The Cheapest Way to Convert your Splinterlands Credits
Credits and Splinterlands
If you've ever played Splinterlands, you should know that "credits" are one of the ingame currencies and that, differently from DEC or SPS, they are not tradable outside the game itself.
They can only be buyed inside Splinterlands and they can't be resold or traded for another token.
In fact, "credits" aren't a (crypto) token and they can only be used to buy or rent Splinterlands' cards.
But what if you would like to use these "credits" to buy something different? For example, some SPS (*Splinterlands governance token*) because you are bullish about the future of Splinterlands and its main token?
There's nothing you can do to achieve this goal?
The answer is "yesn't".
Well yes, but actually no
If you want to buy something else than cards, unfortunately you must first buy cards. Sounds weird? Maybe it is, but there's no workaround here: your first step is to buy cards.
Now comes the tricky part: you are not forced to "buy low, sell high".
images made on frinkiac.com
Homer makes it sounds easy, but the reality is trading is not for the fainth of hearth and it's not something for everyone, so we are not looking in making some insane trade or find the best deals on the market.
So, we are simply looking to buy a card and immediately resell it for the same value... but in DEC (hence a token we can trade!).
To choose the right card to buy, we can use the useful tools offered by peakmonster.
By going in the "buy" tab and choosing a card, we can then click on "day, week or month" to see its average price, quantity sold and volume: this will come in handy to find a card that fits our needs.
We are looking for a card that has a lot of volume and a stable price, as we need to be - enough - sure that someone is going to re-buy our card in a few minutes and that the price we are paying for is equal or lower of the price at which that card has been traded lately
Is that all?
The answer is not, because when you buy and sell a card for the same price, you are in fact losing some money: this is due to Splinterlands' markets applying a 5% fee on every sale, which is deducted from your earning.
To mitigate this, we should look at another Splinterlands secondary market, as Splinterlands has a lot of them and all have their merits!
To complete our purchase we should look at monstermarket, which shares instantly with its users 60% of the revenue generated by every purchase they make.
Buying a card through monstermarket will reward us with some DEC, thus greatly reducing the loss we are sustaining by selling a card at the same price we buyed it.
Lastly, we can bring the DEC earned on our Hive account and use a DEX (TribalDex, BeeSwap, LeoDex) to exchange it for something else!
N.B. monstermarket will automatically send your cashback to your Hive account, not to your Splinterlands one.
What are the risks?
It's very important to understand that the prices are volatile and they can change in a small amount of time: even if I completed various purchases with this exact same method, the procedure is not risk-free and you are always at risk of losing your capital.
Always DYOR.
This is not a financial advise.
Are you ready to join Splinterlands? Feel free to reach me for any help!
Article available on:
And shared on:
