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iKnights Online uses a simple point system that started with iMob Online and Vampires Online. This simple point system, using a title of Magic Points, is much more basic than in other text-based iPhone RPGs as it offers limited options. You still have to pay for Magic Points in most cases so your decisions on how to use them are especially sensitive in iKnights Online.
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Free Magic Points
What you have to note is that the developers of iKnights Online, known mysteriously as The Godfather, releases free Magic Points on a consistent basis. As of this writing, there are two sets of free Magic Points packages on the top twenty free Role Playing game downloads at the App Store. This is consistently done to maintain iKnights Online playership, as well as persuade players to download updates. This is the best way to get iKnights Magic Points.
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Using Magic Points
There are only three main options for spending Magic Points in iKnights Online. Since iKnights Online has the Friend Codes system so there should never be Magic Points spent on more friends. Friend codes are too easy to acquire and it is very simple to post your Friend Code in public, online locations. The main focus should be on using Magic Points for money as a way of getting finances without acquiring experience points. The energy refill should come second, but only very late in iKnights Online once your missions yield high financial returns. You should also be waiting until you are ready to level up otherwise you will be prematurely gaining experience. If you are going to do this then try to wait until you have a large stash of Magic Points so you could do high-level missions several times over in a series.
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Unfortunately, these are pretty much the only options you have. Resetting your account is free and not in the Wizard section of iKnights Online. Save your Magic Points up as long as you can unless you need money to start a major real estate purchase. If you are going to do this, you should use it as a way of offsetting any major mission work.