Where To Buy Squid Crypto

Where To Buy Squid Crypto?

Squid Game burst onto the crypto market scene as a play-to-earn platform inspired by the wildly popular Korean Netflix drama of the same name.

The Binance Smart Chain-based token was a viral token in 2021, one of the most popular that year. In just a few days its price shot up several thousand per cent. 

However, as soon as its price had soared it soon plummeted right down to zero.

In fact, Squid Game is now believed to have been a ‘rug pull’ scam, where the developers quit the project and took millions of dollars off people who traded SQUID.

Because of this news, we definitely warn against buying SQUID, but in our article we’ll tell you all about Squid crypto, alternatives to Squid crypto, and if you would still like to buy it, how you can do so.

What Is Squid Game?

Squid Game is a play-to-earn platform on the Binance Smart Chain (BSC), inspired by the hit Korean drama Squid Game on Netflix.

The television series is set in a dystopian society where people with mountains of debts compete in trials inspired by schoolyard games to win a massive cash prize. The losers of these games then meet a horrific end.

But while of course nobody dies in the crypto spin-off the structure and the games are pretty much the same.

The competition begins once 456 players have joined. The contestants then take part in six rounds of games. Just like the series, the first game is ‘Red Light, Green Light’ and the last game is the ‘Squid Game.’

The winners of each game then progress to the next, and the overall winner receives the contents of the rewards pool when the competition is over.

The project’s crypto token is called SQUID and you need it to take part in the competition. Contestants are charged 456 SQUID as an entry fee, and the fee goes up for each subsequent game.

The overall winner will receive all the SQUID paid, with 10% going to the developers.

Many crypto experts believe that Squid Game was a ‘rug pull’ scam, and so we would recommend not investing in the SQUID token. But if you would still like to invest, you can do so in the 5 steps below. 

5 Steps To Buy Squid Game Easily

Set Up An Account On Binance

Once you’ve signed up on Binance you will need to verify your account by uploading a form of photo ID and a proof of your address. 

Buy Some BNB

You’ll then need to buy some BNB in order to trade it for SQUID. Add funds to your account using your preferred payment method and look up BNB. Select the trading pair with your local currency, and click ‘buy.’

Move Your BNB To A Web 3.0 Wallet

Now you need to create a wallet that is compatible with Web 3.0 wallets like MetaMask or Trust Wallet.

This is how you will trade your BNB for Squid. Copy and paste your wallet address into the ‘withdraw’ section of Binance, and then transfer the BNB.

Sync Your Wallet To Pancakeswap

Now you need to head over to Pancakeswap and sync your wallet. Your wallet will give you a couple of prompts to confirm the connection and you will then be able to trade.

Trade BNB For SQUID

To trade BNB for SQUID you just enter the amount you wish to buy and then complete the trade. You should then see SQUID appear immediately in your wallet. 

Steps To Buying Altcoins

While we do strongly recommend staying away from SQUID, there are lots of other altcoins (also known as ‘meme’ coins) that also experience ascending price appreciation like SQUID.

You can buy a lot of these coins using a decentralized exchange (DEX), so let’s take a look at how you do that.

With a decentralized exchange you can purchase Gravitoken. This is a coin that has been specifically designed to always increase in price. Or you can buy Hamster, which is a token that awards BTC holders.  

Register With A Regulated Exchange

Register With A Regulated Exchange
man and woman with bitcoin digital currency vector illustration

Before you find your desired DEX, you will have to sign up with a centralized exchange.

We suggest selecting a platform that is reputable and regulated. To set up an account, you will need to provide your personal details and finalize the KYC process by providing a form of photo ID and proof of address.

Buy BNB Or ETH Tokens

According to what DEX you choose, you will have to purchase BNB or ETH tokens to trade with.

Head to the deposit page on your exchange, choose your preferred payment method, and follow the instructions onscreen to add funds to your account. 

Then go to the trading pair that contains BNB or ETH and your deposited currency, and click ‘Buy.’

Transfer Your BNB To A Web 3.0 Wallet

You will need to have a wallet that is compatible with Web 3.0 to do this stage. You can do this by visiting MetaMask or Trust Wallet and follow their instructions to set up a wallet.

You then paste your wallet address into the exchange’s ‘Withdraw’ section, then transfer your BNB to ETH to your wallet.

Sync Your Wallet To A DEX

To do this, visit PancakeSwap or Uniswap and click ‘Connect Wallet’ before allowing DEX to access your wallet.

You can now browse what tokens are available and see which coin you would like to trade. 

Trade Your ETH Or BNB For Your Desired Token

Input the amount you would like to trade, but leave some behind so you can have enough to pay the transaction fee.

Then click Swap > Confirm Swap, and confirm in your wallet. 

Final Thoughts

SQUID is now widely believed to be a scam, so we would recommend not buying these tokens. We cannot stress this enough, but if you must buy these tokens proceed with caution.

There are also plenty of crypto projects similar to SQUID that have enjoyed similar successful price action.

If you’re interested in volatility we suggest buying Shiba Inu, but if you’re looking for something more stable and established, then we recommend looking into Bitcoin or Ethereum.