When you play a game that offers an in-game currency like TapCoins, the process of earning may seem simple, but the next step – turning those coins into actual cryptocurrency – is important to understand.
Three possible outcomes after the game
After the game is over, depending on how you approached managing your game assets, there are three possible scenarios:
- You have not linked a crypto wallet to your account . In this case, all earned coins are lost and cannot be withdrawn.
- You have linked a crypto wallet, but have not yet withdrawn coins . Your progress is safe here, but for now the funds remain in the game.
- You have linked your wallet and successfully withdrawn your coins . Now your coins are in your crypto wallet or already in the exchange wallet, ready for further operations.
Example of converting coins into cryptocurrency
Let’s say you have 900,000,000 TapCoins (the game’s internal currency) in the game. After you finish the game, these coins will be converted into the cryptocurrency laid down by the developers.
Let’s assume that the rate is 1,000,000 TapCoins = 0.005 GameCoin (the game’s cryptocurrency).
So your 900,000,000 TapCoins can be exchanged for 4,500 GameCoin (game cryptocurrency).
Calculation :
900,000,000 TapCoins ÷ 1,000,000 TapCoins × 0.005 GameCoin = 4,500 GameCoin.
Now you have 4,500 GameCoin, and then the wait for listing begins . This is the moment when GameCoin appears on a crypto exchange and becomes available for exchange for other assets, such as Bitcoin (BTC) or Ether (ETH).
Example of exchange for other cryptocurrencies
Let’s assume that after listing the rate is 1 GameCoin = 0.0001 BTC . Now you can exchange your 4,500 GameCoin for 0.45 BTC .
If you decide to exchange for ether (ETH), and the rate is 1 GameCoin = 0.002 ETH , then your 4,500 GameCoin will be equal to 9 ETH .
Important:
The rates given are conditional examples and have no connection with real data. Rates on the stock exchange may vary depending on the market situation, and you need to be prepared for changes.
To sum it up
To successfully monetize your progress in the game, it is important:
- Link a crypto wallet to the game.
- Manage to withdraw coins before all game operations are completed.
- Wait for the cryptocurrency to be listed on an exchange where you can exchange it for real assets.
This process requires understanding the exchange rate and how your game coins can be converted into more popular cryptocurrencies.
* Note: automatic translation.