Rally

Cryptocurrency, once a niche interest of tech enthusiasts and financial rebels, has evolved into a global phenomenon. While its potential to revolutionize finance and disrupt traditional banking systems is undeniable, the mass adoption of cryptocurrencies still faces significant challenges. During the past two years, crypto has switched from a bubbly, fun market into a scary, fear-filled industry in which very few newbies want to place their investments. The constant regulatory backlashes and exchange closures have played a key role in keeping investors away, with <a href="https://blog.bitfinex.com/wp-content/uploads/2023/09/Bitfinex-Alpha-71.pdf">over $55 billion drained from the crypto markets</a> in August. 
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One promising solution to overcome these hurdles is the integration of gamification into the cryptocurrency ecosystem. Gamification of crypto trading via platforms such as Banksters aims to help investors find their fun back. 
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<h2 style="text-align: center;" id="strong-span-style-font-family-tahoma-arial-helvetica-sans-serif-why-the-crypto-market-is-no-longer-fun-span-strong"> Why The Crypto Market Is No Longer Fun</h2> 
 The question of whether the cryptocurrency industry is serious is always raised by doubters (*and regulators*), who make valid and well-addressed points – the sheer number of scams, wild speculation, and selling monkey pictures and rock images for millions of dollars being some valid points, frankly. On the flip side, proponents would argue that it is indeed a very serious market, but many enter with no experience at all in financial markets and end up losing tons of money. 
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If you are reading this article, you’ve probably come across hundreds of stories about the life-changing money being made in the crypto space. Every day, crypto traders with hidden profile pictures on X (formerly Twitter) come out to brag about turning a $100 bill into thousands or millions of dollars in a matter of months by simply flipping altcoins and making 100x of their investments daily. 
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The tales of “going to the moon” and “buying a Lambo using crypto profits” are seen on social media every day – leaving most investors jumping on any opportunity to turn them into millionaires. Many traders have even resorted to leaving their well-paying jobs or selling their houses to become day traders, and hope for ranging bull to carry them to glory. While some have made it big, many would argue that crypto is the most difficult market to trade in – with <a href="https://tradeciety.com/24-statistics-why-most-traders-lose-money">close to 95% of all traders</a> failing within the first few months. 
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The crypto trading market has proven time and again to be a cutthroat business, where even a small mistake could bankrupt investors or liquidate a huge portion of their investments. As of writing on October 3, 2023, the total 24-hour liquidation on CEXs stands at $73.68 million, <a href="https://www.coinglass.com/LiquidationData">peaking at $1.7 billion on 17th August</a> –the highest daily liquidations in the past four months. 
<img decoding="async" loading="lazy" class="aligncenter size-full wp-image-45115" src="https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/10/Total-liquidations-.jpg" alt="" width="2338" height="658" srcset="https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/10/Total-liquidations-.jpg 2338w, https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/10/Total-liquidations--300x84.jpg 300w, https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/10/Total-liquidations--1024x288.jpg 1024w, https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/10/Total-liquidations--768x216.jpg 768w, https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/10/Total-liquidations--1536x432.jpg 1536w, https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/10/Total-liquidations--2048x576.jpg 2048w" sizes="(max-width: 2338px) 100vw, 2338px"> 
Total liquidations on CEXs from July till date (Source: <a href="https://www.coinglass.com/LiquidationData">Coinglass</a>) 
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<h2 style="text-align: center;" id="strong-span-style-font-family-tahoma-arial-helvetica-sans-serif-manoeuvring-the-treacherous-crypto-trading-learning-curve-span-strong"> Manoeuvring the treacherous crypto trading learning curve</h2> 
 From the wild volatility to the complexity of crypto exchanges (CEXs and DEXs), beginners and experts find it difficult to make money if they have no prior knowledge of the asset traded. This is the most critical blindspot for traders entering crypto – the wild learning curve that usually involves losing money while learning the ins and outs of the market. 
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Learning through experience could be the worst way to manoeuvring the crypto industry. Many end up losing a lot of starting capital while trying to find the next 100x token. Luckily, several platforms are aiming to solve this by giving newbie traders a simpler, less expensive, gamified experience of trading. One such platform, <a href="https://banksters.com/">Banksters</a>, helps change the investors’ perspective from a trader to a gamer, making the learning curve more fun and safer, while promoting opportunities for real learning and earning. 
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The platform provides a much-needed bridge for the gap in crypto trading education, allowing learners to learn the market away from the real market, meaning they will lose less of their capital while gaining invaluable trading experience. Simply, Banksters is a skill-based game that leverages NFTs to gamify the trading experience by allowing players to influence real market prices in a virtual environment. 
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Unlike the real market, where you constantly try to outtrade the invisible market, Banksters turns crypto trading into a speculative game between you and your friends. The game is developed for speculative traders who do not wish to enter the real crypto markets. Simply, the players select whether the price of a token will go up or down, and if they are correct, they earn points. If wrong, they have a set of abilities such as Elon’s tweet, CZ’s remarks, Rally the market, etc. that can change his position on the market to a positive one. 
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The game includes five market makers namely Investor, Shark, Whale, Illuminati, and Reptilian, who have special abilities to improve your trade. Every market maker also mines tokens within the game and distributes them to the pool of trader-gamers, ensuring you still earn as you gain experience in crypto trading. 
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<h2 style="text-align: center;" id="strong-span-style-font-family-tahoma-arial-helvetica-sans-serif-the-power-of-gamification-in-fueling-adoption-span-strong"> The Power of Gamification in Fueling Adoption</h2> 
 As explained above, the crypto industry needs to restore the ‘fun’ basics that made the industry a trillion-dollar industry. While a wave of NFTs took the world by storm in 2021, the crypto winter has killed off the excitement that crypto once had. 
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Gamification could be the answer to this problem. It simply refers to the application of game-design elements and principles in non-gaming contexts to encourage engagement, interaction, and behaviour change. In the context of cryptocurrency, gamification can be a game-changer in several ways, including education and learning (Coinbase Earn), incentivization programs (such as X-to-earn platforms), trading (as Banksters is doing), and NFT gaming. 
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The power of gamification in fueling crypto adoption cannot be underestimated. By making cryptocurrency more accessible, engaging, and rewarding, gamification has the potential to bridge the gap between crypto enthusiasts and the broader public. As more projects explore these gamified approaches, we may witness a significant acceleration in the adoption of cryptocurrencies, ultimately unlocking their full potential in reshaping the world of finance and beyond. 
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Understanding The Power of Gamification in Boosting Crypto Adoption

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