So I decided to take the risk and purchase some cheap token. So I went over to PancakeSwap, after checking through tokens and coins with potentials on CoinMarketcap and made some purchases. I purchase around six different tokens together cost less than US$20 including the network fee. So I chose one called BitUp (BitUp) which is a BEP20 token, not BitUP (BUT) which is an ERC20 token. BitUp described itself as “the first automatic rebasing token that is programmed to keep the chart constantly in an uptrend and also provides BTC rewards to holders”
I bought a total of 2,409,927 of these tokens, about 6 days ago. 2 days later I started seeing tokens rapidly reducing, more than halving daily and at the same time it was dwindling in my account, it was rapidly rising at CoinMarketCap of between 1000% and 30000%. Not only that the tokens were dwindling but the value in US$ was also dwindling. A first my 2,409,927 tokens had a value in my wallet of US$1.80, now my token count stands at about 12 tokens and a valuing US$0.25. To date none of the BTC satoshi promised reaches my wallet. I guess all the tokens will eventually disappear.
Luckily I only spent a small amount on this token, as it is a topic of discussion in a number of forums with many of those experiencing the same as I am lost is in hundred of dollars.