Online Gaming has shown exponential growth in the past few years. The only tumble which this digital sensation faced was the payment gateway. Cryptocurrencies are the heavenly solution for gamers which would enhance the smoothness and stress-free gaming. This virtual currency is already famous among World of Warcraft legends. Use of cryptocurrencies have advantages over normal currency transactions, especially for low-cost transactions and minimum interest rates.
Why would gamers choose digital currencies?
Online gamers are interested in using cryptocurrencies as they are ideal for exchanging virtual objects and also minimum transaction fee is required. More than 50 percent online gamers around the globe have already used digital currencies in the past for different purposes. This shows a remarkable feat with the experience working on and can be an advantage in inter-twining of online gaming and digital currencies. The possibilities are endless and they can even cash out profits or reinvest them in different platforms. This is way more secure than regular transactions.
Gamers believe there are scopes of improvement in the current model of virtual currencies related to online gaming. Also, innovative ideas are suggested which appeals using in-game cryptocurrencies into tradable digital currencies.
The benefits that gamers can get are low transaction fees and almost nothing on low transactions. Also, the processing is simple which makes it easy to use. Cryptocurrency transactions also offer high-security checks and not risking your offline account details. The security is a major issue on online gaming platforms as amateurs may face a dilemma on joining a console and perform transactions. Digital currencies can prove helpful essentially for amateurs.
On streaming gamers who are associated with games, those are a global sensation and are passionate about it make frequent transactions. The sudden surge and rapid growth in usage of shows potentiality in taking over the gaming world.
Should online games be enhanced by cryptocurrencies?
Gamers face a major crisis when they are to purchase any virtual in-game product due to their sky-high price and transaction fees. The transaction speed is slow and intermediaries fail in functioning properly. There are transaction failures at the most vital times. Cryptocurrencies show the solution for gamers to upgrade the online gaming world and release them from the stagnant course of misconduct.
Decentralized blockchain and a secure platform are necessary for virtual transactions. Low-cost digital currencies like Dogecoin or Stellar Lumens often use high-speed transactions which are necessary for gamers. Any immediate or emergency transactions especially when live stream gaming is mandatory.
Creators of game credits foresaw this exponential growth of cryptocurrency and online gaming and their parallelism. They have specifically developed a digital currency, especially for online gaming purpose. Virtual transactions and security are well maintained and high-end service makes it a top contender to replace the in-game purchases in the current gaming world.
Although this seems to be a fairy tale for gamers, there is always a nightmare and that is the fluctuation in the rates of cryptocurrencies. A downtrend will cost massively for passionate gamers. Thus this uncertainty is constant which may haunt gamers. The only solution to this is to transform digital currencies into tokens or develop something more stable.
Additionally, the game developers don’t want gamers to cash out their earning, rather reinvestment is what interests them. If gaming company develops a cryptocurrency of their own and gamers cash out it would down surge net cash flow amount in the game. This will only lead to financial losses for the company. To prevent this, the introduction of cryptocurrency might be not a good deal to the companies.
The biggest challenge faced by cryptocurrency developers is to settle down this argument with the game developers. The only possible way is to keep a stable market and design cryptocurrencies liable for that game only. This may reduce direct cashing out by gamers but would be beneficial for them in transactions too.
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