Launching the SQUID token was a gamble to make cryptocurrency. The Squid Game online competition concept, set to debut in November 2021, would include the meme token. The game’s creators noted that as players advance through the tournament’s many stages, they would be able to accumulate SQUID Coins. However, in order to sign up for the competition, users would need to possess a specific number of SQUID tokens.
Since last week, investors and cryptocurrency fans have gathered to purchase the coin because to the play-to-win mechanism and hype of the well-known Netflix series. However, it appears that there is no hope left because the project’s developers have abandoned it. Sadly, the SQUID coin will only be regarded in cryptocurrency history as one of several scam ventures. Â
BUYING SQUID COIN:
- Research:
Look for information about Squid Coin, its official website, its use case, team, and community support. Make sure it’s a legitimate project before proceeding.
- Get a Wallet:
If Squid Coin has its own official wallet, download and set it up. Alternatively, you can use a multicurrency wallet that supports Squid Coin.
- Choose an Exchange:
Find a reputable cryptocurrency exchange that lists Squid Coin. Some popular exchanges include Binance, Coinbase, Kraken, and others.
- Register and Verify:
Sign up for an account on the chosen exchange. Complete any necessary identity verification processes.
- Deposit Funds:
Deposit the cryptocurrency you’ll be using to buy Squid Coin. This is often Bitcoin or Ethereum.
Some exchanges also allow you to buy with fiat currency (USD, EUR, etc.), but not all.
- Place an Order:
Navigate to the trading section of the exchange. Choose the trading pair that involves Squid Coin and the cryptocurrency you deposited. Place a market or limit order, specifying the amount of Squid Coin you want to buy.
- Execute the Trade:
Once your order is placed and matched with a seller, the Squid Coins will be credited to your exchange account.
- Withdraw to Your Wallet:
For security reasons, it’s recommended to transfer the purchased Squid Coins from the exchange to your own wallet.
SELLING SQUID COIN:
- Log In:
If you’ve used the same exchange to buy Squid Coin, log in to your account.
- Navigate to Trading:
Go to the trading section and find the Squid Coin trading pair.
- Place a Sell Order:
Choose whether you want to place a market order (selling at the current market price) or a limit order (selling at a specific price). Specify the amount of Squid Coin you want to sell.
- Review and Confirm:
Double-check your order details and confirm the sell order.
- Execute the Trade:
Once a buyer matches your sell order, the transaction will be completed. Your account will be credited with the cryptocurrency you received in exchange for Squid Coin.
- Withdraw Funds:
After selling Squid Coin, you can withdraw the resulting cryptocurrency to your wallet or to another exchange where you can convert it to fiat currency.
Remember that the cryptocurrency market can be highly volatile and risky. Only invest what you can afford to lose, and exercise caution while trading. Always use reputable exchanges and wallets, and be vigilant against potential scams.
