Do you think Silversqueeze is a thing? Here's how to get involved

in LeoFinance5 months ago

Since this is trending on twitter and everywhere, I was doing some research on how to get involved.

mSLV, is Mirror.finance's crypto answer!

The easy way

You can head over to Uniswap - pay some $100's of GAS and fees just buy mSLV OR

What I did

Here's how I literally saved $100 dollar of fees, via Terra

  1. Head over to Binance
  2. Buy LUNA
  3. Go to https://app.terraswap.io/#Swap
  4. Download the wallet and create one
  5. Send LUNA to your wallet
  6. Exchange LUNA to UST (stablecoin) - make sure too keep ~1 LUNA for tx fees

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7 Head over to https://terra.mirror.finance/trade#buy and buy mSLV with UST

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It's a little bit more difficult, but worth it in the current market situation. This allows you to buy way more silver compared to Uniswap.

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Posted Using LeoFinance Beta

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Update: you can buy UST directly via KuCoin

I'm big in on silver! Good luck this week, hope it works out!

Posted Using LeoFinance Beta

we'll see :D

I suggest not buying SLV

SLV is really a derivative of the Comex Silver market.
Thus, SLV can make any amount of shorts AND any amount of silver.
Plus they have the option, at any time, to settle any contract in dollars for a price they set.

So, this will not go the way of Game Stop.

Further, the price is set on the Comex, so the price of SLV may have no effect on anything.

I suggest buying physical silver from your local coin shop.
If they have any left.

no physical silver left, this is the only way to get involved as of the writing :)

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