Levelling up ghosts is important as it is the only way that you will be able to progress in the game as it will increase their tier, or amount of stars they have. To do the actual upgrade you will need to obtain specific items such as PKE Crystals, Coins, Element Shards and Slime Shards. These resources can all be obtained while progressing in the games various modes, it is advised that you don't waste them developing low-rank ghosts, only the ghosts you are going to use.
PKE stands for Psychokinetic energy and these crystals can be obtained by capturing or destabilising ghosts. You can also obtain PKE Crystals by completing Missions for Daily Missions, Weekly Missions, milestone Challenges and Story mode.
Element Shards are primarily earned playing the Daily Haunt mode which are resource dungeons that update on a daily basis.
Sime Shards are required to increase the rank of a ghost and are earned by destabilising ghosts. You can also obtain them from Daily Haunt mode and Gozer’s tower.
Spirit Shards are required to increase the attributes of Skills and are earned by destabilising ghosts.
You will earn coins as a reward for simply playing the game.
Premium in-game currency. Obtained by playing Story mode events or purchased using real money.
The list below shows you the advantage one element has over another.
Fire-type ghosts are strong against Earth, but weak against Water-type ghosts.
Water-type ghosts are strong against fire, but weak against Earth-type ghosts.
Earth-type ghosts are strong against Water, but weak against Fire-type ghosts.
Light-type ghosts and Dark-type ghosts deal equal damage (no bonus).
The list below are the different Ghost Ranks
S-Rank - Legendary Ghosts
A-Rank - Heroic Ghosts
B-Rank - Rare Ghosts
C-Rank - Uncommon
D-Rank - Common
Runes become available when you reach level 20 and they can be used to customise your Ghosts to optimise their effectiveness and to suit your play style. Each ghost has 6 Rune slots that can be filled with the matching Rune. In total there are 8 different Rune types, these are; Attack, Defense, Health, Critical Rate, Speed, Healing, Bonus Damage, and Resistance. Not only will Runes improve the stats of that Ghost they will also give a related set bonus for having 2 or 4 of the same Rune applied to your Ghost. Runes also have ranks, ranging from 1 – 6, the higher the rank, the higher the extra stats and more powerful the rune. The rank of a Rune can be improved with coins.
A Ecto-Sphere is an object that works similar to eggs in Pokemon Go. Once you have collected a Ecto-Sphere you place it in the Ecto-Sphere Conversion Chamber and over a certain amount of time it will develop into a Ghost. The rarer the Ecto-Sphere the longer it will take to convert.
The question I came here to answer is do Legendary-rank ghosts have higher potential? If I have a Heroic-rank ghost with a higher CP than a Legendary-rank ghost of the same name, should I put my faith in the Legendary-rank ghost regardless of the CP difference, or should I put my shards into the lower rank ghost with higher CP?