In this handy guide, we are going to be talking about Decentral Games Governance. (xDG) xDG is the governance token of Decentral Games, a ‘yield-bearing metaverse’ project with a focus on gambling. In this article, we will briefly discuss this Web3 governance token, what it does and how to get it.
What is xDG?
Decentral Games Governance (xDG) is the governance token to the Decentral Games metaverse platform. This gaming platform appears to mainly focus on gambling, primarily that of its decentralized poker game ICE. ICE operates as both game and the in-game currency of the platform, DG acts as the utility token and xDG as the governance token.
Web3 and Metaverse tech is a key focus of many emerging crypto projects. Though the technology is still in its early stages with significant technical, functional, and even ethical challenges ahead, Web3 and the Metaverse are generating significant investment, attention, and hype. With projects such as Decentral Games rushing to capitalize on these new, potentially lucrative opportunities.
On the technical side, xDG operates off the ERC-20 standard and enables stakeholders of xDG to access certain governance privileges such as voting. Released in 2021 by founder and CEO Steve Becerra this project has a market cap of $1,922,821 and an overall coin ranking of #5843 according to Coinmarketcap.
Step 1: Register on Fiat-to-Crypto Exchange
Given that xDG is an altcoin, the only way to acquire it is by exchanging it for another cryptocurrency, such as Bitcoin (BTC) or Ethereum (ETH). For this handy guide, we’ll use ETH for our example.
So, firstly we’re going to have to get our hands on some ETH. To do so, you’ll need to sign up for a Fiat-to-Crypto Exchange. When it comes to picking a crypto exchange, you have a lot of options, and each one will be a bit different, with varying fees and services. However, we’ll utilize CryptoWallet as our example.
CryptoWallet provides a safe, reliable, and easy-to-use app that can be downloaded from the Apple App Store or Google Play Store. Once it’s downloaded to your device, simply follow the onscreen instructions to link one of your current fiat accounts to your CryptoWallet account. After that, you may deposit fiat funds directly from your bank account to your CryptoWallet account. Once the transaction is processed, it will be displayed in your CryptoWallet account.
Step 2: Buy ETH with Fiat Money
For our next step, we are going to swap your fiat for ETH.
To begin, go to the trade tab in your CryptoWallet app, look for Ethereum (ETH) and select the option to trade fiat cash for ETH. Simply choose the quantity you wish to buy and click “Buy.” Thanks to CryptoWallets up to date price charts and market data you will be enabled to make the best decision with your money.
After a brief delay and a short confirmation period, the amount of ETH you purchased, as well as any remaining cash, will appear in your CryptoWallet account.
Step 3: Transfer ETH to an Altcoin Exchange
So now you’ve got some ETH and your next step is to trade it for some xDG, and to do this we are going to have to register on an Altcoin Exchange.
There are many different altcoin exchanges on the market and each one will host different trading pairs, service fees, and registry systems, so it’s wise to shop around for the option that suits you best. The very first thing you should look out for, however, is an exchange that hosts the trading pair that you need, in this case, ETH/xDG.
For our example, we are going to be using QuickSwap, though other exchanges such as Uniswap are also available.
Firstly you’re going to have to complete the QuickSwaps registry process. This process is relatively simple and usually involves providing some information, verifying your identity, some security questions, and some general KYC practice.
After you’ve completed these steps, QuickSwap will notify you that your account is ready to trade, but you’ll need to transfer some ETH from your CryptoWallet account first. To do so, navigate to the ‘funds’ page and choose ‘deposit funds.’ QuickSwap will then supply you with either a wallet address/QR code. Then go to your CryptoWallet account, select your ETH and click ‘send funds’. Now enter the amount you want to transfer and scan/input the QuickSwap address.
You’ll have to wait a few moments for your ETH to appear in your QuickSwap account, but once it’s there, find your way over to the QuickSwaps trading tab. Then look for the trading pair ETH/xDG and select the amount you wish to trade.
You are now the owner of some xDG!
Last Step: Store xDG Securely
But after you’ve gotten some xDG you might be wondering where to store it, and for this, you’re going to need a wallet.
Much like altcoin exchanges, there are many different options to choose from when it comes to a wallet system, so it’s always a good idea to shop around. The first thing you should consider when looking for a wallet system is whether or not it can store the type of crypto you want. When it comes to xDG, TrustWallet and MetaMask are the two most popular options.
Once you’ve selected a wallet, find your way over to QuickSwaps ‘withdraw funds’ option. Here, QuickSwap will provide you with the option to input your wallet’s address, either by manually inputting it or scanning a QR code. Once imputed, simply select the amount you wish to withdraw and select ‘send.’ After a brief confirmation period, your xDG will be safely stored in your wallet.
Another wallet system worth keeping a watch on in the future is the aforementioned CryptoWallet. While it does not presently support xDG, this wallet is secure and simple to use, with plans to add additional cryptocurrencies in the future.
Other Useful Tools for Trading xDG
It is not permitted that this guide provides actual trading or investment tips, however, we are at liberty to provide a brief overview of some trading tools that can help you make better decisions with your money.
Most trading tools provide you with some sort of on-screen information that allows you to follow the asset’s movements, growth, price, volume, or intensity.
On-Balance-Volume (OBV) is a simple indicator that illustrates both positive and negative volume movement as well as the value direction of an asset’s movement trend.
The Average Directional Index (ADI) is a straightforward indicator that tells traders how strong a trend is. The asset’s movement intensity gives you a better idea of how frequently lengthy movements occur.
The Stochastic Oscillator displays the asset price over time and in relation to a certain condition inside that time frame to traders.
Latest News for xDG
In this section, we are going to briefly discuss some of the news associated with the Decentral Games Governance xDG token.
On the 18th of March 2022, Decentral Games announced that it would be releasing a store focused on selling cosmetic merch for one’s avatar. This merch is purchasable via the in-game ICE token and is wearable during poker games.
On the 16th of March 2022, Decentral Games announced an NFT auction with a cyberpunk aesthetic. Holders of DG or xDG can be whitelisted as early minters of these NFTs.
Can I buy xDG with cash?
xDG cannot be purchased directly with fiat cash, instead, follow the guide above to get some xDG.
Are there any quick ways to buy xDG in Europe?
QuickSwap is readily available throughout the EU.
Are there any alternative platforms to buy xDG or Bitcoin with credit cards?
Bitcoin can be purchased with a credit card via services such as eToro. However, xDG cannot, and must be purchased via an altcoin exchange such as explained above.