Payments
Understand Checkmate's payment system for online chess. Learn about prize distributions, withdrawal processes, and supported payment methods
Getting paid
How long does it take to receive my prize after winning a tournament?
TL;DR Prize payouts are typically processed the following Thursday after the Fair Play window closes to your registered wallet.
Full Answer After winning a tournament on Checkmate.live, the prize payout process begins once the Fair Play window closes. This window allows the platform to review all games and ensure that fair play was maintained throughout the event. Once this process is complete, payouts are typically processed within 1-3 business days and are sent directly to your registered wallet. For larger payouts, additional processing time may be required. If the prize is provided by a third-party partner, such as a chess federation, the payout timing may vary according to their specific terms and conditions.
Can I withdraw any amount of money from my Checkmate.live account?
There may be minimum withdrawal amounts, and some funds might be subject to specific rules outlined in the tournament requirements or tradie lock rules.
In-Game Currency & Wallets
Why do I need a web3 wallet on Checkmate.live?
TL;DR A web3 wallet is a digital wallet for securely storing, sending, receiving, and managing digital assets on the blockchain and receiving payments.
Full Answer On Checkmate.live, having a web3 wallet allows you to securely store, send, receive, and manage your digital assets, including in-game items like Alpha Avatars. The wallet acts as your unique digital identifier on Chekcmate Live and is necessary for certain platform features, such as participating in Pro tournaments, receiving payouts, and trading collectibles. While a web3 wallet enhances your experience on the platform, it is important to choose a reputable wallet provider and secure your private keys to protect your assets.
What are Crowns?
TL;DR Crowns are the primary in-game currency on Checkmate.live, purchasable with credit cards, ETH, or USDC, and earnable through gameplay.
Full Answer Crowns serve as the main currency within the Checkmate.live ecosystem. They can be purchased using traditional payment methods like credit cards, as well as cryptocurrencies like ETH and USDC. Additionally, Crowns can be earned through gameplay, allowing players to accumulate them as they progress. Crowns are used for various in-game purchases and activities, making them an essential part of the Checkmate.live experience.
What are USDC and USDT?
TL;DR USDC and USDT are stablecoins pegged to the US Dollar.
Full Answer USDC (USD Coin) and USDT (Tether) are stablecoins, which means their value is closely tied to the US Dollar. Whether you’re buying Crowns or participating in other activities, USDC and USDT offer a consistent value that aligns with the US Dollar.
What kind of wallet should I use with Checkmate?
TL;DR Checkmate currently supports MetaMask, Coinbase and WalletConnect-compatible wallets. A non-custodial wallet is recommended for full control over assets. This setup ensures that you are the sole owner of your assets, providing greater security and flexibility.
What chain do you use?
TL;DR Checkmate currently uses Ethereum (ETH) for the Alpha Pass and Alpha Avatars, with a Layer 2 solution planned for future drops.
Checkmate can mint to any EVM chain.
What is Gas?
Gas refers to the transaction fees required to execute operations on blockchain. These fees are paid to miners who process and validate transactions. Gas prices can fluctuate based on network congestion these cost can vary.
Do you have to be knowledgeable about web3 to use Checkmate?
TL;DR No, Checkmate is designed to be accessible to everyone, regardless of Web3 experience.
Full Answer You don’t need to be a web3 expert to enjoy Checkmate.live. The platform is designed to be user-friendly, catering to both web2 and web3 users. While Checkmate leverages web3 technology for enhanced features and security, the platform ensures that all players, regardless of their experience with blockchain, can have a seamless and enjoyable experience.
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