Crypto gaming really is a match made in heaven. Blending the immensely popular world of gaming with the growing global popularity of digital assets is a decision that just might change the world, or at least the lives of thousands of people. One of the greatest advantages of playing crypto games is the many rewards these platforms provide to their users. Many crypto games are play-to-earn, meaning that simply by playing them, you can earn valuable crypto coins or NFTs. But then that leads to the bigger question of what you should do with those rewards? In this article, we’ll answer just that.
What are Crypto Games?
Crypto games are games that run on the blockchain. Specifically, these are video games that can be played on any device as long as it has an internet connection. The games vary in genre and play style, but all have a few features in common. Firstly, players can earn in-game currency, such as NFTs, that can be used to purchase items and perks within the world of the game. Secondly, players will have the opportunity to earn various forms of cryptocurrency, which can then be used outside of the game. With that in mind, let’s explore some of the best ways you could spend the crypto that you’ll earn playing these games.
Crypto Casinos
Crypto gambling is a perfect way to make use of any crypto rewards you’ve earned through playing crypto games. First and foremost, doing this allows you to move from one game to another and keeps your crypto activities entertaining. Not only that, but using crypto to wager in crypto casinos means you do not have to part with any of your own money in the traditional sense, meaning gaming and the rest of your life can be kept separate. On top of this, crypto casinos excel over their traditional counterparts due to the additional security benefits they provide to users, the fact that individuals can wager and withdraw funds almost immediately, and the volatility of crypto, meaning they can make an extra bet within the casino setting. Additionally, many crypto casinos have 24/7 customer service available as well as a myriad of enticing bonuses and rewards for both new and seasoned players.
Spending
Like all forms of currency, one of the most exciting things to do with crypto is spend it. As cryptocurrency experiences more and more global and country-wide adoption, more and more places are accepting it as a legal payment method. As such, you’ll be able to find retailers both online and on the high street that accept crypto as payment for their goods. Some examples of companies that accept crypto now are Starbucks, Ikea, and Tesla. As it stands, 28% of American adults own or have owned cryptocurrency, but many more have stated that they are planning on investing in the future. With that in mind, a lot of people view crypto as the future of finance, and as such, believe it is only a matter of time before it becomes a regular form of payment, as common as Apple Pay, everywhere in the US.
Store it
The thing that sets cryptocurrency apart from other, more traditional payment methods is its volatility. In this context, volatility refers to the tendency of crypto to rise and fall in value over time. The best example of this comes from the most popular form of cryptocurrency, Bitcoin. Bitcoin currently has a value of over $109,000. However, when it was first created in 2009, the value was less than a single dollar. As such, it might be a good idea to store your crypto and keep it in hopes that its value will increase and you’ll be able to sell it at a higher price at a later date. To store crypto, you’ll need to use a crypto wallet. There are two kinds of crypto wallets out there, and these are known as hot wallets and cold wallets. Hot wallets are easier to access and make transactions much quicker, while cold wallets store your crypto offline, making transactions slower but increasing the security.
Sell it
As mentioned, if the value of the coin you own is currently high, or if you have no interest in crypto beyond its ability to make you money in the traditional sense, then you may want to sell the crypto rewards you earned while gaming. To sell crypto, it’s a good idea to sign up for a crypto exchange platform such as Coinbase or Kraken. These are platforms that facilitate the trading of cryptocurrencies and are often the places people go to when looking to purchase crypto of their own. When choosing a crypto exchange platform to use, it’s a good idea to pay attention to the reputation of the site, as well as whatever customer service availability they provide.
Staking
If you’re not sure what to do with the crypto rewards you have earned while gaming, why not look into staking? This is when you agree to neither sell nor spend your crypto but lock it into the blockchain network and receive interest, in the form of cryptocurrency, for doing so. This can be especially useful for those who regularly make use of crypto gaming sites, as when you earn more crypto, you can continually stake more and earn more and more interest by doing so. The crypto that is provided to you as interest can then be used in any of the things on this list, or can also be staked.
Send it to someone
One of the greatest advantages of cryptocurrency is that it is decentralized. This means that it doesn’t rely on the facilitation of banks or other third parties to be used. As such, crypto is a great asset to send to others. Peer-to-peer transactions are one of the defining features of cryptocurrency. This is especially useful if you are looking to send funds overseas, as crypto is universal and so will not need to be exchanged for another country’s currency. Not only this, but sending cryptocurrency overseas has proven to be not only simpler and quicker than sending traditional money but also considerably cheaper.
Conclusion
Anyone who enjoys gaming in their free time should take a look at crypto gaming. Not only does this form of recreational activity have all the cognitive and mental health benefits that gaming itself has been proven to have, but it can also lead you to earn crypto. Once that crypto has been earned on these games, it belongs to you, and as such, it is up to you to decide what to do with it. Hopefully, this article has given you some ideas.
