Unlock the Benefits Of Virtual Currency with Card Games
By Tom Seest
At CardGameNews, we help people who love card games by collating information and news about card games.
In-game currencies are an integral component of modern games. They provide players with a means to purchase items that otherwise wouldn’t be available, as well as special items that only appear in certain titles. Unfortunately, however, many developers fail to design their in-game currencies properly, which can lead to various issues for both themselves and players alike.
First and foremost, you should establish the purpose of your in-game currency system. Are you trying to encourage specific activities or generate interest for an upcoming event, among other goals?
Second, you must consider if and how easily your in-game currencies can be exchanged for real-world money and how easy it will be for players to exchange them for real cash. If players are allowed to transfer in-game currency for real cash transfers, ensure you can verify and track those transfers so as to maintain player trust and abide by regulatory compliance standards.
If your game lacks the capabilities to monitor these transactions, you may experience issues when players sell in-game currency at prices lower than its actual worth, which devalues currency while diminishing player experiences – something that could potentially become detrimental.
Thirdly, you must consider the risk of fraud and theft when selling virtual currency on the gray market. Be certain that the company selling you virtual currency is legitimate and that there are no hidden fees associated with purchasing in-game currency.
Fourthly, you should be mindful that some in-game currencies can be utilized for money laundering schemes. Players may use real-world money to purchase the virtual currency that they then use to purchase in-game items – an illegal scheme that may lead to large sums of fraudulent in-game currency being acquired by bad actors.
Accepting in-game currencies from users and supporters can present many risks that must be managed properly to remain sustainable and ensure you can reduce them successfully. Common concerns include money laundering, inflation, and hacking/cheating attempts; by developing a scalable, secure, fair currency system, you can avoid these issues and ensure user happiness and engagement.
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There are various ways that virtual currency can benefit you and your customers. One popular tactic is providing them with digital gift cards, which they can redeem online or in-game, making your customers happier while helping to increase revenues. Best of all, designing and creating the ideal gift card for your game can be loads of fun! There are so many amazing card designs out there, so finding something suitable should not be an issue. Once you’ve selected the ideal prize, don’t forget to show it off by posting photos and videos of it online – customers will treasure these memories long into the future! Add an interactive gift card that tells customers exactly how to redeem it in the game if needed!
Though most card games accept cash as payment, some users and supporters might prefer sending extra crypto to their favorite team in order to boost its in-game stats or thank loyal customers who continue coming back for more. This method can also serve as an excellent incentive to ensure future loyalty from clients who keep coming back for more!
Coinbase, a crypto exchange and wallet service provider, recently unveiled an innovative new service allowing direct deposits of paychecks into Coinbase accounts in cryptocurrency form. Set to launch across the US over the coming weeks, users eligible for this new offering can choose the percentage that will be automatically transferred into their chosen asset from their paycheck deposit amount.
Coinbase users who qualify can take advantage of this service free-of-charge, beginning this week in both North America. According to their statement, they will use an FDIC-insured bank partner for delivery of this service.
Direct deposits provide gamers with an efficient means of depositing funds directly into their Coinbase accounts and automatically into their chosen asset, saving time and stress associated with manually moving money around between accounts. The company describes them as an asset for gaming as they make the process less cumbersome and time-consuming.
To take advantage of this feature, download and sign in to the Coinbase app, choose Direct Deposit from its menu, scan a QR code provided, and use that information as the starting point; you will then see all supported currencies listed with relevant details like conversion rate information.
Before beginning to transfer coins to Coinbase, it may also be necessary for you to verify your identity. In order to do this, Coinbase requests the following information from you: your name, address, telephone number, email address, date of birth, and taxpayer identification number – which it uses in order to authenticate you and update your account accordingly.
Coinify, a Danish-based blockchain payment services provider, allows merchants to accept cryptocurrency both online and in physical stores. Furthermore, Coinify’s tools help businesses convert crypto to traditional currencies for settlement in bank accounts.
Coinify offers services tailored toward businesses such as merchants and PSPs, but myCoinify caters specifically to individual traders, enabling users to buy, sell, and hold crypto assets without full-service wallet capabilities.
Its user-friendly interface and straightforward set-up make this platform appealing, but you will require a hardware wallet like Ledger to use it effectively and to submit basic know-your-customer (KYC) information, which could put off some investors.
To start using Coinify’s service, visit its website and click “Sign Up.” Select myCoinify, agree to its terms of service, and press the “Sign Up” button. Fill in your details and await a verification email from Coinify.
Once your identity has been confirmed, the next step should be selecting your residential country and payment method. When complete, an “About You” form will open that requires information such as your Legal Name, Legal Surname, and Residential Address.
Once registered with a financial services provider, you must present photo identification in order to validate your identity and prevent money laundering.
While this security measure may help safeguard crypto trading, it does compromise some anonymity – something which concerns some individuals, particularly newer traders who might still be unfamiliar with how the system works.
But for experienced traders who understand their trading strategies, Coinify can be an invaluable tool for buying and selling crypto without worrying about where it gets stored. Furthermore, this platform lets users buy/sell over 30 fiat currencies (U.S. dollars/euros, Hungarian forints/Kenyan shillings, etc).
The selection of cryptocurrencies at Coinbase isn’t as robust as some top exchanges; most of the top 20 coins are included but if you want to expand to additional ones, another exchange might be better suited.
Be sure to read our other related stories at CardGameNews to learn more about card games.