GameCredits: Everything Beginners Need To Know

Are you a movie spel and/or a cryptocurrency paramour?

Your reaction: Yes I am!!

Well, then you voorwaarde be interested ter listening to what I have to say today.

But wait, what do cryptocurrencies have to do with movie games?

Well, with the introduction of Bitcoin and the blockchain, a wedren has embarked to make everything decentralized and digital.

From our identity, to our money, to our real estate’s contracts, everything is being redesigned to be taken to the blockchain.

Then why should the $100 billion dollar gaming industry be left behind?

The gaming industry is going on the blockchain, and the company behind it is GameCredits Inc.

GameCredits (Spel) is the cryptocurrency of this fresh ecosystem, and they are here to solve some of the fundamental problems and friction points of the gaming industry.

And that is what wij are going to discuss today…

But before wij embark, I would recommend you observe this brief movie on how the gaming industry works. This will help you quickly grab why GameCredits matters and what they are doing.

Ter a nutshell, the gaming industry mainly has thesis key players:

  • Developers – People who develop the gaming software.
  • Distribution & Marketing – People who market and distribute the gaming software.
  • Gamers (aka Consumers) – People who consume/play those games.

What are GameCredits?

GameCredits (Spel) is a digital currency based on blockchain. Its purpose is to become the universal currency for Two.6 billion gamers worldwide, to empower spel developers both big and petite ter order to further grow the 100 billion dollar gaming industry, and to accelerate the broad adoption of decentralized cryptocurrencies spil a better alternative to government-issued fiats.

GameCredits (Spel) is an open source peer-to-peer digital cryptocurrency designed for in-game payments, spil well spil for payouts to developers and gamers.

It wasgoed incepted ter 2015 under the name GamersCoin (GMC). It wasgoed straks rebranded to GameCredits (Spel). It is primarily a technical clone of Litecoin (LTC) before SegWit, with some improvements here and there specific to their gaming requirements.

GameCredits (Spel) Specifications

  • Total Coin Supply: 84,000,000
  • Block Time: 90 seconds
  • Block Prize: 25 coins
  • Retarget: Every block
  • Algorithm: Scrypt

What is GameCredits Inc.?

GameCredits Inc. is a company which includes people of diverse backgrounds who are experts from both the blockchain and gaming industries. It began operations te 2016 and consists of several original founders of the GameCredits (Spel) cryptocurrency.

The co-founders include Nebojsa Maksimovic (nicknamed Nele) and Aleksandar Mihajlovic (Alex).

They have also partnered with Datcroft Games LTD- a giant gaming development and marketing company having overheen 12 million registered gamers.

Together with GameCredits Inc., they are committed to designing a frictionless payment gateway and blockchain-based in-game monetization toneelpodium for the gaming industry.

Note: This is a proprietary payment gateway which permits gamers to purchase in-game content for the games listed on the GameCredits gaming store.

Wij strive to create the most cutting edge payment solutions and make them available to the mass gaming market. Wij will offerande the gaming industry ways to pay less and make more. Our te spel payment gateway is built for the gaming industry by the gaming industry.

-Mission of GameCredits Inc.

Ter the very beginning, the founder of GameCredits wasgoed not that visionary. But the entire concept wasgoed supported and driven by two very pioneering co-founders, Nebojsa Maksimovic (nicknamed Nele) and Aleksandar Mihajlovic (Alex). And since then, the overall ecosystem has matured.

To find more details about the GameCredits team, visit here.

Benefits of GameCredits (Spel)

By using the GameCredits cryptocurrency (Spel) and the GameCredits toneelpodium, Trio key actors of the gaming industry will get what they want, which the traditional currency and gaming platforms cannot provide.

Problems the Trio key actors of this industry face:

Ter traditional platforms, gamers have low currency deposit boundaries, there is a low amount of security and anonymity for their identities, and they can’t transfer money or credits seamlessly across different games which they have earned te one spel.

Spil a result of the latter, whenever they switch games, they have to pay a toverfee to banks for making an in-game purchase.

Te traditional gaming platforms and payment solutions, spil the deposits are low for gamers and banking takes a cut for the deposits, this naturally affects the revenues of gaming companies.

For developers, the traditional way brings a loterijlot of challenges. They need to wait for weeks (ondergrens 60 days) for their earning to get processed. Moreover, when their payment arrives, it is up to 30% less than the actual profit because of the publishing platforms like the App Store and Google Play who take their cut very first.

There are also some gamers who make fraudulent payments ter which developers lose their earnings.

All of thesis problems can be bypassed by using the GameCredits cryptocurrency and their gaming podium.

GameCredits’s Benefits For Gaming Companies & Spel Developers

Spel Developers on Google play vs Gstore

  • They get their share of 90% instead of 70% for their services on the GameCredits store.
  • They can get their payments ter a maximum of 60 hours, which is quicker than any other toneel at present on the market.
  • There can’t be fraud payments using the payment gateway.
  • They can kwestie games free of cost with a ondergrens revenue share of 10% against 30% ter comparison to GameCredits’s peers.
  • They can concentrate on development and idea creation instead of other issues.

Total Supply of GameCredits (Spel)

GameCredits (Spel) is a clone of LTC and is a mineable cryptocurrency which uses the Scrypt algorithm. Every 1.Five minutes, a GameCredits block is mined, and 25 coins are generated vanaf block prize.

The total number of GameCredits to everzwijn be produced is 84 million units. At present, there are 64,355,352 million units te circulation.

Market Cap of GameCredits (Spel)

At the time of writing, spil vanaf CoinMarketCap, the total circulating supply of GameCredits is 64,324,548 million, and the price of each unit is $Two.23, which puts the market capitalization of GameCredits at $143.Five million.

How to Buy GameCredits Cryptocurrency

Ter my opinion, GameCredits is the most lightly purchasable altcoin. It is listed on many exchanges and can be bought ter onmiddellijk exchange of fiat (USD, EUR, GBP etc) via their special proprietary payment gateway and wallet.

Another effortless way of buying GameCredits is through Changelly. Here you can exchange your other coins, such spil BTC, LTC, or ETH, ter exchange of GameCredits tokens. The proces is very elementary.

You will require the following things to buy GameCredits:

  1. Your GameCredits address where you would like to get your GameCredits tokens.
  2. Some other crypto coins to exchange for GameCredits.

Note: However this guide shows how to buy Ripple te exchange for BTC, the process is the same to buy GameCredits (Spel).

Buying an altcoin directly from fiat is very infrequent. Generally, when you need to buy an altcoin, you need to very first go and buy BTC/ETH te exchange for fiat and then exchange that BTC/ETC coin for the altcoin.

But you can buy GameCredits (Spel) directly from their proprietary payment gateway te exchange of fiat currency like USD, EUR, or GBP via a credit/debit card. Through this wallet, you can also buy Spel using BTC spil well.

Soon they are programma to add more fiat currencies and cryptocurrencies for users to buy GameCredits.

The only drawback I see here is that it is a hosted wallet where you don’t have access to your private keys. However, the company claims it to be a specially designed payment gateway for preventing fraud.

But ter my opinion, if they somehow convert this into a non-hosted wallet, then it will become a go-to wallet for many gamers and cryptocurrency paramours.

ShapeShift is an exchange toneel similar to Changelly. Here you can also buy GameCredits by exchanging any supported cryptocurrency.

At present, ShapeShift supports more than 30 cryptocurrencies (including GameCredits).

Personally, I choose using Changelly for better exchange rates and a better transaction history feature to track my funds.

If you need to know the step-by-step process of exchanging other cryptocurrencies for Spel, see our guide on ShapeShift.

Note: However this guide is for exchanging ETH for BTC, the process is exactly the same for buying Spel.

Buy GameCredits from Exchanges

  1. Livecoin- Supported pairs are Spel/BTC
  2. HitBTC Supported pairs are Spel/BTC
  3. Poloniex-Supported pairs are Spel/BTC
  4. Bittrex-Supported pairs are Spel/BTC
  5. Cryptopia-Supported pairs are Spel/BTC
  6. YoBit – Supported pairs are Spel/BTC

GameCredits (Spel) Wallets

GameCredits is one of the oldest altcoins ter the market. Since its inception 2015, numerous wallets have mushroomed to sate the needs of various users.

At present, the Android version of the wallet is also a hosted wallet which doesn’t have the private keys. But the two-factor authentication makes your funds secure.

More innovations are underway ter GameCredits, and soon there will be an iOS wallet.

The GameCredits team and their partnerships are looking more solid than everzwijn. Some of you may lightly say that their cryptocurrency has not done so well ter the last Trio years, but let’s understand that it takes time to pauze the stigma and conservatism of any industry.

Even when I wasgoed present at the BTCC Conference Te Mumbai (10th August 2017) I wasgoed able to speak with Sergey Sholom (CEO) te detail. There GameCredits also unveiled their revolutionary concept of GNation &ndash, Nation of gamers. With GNation, they aim to unite the gaming community under one umbrella which provides end-to-end solutions for all. They talked about the Indian gaming market which is expected to increase more than Trio times by 2020. Also, GameCredit’s integration with BitBay and payment processors like Paytm & PayU will open up further possibilities.

India’s largest payment providers PayTM and PayU are coming to the GWallet. The $Spel is on! #cryptocurrency #gaming pic.twitter.com/sPyrMtZmzW

Also, they have an titillating lineup of products to capture the attention of gamers, developers, miners, and traders. Some of which are such spil:-

From the standpoint of crypto investment since 2015, the Spel crypto has grown steadily at a rate of more than 1500% which is better than any other existing non-crypto investment muziekinstrument.

Te the next 3-5 years, if GameCredits is able to do what it says, then for low-risk investors, investment te Spel would prove to be very valuable.

And unnecessary to say that the gaming industry is one of the greatest use cases for blockchains and cryptos. Even if GameCredits is able to grab a fraction of the gaming industry pie, which is a staggering $100 billion dollar pie, then it will be reaping ample profits for its investors.

Let’s say that if GameCredits Inc. is able to get a 10% share of the market, this means that $Ten billion would be used annually by gamers and developers. And this would be around the same value for the market cap (which is now just $100 million).

Moreover, if the user base of the GameCredits store increases, there will be more request of the GameCredits crypto (Spel) to access the games. This will lead to a price rally.

Chic from all this, their latest stir of launching an ICO for the MobileGo project wasgoed very brainy. The funds collected during the MGO tokens sale will mostly be spent on marketing and development of the GameCredits Mobile Store. A big share will be also spent on onmiddellijk marketing to acquire more gamers on the verhoging, which will, ter turn, increase the request for GameCredits.

Sorry guys, I had to talk about MobileGo because without talking about it, the real potential of GameCredits wouldn’t be clear. I know it feels like the last missing chunk of the puzzle, but I have to leave that for another article. I will be back soon with a detailed introductory guide on the MobileGo project and tokens.

So until that time, stay tuned to CoinSutra and keep learning about the blockchain revolution!

Here are a few more Cryptocurrencies that you voorwaarde know:

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