Meme coins mostly reward early investors with significant returns. From Dogwifhat and Pepe to Dogecoin and Shiba Inus in the past. Due to the market’s volatility, these tokens present opportunities for rewards, but they also carry a significant risk.
Are you still eager to learn more about meme coins but not sure where to start? In this comprehensive guide, we’ll cover all you should know, including how to buy meme coins or how to invest in meme coins
Where To Buy Meme Coin?
Meme coin can be bought on a number of cryptocurrency exchanges, such as:
- KuCoin,
- Binance,
- Bybit
- MEXC.
It’s crucial to confirm if the exchange serves users from your nation before choosing one. Additionally, although some exchanges correspond to passionate cryptocurrency traders, many make more sense for clients looking to purchase and hold on to. Verifying whether the exchange provides all the trading tools you may want is also crucial. Although some investors only use current marketplaces, others additionally make use of futures as well as margin trading to make money. In the end, your unique set of interests will determine what the ideal exchange is. In light of this, let’s examine a few of the top cryptocurrency exchanges available.
Set your investment budget
Whether purchasing a meme coin or a different cryptocurrency, you need to be well-prepared with an investment strategy that is ready to go. If not, you run the danger of making rash, emotionally charged judgments that could negatively impact your ability to make investments. When making cryptocurrency investments, have the following tips in mind:
How much should you invest?
Never investing more than you can afford to lose serves as one of the most crucial guidelines any investor should adhere to. Stated differently, never make more investments than that you can bear to lose. This is especially true for the cryptocurrency market, where there can be significant fluctuations in prices and market volatility.
Let’s see how many MEMEs you would receive at the current $ 0.016423 per MEME pricing if you invested in a meme coin.
| Investment | Amount of MEME |
|---|---|
| $10,000 | 608,895 MEME |
| $5,000 | 304,447 MEME |
| $2,000 | 121,779 MEME |
| $1,000 | 60,889 MEME |
| $500 | 30,445 MEME |
| $100 | 6,088.95 MEME |
Previously, meme currencies have yielded substantial profits for early investors. These coins have prospects for rewards, yet they carry serious risks due to fluctuations in the market
3 Best Ways to Buy Meme Coins
When purchasing meme coins, you’ve got three main options available. These take into account initial availability through presales and initial coin offers (ICOs), centralized exchanges (CEXs), and decentralized exchanges (DEXs).
To simplify the process, we have dissected the steps, as they may vary at times. Prior to discussing that, let us examine the three most optimal methods for purchasing meme coins.
- Presales and ICOs: One of the early methods to acquire a meme coin is by involvement in presales and initial coin offers (ICOs). Here, you have the opportunity to purchase new meme coins at a discounted price right before they are made available to the general
- Centralized Exchanges (CEX): Established meme coins can be bought on centralized exchanges, providing both liquidity and accessibility. Once a meme currency starts to attract attention, companies such as eToro, MEXC, or Binance will likely make them available to their customers.
- Decentralized Exchanges (DEX): Another option is to effectively utilize the advantages of blockchain technology to exchange meme coins straight on decentralized marketplaces like Uniswap. DEX platforms typically serve as the initial venue for the launch of meme coins, either during or after presales.
How to Buy Meme Coins on Presale
If you are seeking guidance on purchasing newly issued meme coins when they are released and want to know how to trade meme coins, allow us to provide you with a step-by-step explanation. Engaging in presales provides the opportunity to gain early access to newly introduced meme currencies prior to their official release in the market. Prior to participating, it is crucial to engage in a comprehensive study and careful examination in order to identify the most favorable crypto presales. This is especially correct for the cryptocurrency market, where volatility and price bounces can be quite large. Now, let’s examine the method by using Pepe Unchained as a specific example
Visit Presale Page
Begin by visiting the presale webpage for Pepe Unchained in order to find additional information related to the project, plus all aspects of the token sale. After that, you’ll have the option of making investments using ETH in addition to setting up a wallet.
Connect Wallet
Let’s start with the first method and connect your Bitcoin wallet to the presale page so that we can prepare to purchase tokens. It might include control over your Wallets like Metamask or a centralized alternative like Coinbase. After selecting the option, you will be requested to type in your Wallet’s information.
Select the Quantity to Buy
Just add the number of tokens you wish to buy within the presale after your Wallet is attached.
Confirm Transaction
Finally, confirm your purchase and reconfirm the transaction details to make sure you get your Pepe Unchained token allotment. You’ll get them in your wallet.
How to Buy Meme Coins on a CEX
If you want to avoid taking the chance of purchasing or trading meme coins during the presale, centralized exchanges provide a simple alternative. Let’s examine how to purchase meme coins, like Dogecoin, on a CEX.
1) Choose a CEX
Selecting a trustworthy CEX that sells the meme coin you wish to purchase is the first step. Since it can be challenging to choose where to buy meme coins, eToro will be used in this example. The global cryptocurrency exchange eToro plans to go public later this year and provides social and copy trading capabilities. Go to its official website, then select “Join eToro” as your first step.
2) Create an Account and Complete KYC
You will have to register for and finish the required Know Your Customer (KYC) identification procedure after starting the process. Simply enter your electronic mail address as well as other details to register; you’ll then be needed to verify yourself. Once you reach the main page, select “Verify.” You are then instructed to upload a picture of your identity card and documentary evidence of residency.
3) Deposit Funds
It’s now time to put money into the Wallet because it has been set up and authenticated. Utilizing an acceptable payment approach, such as a credit card or wire transfer, you can add money to your eToro wallet.
4) Search for Meme Coin
Locate the meme currency that you wish to purchase and apply the search operation on the exchange. We would like to purchase Dogecoin in this particular case.” Next, navigate to the price page after searching for the token.
5) Place Order
Lastly, place your order by selecting the desired amount of Dogecoin. Once completed, the meme coins will be automatically deposited to your exchange wallet.
How to Buy Meme Coins on a DEX
Using a DEX is a further option for individuals who are curious about how to exchange meme currencies. Without using a centralized middleman, decentralized exchanges (DEX) provide a practical way to trade straight from your Wallet. Renowned for its vast token selection and easy-to-use interface, Uniswap is one of the most well-liked DEX platforms.
1) Select a DEX
Based on the blockchain platform you’re utilizing, you can choose the best DEX. The preferred choice for Ethereum-based meme coins is Uniswap, which provides a smooth trading environment. Sites such as Jupiter or Raydium are great options for meme coins based on Solana.
Favoured for its massive token availability and user-friendly interface, Uniswap stands as one of the industry’s most popular DEX platforms. Now, let’s use Uniswap as an example. You can link it to a wallet by visiting the platform and following the instructions.
2) Connect Your Wallet
Connecting your cryptocurrency wallet is an absolute requirement while trading on Uniswap. Wallets like MetaMask, Trust Wallet, & Ledger Nano S are among those that Uniswap allows. You may view your money immediately and keep full command over your assets while trading by linking your Wallet.
3) Select the Meme Coin
Browse and choose a token from the DEX platform’s menu after connecting your Wallet. From this page, you can peruse the various meme coins and choose the one you want to buy. Dogecoin, Shiba Inu, Pepe, and many other well-known meme coins are among the various tokens that Uniswap offers.
4) Swap Tokens
Declare how much you wish to buy or exchange after deciding on your preferred meme coin. Users of Uniswap can swap tokens right away without using conventional booking systems, thanks to the company’s automated market maker (AMM) concept. Uniswap automatically initiates the deal at the most current market price once you choose the quantity of bitcoin you’re open to exchange.
5) Confirm Transaction
After adding the details of the transaction, thoroughly examine the data and verify the trade. Remember that depending on network capacity, gas fees and other transaction charges associated with Ethereum transactions may vary. After the transaction is confirmed, the meme coins will be immediately added to your wallet, where you can exchange or keep them however you see fit.
Buying MEME by using Market Order
Market orders are utilized by investors who wish to acquire or sell a specific cryptocurrency as soon as possible, regardless of the exact price that is paid when the order is placed.
A market order is carried out at the best price that is readily available the moment it is placed; the investor fails to indicate a price while executing a market order. Since market orders are regarded as a high-priority order category, they are typically executed right away. Cryptos with significant trading volumes and strong liquidity, whereby the variation in execution price tends to be small, are the best candidates for market orders.
Buying MEME by using Limit Order
The greatest price an investor is eager to purchase at or the lowest price the investor is ready to sell at is specified by the limit order.
An investor indicates the price they are ready and interested in paying or gaining for a specific cryptocurrency before they place a limit order. Unless the investment reaches the designated price or the trader cancels the order, it stays open
Which Networks Can You Buy Meme Coins on?
Meme coins are accessible on several blockchain networks & are well-known for becoming viral and being speculatively appealing. Meme coins are widely recognized for going viral and having risky appeal. They are available on multiple blockchain networks. Investors who want to trade meme coins or broaden their holdings must understand the most popular platforms for meme currencies.
Ethereum Meme Coins
The hub of activities around meme coins is the Ethereum network, which provides a stable environment for the production and exchange of decentralized tokens. Numerous meme currencies utilize Ethereum’s ability to create smart contracts to incorporate exclusive features and tokenomics. Among the most widespread meme coins on the Ethereum network are Pepe and Shiba Inu.
Solana Meme Coins
With its low transaction costs and excellent efficiency, Solana has become a well-liked blockchain network for initiatives involving meme coins. Meme coins on Solana have lower gas costs and faster transaction processes than their Ethereum-based rivals. Among the well-known meme coins on the Solana network are Bonk and Dogwifhat.
Bonk (BONK)
A meme-inspired coin on the Solana network, Bonk blends the benefits of Decentralized Finance (DeFi) with interesting community projects like Liquidity Mining and Yield Farming. Currently ranked among the top 90 cryptocurrencies, its market capitalization is $900 million.
Dogwifhat (DOGWIFHAT)
By utilizing Solana’s scalable services, Dogwifhat attracts clients looking for meme coin trading as well as decentralized applications (dApps) by providing a meme-centric token with quick processing times and cheap fees. One of the more well-known meme currencies in recent years, it brought enormous profits to its early backers.
Meme Coins with Their Own Network
Certain meme coins have developed their specialized platforms and gone beyond conventional blockchain networks. These initiatives provide special features and community-specific governance frameworks. Dogecoin is the most well-known illustration of a meme coin with a network.
FAQs
Conclusion
Where to purchase meme coins and the comprehensive instructions for doing so have been discussed in this tutorial. To sum up, meme coins give investors a special chance to take part in the thrilling and highly unpredictable globe of cryptocurrency trading. Meme currencies function on several networks, and it is important to comprehend these networks in order to navigate this volatile market and spot good investment opportunities.
It is crucial to thoroughly investigate the tokens and the related projects around them before investing, whether or not you intend to do so by using controlled or decentralized exchanges or presales.
