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ccount will be activated and 1 share will be added to it.</p><figure id="3e28"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*pAPUERWD81n92sMt"><figcaption>Photo by <a href="https://unsplash.com/@ishant_mishra54?utm_source=medium&utm_medium=referral">Ishant Mishra</a> on <a href="https://unsplash.com?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><h2 id="c76a">Miracle</h2><p id="8203">As soon as your account is activated, people will start buying and selling your shares within minutes. All this will be done without any sharing or promotion and automatically share trading will start.</p><p id="85be">Here the miracle is that as soon as any user completes all the above steps and activates his account after buying a share for free then its own share will be created. Any Friend Tech user who likes you or following your Twitter account can trade in your shares.</p><p id="1f42">All of the creator’s shares are bought and sold on Friend Tech; for me, this is clearly a trade like we usually do on the crypto platform and stock market. Here on this platform, people may do the trades based on how popular the creator or a person is and how far its value can go.</p><blockquote id="6b50"><p>Here neither any creator nor the user has created his/her share nor there is any backing (Monetary Backing) behind the share. Simply users are doing share trading by looking at your profile.</p></blockquote><figure id="361c"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*eKsiva8Z0GYH1bbO"><figcaption>Photo by <a href="https://unsplash.com/@anniespratt?utm_source=medium&utm_medium=referral">Annie Spratt</a> on <a href="https://unsplash.com?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><h2 id="9c56">How is Friend Tech Making Money From This?</h2><p id="de96">If any creator or user trades in your share, a gas fee will be taken for the amount traded in your share. A portion of the gas fee earned from your share will be transferred into your wallet automatically.</p><p id="dfd8">In the case of share trading, a portion of the fee will be paid to the platform and the rest to the creator or a user. This is how they are going to make money.</p><p id="d5c6">Everyone has the same question and Also I want to ask this question to everyone: Why people are trading in these shares? or I can say that why should anyone would trade in those shares who doesn’t have any monetary value or backing of any kind of assets?</p><p id="71e4"><b><i>To know the answer of this question</i></b><i> </i>I had done some analysis and I made a simple conclusion based on my assumption:</p><ol><li>You would like to put your money on the creator you’re supporting to accomplish something special for the shareholders in the future.</li><li>You wish to exchange shares by determining the ID value or face value of the creator or a user.</li><li>Just want to enjoy this game like a horse racing to see who will win and reach the top position.</li><li>In this people who had purchased a share of a particular creator can talk directly with the creator. But it is still not known whether the creator will reply to your direct message in the chat but here creator can give personal suggestions, guidance, and advice to all of its shareholders. <b>Simply, the shareholder is getting direct access to talk with the creator or a user.</b></li></ol><h2 id="3815">Top User Whose Share Value has Reached 3 ETH</h2><p id="ab4e">Cobie has risen to the top of the list, with 172 people owning shares at a price of over 3 ETH. Now his share value has reached 3 ETH so like an NFT if you want to own a share of Cobie you have to pay 3 ETH. ( Seriously man, I am not going to pay for something which does not have any actual value )</p><p id="c2bb">The share price of everyone’s account is different and the price is different.</p><figure id="cc3b"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*liNSJ91CaoIwwfO0"><figcaption>Photo by <a href="https://unsplash.com/@ciabattespugnose?utm_source=medium&utm_medium=referral">Lucrezia Carnelos</a> on <a href="https://unsplash.com?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><h2 id="60c1">How to Buy</h2><p id="dc5a">By going to the account of your favorite creator and opening the profile, the BUY & SELL box will open.</p><p id="1854">Here the share value of 0.002 ETH keeps increasing as people buy. Let’s assume that a user had bought a share at 1 ETH, then now another user will have to buy the same share at 1.002 ETH by giving 0.002 ETH extra.</p><p id="fe76">My friends, I explained everything about How this platform works, how they make money and how the price of the shares is increasing on the platform, and how the trades are taking place on Friend Tech. Now Let’s talk about the Airdrop, the second main cause of the Friend Tech popularity increment.</p><h2 id="b05e">Airdrop</h2><p id="8f39">You will get only 3 invite codes everyday which you can share it. The more people who join with your invite code, the more points you will get. These points will help you to get future airdrops.</p><figure id="a2b1"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*DvFTBbZaEN0d_07X"><figcaption>Photo by <a href="https://unsplash.com/@markusspiske?utm_source=medium&utm_medium=referral">Markus Spiske</a> on <a href="https://unsplash.com?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><h2 id="10b4">Fund</h2><p id="4f48">There will be a value of ETH in the right-hand corner of the account; click there. When you click, the wallet will open, displaying the share you purchased, its value, and how much Trading fees you have received.</p><p id="acb9">You may deposit and withdraw funds here. If you wish to keep control over your wallet, you may do so by importing the private key into MetaMask and selecting Export Wallet.</p><p id="2109">Wait a minute, can we trade shares without registering on friend tech? Yes, You certainly can.</p><p id="38d2">For this, you must have funds in Metamask or BAS

Options

E. FriendMEX is built to make share trading easy. FriendMEX is an open-source project. You can buy or sell the creator’s shares by coming to FriendMEX.</p><figure id="2d88"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*hA3QZJI9l7pA3Jbt"><figcaption>Photo by <a href="https://unsplash.com/@daniele_franchi?utm_source=medium&utm_medium=referral">Daniele Franchi</a> on <a href="https://unsplash.com?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><h2 id="aa2e">Opportunity or Scam</h2><p id="3690">If the creator has made an account in friend tech for the first time and has more followers and traffic in the post, he can buy his share. In the beginning, you can purchase the share at a low price and sell it at a high price. <b>The more individuals who acquire the popular creator’s shares, the higher the price will progressively rise.</b></p><p id="4b64">The big disadvantage is that if you get a share at a higher price and then suddenly the value of the share falls due to some reasons then you will have to suffer a huge loss. So before taking any kind of decision, especially on this type of platform do your own research and analysis.</p><p id="00b1">This is extremely risky and here anything can happen to the share of the creator, anything can happen to the user’s fund, and there is also a hacking risk as we have seen in my crypto projects. Trading in any type of share whether it is a share of the stock market, crypto market, or any other market; is considered financially risky.</p><p id="558c" type="7">Among all of these types of share friend tech has introduced a new type of share and this kind of shares which do not have any monetary value or backing are the riskiest.</p><h2 id="4980">Purpose</h2><p id="d177">If you want to use friend tech despite knowing how financially risky it is then you may use it only for the purpose of getting more points so you can get a benefit of the future airdrops. The more you use the more points you will get which will make Airdrop farming beneficial.</p><p id="3d9f">In the future, if the creator does some promising things for the shareholders, then some value will remain in those shares, otherwise the price may crash. In the end, before making any kind of financial decision do your own research and analysis because this kind of thing is extremely risky.</p><p id="4b89" type="7">Clap — Share — Comment — Happily ☺</p><h2 id="1913">Thank You for Reading…</h2><h2 id="352d">Disclaimer</h2><p id="92eb">I am not a Financial advisor. I am not affiliated with Friend.tech or any other websites or coins and also this is not financial and Investment advice. This article is meant only for educational purposes. I am just sharing my thoughts and analysis based on my many years of experience.</p><h2 id="8a09">↑ ↓ Brain Boosting …</h2><div id="818a" class="link-block"> <a href="https://readmedium.com/openais-on-the-brink-of-extinction-prepare-to-see-something-new-356aed02f0c7"> <div> <div> <h2>OpenAI on the Brink of Extinction: Prepare to See Something New!</h2> <div><h3>This Tool Has The Potential To Overpower All The AI Chatbots</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*_j6L4YiYFrk2-zWcJEuCyw.png)"></div> </div> </div> </a> </div><div id="cb3e" class="link-block"> <a href="https://readmedium.com/the-big-short-mans-alarming-prediction-of-a-major-market-crash-56d2210e6a92"> <div> <div> <h2>The Big Short Man’s Alarming Prediction of a Major Market Crash</h2> <div><h3>Incredible Double Standard | broken clock | Noise and Fakes</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*aW3RNkwIiHPPBVhpESQgqg.png)"></div> </div> </div> </a> </div><div id="8efb" class="link-block"> <a href="https://readmedium.com/why-all-ai-industries-are-dependent-on-nvidia-68320914bb4b"> <div> <div> <h2>AI Existence Depends On NVIDIA</h2> <div><h3>The Backbone of Every Tech | Beyond GPU | AI Universe</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*Td2eVqwbCBvUiH6KfnvqKw.png)"></div> </div> </div> </a> </div><div id="ab56" class="link-block"> <a href="https://wire.insiderfinance.io/top-10-ai-coins-based-on-telegram-and-discord-bots-6e724d2288c2"> <div> <div> <h2>10 AI Coins Based On Telegram and Discord Bots</h2> <div><h3>New Upcoming Trends in the Crypto Market</h3></div> <div><p>wire.insiderfinance.io</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*3lTsTbOrsSredYYbuupAuA.png)"></div> </div> </div> </a> </div><div id="6480" class="link-block"> <a href="https://readmedium.com/lehman-revisited-how-chinas-evergrande-crisis-sent-shockwaves-worldwide-a632a533ed46"> <div> <div> <h2>Lehman Revisited: How China’s Evergrande Crisis Sent Shockwaves Worldwide</h2> <div><h3>Goosebumps | Investor | BTC | News Turmoil | Just Think</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*RAQ4uPLDUuxBAxqKVH5xvg.png)"></div> </div> </div> </a> </div></article></body>

Revealing The Truth Behind The Friend.Tech

Shares | Airdrops | Value | Risks | Step by Step Guide

On Twitter and Telegram, there is a lot of hype about Friend Tech. A lot of people are sharing the invite code, but very few know what it is or how to use it. We will also discuss whether friend.tech is a scam or a legitimate opportunity.

I’ve been trying to install a friend tech’s app on my phone for several days now, however, it’s a very buggy app with many problems. Finally, the app was installed, and I started testing everything.

Have you thought about why friend tech has become so popular? friend tech reminds me of an old BitClout project. In 2021, BitClout got a lot of attention at first, but after that, negative things began to spread due to a lack of transparency, and people began to dislike it.

BitClout

The concepts of BitClout and Friend tech are 100% similar without even a 0.01% change. From my research and study, I am sure that friend tech is not the latest innovation, BitClout has already done such an experiment.

There was a problem of transparency in BitClout but it is not in friend tech. All transaction in friend tech is on the chain and nothing is hidden.

Fear

Majority of the people are afraid of installing the Friend Tech app because people are worried about if they install the application on their devices then Friend Tech will get access to their wallets and can be able to hack funds but now that fear is gradually reducing. But why was the fear suddenly reduced? If you don’t know then let me tell you, actually Friend Tech developed their application on the BASE Chain. Additionally, on the official Twitter account of the BASE you can see that BASE promoted and supported the friend tech.

Investor

BASE’s support for friend tech is positive; moreover, PARADIGM Venture Capitals invested in the friend tech during the seed round, and they also officially announced it on Twitter.

Invite Concept

Friend Tech used a very smart strategy to get popular, if you have also heard about this then you must have known that we can access Friend Tech if someone who is already using it invite us otherwise we cannot use it. This thing made Friend Tech quite viral because it arose curiosity among the public that what kind of app or project is it.

Airdrop

There is one more reason why people are getting attracted to Friend Tech and that is an Airdrop. They announced that they will also launch an airdrop. They already put aside 100 million points for the BETA Testers which will be distributed to them every Friday for the next 6 months but how many points each person will get and how it will be distributed on what basis has not been mentioned anywhere.

I am not sure how they will distribute the points but as per my assumption, regular use may increase the chances to get more points.

Use of Points

There is one more problem in addition to the distribution clarification and that was they did not mention anywhere the use case of the points and whether those points will be converted into tokens after 6 months or not? On Twitter, Friend Tech only told that these points can be used for a special purpose but for what kind of special purpose was not announced by them. Only after 6 months when the application will be launched officially we will know whether the points will be converted into a token or not and their special purpose.

Those who have a lot of followers on Twitter have already opened their accounts on Friend Tech. ( Almost, Not everyone)

How to Create an Account

First of all, we have to get the invite code of Friend Tech from any social media platform or group. This code will start with ft-(invitation code). The easiest way to get the code is to search for “ft-” on Twitter.

To install it, simply go to any browser and type friend tech. As soon as the app is installed from the browser, it will be added to the home screen of the smartphone.

ETH

After signing up in the app, you have to link your Twitter id by entering the invite code. Now here is the problem, to activate the newly created account, a minimum of 0.01 ETH is required. Don’t worry 0.01 ETH is not a fees, charge, or any kind of activation fee; you just need to keep it in your friend tech wallet.

BASE

If you already have ETH on the base chain, you can transfer it directly to the friend tech’s wallet. If the funds are not on the Base chain, you can move them to the Base chain by going to Layer3.

Buy Share

After the activation of your account, on Friend Tech you will be asked to buy a share. Don’t get startled by seeing this because to buy the share you do not have to pay any penny, which means you can get the share for free in $0. Only a small fee will get deducted for doing transactions with the BASE chain. In this way your account will be activated and 1 share will be added to it.

Miracle

As soon as your account is activated, people will start buying and selling your shares within minutes. All this will be done without any sharing or promotion and automatically share trading will start.

Here the miracle is that as soon as any user completes all the above steps and activates his account after buying a share for free then its own share will be created. Any Friend Tech user who likes you or following your Twitter account can trade in your shares.

All of the creator’s shares are bought and sold on Friend Tech; for me, this is clearly a trade like we usually do on the crypto platform and stock market. Here on this platform, people may do the trades based on how popular the creator or a person is and how far its value can go.

Here neither any creator nor the user has created his/her share nor there is any backing (Monetary Backing) behind the share. Simply users are doing share trading by looking at your profile.

How is Friend Tech Making Money From This?

If any creator or user trades in your share, a gas fee will be taken for the amount traded in your share. A portion of the gas fee earned from your share will be transferred into your wallet automatically.

In the case of share trading, a portion of the fee will be paid to the platform and the rest to the creator or a user. This is how they are going to make money.

Everyone has the same question and Also I want to ask this question to everyone: Why people are trading in these shares? or I can say that why should anyone would trade in those shares who doesn’t have any monetary value or backing of any kind of assets?

To know the answer of this question I had done some analysis and I made a simple conclusion based on my assumption:

You would like to put your money on the creator you’re supporting to accomplish something special for the shareholders in the future.
You wish to exchange shares by determining the ID value or face value of the creator or a user.
Just want to enjoy this game like a horse racing to see who will win and reach the top position.
In this people who had purchased a share of a particular creator can talk directly with the creator. But it is still not known whether the creator will reply to your direct message in the chat but here creator can give personal suggestions, guidance, and advice to all of its shareholders. Simply, the shareholder is getting direct access to talk with the creator or a user.

Top User Whose Share Value has Reached 3 ETH

Cobie has risen to the top of the list, with 172 people owning shares at a price of over 3 ETH. Now his share value has reached 3 ETH so like an NFT if you want to own a share of Cobie you have to pay 3 ETH. ( Seriously man, I am not going to pay for something which does not have any actual value )

The share price of everyone’s account is different and the price is different.

How to Buy

By going to the account of your favorite creator and opening the profile, the BUY & SELL box will open.

Here the share value of 0.002 ETH keeps increasing as people buy. Let’s assume that a user had bought a share at 1 ETH, then now another user will have to buy the same share at 1.002 ETH by giving 0.002 ETH extra.

My friends, I explained everything about How this platform works, how they make money and how the price of the shares is increasing on the platform, and how the trades are taking place on Friend Tech. Now Let’s talk about the Airdrop, the second main cause of the Friend Tech popularity increment.

Airdrop

You will get only 3 invite codes everyday which you can share it. The more people who join with your invite code, the more points you will get. These points will help you to get future airdrops.

Fund

There will be a value of ETH in the right-hand corner of the account; click there. When you click, the wallet will open, displaying the share you purchased, its value, and how much Trading fees you have received.

You may deposit and withdraw funds here. If you wish to keep control over your wallet, you may do so by importing the private key into MetaMask and selecting Export Wallet.

Wait a minute, can we trade shares without registering on friend tech? Yes, You certainly can.

For this, you must have funds in Metamask or BASE. FriendMEX is built to make share trading easy. FriendMEX is an open-source project. You can buy or sell the creator’s shares by coming to FriendMEX.

Opportunity or Scam

If the creator has made an account in friend tech for the first time and has more followers and traffic in the post, he can buy his share. In the beginning, you can purchase the share at a low price and sell it at a high price. The more individuals who acquire the popular creator’s shares, the higher the price will progressively rise.

The big disadvantage is that if you get a share at a higher price and then suddenly the value of the share falls due to some reasons then you will have to suffer a huge loss. So before taking any kind of decision, especially on this type of platform do your own research and analysis.

This is extremely risky and here anything can happen to the share of the creator, anything can happen to the user’s fund, and there is also a hacking risk as we have seen in my crypto projects. Trading in any type of share whether it is a share of the stock market, crypto market, or any other market; is considered financially risky.

Among all of these types of share friend tech has introduced a new type of share and this kind of shares which do not have any monetary value or backing are the riskiest.

Purpose

If you want to use friend tech despite knowing how financially risky it is then you may use it only for the purpose of getting more points so you can get a benefit of the future airdrops. The more you use the more points you will get which will make Airdrop farming beneficial.

In the future, if the creator does some promising things for the shareholders, then some value will remain in those shares, otherwise the price may crash. In the end, before making any kind of financial decision do your own research and analysis because this kind of thing is extremely risky.

Clap — Share — Comment — Happily ☺

Thank You for Reading…

Disclaimer

I am not a Financial advisor. I am not affiliated with Friend.tech or any other websites or coins and also this is not financial and Investment advice. This article is meant only for educational purposes. I am just sharing my thoughts and analysis based on my many years of experience.