What Are In-Game Currencies And How Do They Work?

Most gamers have come across in-game currencies at least once. Even those who play casual mobile games will be accustomed to the in-game gold or credits that can be used to refresh daily energy, unlock new levels, or buy in-game cosmetic items. There are both paid and free in-game currencies, and their uses and applications vary from one game to the next.

In-Game Currency

In-game currency can be found in a wide variety of games. Shooters, battle royales, and even sports games from AAA developers incorporate them into their titles. Mobile games, including free-to-play games, offer them to players. Some types of casinos, including those in this list of sweepstakes casinos, use a dual currency system that enables them to offer casino games even in some jurisdictions where online gambling is not yet regulated.

According to betting expert Harriet Spring, sweepstakes casinos use gold coins and sweepstakes coins, with players often receiving free gold coins that are used to play games, while sweepstakes coins can be cashed in for prizes and rewards.

Types Of In-Game Currency

Regardless of where the currencies are used, they operate in the same basic way as real-world currencies. They are used to exchange for in-game or other items, some of which are purely cosmetic, and others that can be used to further the player’s development or progression within the game.

Free In-Game Currencies

Some games offer free in-game currencies. These are typically given as rewards for achieving certain milestones and are used to open new levels or content, or exchanged for in-game items. Examples of this type of currency include gold coins awarded in mobile games for completing levels and which are used to open new levels.

Some games do offer players the opportunity to purchase additional coins to help speed up the process or advance their game further. Some games may offer free currencies for watching videos, completing surveys, or conducting other actions not directly related to gameplay.

Paid Currencies

Paid currencies are bought with real money, either directly through the game platform or via some other portal. These currencies may be used to buy items, pay for progression, or for other purposes. Players can usually click through links in the game to take them to marketplaces or stores where they can buy currencies.

Some games and game makers also offer subscription models, enabling players to sign up and receive an amount of currency every month, in exchange for a regular purchase. Subscriptions and large purchases may result in the provision of additional bonus coins.

Buying Currency

How to buy in-game currencies depends on the platform, the game itself, and other factors. Most games enable players to buy currency directly within the game itself. This is especially true on mobile devices, where games are typically linked to platforms like Google’s Play Store or the Apple App Store.

Payment is taken automatically from the player’s account. Alternatively, it may be possible to use bank or credit cards, using bank transfer, via cryptocurrency payment, or using digital wallets. In some cases, it is also possible to add payments to a mobile phone bill.

Some of the biggest in-game currencies, like Robux and V-Bucks, can be bought via gift cards, which are even available in physical retail stores, further increasing payment options and purchase possibilities.

Uses

In-game currencies can be used for anything from new player avatars to weapon packs or even exclusive downloadable content.

Skins And Aesthetic Items

Skins are virtual items that are used to decorate player avatars or in-game items. They enable players to customize their experience by customizing their appearance, and they are very popular. Skins are popular reward items in games, and they are also commonly associated with in-game currency purchases. Other aesthetic items can include player thumbnails, outfits, and even items like charms for guns.

Paid Levelling

Although not common in all games with their own currencies, in-game levelling is one way in which currencies are sometimes used. Players can buy currency and then use the currency to automatically level up, or take some action that naturally leads to leveling up within the game. Some multiplayer games come in for criticism of being pay-to-win if they enable levelling up via this method, but for single-player and non-competitive multiplayer games, it is a perfectly viable application of in-game currency.

Energy

A lot of casual games, especially mobile games, use an energy-based system. Players are given an amount of energy every day, or per action, and when this runs out, they must wait for their energy to refill before they can continue playing. Some games offer players the opportunity to refresh or increase their energy by spending in-game currency to do so.

Things You Should Know About In-Game Currencies

In-game currencies have their uses, and every one is a little different, but there are some things that buyers should consider and research before investing.

Most Games Can Be Played Without Buying Currencies

Most games, whether premium, free-to-play, or freemium games, can be played, at least to some extent, without the purchase of in-game currency. You can play Roblox without having to buy or use a single Robux, and the same is true of Minecraft and Minecoins. While currency might facilitate quicker development or improve the customization of in-game characters and items, games are typically still fully playable without the currency.

Unspent Currency May Be Lost

When a player quits a game or stops playing, in-game currency will usually be lost. It can’t be sold or refunded, which means players can lose the money they invested in the currency.

In-Game Spending Can Usually Be Tracked

There’s some concern over the spending habits of younger players and their use of in-game currency, especially if games are linked to bank accounts or credit cards. However, games and currency portal websites should offer a means of tracking spending. This is certainly true of the big games, and it is also true of most purchases made through portals like Google and Apple. Not only is this useful for parents, though: it is also beneficial for players who want to ensure they aren’t overspending themselves.

Currency Can Sometimes Be Gifted

Some games enable players to send in-game currency to other players, but this is actually quite rare. The ability to send currency between players opens up games and their currencies to more scamming and also to the unwanted selling of currencies outside the games. However, some of the biggest and most popular games offer gift cards. It is possible to buy Robux and FIFA points cards, and these are just two examples.

Most Currencies Do Not Transfer Between Games

There are some specific exceptions, but in-game currencies cannot usually be transferred from one game to another for the same reasons. The exceptions typically occur between games in the same series. For example, COD points, which are a form of in-game currency used in Call of Duty games, transfer from one game to another. They are not game-dependent but are platform-dependent.

Most Currencies Cannot Be Resold

Some currencies can be earned, as well as purchased. Game developers do not want to allow players the capability to sell their in-game currency to other players, because it takes away from their revenue source and can also make fraud and scams easier to perpetrate.

10 Of The Most Popular In-Game Currencies

Some of the most popular in-game currencies are:

• V-Bucks – Used in Fortnite to buy skins and other cosmetic items.
• Robux – Robux can be used in Roblox to buy cosmetic items, and can also be used to pay for premium servers.
• Mine coins – Minecraft’s Mine coins can be used to pay for aesthetic items for player avatars, as well as texture packs and Minecraft worlds.
• WoW Gold – World of Warcraft was one of the first games to introduce in-game currencies, and WoW Gold is still widely used. It is also the currency that is arguably most prone to scams and fraud.
• FIFA Points – FIFA Ultimate Team has two currencies. FIFA coins are earned as rewards. FIFA points are purchased and used to buy packs and other drafts. Buying from third parties can get players banned.
• Glimmer – Destiny 2’s in-game currency is called Glimmer, and as well as being used to buy cosmetic items, it can also be used to buy ships and even weapon modifications.
• Apex Coins – Apex Legends is a hero shooter, and players can spend Apex Coins to buy cosmetic upgrades for characters.
• DOTA Shards – DOTA 2 offers shards, the in-game currency, via player subscriptions, and they can be used to purchase exclusive rewards from the in-game shop.
• PokeCoin – In Pokémon Go, play is somewhat restricted by the number of Pokeballs a player has. PokeCoins can be used to purchase additional Pokeballs and extend gameplay.
• Riot Points – League of Legends uses Riot Points, which are available via the Riot Store, and can be used to buy materials as well as cosmetic improvements.

Benefits Of In-Game Currencies

In-game currencies are available in a lot of games, and many developers are finding ways to add them to their titles for the benefits they offer to the publisher. They also offer some benefits to players when they are executed well.

Improved Player Experience

Some players love to show off their newly acquired items or their hard-earned cosmetic updates. In-game currencies enable such improvements, while they can also offer exclusive access to certain areas or elements of games. They can improve the player experience and turn a decent game into an incredible one that keeps players coming back for more.

Another Revenue Stream For Developers

One of the ways that in-game currencies can improve user experience is that the money raised from selling in-game currency is often used by game makers to continue the development of the game and its assets. The additional revenue stream can be used to create new levels, expand game features, and more. Such is the potential for profit from in-game currencies that they enable some makers to offer their games as free-to-play titles.

Levelling Up

While some games come under criticism for being pay-to-win, thanks to their extensive use of in-game currencies, they can help players who join later than other players, to enhance their experience and to catch up with early adopters.

Pitfalls

While there are benefits to in-game currencies, there are also pitfalls that players and developers need to legislate for.

Spending Can Still Be Difficult To Track

While most games offer some means of tracking and monitoring spending on in-game currencies, this isn’t true of all titles. And, it is especially difficult to monitor how much has been spent on currencies via gift cards. Because in-game micro-transactions are for individually small amounts, players can lose track of exactly how much they are spending each month. Even a dollar here and a dollar there can soon see the spending rack up.

Games Become Pay-to-Win

While skins and cosmetic items don’t usually impact the outcome of games, some purchasable items can. If players can effectively buy levels, or they can buy items that enhance their gameplay and improve their chances of winning, games can come under fire for being pay-to-win titles, where players have the best chance of winning when they pay. Many gamers dislike pay-to-win titles, with some even claiming it’s the worst trend in the gaming industry.

Some Developers Use Manipulative Tactics

While many in-game currencies are developed, offered, and maintained with players in mind, some are little more than cash grabs. Where this is the case, game developers may also use manipulative tactics to increase the amount of in-game currency players buy.

In-Game Currency Scams

There are many perfectly legitimate in-game currencies and marketplaces that sell them. However, the value of these currencies means some scams do exist.

Websites and fake marketplaces may be created to appear as though they offer genuine currencies, but the player does not receive any currency after making a payment. Players are advised to only purchase currency through the game itself or from the game maker's website. Gift cards can be purchased from reputable sources, but buyers should consider using a credit card to enjoy the protection offered.

Phishing scams, which are some of the most prevalent of all online scams, involve emails or messages that are designed to look like they have come from the game makers, asking users to click a link and log in to their account.

Because the user has likely added their payment details, the scammers can use fraudulently obtained account details to collect personal data. Players should never click links in emails they do not recognize, and instead of clicking links, they should enter the web address or open the gaming app manually.

Fake gift cards enable thieves to steal money from unsuspecting sellers. Players should verify the seller’s credentials and try to ensure the gift card is genuine. At the very least, check the game’s website to see whether gift cards are offered for a particular game.

Gaming Crypto Tokens – The Evolution Of In-Game Currency

Cryptocurrency tokens are being used in some games as in-game currency. Currently, this is most common in crypto games or blockchain games, but companies like Ubisoft and even Sony and Microsoft are exploring the opportunity to launch their own tokens and use these as in-game currency.

Crypto tokens are developed on blockchain and can usually be purchased via third-party marketplaces and services. They could also be transferred from one game or platform to another, and because they hold real-world value, players who invest a lot of time to accumulate cryptocurrency could convert these tokens into real-world cash.

In the future, games may also have all their in-game items, even including player accounts, created and stored on the blockchain, which means these could also be transferred between games or sold on cryptocurrency marketplaces, although we aren’t quite there yet.

Conclusion

In-game currencies have viable and beneficial uses. They are commonly used to buy cosmetic items, but can also be used to open up new areas of games or to enhance the player’s experience in other ways.

They are typically sold directly through games, but may also be bought through gaming platforms, while some of the biggest games offer their in-game currency for sale in gift card form, with the gift cards available from physical stores and retail outlets.

In-game currencies can offer game makers an additional revenue stream, which, in turn, means gamers can enjoy access to constantly improved games with regularly updated content.