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GameCredits Bittrex Review: The Detailed Guide for Beginners

  • Guest Author
    ⭐ Features

    GameCredits (GAME) is an in-game payment platform that is poised to become a major disruptor in the multibillion-dollar gaming industry


GameCredits Bittrex Review: The Detailed Guide for Beginners
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Contents

GAME (a.k.a. GameCredits) is an innovative cryptocurrency that has been very popular within the international gaming community. Thanks to the recent strategic partnerships with Microsoft and Xsolla, the team behind GAME crypto managed to achieve the incredible leap in promotion of this cryptocurrency.

Why should you exchange GameCredits on Bittrex?

There are so many exchange services out there. Why should you use the services of Bittrex in order to exchange or trade your GAME coins? The main advantage for beginners — Bittrex has never been hacked unlike other large platforms. Since 2017 all user accounts of this U.S. exchange service are solidly protected.

Also, this project implements the multi-level wallets strategy. About 90% of customer funds are stored offline. 2-factor authorization is offered for users (in particular, for withdrawal of their funds from wallets). If it is not activated, the exchange sets certain limits on withdrawals.


Features of Bittrex for GAME users

Bittrex offers a modern trading platform that is always accessible offline. If you type GAME in the search field on the main page, you will instantly see the chart with prices changing in real time. For example, currently (5th December 2018) you may see that the price of 1 GAME in the pair USD/GAME on Bittrex is $0.07.

Below the chart is a window with platform’s apps. The platform is designed for both beginners and experienced traders. You may check the possibility of a thorough technical analysis of any assets using technical indicators is implemented.

By default, an algorithm for calculating volumes is set straight on the chart of GAME/USD and GAME/BTC. The site features 450 currency pairs traded with Bitcoin. There are quite good trading opportunities with both BTC and ETH for GAME owners.

However, Bittrex does not have currency pairs with fiat money. Buying Bitcoin, Ethereum or Tether is possible by bank transfer. In order to use this service, you must pass the account verification. Traders have the opportunity to open different types of orders.

For example, they can buy GAME and other available assets at the market price or choose pending orders for the purchase of a particular cryptocurrency at the desired value. The only drawback - Bittrex does not offer any margin trading.

Deposit and withdrawal of GAME funds of the Bittrex exchange provides wide opportunities for those who want to replenish their account and withdraw money from it with GAME cryptocurrency. Two stages of verification actually mean that the base level is the inclusion of 2FA and filling in the "About me" fields. To withdraw more money (more than 4 BTC), full verification is required.

Currently, there are two types of accounts on Bittrex:

  • Basic. Users provide name, address of residence, indicate the date of birth. This data is verified through open sources (social networks, for example). However, if security officers of the company fail to verify the information, more detailed verification will already be required with the participation of the user;

  • Advanced. To open such accounts, the user must provide scanned copies of identification documents along with a selfie attached;

How to buy and sell GAME on Bittrex?

According to almost any user’s review of GameCredits on Bittrex, the website offers the opportunity to trade market and limit orders. The first allows you to buy a cryptocurrency at the current price at which it is offered on the market.

Let’s suppose, GAME coin is worth $1. A user wants to buy it and is ready to pay that price. In this case, he chooses a market order, enters the volume of the transaction and presses the “Buy” button. If the user already has bitcoins and he wants to sell them, at the same time, the current price on the market fully suits him, this can also be done by placing a market order, only for sale.

Fees for services here are considered average for the global market. Bittrex charges 0.25% commission for all transactions. At the same time, payments from traders can be reduced depending on the time of the user’s trading status.

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Question of the Day: Can Stablecoins Accelerate Cryptocurrency Adoption?

  • Yuri Molchan
    ⭐ Features

    Stablecoins show hardly any volatility compared to Bitcoin and altcoins, many are hoping that they will be able to bridge new crypto economy and regular fiat money


Question of the Day: Can Stablecoins Accelerate Cryptocurrency Adoption?
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Contents

Bitcoin, the father cryptocurrency, emerged in hope that it will remove all intermediaries in electronic commerce that cut off their share of payments. BTC was perceived as a P2P way to replace fiat cash in an electronic format, which would enable one party to pay another without any financial institution or payment platform which would demand its share of a transaction as a reward for its services.

What is wrong with Bitcoin

For quite a while Bitcoin was performing the way the crypto community expected. But the situation changed later – BTC rate became weaker, thus bringing down its financial and economic reliability, when it gets to be used as a regular means of payment.


You cannot have a currency that would cost like a British castle today, a gram of gold – tomorrow and a pack of French fries the day after.

At that point practical fintech minds came up with an idea of creating something which would become a breakthrough in the universe of crypto – a so-called stablecoin.

Will stablecoins solve the volatility problem?

Technically, stablecoins are protected from the volatility roller-coaster that Bitcoin and other cryptos love to ride. They are programmed to keep their prices stable and investors now are largely attracted to this new type of digital assets.

Stablecoin does not show any volatility in its monetary value, since it has a fixed connection to an asset it is pegged to. The major goal of using stablecoins is taking the best from decentralized crypto coins and combining it with a constant value. Thanks to it, stablecoins can be used as a reliable means of trade.

Asset-pegged stablecoins

Asset-backed ones get their value from an asset as can be understood from the name. An asset provides the necessary value to a coin, as well as the necessary legitimacy.

A great example of an asset-pegged stablecoin is Tether (USDT). In spite of a series of scandals at the end of last year, it remains the most popular stablecoin in the crypto market.

Recently, it has partnered with the Tron Foundation to launch a Tron-based stablecoin.

Other examples are TrueUSD (TUSD), USD Coin (USDC), the Gemini Dollar (GUSD), and the Paxos Standard (PAX). They are all pegged to the USD.

Crypto-backed stablecoins

Some digital coins work in a similar way to fiat-backed ones, however, they are pegged to collateral crypto. That means that crypto assets that ensure the value of such stablecoins are stored in a wallet similar to escrow.

A good example of a crypto-pegged token is Maker, which is ranked 16 on CMC.

Algorithmic stablecoins

Even though, stablecoin can be interesting at first thought but the way they are built goes against the principle of decentralization that crypto coins have as a foundation. Thus, many crypto fans and evangelists are positive that stablecoins must be linked towards not a centralized asset but a computer algorithm which takes value from a balance between supply and demand.

Basis is now considered the most promising algorithmic stablecoin of all.

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Can stablecoin ensure smooth future for the crypto industry?

The primary goal of all crypto assets was and remains to come up with virtual asset that would be liquid enough and not vulnerable to market volatility. From this point of view, stablecoins are a dream of all crypto fans and evangelists of a decentralized economy.

Apart from the potential to conduct crypto transactions smoothly, experts believe it can bridge the two worlds – fiat and crypto, bringing them a mutually beneficial coexistence. However, that may take time.

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