After becoming one of the biggest television series in 2021, the hype around Squid Game is reaching unprecedented levels. The show’s popularity has also led to the creation of its cryptocurrency, called squid game tokens (SGT). The SGT token was created to monetize the squid game brand and use cryptocurrency on the gaming platform.
The Squid Game follows the same pattern as the television show, where many gamers enter a tournament-like environment to compete in each round. However, unlike the show, where participants entered into debt, the game allows participants to participate in the game at a fee. The fees(SQUID) allow you to move to the next round and increase your chances of winning.
The demand for the SQUID cryptocurrency is pegged on the hype around the show and the gaming platform. As such, SQUID has become increasingly popular among gamers. The SQUID token has a market cap of $3,345,300, and one SQUID was trading at $0.0069 by November 2022.
Here’s a guide to where and how to buy Squid Game Cryptocurrency
Where To Buy Squid Game Cryptocurrency
SQUID is a relatively new cryptocurrency, but it is currently only available on select exchanges. Some of the major exchanges that you may use include the following:
Binance is one of the most popular exchanges for buying and selling cryptocurrencies. The exchange has over 1447 trading pairs and over 355 coins. This makes it one of the most reliable sites for fiat/crypto and crypto/crypto swaps. In addition, the exchange also offers a variety of payment methods, such as credit/debit cards and bank transfers.
Binance has established itself as one of the few sites allowing for swapping other crypto tokens to SQUID through its native PancakeSwap.
KuCoin is a relatively new cryptocurrency exchange that was founded in 2020. The site has over 600 coins and over 750 trading pairs. It also offers a variety of payment options, such as bank transfers, credit/debit cards, and peer-to-peer payments.
KuCoin charges very little fees when trading cryptocurrencies and has multiple trading options, including margin and futures trading. It also allows for swapping other crypto tokens to SQUID through its native PancakeSwap.
Kraken supports over 206 cryptocurrencies, 624 trading pairs, and seven fiat currencies. It is among the top exchanges in the world. The site offers low fees and various payment options, such as bank transfers and credit/debit cards.
Kraken has a user-friendly interface that makes buying, selling, or trading SQUID tokens easy. It is one of the few sites that allows users to buy SQUID directly with other cryptocurrencies.
Depending on your preferences, you may choose between the three options for purchasing the SQUID token. You can also check other alternatives, such as Gate.io and MXC though most of the other decentralized exchanges supporting SQUID have restricted locations.
It’s also important to note that some major exchanges, such as Coinbase, do not support SQUID yet.
How To Buy Squid Game Cryptocurrency
Currently, users cannot buy squid game cryptocurrency directly using fiat currency. Therefore, the only way you can do it is by first buying a major cryptocurrency such as Bitcoin or Ethereum and then swapping the tokens to SQUID. Here’s a guide on how to buy the squid game cryptocurrency.
Buy Crypto On An Exchange Like Binance
The first step is to get a major cryptocurrency such as BNB, Bitcoin, or Ethereum from an exchange. You can do this by signing up for an account on Binance and adding your payment method. These cryptocurrencies can be bought using different fiat currencies such as USD, EUR, or GBP.
Transfer Your Crypto To A Wallet
The next step is a simple cryptocurrency practice. You can transfer the purchased crypto to a wallet like Metamask or Trust. This gives you control over your finances and provides an extra layer of security.
Connect Your Wallet To Pancake Swap
Pancake swap is a decentralized exchange that allows users to swap their tokens. All you need to do is connect your wallet to the platform by clicking ‘connect.’
Swap Your Crypto For SQUID
Once your wallet is connected, you can swap your crypto for the squid game token. You’ll need to choose how much of the cryptocurrency you want to swap and then proceed with the transaction. It’s important to double-check all details before submitting the transaction, as mistakes are irreversible.
How To Trade Squid Game Cryptocurrency
As SQUID isn’t supported by all exchanges, finding a platform that allows trading can be challenging. Therefore, the best option for trading your tokens is by using PancakeSwap. You have to do some technical analysis to determine the best time to sell or buy your SQUID tokens.
It’s important to remember that trading cryptocurrencies is risky, and you should always research before investing.
Why You Should Buy Squid Game Cryptocurrency
Like many other altcoins, SQUID has shown that it can be a profitable investment.
Here are some of the best reasons why you should consider this coin:
- Good Hype Around It: SQUID has gained much traction in the crypto community, which could lead to increased demand. With the backing of the hype generated by the TV show, the coin may have a promising future.
- It’s Cheap: Compared to other cryptocurrencies, SQUID is relatively cheap, making it an attractive option for cryptocurrency investors who are not looking to invest a large amount of money into crypto.
Risks Of Buying Squid Game Cryptocurrency
One of the major problems affecting the SQUID token is the many cases of reported scams. Therefore, researching and buying your tokens from a legitimate source is essential. Additionally, trading cryptocurrency can be extremely risky as the prices are highly volatile, and there are no guarantees of profits. Therefore, you should invest responsibly and only what you can afford to lose.
For example, Coinbase has a warning message about Squid Game Cryptocurrency on its website, “it appears that this asset can now be traded freely on various exchanges. The project is now ostensibly run by the community after the initial rugging allegations. Please do your due diligence. This project, while inspired by the Netflix show of the same name, is NOT affiliated with the official IP.”
As such, traders should be cautious when buying and selling SQUID tokens, as all exchanges do not support them.
If you’re looking to buy or trade squid game cryptocurrency, it’s essential to research and find a reliable source for purchasing the coins. Additionally, ensure you understand the risks of trading cryptocurrencies and invest responsibly. With the right approach, SQUID may be an attractive investment opportunity for those willing to take the risk. Good luck with your trading.
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