We are sure that you have already heard of the Squid Game. This Netflix series gave us amazing things in entertainment. We can see reproductions of this series, cosplay, and parodies, with real-life recreations sprouting up worldwide. The most recent item, though, may have the biggest stakes.
As you can assume, this series has reached enormous popularity, and when Squid game tokens appeared on the market, they sold out at the speed of light. These tokens were launched last year, and as you can see, they are still very popular.
Today, we will discuss the Squid Game crypto coin, where to buy it, and how to buy Squid Crypto. Also, if you want to learn more about these tokens, stay with us.
How to Buy Squid Crypto?
Well, the first thing you should be aware of when buying Squid Gamen crypto is that this process is not as easy and straightforward as buying other currencies such as Bitcoin, you can read guides on buying cryptocurrencies at tradecrypto.com.
The important thing to know is that you can’t just sit and buy Squid crypto. This cryptocurrency is a BSC token, which means it’s listed on the Binance Smart Chain. Users who want to buy Squid crypto need to have an account on Binance. So, as you can assume, the first step is to make an account on their website.
Make an account
Then, before you can fund your profile, you’ll have to fill out some private information to start using this account and buy Squid Game Tokens. This process demands uploading your proof of address and one personal document, such as an ID.
Buy BNB or ETH
Now, it’s time to buy some BNB or ETH to be able to exchange it for Squid crypto. To fund your account, go to the deposit page on your platform, pick your desired payment option, and follow the guidance. Then, navigate to the selling pair that includes ETH or BNB and your deposited cryptocurrency, and click “Buy.”
Transfer ETH or BNB to a Web 3.0 wallet.
If you don’t have a wallet, you must make one. This is an important step because, without a wallet, you wouldn’t be able to buy and exchange the Squid Game crypto. Your wallet needs to be compatible with WEB 3.0, so the best option is to go on TrustWallet.
Exchange
Now, when you have created the wallet, go ahead and copy the wallet address. Paste this address in the section of Withdraw. Transfer your cryptocurrencies to a wallet. So, it’s time to get some Squid game tokens.
There is no need to ask yourself where can I buy Squid Crypto anymore. You are just one step away from your goal. This is where you need to exchange your current crypto for Squid crypto. PancakeSwap is the only exchange where you will be able to trade BNB for Squid crypto.
So, if you have already connected your DEX with your wallet, you must find and click on the coins you want to trade. Don’t forget to leave funds to cover transaction fees.
What is the Squid Game Token (SGT)?
Well, now that you know the squid crypto price where to buy it, we can move on to the question of what are the Squid Game Tokens?
The Squid Game coin is a Binance Smart Chain asset worth BEP-20, mainly used as a payment mechanism. We can call this currency play-to-earn tokens because users can pay fees to enter and play games similar to those in the series.
Based on the level of the game, attendance costs between 456 and 15,000 SQUID. So, each game can have an unlimited number of players as long as everyone playing the game has paid the fee. The victors of each round are given NFTs to show their triumph. The creators will receive 10% of the coins, with the remaining 90% belonging to the winnings. The person who wins the game will receive the whole winnings.
The designers claim vast experience, having attended major universities such as the University of Michigan and Rice University. Other developers have already collaborated with Amazon and Netflix. The value of the Squid Game Tokens is now $0.0111. Now when you know where to buy squid crypto, we can move to the question of whether the idea to invest in Squid Game tokens at all is any good.
Is it a good idea to invest in Squid Game Tokens?
Squid Game Token is now a problematic bubble with high risk. Despite massive gains, consumers claimed an impossibility to sell the coin. This type of token has so many red flags; later on, you will see why.
What Happened With Squid Game Coin?
So, it’s important to understand the basics of Squid Game Tokens. Many of us immediately suspect that this type of cryptocurrency would not have a long-term plan and that a breakdown was inevitable.
This currency was designed to capitalize on the success of the same-named South Korean drama series. The initiative was well-received by the public and was a huge success. At one point, the coin was worth $2,86 1. However, the currency later turned out to be a rug pull fraud. When its value sank to zero, the token’s designers had taken full advantage of the show’s excitement.
Since this currency quickly became extremely popular among people, it had over 40,000 users who owned the tokens in a very short period. Even the site looked legit, with all the guidelines you needed.
According to the whitepaper, “SQUID liquidity (shares) will be frozen for a minimum of 3 years on DxSale, avoiding any unexpected and sudden changes to the SQUID liquidity pool.” The unlock date has been set on October 20th, 2024.” The designers even had social media pages where they extensively marketed the Squid Games Crypto.
Even though it appeared legitimate, many people were concerned since there was no clear confirmation from the original producers or Netflix that the ‘Squid Token’ was created in partnership with them. The site, which did not appear unusual for the most part, had small red signals in the form of grammar problems in the text offered on the page.
Also, the important thing about Squid Game tokens was not said. It’s the truth about selling Squid Games Token, as we mentioned before in this article. We have a simple situation of easily buying Squid Game Tokens, but if you want to sell them, It is an unavoidable need that you acquire additional currency known as ‘Marbles.’ In comparison to buying, the selling procedure was significantly more difficult and nearly impossible.
Everything appeared to be fine until one day, the value jumped to $2,861 and fell to $0. The designers had duped everyone by exchanging the cryptocurrency for real-world money, and they had gotten away with one of the biggest frauds in the crypto industry.
Similar fraud
‘The Mandalorian,’ a famous Star Wars franchise program, rose to prominence in the same way as ‘Squid Games’ did and experienced a similar fate. The fraudsters created a cryptocurrency called ‘Mando’ and exploited graphics from the program without the authors’ or Disney+’s consent. They took advantage of the popularity of the show and developed the cryptocurrency during the height of the movie’s success.
Clever techniques like these are frequently used to entice potential customers into believing they are investing in anything related to a program or a movie. The media, whether print or visual, should also avoid promoting such enterprises that have exhibited symptoms of being a hoax. Instead, they should caution individuals to be cautious of projects like this one. Good crypto resources do reviews on different platforms and services, such as pi network review.
When acquiring and trading cryptocurrencies, you should always exercise caution and check that everything you are buying and putting your money in is validated and gives you an active profit. Anonymity may be both a benefit and a liability for everyone involved in the cryptocurrency industry, therefore everyone should be cautious about what they invest in.
As you can see, Squid Game Crypto token is not something you should invest in. Cryptos like this have a tendency to crash because they are based on someone else’s popularity, so you should be aware of scams like this. If you want to invest some amount of money in crypto, be smart and play well. Best possible solution is to invest in stable currencies like Etherum or Bitcoin. In this way, your money and coins will be safe, and you can play along with cryptoworld.
Investing in cryptocurrencies is something that you should research before deciding which crypto you want to invest in. There are numerous sites and online information, so try to stay current with the times and developments in the crypto industry, and that will bring you stability and more money.
