small percentage of withdrawals as a withdrawal fee. As in the case of deposits, brokers charge lower withdrawal fees compared to exchanges. Once again, the extent of fees charged usually varies between payment methods.
Safely Storing Your GameCredits
Cryptocurrency wallets are software applications meant to secure your crypto tokens and make them available whenever you need them. Once you have bought GameCredits, you will need to store your tokens in a crypto wallet of your choice, based on your preferences. Below we will discuss some of the most well-known types of wallet available in the market.
Web Wallet Provided as a part of their service by brokerage and exchange websites, web wallets are one of the most convenient means of GAME storage. However, you cannot call them the safest around. They come with some inherent risks such as the exchange going out of business, the platform getting hacked, or as witnessed in the past, exchange owners running away with traders’ funds.
Mobile Wallet Mobile wallets have gained a lot of popularity over the past decade and are basically apps meant for mobile devices. Nowadays, many people trade cryptocurrencies through such mobile wallets. They offer a higher level of security than web wallets, but come with risks like hacking, phone theft and the like. Trust Wallet and MetaMask are a couple of frequently-used mobile wallets to store GameCredits.
Desktop Wallet Although less convenient compared to mobile wallets, especially because of the mobility factor, desktop wallets are more secure than their mobile counterparts. You can integrate a wide range of security enhancements into these wallets, to further safeguard your GAME tokens. Some of the popular desktop wallets used by GAME investors include Coinomi and HolyTransaction.
Hardware Wallet Hardware wallets can be termed as the safest of all the cryptocurrency wallets available in the market today. They bear close resemblance to USB pen drives, and hence can be easily carried around anywhere. These wallets stay offline most of the time and you must manually connect them to the Internet, to access your GAME tokens. That’s why they are also classified as cold wallets. Many long-term GAME investors use Trezor’s hardware wallets to store their tokens.
Wallet Combinations There’s a common saying that you should never put all your eggs in one basket. It applies perfectly to crypto storage. When it comes to using wallets to store your GAME coins you must always use multiple wallets to spread your holdings. For instance, you could store a portion of your GAME tokens on a hardware wallet, like a Trezor or Ledger, for long-term investment, and remaining on a mobile wallet such as MetaMask for easy accessibility. In fact, many of these wallets can be linked together, facilitating easy transfer of tokens between them.
What Other Coins Can I Trade or Use to Buy GameCredits?
Whenever you use any cryptocurrency exchange, you’ll often come across the term ‘Trading Pair’. It refers to a pair of cryptocurrencies which can be easily exchanged with each other. For instance, for GameCredits you may be offered trading pairs like GAME-ETH, GAME-BNB, and so on, implying that you can buy GameCredits with Binance Coin, Ethereum, or other cryptocurrencies permitted by the exchange.
What’s the Smallest and Largest Amount of GameCredits I Can Buy?
Novice GameCredits investors/traders often question – what’s the minimum purchase for GAME? Or if they’re allowed to buy GAME without limit? To answer that, the GAME buy limits, higher and lower, will depend mainly on the platform you’re transacting on.
Having stated the above, anyone asking, “can I buy less than one GAME?” should note that considering that GAME’s price is currently hovering around $0.25 per token, it may not make much sense to buy small amounts of GAME.
Furthermore, if you reside in a state/country where there are restrictions on the maximum amount of cryptocurrency you can purchase, you will need to refer to the local tax and crypto laws, to get a better idea about the upper limit.
Can I Buy GameCredits Anonymously with no ID? Is it Safe and Legal to Buy GameCredits?
Anyone wondering if they can buy GAME without ID or if they can somehow buy GAME with no verification at all, must first understand why regulated platforms require such verifications. They do it to protect traders and investors from antisocial elements who can put the former’s hard-earned funds at risk. Therefore, the best way you can buy GAME safely is by ensuring that you’re transacting on a fully-regulated crypto broker or exchange. There is no better way to engage in a fully secure GAME purchase.
And if there is any portal that allows you to buy GAME anonymously, without the need of any personal details or identity verification, you must tread cautiously and avoid investing large sums of money.
Will Buying GameCredits Make Me Money?
If you come across anyone pitching a ‘Buy GAME Get Rich’ type of scheme or promising 100% success with GAME investing, they might not be showing you the entire picture. GameCredits like any other cryptocurrency out there is exposed to the crypto market’s volatility.
So, if you’re thinking, should I buy GAME or not, you must first reflect on your own skills, knowledge and experience in buying and trading cryptocurrencies. Though there have been people who’ve made fortunes from such activity, the losses can also be equally bigger. We found GAME’s price fluctuating between $0.20 and $0.25 many times within a 24-hour time period, so you can well imagine the kind of opportunity it provides to short-term traders.
Please feel free to visit our GameCredits Price page if you’d like more details on the best place to buy GAME, or would like to learn how much does it cost to buy GAME exactly at this moment.
How to Spend your GameCredits
GAME is primarily a token used to facilitate easy trading of in-game items. Other than that, it is used for trading purposes on cryptocurrency exchanges and broker platforms. Hence, unlike Bitcoin, Litecoin and other cryptocurrencies which work mainly as digital payment methods, you may not be able to buy any goods or services using GAME at online and offline merchants.
How to Sell your GameCredits
The two of the most popular ways of selling GameCredits are on a regulated broker website or a well-known crypto exchange. You can also sell them within your favourite games, in exchange for in-game items.
When taking the exchange route, you will need to first deposit your GAME tokens into your account with the exchange platform, and then open a ‘Sell’ trade to exchange your GameCredits with a fiat currency or any other cryptocurrency, depending upon the options provided by the exchange.
Regulated broker platforms will also allow you to sell your GAME tokens at a price defined by them. On the other hand, if you had used a derivative like CFD to buy a certain amount of GAME tokens, the selling process would be much simpler, as there will be no actual transfer of tokens involved. You’ll need to simply close your CFD position and book a profit or loss, based on GAME’s current price.
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Frequently Asked Questions
No, the creators of GameCredits didn’t want users to be hassled with managing private keys, so don’t offer a native wallet. Rather, users can secure their assets through in-game accounts.
GameCredits’ all-time high was $6.90 on January 09, 2018, and all-time low was $0.00000321 on Nov 01, 2014.
GameCredits was founded by a gaming enthusiast named Sergey Sholom, who is also a serial entrepreneur and holds a PhD in mathematics.
GameCredits is presently partnered with some of the leading brands in the industry including The Non-Fungible Alliance, Skale, Digitible, Blockchain Game Alliance (BGA), and Polygon (previously Matic Network).
GameCredits has an ERC-20 token named GAME, and uses the Ethereum blockchain for its transactions. As a result, it is secured using Ethereum’s Proof-of-Stake consensus mechanism.
GameCredits is ramping up the adoption of its NFT and eSports services. They are constantly working on their eSports strategy and are gradually moving towards making GAME the de facto in-game currency for the online gaming world.
Out of the total maximum supply of 200 million GAME tokens, there were around 139 million GAME in circulation at the time of writing this guide.
Yes, regulated crypto platforms are safer than non-regulated crypto exchanges. Their regulation ensures that they allocate sufficient resources to secure the traders’ interests.
Regulated brokerage platforms are normally a part of certain investor compensation schemes, and are bound to indemnify investors against any financial losses caused by their bankruptcy.