How to Sell Squid Token

Here is the guide on how you can sell squid token but first lets look into the squid game project.

Just a few days ago, a new token was released called squid game.

So the squid game has taken Netflix by storm, and now a supposed squid game token is running wild on the cryptocurrency space.

Squid token has risen more than 86000%.

One of the issues people are having is that they are having a hard time selling.

Please exercise caution while trading, and this token were just listed on the coin market cap two days ago, on the 26th of October.

Even the coin market cap has put up a notice saying we have received multiple reports that the users cannot sell this token in pancake swap.

It’s been growing pretty quickly, so many people are wondering how to get rid of it, sell it, turn it back into cash, and find out how to please keep reading until the end of this blog.

You can check the price at: https://coinmarketcap.com/currencies/squid-game/

Selling Squid Token

I’m going to break down what squid token is, what it is, how to buy and how to sell it, and more importantly, whether you should even buy in the first place.

I’m going to also talk about some of the potential issues that are flaring up with this new token, including why it seems like you can’t sell squid tokens.

So this squid game crypto just went live a few days ago at less than one cent per token, and the supposed idea behind it is to buy it as some entrance fee to a form of real-life squid games. 

Squid Game Whitepaper

According to the white paper, there will be six games which 456 players can take part in. one winner then taking away some prize money.

I’ve read numbers like potentially around 35 million dollars in prize winnings, and to enter the game, you’ve got to own and pay with this squid token. 

To enter the first game, you will need 456 tokens. If you multiply that number with the current price of the token at 15, it will mean that entering the first round of these games will cost less than seven thousand dollars.

The entry fee of 10 is allegedly paid to the token developers. 90 goes into the prize pool. This supposedly makes it more attractive than investing in squid tokens. There are potential prizes of millions, and entry is restricted to squid coins.

The token can be purchased to allow you to either enter the game or to make it available for sale later to others who might want it.

How to Buy Squid Token

First, the big question: How do you buy squid tokens? It isn’t allowed on major exchanges, so the only place to buy it is at a pancake swap in exchange

1. It would be best if you visited https://squidgame.cash/
2. You can find a link on the site to purchase squid, which will take you to a pancake swap
3. Connect an existing wallet and start a pancake swap
4. Trade existing crypto you have for the Squid token

You can’t buy the crypto with money you already have. What’s more, you won’t be able just to come here and purchase it. The first thing you will see is a warning about possible problems with the squid token. This pop-up says that the source of the token is unknown. Next, a disclaimer states that anyone can create a bep20 token on BSC with any name. Also, it is possible to create fake tokens or tokens that claim they represent projects that don’t have any tokens.

Is Squid Token a Scam?

You may not be able to sell an arbitrary token if you buy it. There are many reports about people not being allowed to sell the token. Coin market cap also states that “We have received multiple reports that users cannot sell this token in pancake swap. Please do your due diligence and exercise caution while trading this project while inspired by the Netflix show is unlikely to be affiliated with the official IP so not only are people struggling to sell squid tokens but it’s also being claimed that it’s unlikely to be affiliated with the actual Netflix show”

The Twitter accounts associated with squid tokens have been blocked for suspicious activity. It’s possible a lot is going on and that there won’t be any actual game. This is compounded by people reporting that they can’t sell this token.

Why User is Not Able to Sell Squid Token

But before you start screaming scam, there might be a reason people are having trouble selling. The white paper claims that the token developers have included an anti-dumping mechanism to stop it from being sold and then falling in price dramatically so they can sell.

They say you must have squid marbles to sell the squid token. This means that you will need to burn 200 marbles to sell a hundred squid tokens.

To get marbles, you need to buy tokens from the token exchange or win them in the actual games. Marbles currently trade for between four and six dollars. This means that you would have to spend eight dollars to purchase two marbles.

You’ve lost eight dollars in potential profits from the transaction. Now, there is a huge risk that the price of the token force will go up.

Let’s say that if you buy two marbles at six dollars each, it will cost you twelve dollars to purchase them. You can sell one token for ten bucks. It doesn’t make financial sense.

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