Play-to-earn games are the future of the metaverse. Allowing users around the world to connect, have fun, and even potentially earn a living all from the comfort of their living room. Paraverse is an exciting example of this type of game, with payouts being made via PRVS the game’s native virtual currency.
Read on to learn more about PRVS and how you can buy and hold it in no time.
What is PRVS?
Paraverse is a play-to-earn online game where users can build and purchase their own virtual tropical islands. The PRVS token is a standard ERC-20 token on the Ethereum (ETH) blockchain and the native currency of this virtual world. As a play-to-earn platform, users are incentivized to participate by earning PRVS tokens for their efforts. Similarly, all purchases in the game are made using PRVS.
Savvy investors may also choose to buy and hold the PRVS token as a speculative bet on the continued growth of the platform driving the demand for and price of the token higher.
If this sounds interesting to you, read on to learn the easiest and best ways for you to buy and store PRVS in this step-by-step guide.
Step 1: Register on Fiat-to-Crypto Exchange
In order to purchase cryptocurrencies, you first need to register on a fiat-to-crypto exchange. These exchanges act as an onramp to the crypto universe where you can trade your fiat money (such as dollars) for crypto. Once you have made this initial trade from fiat-to-crypto it will become much easier to trade between cryptocurrencies and move without permission in the crypto ecosystem.
CryptoWallet is an excellent option as your fiat-to-crypto exchange. It is fully regulated and all funds used are secured by BitGo, a leader in the digital asset security space. In addition to this, it provides a streamlined and convenient registration process on its intuitive app available on both Apple and Android devices. CryptoWallet even provides unique features like a crypto debit card which allows you to spend your crypto like cash anywhere that allows you to pay with a debit card.
After downloading the CryptoWallet app on your device and completing the guided registration process, you are ready to move on to the next step.
Step 2: Buy BTC with Fiat Money
The next step is to use your fiat money to purchase a cryptocurrency of your choice. Many fiat-to-crypto exchanges will focus on large-cap cryptocurrencies so you will likely not be able to purchase PRVS directly on this initial exchange. Instead, we will explain how to trade the cryptocurrency you purchase in this step for PRVS in step 3 below.
CryptoWallet currently supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT). Best of all you can purchase these cryptocurrencies with just a debit or credit card, similar to any other type of online shopping.
We recommend purchasing BTC, to begin with, since it is the most widely accepted cryptocurrency which will make the next step of finding a suitable altcoin exchange to trade for PRVS even easier.
After you’ve made your purchase of BTC you can move on to the next step to learn how you will exchange it for PRVS
Step 3: Transfer BTC to an Altcoin Exchange
PRVS is currently supported by several altcoin exchanges. You should do your own research to find which is offering the best exchange rate for trading into PRVS at the time you are reading this. Just make sure the exchange you choose is reputable and trustworthy.
Once you have selected which altcoin exchange you will use, you will need to sign up for that exchange. Since fiat money is not involved and you will only be trading crypto-to-crypto from here on out, the sign-up process should be noncomplicated, fast, and easy.
After you finish signing up you can send your BTC for the trade by finding your BTC receive address on the new exchange and copying that address to then paste into the ‘Send To’ field on the CryptoWallet app.
It will likely take 15-45 minutes for your BTC to arrive on the altcoin exchange, after which you can search for the BTC/PRVS trading pair and execute your trade.
Congratulations, once the trade has been completed you will be the proud owner of PRVS.
Step 4: Store PRVS Securely
Even though you now own PRVS you still have one more very important step to complete and that is to find a secure place to store your new crypto. Cryptocurrencies like PRVS can rise significantly in value in only a short period of time. This means that what may appear to be a small amount today could be worth much more in the near future. Therefore security is an important consideration even for relatively small amounts of crypto.
There are two primary options for storing cryptocurrencies like PRVS. One is to use a software wallet (a program you run on your phone or computer), and the other is to use a hardware wallet (a small piece of hardware designed to hold your crypto keys offline to provide extra protection).
For small to medium amounts a software wallet is sufficient. However, not all wallets are the same and you must do your own research to ensure that the wallet you select is trustworthy and reputable before you send any cryptocurrency to it.
The best software wallets will offer features similar to CryptoWallet. This includes being regulated and protected by a digital asset security firm (such as BitGo in the case of CryptoWallet). CryptoWallet also provides a host of unique and convenient features including the crypto debit card. However, since CryptoWallet does not currently support smaller niche currencies like PRVS it is not an option here.
If you are storing a large amount of funds, or do not need regular access you may want to consider purchasing a hardware wallet such as a Trezor or Ledger, both of which are excellent options. Hardware wallets require an extra purchase of the physical wallet and are not as convenient for everyday use, however they do tend to be the most secure option for long-term storage.
Other Useful Tools for Trading PRVS
Price-feed tools like CoinGecko.com and CoinMarketCap.com are also very useful for trading cryptocurrencies like PRVS. These tools provide you with a real-time price chart and statistics such as current market cap and trading volume. In addition to this, CoinGecko and CoinMarketCap will provide you with a list of exchanges currently trading PRVS as well as the trading pairs they support.
Can I buy PRVS with cash?
Unfortunately, you cannot buy niche cryptocurrencies like PRVS directly with cash. However, a cash-like way to purchase PRVSis to use your debit or credit card to purchase BTC on CryptoWallet and then trade that BTC for PRVS on an altcoin exchange.
Are there any quick ways to buy PRVS in Europe?
The quickest way for you to buy PRVS in Europe is to use the CryptoWallet app which will allow you to buy Bitcoin (BTC) directly with your debit or credit card. Once you have completed this purchase you can easily swap your BTC for PRVS on an altcoin exchange.
Are there any alternative platforms to buy PRVS or Bitcoin with credit cards?
While the combination of CryptoWallet and an altcoin exchange that supports PRVS is likely the easiest and best option to purchase BTC with a credit card and then swap that BTC for PRVS, other options may exist. You should do your own research as to which option is best for you and what the potential trade-offs are for your chosen platform.