In order to buy AppCoins you will also need Ethereum. Here is everything you need to know about the cryptocurrency.
What is Ethereum?
Ethereum is a technology that allows you to send cryptocurrency to anyone for a small fee. It works as a kind of universal currency that can be used to trade other digital currencies, and it’s utilized in an immense amount of financial services, games and apps.
What does Ethereum have to do with AppCoins?
Ethereum allows you to trade for several different digital coins, including AppCoins. Once you have your AppCoins, you will also need ETH to make purchases within the AppCoins universe (also known as “gas money” mentioned below).
What is gas money? How much Ethereum do I need to do a transaction?
Gas money is the fee necessary to make a transaction. The amount of Ethereum you will need will depend on the amount you want to trade. If you wish to calculate there are multiple websites that can help you calculate the amount of ETH you will need for an AppCoins transaction. Here is one: https://ethgasstation.info/calculatorTxV.php
You can calculate the cost of a transaction fee at any time by multiplying the current gas price by the current gas limit (i.e., gas price x gas limit = transaction cost).
How to process a transaction?
a. When making a transfer, first and foremost, your transaction will be added to a waiting list for it to be processed.
b. For the process to begin, the transaction needs to be selected from the list. The transactions are selected based on the gas price you’ve chosen, which means the higher the price you select, the higher the probability your transaction will be picked first.
c. Once your transaction is chosen, the process will start and continue to run until the necessary gas limit is achieved.
NOTE: The gas limit you have chosen can be reached if the transaction takes too long to be processed, and if this happens, you will not get your gas money back.
Here is how you can make a transaction involving Ethereum in the AppCoins Wallet:
More about gas and fees: https://ethereum.org/en/developers/docs/gas/
Check current gas price: https://ethgasstation.info/
Note that for the time being, on-chain transactions with APPC + Eth are not available.
Have more questions? Read this complete guide through Ethereum: https://appcoins.medium.com/101-ethereum-to-appcoins-64a2d41c3024
Or hit us a message!
Happy gaming!