How to Buy New Meme Coins?

New meme coins are all over the crypto world and promising they’ll follow in the footsteps of Dogecoin and Shiba Inu. Surprisingly fun as it may sound, buying new meme coins is an adventure that you should follow with caution, research and a proper tool.

If you’re ready to purchase new meme coins and join the growing meme crypto community, here’s a step by step guide.

Why Buy New Meme Coins?

But new meme coins tend to attract investors with their potential for exponential growth. Here are a few reasons people invest:

• High Growth Potential: If the project does well, early investments in new meme coins can pay off quite well.
• Community-Driven Hype: Meme coins live and die on community support, with new coins launching amid enthusiastic support from users.
• Innovative Features: Some new meme coins come with new tokenomics, staking rewards, or charity.

But, of course, that new meme coin comes with its own risks — scams, low liquidity, price swings, etc. Carefully and do research.

How to buy new meme coins step by step

1. Research the Meme Coin

Before investing in any new meme coin, gather as much information as possible:

• Official Website: Visit its coin’s website to get to know its mission, roadmap, and tokenomics.
• Social Media Channels: For community updates, join the Telegram or Discord, or Twitter.
• Market Listings: Check up the coin to ensure it is legit on any of the platforms like CoinMarketCap or CoinGecko.
• Whitepaper: Consult the project’s whitepaper for detailed information about project objective and purpose.

2. Choose a Compatible Wallet

Most new meme coins is transferred to the wallets hosted on popular blockchains like Ethereum (ERC-20), Binance Smart Chain (BEP-20). In order to work, you will need a crypto wallet that supports these networks.

Recommended Wallets:

MetaMask: It is perfect for Ethereum or Binance Smart Chain games.

Trust Wallet: Super easy to use and supports multiple blockchains.

Setting Up Your Wallet:

• Install the wallet app or browser extension, and download it.
• Store the recovery phrase with a wallet so that it’s safe.
• Now add the right blockchain network (Binance Smart Chain or Ethereum) on your wallet.

3. Swapping (Crypto/Name Transfer)

To swap for the new meme coin, you’ll need a big groupName, like Ethereum (ETH) or Binance Coin (BNB).

How to Fund Your Wallet:

For that first step, you buy crypto on an exchange like Binance, Coinbase, or even Kraken.
Once you get the purchased crypto, take it to your wallet by using the wallet address to withdraw from that exchange.

4. Decentralized Exchanges (DEXs)

 

After the launch of the new meme coins, they are hardly listed on the largest centralized exchanges (CEXs). Instead, they are usually traded on decentralized exchanges.

Popular DEXs:

• Uniswap: For Ethereum-based tokens.
• PancakeSwap: For Binance Smart Chain tokens.

How to Connect Your Wallet to a DEX:

• Go to the DEX website e.g Uniswap.org or PancakeSwap.finance.
• On the home page, click ‘Connect Wallet’ and then choose what wallet it is you want to connect (MetaMask, Trust Wallet, etc.).
• You approve the connection in your wallet.

5. Import the New Meme Coin

In order to purchase the new meme coin, you require the contract address of the project upon which you can found on the project’s website or verified platforms such as CoinMarketCap.

How to Import a Token:

• Transfer your token’s contract address.
• Simply paste it into the search bar on the DEX.
• You will have to select the token and then confirm its addition.

6. Swap for the Meme Coin

When you have the wallet connected and the coin imported, you can buy.

Steps to Swap:

• Choose the cryptocurrency you wish to exchange (eg ETH or BNB).
• Select the memecoin you want to get.
• Add or review the amount to swap.
• Set DEX settings’ slippage tolerance (usually between 5% – 12% for meme coins).
• Once you confirm the transaction, then you approve it in your wallet

7. Put the Meme Coin Into Your Wallet

After the swap you may not find the new meme coin in your wallet immediately.

How to Add a Custom Token:

• Navigate to “Add Custom Token” option from your wallet and then open.
• Paste in your contract address, select the right network and you’re done.
• You should see your token in your wallet.

Buying New Meme Coins Tips

1. Verify the Contract Address

Double check that the contract address is from trusted sources on the internet to avoid scam or fake tokens.

2. Assess Token Liquidity

Selling your coins in the future is made harder by lack of liquidity. The coin can be evaluated with help of the tools like DEXTools and their liquidity and trading volume.

3. Start Small

New meme coins are speculation. Invest small, only something that you can afford to lose.

4. Monitor Gas Fees

Gas fees for Ethereum transactions are expensive and grow quickly when the network is under a lot of strain (known as ‘peak usage’). More often, Binance Smart Chain or other blockchains offer a more cost effective alternative.

Here’s Where to Find New Meme Coins

To stay updated on the latest meme coins:

• Launchpads: Often, token launches take place on platforms such as Binance Launchpad, or Pinksale.
• Crypto Forums: Or head over to Reddit (r/CryptoMoonShots) or Telegram groups focused on meme coins.
• Social Media: Follow Twitter of crypto influencers and meme coin communities.

Conclusion

It is fun to buy new meme coins but also risky. After reading this guide you’ll be ready to start exploring decentralized exchanges, safely buying meme coins and perhaps even find your next big thing in crypto.

Keep in mind to first treat these investments with due diligence, skepticism and not invest funds you cannot afford to lose. Thanks to the right strategy and the tools, you can safely explore the world of the new meme coins.