Squid Game, a Netflix original series, was launched in September 2020. The programme is a Korean survival drama about individuals who are deeply in debt competing in children’s activities for cash prizes. The comedy soon gained traction and is now one of Netflix’s most successful series. Over 142 million homes tuned in to see it. Netflix’s stock soared as a result of its enormous popularity. It was also the catalyst for the creation of Squid Game Token. SQUID is seeking to capitalize on the series’ popularity by raising the price. It also hopes to develop an online game similar to the one seen in the episode.
What is SQUID (Squid Game Token)?
The Squid Game token is a BEP-20 Binance Smart Chain token that is primarily used as a payment method. Users can pay the creators an entrance fee to compete in games, comparable to a television programme. Depending on the stage of the game, admission fees range from 456 SQUID to 15,000 SQUID. While the game has yet to be launched, a beta version will be available shortly.
Each game can have an infinite number of players, but they must pay the admission price. Each round’s winners are handed NFTs to prove their victory. The developers will get 10% of the tokens, with the remaining 90% going toward the prize pool. The whole prize fund will be awarded to the game’s winner.
The creators claim to have extensive experience, having studied at prestigious institutions such as the University of Michigan and Rice University. Other developers have worked with Amazon and Netflix before.
Is it a good idea to invest in Squid Game Token (SQUID)?
Squid Game Token is now a primarily speculative investment with a high level of risk. Despite the fact that its value has skyrocketed, users have stated that they are unable to sell the token. They have also yet to release their game, which is the token’s primary function. If it wasn’t bad enough, the team’s developers appear to be phoney. Because the token has so many warning flags, it’s far preferable to invest in established cryptocurrencies with genuine value, such as Ethereum and Bitcoin.
How to buy SQUID game token?
Step-1 To begin, create a Binance account.
After learning the fundamentals of SQUID, you may be willing to take a chance and invest in the coin. You’ll need a Binance account to buy SQUID because it’s a BSC token. To sign up for a Binance account, go to their website and enter your email and password. After that, you’ll need to fill out some personal information before you can fund your account.
You may buy Binance Token (BNB) with fiat cash after your account is funded. However, if you don’t have a wallet, you won’t be able to exchange your BNB for Squid.
Step-2: Get Metamask or Trust Wallet.
A cryptocurrency wallet is a safe location to keep coins. It protects the drypto by using private keys. MetaMask and Trust Wallet are two of the greatest wallets. You simply need an email address and a password to create a wallet on MetaMask or Trust Wallet. After that, you’ll be given a wallet address. You can transfer your BNB to the Binance Smart Chain wallet once you’ve added it to your wallet. It’s worth noting that BEP-20 wallet addresses start with “0x.”
Step 3: Exchange your BNB tokens for USD.
After you’ve put your BNB in a wallet, you’re ready to buy SQUID. To do so, you’ll need to exchange your BNB for SQUID. Pancakeswap is currently the only exchange that allows you to trade BNB for SQUID.
Step 4: Place your purchase
In the upper right-hand corner of Pancake Swap, you may link your wallet. You may then finance your swapping with MetaMask or Trust Wallet.
Choose a BNB to SQUID pair. The amount of BNB you want to exchange for SQUID can then be entered. Once you’ve completed the deal, the SQUID will be in your wallet. From your wallet, you may check your SQUID balance. Investors have complained about not being able to sell their tokens! It’s probably best to stick to licenced cryptocurrency exchanges like Coinbase and Webull, which vet tokens on their platforms.