Gaming Tokens Vs. Traditional In-Game Currencies: What’s The Difference?

The value of gaming tokens is on the rise compared to traditional in-game currencies. There are several differences between gaming tokens and traditional in-game currencies that have gained the attention of global gamers. Online communities are open to accepting new members from various regions of the world to trade gaming tokens on a transparent and secure digital platform.

Unlike traditional in-game currencies, players are rewarded for earning gaming tokens. People who have transferred a large amount of in-game currencies to their friends have been flagged by gaming moderators. In rare cases, gamers involved with trading in-game currencies like V-Bucks from Fortnite and MineCoins from Minecraft are prevented from engaging with online competitors to make esports fair for everyone.

What are in-game currencies?

In-game currencies can be spent within games and apps to purchase items, skins, and accessories. These fictional forms of money have no real value outside of the game. For instance, you can collect V-Bucks by killing players on Fortnite maps using mobile devices. Once you have an adequate amount of V-Bucks, you can unlock cool new skins for weapons and outfits for your character in Fortnite.

You can also buy in-game currencies using real-world money. Buying 1,000 V-Bucks in Fortnite can cost gamers up to $8.99 and 5,000 V-Bucks can be bought for $36.99. Players can obtain a Battle Pass in Fortnite for 1,000 V-Bucks. However, most games do not allow in-game currencies to be transferred to other accounts in order to prevent scams and fraudulent activities.

What are gaming tokens?

Gaming tokens are digital assets that can be used in crypto games. The ecosystem of crypto games has integrated gaming tokens as a key aspect of interacting with the community of gamers. Gaming tokens are created on blockchain networks to make them secure for online transactions. Players can earn non-fungible tokens (NFTs) in crypto games by finishing quests and unlocking achievements.

Crypto games running on a play-to-earn model give people plenty of chances to earn gaming tokens. These digital tokens are accessible on decentralized networks and can be traded between multiple games without losing their value. Apart from play-to-earn crypto games, sports betting websites and online casinos will let players withdraw cryptocurrencies from their accounts and into their e-wallets for a minimal fee.

Online casinos offer a wide range of rewards for gambling with gaming tokens. Gamers can deposit a small amount of gaming tokens into their online casino accounts to unlock welcome bonuses. Slot machines can be played using gaming tokens to double your earnings with each round. Table games like blackjack in online casinos require a lot more skills to win gaming tokens as rewards.

Are gaming tokens better than in-game currencies?

The primary difference between in-game currencies and gaming tokens is their functionality. Gaming tokens can be sent and received by players across gaming titles. In-game currencies are exclusive to certain games.

Roblox, the popular gaming platform for budding game developers, grants tools to create games that can be shared with others. The in-game currency of Roblox is called Robux. Gamers can create, buy, and sell items on Roblox using Robux as the in-game currency. Robux can’t be traded on decentralized networks like gaming tokens, nullifying their value in global financial markets.

Gaming tokens use blockchain technology to encrypt data. Online transactions and payments made in crypto games are protected by blockchain technology to gain the trust of gamers worldwide. People participating in trending crypto games might be invited for airdrops to increase the number of digital assets and gaming tokens in their crypto portfolio. You’ll have full ownership of gaming tokens earned online while in-game currencies are not assets that you can own or control outside of the game. Gaming tokens can be traded with hundreds of crypto pairs on leading crypto exchanges like Binance, Coinbase, and Kraken.

Are there any advantages of earning gaming tokens?

Yes, there are several advantages of earning gaming tokens online.

Increase your crypto assets

Gaming tokens can be acquired in crypto games to increase your crypto holdings. A majority of crypto games grant gaming tokens to players for beating online opponents in tournaments and live events. Crypto games might have a native cryptocurrency, assisting crypto investors to buy and sell a specific type of digital token for profits.

Gives you ownership

You will completely own the gaming tokens that you’ve earned online. Crypto traders and investors can deposit and withdraw funds using gaming tokens through digital wallets. Gaming tokens obtained across crypto games can be used to unlock cosmetic items to personalize your virtual characters, lending them a unique look among gamers.

Are there any disadvantages of earning gaming tokens?

There are a few disadvantages of earning gaming tokens that crypto investors need to consider.

Price movements are unpredictable

Gaming tokens can be traded with fiat currencies in real life for a price. Online activities like the volume of gaming tokens traded per day within gaming ecosystems can have a significant impact on the price of cryptocurrencies. Depending on the unpredictable price movements of gaming tokens, you might have to manage your financial assets to maintain the overall worth of your portfolio.

Crypto games that become less popular among the online community can decrease the price of native cryptocurrencies. The gaming tokens that you’ve accumulated in a particular crypto game might be worth less than half of their original value within a year, requiring crypto investors to trade their digital assets for other tokens.

Cannot liquidate gaming tokens instantly

The liquidity of gaming tokens can play an important role for crypto investors. You won’t be able to trade thousands of crypto pairs in a single day, restraining you from liquidating your crypto assets. Low liquidity conditions may take several months to regain momentum, freezing your payment options with cryptocurrencies during online transactions.

Gaming tokens can be an investment

Millions of people are starting to earn gaming tokens as an investment. Mobile gamers are downloading multiple crypto games on their smartphones to find the best gaming tokens available. In-game currencies cannot be used to purchase products or services in the real world, urging the next generation of gamers to collect gaming tokens for a brighter future.