A guide to GTC: buying, selling and trading Game.com’s G coins
Learn where to buy GTC in Singapore, how to sell it and ways to securely store it.
Game.com is a blockchain gaming ecosystem that aims to create a global gaming platform for cryptocurrencies. By creating and integrating game content, the team behind the platform wants to help provide digital currency solutions for a variety of entertainment services.
The hope is for Game’s native token, G Coin (GTC), to become the universal virtual currency of the gaming industry around the world. So, what are GTC tokens used for and how can you buy, sell and store GTC? Let’s take a closer look.
Quick guide to how to buy Game.com (GTC)Before we give you a detailed explanation of how to buy GTC, here’s a quick summary, using the HADAX exchange as an example:
- Buy bitcoin (BTC), Ethereum (ETH) or Tether (USDT).
- Register for an account with an exchange like HADAX.
- Set up 2-factor authentication.
- Click “Balances”.
- Select your desired currency and click “Deposit”.
- Copy the wallet address.
- Deposit BTC, ETH or USDT into your account.
- Click on “Exchange”.
- Search for and select the currency pair you want to trade.
- Enter the amount of GTC you want to buy.
- Review all transaction details.Bibox
- Click “Buy GTC”.
Where to buy GTC
GTC tokens can be purchased from several cryptocurrency exchanges, including:
A step-by-step guide to buying GTC
If you want to buy GTC tokens, you can do so in three simple steps.
Step 1. Register with an exchange that lists GTC
Search and compare exchanges that list GTC in one or more currency pairs. Once you’ve found a platform that meets your needs, you can register for an account by entering your email address and creating a password. Depending on the exchange you choose, you may also need to provide your personal details and proof of ID to satisfy Know Your Customer and anti-money laundering (KYC/AML) requirements.
If your exchange offers 2-factor authentication support, remember to turn this feature on to provide a greater level of security for your funds.
Step 2. Deposit funds into your account
It’s currently not possible to buy GTC with fiat currency, for example Singapore or US dollars. As a result, you’ll need to own or acquire a digital currency listed in a trading pair with GTC – Tether (USDT), bitcoin (BTC) or ether (ETH). If you don’t already own one of these currencies, find out how to get them in our how-to-buy guides for USDT, BTC and ETH.
To deposit coins onto the exchange from a separate wallet, log into your exchange account and copy the relevant wallet address for the coin or token you want to send.
Step 3. Buy GTC
The last stage of the process begins when you log into your account and click through to the “Exchange” or “Markets” section. If your deposit has cleared, you can search for the pair you want to trade, such as GTC/ETH, and then enter the amount of GTC you want to buy and whether you want to place a market or limit order.
Make sure you carefully review the full details of the transaction before completing your purchase.
How to sell GTC
When you want to sell your GTC tokens, the process is fairly similar to that outlined in Step 3. After navigating to the “Exchange” or “Markets” section, search for your chosen currency pair and then enter the details of the amount of GTC you want to sell or the price you want to receive.
It’s also worth remembering that you may not be able to exchange GTC tokens immediately for the currency you want to acquire.
Which wallets can I use to hold GTC?
Storing your GTC tokens on an exchange exposes you to the risk of hacking and theft, so it’s generally not recommended for long-term currency holders, known as HODLers. Instead, it’s well worth considering transferring your tokens into a secure wallet that lets you control your private keys.
As GTC is an ERC20 token on the Ethereum network, you’ll need to find an ERC20-compliant wallet. Examples of suitable options include the Ledger Nano S hardware wallet, MyEtherWallet web interface or the MetaMask browser extension.
How Game.com works
If you want a quick rundown of exactly what Game.com does, look no further than this pinned tweet from its official Twitter feed:
“Game.com is a blockchain gaming ecosystem, powered by $GTC cryptocurrency. We create & host innovative games, crowdfund & incubate indie game devs’ projects, connect global gamers with unified msg system, & enable inter-game trading of ingame assets with $GTC coin!”
The goal is to create a global gaming platform for blockchain-based currencies, and by creating and integrating game content, for GTC to become the currency of choice for gamers around the world. GTC will be used to make in-game and in-app purchases, and players will also be able to liquidate and trade those in-game assets for GTC and then use the GTC in another game.
Creator and CEO Le Xu, who in 2012 was chosen as one of Forbes China’s 30 entrepreneurs under 30 years of age, founded Game.com in October 2015. The Game.com public pre-sale was completed in October 2017, and was followed by an ICO in November of the same year. The project lists notable cryptocurrency organisations the TRON Foundation and QTUM Foundation as investing organisations, and TRON founder Justin Sun is listed as an adviser.
What to consider if buying GTC
Before buying any cryptocurrency, it’s important to understand that these digital coins and tokens are not only volatile but also highly complicated. Before buying any currency, you’ll need to carry out a balanced assessment of the factors that could affect that coin’s value.
If you’re thinking of buying GTC, make sure you consider the following:
- Supply. According to CoinMarketCap, at time of writing (May 2018) the circulating supply of GTC was 602,848,684, out of a total supply of 2 billion.
- Use. Based on the Ethereum ERC20 standard, G Coins are intended to become standard virtual currency for the global games industry.
- Future distribution. Once the market value of GTC reaches 1 ETH = 300 GTC, the Candy G Plan will be automatically activated. This plan will see GTC holders rewarded with a total of 1 billion GTC, with the new coins distributed on a 1:1 ratio.
- Limited availability. GTC is only listed on a small handful of exchanges, which could affect demand for G Coins among crypto buyers. It’s also only accepted (as of May 2018) in two apps – tron.game.com and love.pet. As it currently stands, reaching the goal of becoming the global games industry’s virtual currency appears a long way off.
- Potential market. Data from Newzoo reveals that the global games market is predicted to exceed US$180 billion by 2021, and it’s this global gaming community that Game.com is attempting to tap into.
- Competitors. Game.com isn’t the only crypto project focused on the gaming market. Other projects to keep an eye on include Enjin Coin (ENJ) and GameCredits (GAME).
At the time of writing, the author holds IOTA and XLM.