Cryptotips Andrew Strogoff

What is Trading and Cryptocurrency Trading, Their Main Features

💡 Cryptotips
Crypto trading and its features, the difference between trading and investing, trading tips
 What is Trading and Cryptocurrency Trading, Their Main Features

Trading is an operation where one party buys something from the other party in exchange of money. We do trading in our everyday life when we purchase foodstuff, clothes or even services.

This concept is also used for the financial markets where traders and investors buy and sell several types of assets and derivatives. Market participants purchase stocks i.e. for lower price and wait until their cost rises to sell them. The more the price rises from the purchase level, the more profit you can get.

This is how it works in general. Nowadays almost everybody can open an account with a special company, named broker (or find a cryptocurrency exchange) and start trading. Blockchain innovations allowed users to start speculations on their own (without any intermediate) as traders are able to enter special exchanges and to place orders to gain money on the price difference.

We are going to cover such subjects as history, basics, principles, examples, pros and cons of trading in this introducing article.

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History of trading

History of trading

First exchanges were established in Europe in XVI century. Their main goal was to provide merchants with marketplaces and the governments with the opportunity to place bonds. Trading with stocks and shares developed later as the response to growing commercial needs and companies’ expansion.

Such notion as “trader” appeared first with the establishment of London Stock Exchange in the end of the XVII century.

Meanwhile, stock trading appeared in Asia one century later. Rice exchange in Japan started to operate in XVII century. This period and geographical location are both interesting for traders as Japan is the home country for Munehisa Homma, who developed his famous Japanese candlestick method, allowing speculators to both read the price properly and to forecast future fluctuations.

Currency markets are younger. Forex appeared after the fall of the Bretton Woods system as European countries refused to support gold standard (a system, where currencies were linked directly to gold). Cryptocurrency trading emerged in early 2010s when first exchanges started their activities.

Small retail traders and investors were enabled to start trading in the end of 1980s with the appearance of margin trading. In the early 1980s some British dealing companies began to offer services to those individuals who had lower capitals. In 1986, most central banks accepted this trading mechanism and allowed almost unlimited opportunities for people to speculate and to invest in different types of financial assets.

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What is the difference between trading and investing?

What is the difference between trading and investing?

There is a big difference between those two notions. The main task of investors is to gain profits gradually, by purchasing and holding assets until their price growths. They also buy stock to get dividends.

Trading, on the other hand, involves more frequent buying and selling of assets as speculators aim to generate returns from the price difference.

There is one more thing to pay attention to. Investors have less performance than traders. The first group may be content with 10 percent of annual profit when the second group may have about 10 percent monthly.

Nowadays this line between traders and investors is almost invisible especially within the cryptocurrency industry. Investors there are long-term (or position) traders while traders are speculators holding their positions for hours or days.

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Trading basics– supply and demand

The main idea of trading is to find an underrated asset, buy it and hold until its price rise in order to sell it later. It sounds obvious but here lies the main principle of trading. How do traders and investors know, when to purchase a currency pair or a stock and when to get rid of it?

There is a so-called supply and demand law. It explains the interaction between the supply of an asset and a demand for it. When those two aspects are misbalanced, the price goes upper or lower, depending on what is higher.

The cost of an asset will go upwards when demand grows. It means that more market participants want to buy it. And vice versa, when demand is weakening and supply becomes stronger, the price is likely to fall.

Let us give a simple example. Let’s say, a retailer has 10 apples to sell. There is only one buyer for them, who is ready to purchase apples for $5 per kilo. Will the buyer try to raise their cost? Definitely not as the demand is limited to one customer only.

Let’s make it a bit more difficult. We have 10 apple sellers and only four potential customers. The demand is lower than the supply in this case. Sellers will be forced to reduce prices as they have to literally fight for each customer. Those who hold their price at the initial level, have less chances to sell their apples than those who are ready to lower their costs.

However, in a couple of hours the situation has changed as new customers came to the market and the ratio is currently the following: 20 customers/10 seller. There is lack of apples and retailers can increase the price. Supply is lower than demand in this situation.

Main factors, influencing supply:

  1. Production capacity.
  2. Production costs.
  3. The number of competitors.

Main factors

Factors, affecting demand:

  1. The number of substitutes.
  2. The cost of goods and services.
  3. Advertising.
  4. Price changes for complementary products.

How does supply and demand work on financial markets?

atm

Let’s have a look at the chart. We have drawn an ascending line which demonstrates how the balance between supply and demand changes. In the starting point of this redline, we have higher demand and lower supply.

Then the price goes upwards along the red line and both demand and supply become balanced. At some point, demand becomes lower and supply is higher. When this happens, the price reverses and starts to decline. This is how it works for financial markets.

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Three main trading principles

There are several principles for traders to follow in order to succeed. We are going to mention three main aspects that are necessary for every successful currency and stocks speculators.

Buy lows and sell highs

This principle is based mainly on the cyclic nature of market fluctuations. If you look at any asset’s chart (including cryptocurrencies), you will see that their price has periods of decline and growth. If a currency is cheap currently, it is likely to increase its price in future and vice versa, if a currency is expensive at any moment, the price is likely to decline.

This aspect is very important for every trader as those who know where to buy and to sell are more successful than those, who place orders randomly. Traders who stick to this principle of trading, have higher chances to win.

This may sound obvious, but many beginners buy highs and sell lows as they have no idea how to find entry points properly. Those traders suffer losses and then start to learn something about trading. Those who pay significant attention to theory, have chances to become skilled investors.

Follow the market

This recommendation means a speculator has to always look for tendencies and follow them. If there is an uptrend, a trader is better to purchase an asset. In cases when the price goes downwards, investors are advised to get rid of it.

There is a proverb “Trend is your friend” meaning those who have found a tendency, have better chances to take profits. Trading against the trend is also possible, but these strategies are complicated and require more skills and experience.

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Manage risks properly

Manage risks properly

The main reason for managing risks is the random result of every single trade. There is no a single strategy guarantying trader positive results in every position. Risks accompany investors during their market operations. Moreover, no one is able to reduce risks to zero level. However, traders who manage them properly may minimize them.

What does it mean “to manage risks”? This includes calculations of eventual profits and losses that a trader can take and afford. Many cryptocurrency exchanges offer to their clients several tools to manage their risks by placing stop losses and even take profits.

Let us give you a clear example of the importance of risk management. A trader has bought one bitcoin for $9,000. The price declined to $6,000 and he decides to sell it. Trader’s losses were $3,000. Another trader has bought Bitcoin for $9,000 and placed a stop loss at $8,500. The price declined to $6,000, but this time stop losses triggered when the price reached $8,500. Trader’s losses were $500 only.

This is a simple but clear example of importance of proper risk management. There are several methods how to do it and we are going to demonstrate them in our following articles.

Examples of trading

Here we are going to demonstrate you chart example of trading.

trading

This example is about long position. It means a trader thinks that the price of XRP/USD is at its lows and the situation looks promising for buyers. What is the best decision here? Naturally, to follow the market. It means to purchase XMR/USD somewhere here. Let’s suppose this trader buys the currency pair at 0.5067. He holds his positions until the price reaches the second point and sells XMR/USD when the price reaches 0.7078.

The profit is 0.2011 pips (the smallest price change unit on financial markets). To make it easier to understand, if a trader has bought 100 Ripple coins at 0.5067, he would have an opportunity to earn $200. For each XMR, trader gains 20 cents of profit.

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Looks pretty easy, but this is just an example. When traders look at price history, they always know where to purchase or to get rid of an asset. However, when they start real trading, it is not so easy to forecast future fluctuations. Professionals use different analysis methods to predict quotes. We are going to cover all of them in our following articles.

Pros and Cons of trading

The main advantages of this activity are:

  1. This profession is always in demand. Successful traders may earn money on their own or to become a part of cryptocurrency hedge funds, for example. The amount of those financial institutions increase every year meaning skilled traders have more opportunities to find a well-paid job.
  2. Trading offers an opportunity to start a business for yourself. There are no bosses, no orders, no tasks, no salary (except when you are working for a hedge fund or a bank, i.e.). You take all your profits (paying commission and other costs).
  3. This is an intellectual profession. Everything depends on how trader controls himself, manages risks, reads the market situation. Professional traders see their accounts grow.
  4. Unlimited profits. When a person goes to a part or a full-time job, he has a fixed salary (or percent from company’s earnings, which is usually low). Those who trade, have opportunity to gain more in case they are right. Those who had 100 BTC in 2009-2015, for example, became millionaires as the price reached $20,000 level and then declined towards $8,000-$9,000 in 2017-2018.
  5. Trading gives new knowledge and skills.
  6. No need to go to  the office. Traders can place orders from everywhere if there is Internet connection there. Speculators use PCs, notebooks, mobile devices as a modern trading terminal are cross-platform.
  7. Low entrance requirements. Many brokers as well as cryptocurrency exchanges have no minimum deposit level. This means almost everybody can try trading.

As for the disadvantages, they are the following:

  1. Risks. They accompany every market position. Trader risks to lose a part of his investments or all money he deposits.
  2. High responsibility. Trading is not for lazy people. A speculator always has to be on guard, look for information, learn new tactics and strategies, analysis methods and so on.
  3. Trading is stressful. Speculators have to monitor their mind and physical health. Trading is a stress and you need to learn how to decrease it.

Cryptocurrency trading features

Cryptocurrency trading is similar to other industries like Forex or stocks. Here are some features of this kind of investing:

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  1. There are no brokers or dealers. Crypto traders go to special online exchanges where they can buy and sell coins.
  2. Cryptocurrency trading is available 24/7 as compared to Forex and stocks.
  3. The liquidity is lower. This leads to higher volatility and gaps.
  4. Lower volumes especially for exotic coins. This may result in pump & dump strategies.
  5. There are no tools like economic calendar or companies’ reports meaning the fundamental analysis of cryptos is harder to conduct.
  6. Hard to establish correlation between the coins. Forex and stocks traders always use correlation to predict prices and to hedge their risks. Correlation means different assets move into the same direction. In crypto market it is impossible to find correlations as there is no connection between different coins.
  7. There are no liquidity providers. When you trade on Forex, you deal with the liquidity providers – huge banks and market makers. In cryptocurrency industry, all trades are executed within exchange.

Conclusion

Trading offers many opportunities to investors and speculators. However, this is not just a simple road with no obstacles. In order to afford it, you need to learn, get experience and appropriate skills.

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5 Worst ICO Promotions

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The PR teams behind these coins failed the companies, and by failing, so did the coin and the MVPs, not by a little, but by a lot
5 Worst ICO Promotions

What is worse than being a failure is being a failure with poor marketing and advertising. The following are some of the biggest failures, due to poor marketing practices, for 2018.  

Centra Coin

Floyd Mayweather was a celebrity endorser of Centra Tech, along with DJ Khaled, but the endorsements did little to promote the coin when one of the co-founders, Raymond Trapani was arrested on April 20, 2018 and charged with securities and wire fraud for more than $25 mln associated with the company’s ICO. After that, there has not been much more news. Oh, and they claimed they entered a deal with Visa, which even Visa denies. How low can you go?

Narrative Network

While the assonance is on the “N” the Narrative Network has done very little in creating a story worth reading. It was named the next Steem but failed to deliver on any of the promises it made. To top it off 50 percent of the ICO, $7 mln of the $14 mln raised went to the team and to development, leaving the token severely undervalued. While the name has a ring to it, it is rather dull and does not suggest robust writing but non-descript nonsense.

Bee Token

If you got stung by the bee, you are not alone. What was thought of as the decentralized Airbnb of the cryptoworld, got rave reviews of course, but it was not until right up to the end that the problems emerged. There was a planned scam that diverted funds out of the company and into the hands of the founders? Most likely, but after a strong ICO, the bee sting was suicidal as the token price never got off the ground and ended being another worthless ICO in the ending up in the rubbish bin.

RentBerry

Berrys are small and sweet, but RentBerry is small and sour because from it’s initial value, it has only lost money for its token holders. Crashing down about 900 percent of what it was worth, essentially rotten on the vine. The premise of the rotten RentBerry was to use security deposits as a form of investment. This investment scheme is something more akin to what a slum landlord might try to do with your security deposit when you are not looking and then try to blame you things being broken, which were broken to begin with when you moved in. Not cool in anyone’s book and investing in the security deposits of hard-working tenants isn’t cool either.  

Iungo

While Iungo is very ambitious and surely garnered much attention, there is no roadmap on the site, and the news and company blog is filled more with marketing stories rather than any pertinent information about how the company is doing or what they are doing to achieve their goals. Based on the public financial information, it is safe to say that progress has stalled and the fact that the company does not directly address this issue is another sign that there is a problem. On top of that, the marketing behind the project, Iungo (Is that an “I” or an “L” in the name, oh an “I”? Easy for you to say) This naming convention has caused a lot of confusion and with confusion comes failure. If customers don’t know the name, they won’t buy into the game.

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With almost 5% gained over the last 24 hours, ADA is currently trading at 0.031 against the US dollar, and the 4-hour chart looks prone for an extended climb
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EMURGO, the commercial development division of Cardano, has partnered with Metaps, and they have successfully implemented ADA (Cardano’s digital asset) on the Metaps Plus platform. They will launch the first plastic card based on said token, as well as mobile gift cards.

The cards can be used to pay at over 30,000 offline retail stores across South Korea and will be available in denominations of 100 and 1,0000 ADA; the cards can also be recharged via mobile apps and can be used in QR code format.

Chart Analysis – ADA/USD

ADA/USD chart

With almost 5% gained over the last 24 hours, ADA is currently trading at 0.031 against the US dollar, and the 4-hour chart looks prone for an extended climb. This could be due to recent news of instant payments using crypto cards or simply a technical setup (bullish correction in an overextended downtrend).

The main elements to watch during the days to come are the two trend lines, the support at 0.028 and the resistance at 0.034. Currently the bearish trend line is broken, which is a clear sign of buying pressure, and price action has established a 2-point bullish trend line. As long as the latter remains intact, the first target is 0.034 but if we are going to see a stronger recovery, this target needs to be taken out relatively fast.

Support zone: bullish trend line and 0.028

Resistance zone: 0.034

Most likely scenario: test of resistance

Alternative scenario: return below both trend lines

 

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Estonia sets the example for many European countries with its use of digital solutions for governance. Now, it’s embracing the power of digital currency and Blockchain as well.
WikiCoin CryptoHavens: Cryptocurrencies in Estonia, the Digital Powerhouse

This small post-Soviet country has been consistently ahead of the curve in terms of implementation of digital solutions for governance and citizenship. So, it is perhaps unsurprising that now Estonia is embracing the potential of cryptocurrencies and Blockchain technologies.

Bureaucracy disrupted

The Baltic nation wants to become a truly digital nation, and they are well on their way to being one. As strange as it may sound, Estonia’s growth as a digital powerhouse is a direct result of the cold war.

After the Soviet Union fell, Estonia started rebuilding their country when they bumped into an unexpected problem. Estonia had way too much land and very few people. They quickly realized that it is going to be impossible to govern so few people spread over such large distances.

This is why Estonians started integrating technology into their day-to-day lives since the late 80s and 90s. Instead of focusing on building offices and a governance system at each level, they focused more on creating e-solutions to solve their problems.

That attitude has persisted and it is a big reason why Estonia has become a Blockchain haven and a proponent of, what they call, e-residency. Let’s look at how they have incorporated the Blockchain into various sectors. We will look at two specific use cases.

E-Health

Estonia became the first country in the world to incorporate the Blockchain into their healthcare system. Every Estonian has their health record digitized and stored on a Blockchain. This is especially critical in emergency situations where the doctors can simply use the patient’s ID to get information such as blood type and allergies without losing any time.

KSI

KSI is a highly ambitious Blockchain technology which aims to be deployed in the Estonian government networks. By doing that, all the governmental records will be stored in the Blockchain which will make them completely tamper-proof.

Along with this, Estonia is also planning to develop its government-backed cryptocurrency called “Estcoin” with the help of Ethereum co-founder Vitalik Buterin.

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Blockchain adoption has been spotty at best, driven up into the mainstream through the financial potential of Bitcoin and other cryptocurrencies. However, the fractured nature of the entire ecosystem is seeing different levels of adoption ebbing and flowing.

There are big drives to see the advancement of Blockchain in a number of sectors, as well as a whole other wave of adoption for cryptocurrencies in the financial sector. But it must be admitted that the adoption is somewhat stalled currently.

However, the next wave of adoption seems to be predicated on an unlikely institution, that of higher education and universities across the globe. So often seen as stuffy and rigid in the take on changes and advancements, universities are actually building a good foundation for Blockchain adoption and putting their money where their mouth is.

For those who attend universities, they are building to be the leaders of the future and are primed to change the world — thus, it makes sense that they should be offered a chance to advance in a potential revolution that is Blockchain. There have been many instances of higher learning institutions having offered Blockchain course, but it is more than that now.

Institutions as big as Harvard and MIT are seeing their endowment funds investing in cryptocurrency funds. It is an indication of not only a belief in Blockchain being a part of the future but also that cryptocurrencies have value, as well as future growth.

The importance of providing for the future

There is a real juxtaposition that occurs at universities since they are seen as old and traditional in their makeup; yet, they educate future world leaders and thinkers. These thinkers are also being educated on what will come, not what is now, so there has to be some sort of understanding.

“We are not teaching people how to use today’s Blockchains — tomorrow’s Blockchains will look nothing like today’s,” Associate Professor of Computer Science at Cornell Emin Gün Sirer said.

This was after getting a Ph.D. level Blockchain course that brought in way more students who were more keen to learn than expected.

“Usually when you have five to a dozen students in such a class, you’re teaching a popular class,” Sirer explained.

But when the professor showed up on the first day to teach he was shocked as 88 students were waiting. “It was pretty interesting to see that level of interest,” he added.

Students are hungry to learn this new space, and while they clearly are of an age and space to understand its importance, it is also good to see that those who are providing the education are also accepting that this technology needs to be further explained and taught.

Putting their money where their mouth is

Endowment funds at universities have recently been in the news as they have decided to put trust and faith into cryptocurrencies as a possible way to earn good returns from their investments.

It has been reported that the endowments of Harvard University, Stanford University, Dartmouth College, the Massachusetts Institute of Technology, and the University of North Carolina have recently made investments into at least one cryptocurrency fund.

“Universities have historically followed two investment strategies with their endowment funds: most have followed a very conservative strategy of investing in household names and solid sectors, while a few savvy schools have taken on risky bets in emerging areas, to big gains,” professor Sirer added.

“There’s no greater show of support for an emerging area than what we are seeing here. All else will follow from the people voting with their money,” Sirer said. “I’m excited to see universities beginning to understand the importance of this new area, and hope that they will follow up with greater numbers of courses and interdisciplinary programs on Blockchain technologies.”

A new dawn

The Blockchain and cryptocurrency space is full of passion and excitement but is not founded on too much currently, it has a shaky base. However, the fact that universities are looking to teach and educate on the subject, as well as put money into it, show huge support for this emerging technology.

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Top Gaming Cryptocurrencies: How to Earn Cryptocurrency While Playing Games

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The global game market is expected to hit $128.5 bln as early as in 2020. This mammoth-size industry is only getting bigger, and many are trying to make top-dollar out of it. That creates a ground for a cross-over between the gaming space and cryptocurrencies (a nascent industry that was worth a whopping $800 bln during the market peak in January).

U.Today has defined the best gaming cryptocurrency on the market that is currently making waves in the industry.

image

WAX Coin

WAX is the platform that is supposed to be a decentralized marketplace for gamers. The idea is not new — there is already a fully centralized OPSkins marketplace, but this time the task is to completely decentralize it. This ‘old wine in a new bottle’ approach is supposed to bring more transparency and streamline the transaction process. It seems like the creator of this project tapped into the right market since a whopping 55 percent of millennial gamers already own crypto.    

image

While the project sounds promising, decentralized games are struggling big with adoption (CryptoKitties probably has more developers than players as of now).  

Currently, the token is sitting at 65th place on CMC with a market cap of $62.4 mln (that’s a tremendous downfall since January, when its market cap exceeded $1.3 bln). Nevertheless, it had a rather big spike back in June with even Wall Street titan Mike Novogratz being ‘amazed’ by the intersection of crypto and the gaming industry.

Cryptocurrency

Rank (CMC)

Market capitalization

Price

WAX (WAX)

66

$63.3 mln

$0.067

Enjin Coin

Enjin is a powerful gaming community platform with nearly 20 mln gamers using it. They issued the Edjin Coin in order to make it the universal cryptocurrency in the gaming world. This ERC-20 token is supposed to be the backbone of a huge virtual goods marketplace. Users buy and sell items across thousands of games.

Apart from tackling the issues that are connected to exchanging different gaming items, the network makes transactions much faster. Meanwhile, the Enjin Smart Wallet allows users to store multiple altcoins while providing users with an extra layer of security.

image

The platform is suitable for powering crypto collectible dApps (it’s a beginner-friendly platform, so you don’t have to be a high-profile Solidity developer in order to grasp the gist). Game developers can also make sure of smart contracts.

Unlike WAX, Enjin uses an already existing Blockchain, so the main issue is to convince gamers to use it. However, there is more than enough space in decentralized gaming for both of these projects to survive.    

Cryptocurrency

Rank (CMC)

Market capitalization

Price

Enjin Coin (ENJ)

143

$20.4 mln

$0.026

ION

Does the idea that you can be paid for simply playing video games sound too utopian?

The highly ambitious projects are creating a full-fledged gaming economy that could unite players and game developers of different caliber — from indie groups to billion-dollar giants in the likes of EA.

The ION coin is based on the static PoS algorithm (according to the project’s white paper, they reject Bitcoin’s PoW because of excessive power consumption).    
 

image

As more people get on board, the ION economy (‘Ionomi’) continues to grow. The coin will acquire a lasting transactional value if there is a constant influx of users.

Cryptocurrency

Rank (CMC)

Market capitalization

Price

ION (ION)

387

$5.4 mln

$0.254

Crycash

Crycash is somehow similar to ION — gamers are able to earn crypto by simply having fun and completing numerous challenges. The project looks rather solid, and there is a good reason to believe that Crycash (CRC) may be up to a ten-fold increase.    

Crytek, a big-name German game developer, is the company behind this project. It acquired a high-profile status after the Crisis anthology. It is also worth to mention the Warface integration.

image

The coin that is earned during the game could be used for making different in-game purchases. The developers hope that it could serve as an incentive for players to spend more time on the game.

GameCredit is yet another example of such platforms (it serves a similar purpose of creating a universal cryptocurrency for gaming).   

Cryptocurrency

Rank (CMC)

Market capitalization

Price

CryCash (CRC)

1086

$158,775

$0.034

GTCoin

GTCoin (Game Tester Coin) is a unique coin that creates a bond between game developers and those who consume their product. In order to earn GTCCoin, users (you guessed it) have to test games in order to reveal different bugs.

This is a win-win situation — developers can hone some weak spots in the game, and players are able to get their hands on exclusive content while simultaneously earning coins.

This is shaping app to be a robust platform for uniting people that are involved in the process of game creation.

image

Other alternatives include:

  • FirstBlood rewards, a fairly similar project, rewards players for participating in gaming matches with the 1ST token. The project aims to bring cryptocurrency mainstream adoption closer while simultaneously enhancing transparency in the global gaming market.

  • One also should mention a $40 mln project called Refereum that rewards players with cash prizes for being involved in the game.   

  • MobileGo offers more than simply rewarding content creation with tokens – it is a global platform for conducting decentralized eSports tournaments. As the name suggests, MobileGo extends far beyond PCs, offering a competitive gameplay on a mobile phone.       

Cryptocurrency

Rank (CMC)

Market capitalization

Price

GTCoin

375

$5,7 mln

$0.007

RevolutionVR

RevolutionVR, as its name suggests, is making a revolution in the gaming industry (to be precise, in its small niche — virtual reality).

They strive to accelerate the adoption of video game cryptocurrencies, and they place an emphasis on the development of high-quality VR games.

The current VR games are not really affordable, and RevolutionVR tries to tackle this issue of high prices — that would eventually allow increasing the number of consumers. Players around the globe will be able to enjoy a high-quality gaming experience without the need to own a powerful computer at home. Moreover, it also promises to be more powerful than modern PC solutions.

RVR, the network’s native token, is already listed on numerous exchanges.   

We are not supposed to give you investment advice, but it goes without saying that virtual reality represents the future of the gaming industry, and there is a chance that RevolutionVR could spearhead this progress.

image

Cryptocurrency

Rank (CMC)

Market capitalization

Price

RevolutionVR

447

$3.9 mln

$0.019

Unikoin Gold

Unikoin Gold deserves an appearance on this list simply because many big-name investors are already backing this project, including American millionaire Mark Cuban, who earlier criticized Bitcoin due to its volatility. So, what makes these investors tick?

The eSports industry has a huge potential, and it comes as a no surprise that many are trying to capitalize on that. Unikoin is one of the new betting platforms that allows putting money on a slew of popular games such as Overwatch, Counter-Strike and so on.

image

It circumvented the prohibition on betting in fiat currencies by issuing their own token. During the ICO, it raised an eye-popping $110 mln, making it one of the most successful ICOs.  

Mark Cuban is really picky when it comes to putting his name on the list of investors of a certain project.

HEROcoin (PLAY) is also a platform that has the potential to disrupt online betting. Meanwhile, Ethbet (EBET) stands out among the rest of similar projects by offering the highest returns on the global dicing market.   

Cryptocurrency

Rank (CMC)

Market capitalization

Price

Unikoin Gold (UKG)

428

$4.31 mln

$0.03

Decentraland (MANA)

Decentraland is a popular virtual reality platform whose native token (MAGA) is on the CMC list of top 100 biggest cryptocurrencies. With Decentraland, you are able to create your own virtual reality network. It is supposed to be a Blockchain-based alternative of such hit games like Skyrim and Fallout.     

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Unlike the majority of other projects on this list, Decentraland has been around for a relatively long span of time — the first development milestone was reached back in 2015.

The games that allow its players to live in alternative realities are growing at a rapid pace, and such technologies as 3D and Blockchain are already poised to reshape this sector.

Cryptocurrency

Rank (CMC)

Market capitalization

Price

Decentraland (MANA)

63

$65.7 mln

$0.062

The problem with gaming coins

To sum everything up, we should point out a single problem that relates to all of the aforementioned gaming coins — the pace of adoption. These projects are still in the early stage of their adoption, and they still haven’t managed to reveal their full potential. There is also a place for more global questions — will Blockchain produce a palpable impact on the gaming industry? Will dApps ever see the light after the front-loaded success of CryptoKitties?

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