Locking In Play to Earn Winnings: What is a Stablecoin

Play to earn produces multiple forms of rewards, including reward tokens, NFT drops, proceeds from in-game item sales or other forms of income. One of the problems with cryptocurrency earnings is that they can be extremely volatile. 

To remedy this, there is a class of tokens intuitively priced at exactly $1. Those tokens can run on multiple networks and their value does not swing on a day by day basis. It is possible to lock in play to earn proceeds by making an in-wallet swap of some assets for stablecoins. 

Are Stablecoins Safe

Cryptocurrency remains unregulated, and the various stablecoins can have different levels of risk. Tether (USDT) is one of the most widely distributed stablecoins, available on nine different networks and on most suitable play to earn wallets. 

USDT cannot be directly redeemed for dollars, but it can preserve value, can be exchanged back to ETH or other assets, and used directly to buy NFTs and play to earn items. 

What are the Most Accessible Stablecoins for Play to Earn

USDT is the most widely available and traded stablecoin, which is paired with almost all tokens listed on exchanges. This coin can be transferred to any market operator, including some NFT marketplaces. 

The other widely used stablecoin is USDC, which has stricter requirements on token creation and account tracking. USDC runs on Ethereum and may sometimes incur unexpectedly high fees. 

The third most accessible and important stablecoin is Binance USD (BUSD), which is immediately suitable to run on Binance Smart Chain wallets. Using BUSD with Trust Wallet or Binance Wallet may give immediate access to new game sales, Initial Game Offerings (IGOs) or for curated mystery boxes.

Stablecoins may still require some amount of ETH to move across the network or to swap or exchange.

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