Trading beyond currencies: The Game Skins

June 23, 2017

Being a trader is a great profession. It allows a person to make the substantial income from online trading from nearly any place in the world. And the only things that are needed are the laptop (or even a smartphone) and the Internet connection. Well, we are certainly exaggerating here. One has to have the nerves of steel, fast reaction, some great experience in various markets, advanced knowledge, and quite some analytical skills to be successful in the FX and CFDs markets. However, the returns are attractive too.

The Game SkinsPerhaps day traders do not turn millionaires overnight, yet they earn something that is much more valuable – the freedom. Still, while it is very easy for us to imagine trading gold, oil or all sorts of currencies online, there are completely different tradable assets that are gaining quite some popularity, and these assets are purely virtual. No, we are not talking about cryptocurrencies, we talk about in-game items and skins.

Huh, what’s that?

with the speed of light and in the current times, nearly every youngster is playing at least one game. Many of the games are designed in a competitive way, meaning that one does not simply play it for the plot, but the aim is to play better than the other person. However, players love to have some sort of customisation abilities. It makes very little sense to provide players with the items that could bring in some disbalance to the game, hence game developers are only focusing on designing differently looking items. These in-game items are equal in terms of their features, they simply look different. However, some items like this might easily cost over 100,000 USD. Yes, there are people six-digit amounts to simply differentiate the look of their sniping rifle.

Kids already make money

As reported by the , currently an average skin trader makes an average of $170 of pure profit simply by purchasing undervalued in-game items and selling them at a later stage. Also, some gamers can simply sell the items they get dropped for free while playing their favourite games.

While the figures may not look significant to you, today $170 actually equals to nearly 10,000 Russian Rubles, which is certainly above an average income that someone can make while working part-time in Russia. However, this is an average income generated by the amateur traders. Some professionals are making dozen times more than that. Hence, if you are a Forex trader and think about teaching your kids the art of chart analysis, think twice, they may be already trading in-game items.