Play-to-Earn Gaming: Earn crypto while you play!!

Play-To-Earn Gaming – Converting Crypto to Fiat Currencies

What Is Play-To-Earn Gaming?

Play-to-earn gaming brings an opportunity for the players to generate a steady stream of income through crypto coins. Though the mechanism, theme, format, and goodies in the game usually differ, the rewards typically come from farming or trading a game’s currency or by generating tradeable Non-Fungible Token (NFT) items like Cryptokitties.

Play-to-earn gaming allows players to not depend on the chance to earn money as they did in the past but allows the creation of in-game economies and business models where players can work to attain a stable income. It is no longer a game of chance but has emerged as a reliable business model. And many people have left their typical jobs to take up employment in these economies and businesses. It has been estimated that players can make up to $200 to $1,000 (USD) monthly, just through farming, depending on the market price and playtime. Though obviously, these have a certain level of risk, farming carries less risk than trading and they have started to become more stabilized. Not to mention these cryptocurrencies can be converted to fiat money and thus is not just limited to the games in the market. This form of payment and currency is widely accepted across credible casinos listed across popular websites including wetten.com, which is still a crowd favorite. Thus, if players like to take a little risk to earn more, they can easily become a part of these play-to-earn games.

How to Earn in Play-To-Earn Gaming

Play-to-earn gaming rewards can be won by acquiring items by completing daily quests or battling monsters and players, just like any other virtual reality game.

The other way to earn rewards is by trading in-game NFTs. Where NFT may represent an item, a character in a game, or even collectables. They can either be cosmetic or fulfill a use or purpose in-game depending upon the game. The player can either use these items to move forward in the game or exchange them with others for value.

Players can also earn money by Staking. If NFT games allow users to lock up NFTs or cryptocurrencies in smart contracts they generate rewards in return. These rewards may contain random NFTs of differing rarities and can be sold in the secondary market for a hefty price. Though this might require the player to deposit a large sum of money.

Converting Bitcoin to Fiat Currency

A big portion of playing Play-to Earn Games is to convert bitcoin to fiat currency. There are many ways of exchanging Bitcoin for Fiat Currency:

Currency exchange: where the cryptocurrency can be exchanged directly into the player’s local currency such as rupees, US dollars, or euros. Though this process may take some time and involve percentage processing fees.

Bitcoin Debit Card: These are exactly similar to regular bank debit cards with one difference, the money is debited from the Crypto wallet instead of the bank account. It is the fastest way of

withdrawal though this format of payment is not accepted in every country or every business chain. Online stores that support such payments usually provide a user interface, where crypto payments are accepted and converted to the fiat equivalent.

Peer-to-Peer Exchanges: where players can sell items and characters of rewards to other players in exchange for their fiat currency of equivalent value.

Contrary to popular belief, it is not that difficult to win rewards from Play-to-Earn games and convert them into real money by converting Cryptocurrency to Fiat Currency. And since Crypto does not fall under any legal jurisdiction, none of the methods of exchange can be considered to be illegal. Thus Play-to-earn gaming is just like betting where you invest something in the hopes of gaining something big.