We are currently in the midst of both a payment processing and gaming revolution. PayPal really caused a stir when it burst onto the scene years ago, but now there are much cheaper, faster and better-designed payment processors.
At the same time, more games than ever before are free to play. These games are able to be monetized thanks to add-on subscription models and in-game purchases of special equipment, prizes or weapons. Below are the kinds of in-game currencies that are now most often used in online games.
Top in-game currencies
If you know about gaming or live with a child who games, there is a good chance that you will have heard these currency names before. In Fortnite V-Bucks are used, Roblox uses Robux, Minecraft uses the well-named Minecraft Coins, Star Stable uses Star Coins, FIFAuses FUT Coins, Overwatch uses Credits, and DOTA 2 uses Shards.
Players can use what is known as hard currency, or cash, in order to access many of these in-game currencies. Hard currency can be thought of as a universal medium of exchange, as it can be used to purchase content and can also be exchanged for other currencies.
Soft currency, on the other hand, refers to the rather more low-value, general-purpose currency. These soft currencies can essentially be accrued in a game just by playing it or spending enough time on the platform.
New currencies in use
One of the fastest-growing sectors in the gaming industry is that of online gambling and betting via online casinos. The online casino industry is booming, and casinos, including the best NJ online casino sites, are staying in the top ranks of the market through their extensive games libraries, seasonal promotions and competitive welcome bonus offers.
Many of these casinos have international clientele who have their own currency preferences. An increasing number of gamblers also prefer to use specific payment processors in order to heighten the level of privacy and security they can enjoy while using the platform.
Some of the newest and most popular currency options available on some online casinos are crypto currencies. The most popular options are Bitcoin, Ripple, Ethereum and Litecoin. The crypto currency market is clearly extremely volatile, so it can be tricky to time payments correctly, but using crypto currency certainly increases the user’s privacy and security.
In-game currencies and their many uses
In-game currencies are here to stay and they are not just for gaming – parents can also use them as an important teaching tool. There are frequently stories in the media about children racking up massive debts because they want new Fortnite skins or in-game coins and they do not understand the value of money or what it means outside of a gaming context.
However, if parents take the time to sit down with their kids and explain the basics to them, in-game currencies can actually help to teach them about money, budgeting and how to stretch a dollar…or Mine craft Coin.