Play-to-earn (P2E) games have become more popular as the crypto world has emerged. You can make money playing free online games, as many of the early internet users had feared.
Playing a blockchain-based game is a great way for you to get your hands on NFTs, as your in-game assets are registered on the blockchain. You will need these items if you want to continue playing the game, but you can probably sell them if you decide you no longer want to.
NFT and blockchain games can be excellent investment vehicles and revenue generators for this very reason. Players can earn money by playing free online games and receive payment in virtual currency under this business model.
What Are Play To Earn Games?
Native tokens support the game economies in these unique games. These in-game currencies are used to buy, sell, trade, and play.
Some games, on the other hand, are free to play, while others are paid for in advance.
When compared to traditionally top-level PlayStation and Xbox titles, the graphics in most of these games look like they are still in the early stages of development. So if you are hoping for a visually appealing cryptocurrency game, you’ll have to wait a few more years.
But if you keep your eye on the bottom line, the rewards can keep you coming back for more.
Steps To Start Earning Crypto For Playing Games
- Create a crypto wallet
- Sign up for free for crypto games
- Advance in rank, level, or stage
- Reach minimum token withdrawal limit
- Withdrawal of accumulated crypto earnings to your wallet
- Convert tokens to Bitcoin or Ethereum
- Withdraw crypto into your local bank account
1. Create A Crypto Wallet
Cryptocurrency wallets are a safe place to keep your winnings from gaming.
A few of the most popular types of cryptocurrency wallets include hosted wallets, non-custodial wallets, as well as hard drive-based storage devices.
Depending on what you plan to do with your cryptocurrency and how much security you need, you may want to use one or the other.
This guide will show you how to create a non-custodial wallet so that you can withdraw your winnings directly from the gaming platform.
How To Set Up A Non-Custodial Wallet
- Download a wallet app
- Create a personal account
- Ensure to write and keep your private key: this is presented in the form of a 12-word phrase. Ensure that it is kept in a safe place. You won’t be able to access your crypto if you misplace or forget this 12-word phrase
- Transfer crypto wallet into your wallet: when buying crypto with a non-custodial wallet, you may not be able to use fiat currencies (such as US dollars or Euros), so you will have to transfer crypto from another location
2. Sign Up Or Download For Free To Earn Crypto Games
The term “play-to-earn” refers to a type of cryptocurrency game in which players can earn virtual currency by simply playing the game.
Completing tasks such as missions and battles are all part of the process. Tokens earned on Defi can be exchanged for cryptocurrencies like Bitcoin, Dogecoin, Ethereum, etc.
You can use the money you earn from playing these games to fund your bitcoin wallet or to make additional purchases in-game.
Use them to buy non-fungible tokens (NFTs). Some of these games also use NFTs as their in-game currency.
The best and highest-paying P2E crypto games are as follows:
- Battle of Guardians
- Plant Vs. Undead
- Defi Kingdoms
- Axie Infinity
3. Advance In Rank, Level, And Stage
This step comes with the play of any P2E game you have downloaded and installed.
Meanwhile, you will have to climb through the hurdles of different stages, have a weapon upgrade, fight little battles, improve beyond ranks, and be victorious in battles against villains to progress in the game.
The amount of tokens you receive for completing each of these tasks is determined by the difficulty of the level, rank, battle, and/or villain.
4. Reach Minimum Withdrawal Limit
For the most part, P2E crypto games have a minimum withdrawal threshold.
Depending on the game, this could be anywhere from 500 to 1500 tokens. Tokens can only be obtained by defeating monsters, capturing new territory, progressing through the game’s levels, and rising through the ranks.
To proceed to the next step in this guide, you must first meet the gaming platform’s minimum token withdrawal limit.
5. Withdraw Accumulated Earnings
A withdrawal can be made into the crypto wallet you created earlier in this guide once you’ve amassed enough tokens to do so.
This number can range from 500 to 1500 tokens, depending on the platform. Withdrawal policies vary from platform to platform.
A 48-hour withdrawal period is possible under some of these rules. To make a withdrawal, you must wait at least 48 hours.
However, once you withdraw your tokens from these platforms, you will be able to see your money in your wallet.
6. Convert Native Token To Bitcoin Or Ethereum
LetsExchange is a good option if you’re looking for an easy way to convert your game tokens to Ethereum.
You don’t need a user account to exchange crypto here. To participate in LetsExchange, you do not need to provide any personal information.
When you use DeFi, the best conversion rates are automatically selected for every swap you make. Transparency, security, and ease of use characterize this transaction.
How To Convert Tokens To Ethereum (ETH)
- Navigate to the exchange widget of the website’s homepage
- Choose your preferred coin to sell and provide the amount
- Choose your preferred cryptocurrency to buy
- By default, the system will find the most profitable token for ETH exchange across major platforms
- Provide your wallet address to exchange funds
- Send the required coins for swap
- Exchange is complete when the deposit is sent
7. Transfer Money To Your Local Bank From Your Wallet
There are two options for withdrawing money: selling off your cryptocurrency for cash or transferring it to your bank account.
Using blockchain technology in the decentralized gaming sector has become one of the most popular applications.
To put it simply, crypto games offer new and exciting ways to earn token rewards.
So, you can earn in-game currency by completing quests and other challenges as well as battling other players and winning battles. In the end, the P2E game you choose will determine your earnings.