How to Buy Meme Coins in 2024 – Complete Guide
Meme coins have historically provided huge returns to early investors. From Dogecoin and Shiba Inu in the past to Pepe and Dogwifhat more recently. These tokens offer opportunities for rewards; however, there are significant risks associated with them due to market volatility.
Now, are you still interested in diving into the world of meme coins but not sure where to start? In this comprehensive guide, we’ll walk you through everything you need to know and detail how to buy meme coins with ease and confidence.
3 Best Ways to Buy Meme Coins
When it comes to buying meme coins, there are three primary avenues you can explore to do this. These include early launches via presales and initial coin offerings (ICOs), centralized exchanges (CEXs), and decentralized exchanges (DEXs).
The steps required can sometimes be different, so to make it simpler, we’ve broken down the process for you. Before we get to that, let’s look at the three best ways to buy meme coins.
- Presales and ICOs: One of the earliest ways to buy a meme coin is by participating in presales and initial coin offerings (ICOs). Here, you can acquire new meme coins at a presale price before they hits the public markets.
- Centralized Exchanges (CEX): You can also buy established meme coins on centralized exchanges, which offer liquidity and ease of access. Once a meme coin begins to gain popularity, platforms like eToro, MEXC, or Binance will offer them to clients.
- Decentralized Exchanges (DEX): Alternatively, you may decide to trade meme coins directly on decentralized platforms like Uniswap, leveraging the benefits of blockchain technology. DEX platforms are usually where meme coins first become available following or during presales.
How to Buy Meme Coins on Presale
If you are wondering how to buy new meme coins at the earliest possible stage, let’s take you through it. Participating in presales offers early access to new meme coins before they hit the market. However, it’s essential to conduct thorough research and due diligence before investing to find the best crypto presales as there are both advantages and disadvantages to investing in crypto presales.
Let’s take a look at the process using Dogeverse as an example:
1) Visit Presale Page
Start by heading over to the presale page for Dogeverse to learn more about the project and the token sale details. Once there you will be given the option to connect to a wallet or to buy using ETH.
2) Connect Wallet
Let’s go with the former and connect your cryptocurrency wallet to the presale platform to prepare for purchasing tokens. This can be a self-custody wallet like Metamask or a centralized alternative like Coinbase. Choose the option, and you will be guided to enter the wallet details.
3) Select the Quantity to Buy
Once your wallet is connected simply enter the amount of Dogeverse tokens you want to purchase during the presale. $DOGVERSE tokens can be bought using BNB, ETH, AVAX and MATIC.
4) Confirm Transaction
Finally, verify the transaction details and confirm your purchase to secure your allocation of Dogeverse tokens. These will be added to your wallet.
Pros and Cons of Buying Meme Coins on Presale
Investing in any crypto presale should only be done after thorough research. Here are some points to consider:
- Buy meme coins at a discount price before listing
- Buying directly from the project with no intermediaries or exchanges.
- Some early investors see huge returns
- Speculative investment
- May have to wait a while to receive tokens
How to Buy Meme Coins on a CEX
Should you want to avoid the risk of buying tokens at the presale stage, centralized exchanges provide a user-friendly alternative for buying and selling meme coins with ease. Let’s walk through the process of purchasing meme coins like Dogecoin on a CEX.
1) Choose a CEX
Start by choosing a reputable CEX that supports the meme coin you want to buy. It can be hard to know where to buy meme coins, so for this example, we will use eToro. eToro is a global crypto exchange that offers social and copy trading features and is planning to launch an IPO later this year.
Visit its official website and start by clicking “Join eToro.”
2) Create an Account and Complete KYC
After initiating the process you will need to sign up for and complete the necessary Know Your Customer (KYC) verification process. All you need to do is register using your email address and personal information, and you will then need to verify your identity.
Click “Verify” once you are on the homepage, and you will be asked to upload a photo of your ID and proof of residence.
3) Deposit Funds
With your account now opened and verified, it’s time to add funds. Deposit funds into your eToro account using a supported payment method, such as bank transfer or credit card.
4) Search for Meme Coin
Use the search function on the exchange to locate the meme coin you wish to purchase. In this example, we want to buy Dogecoin. Search for the token, and then go to the price page.
5) Place Order
Finish by entering the amount of dogecoin you want to buy and place your order. Once filled, the meme coins will be credited to your exchange wallet.
How to Buy Meme Coins on a DEX
Another way for those wondering how to trade meme coins is by using a DEX. Decentralized exchanges (DEX) offer a convenient way to trade directly from your wallet without relying on a centralized intermediary. One of the most popular DEX platforms is Uniswap, known for its user-friendly interface and extensive selection of tokens.
1) Select a DEX
Choosing the right DEX depends on the blockchain network you’re using. Uniswap is the go-to option for Ethereum-based meme coins, offering a seamless trading experience. For Solana-based meme coins, platforms like Jupiter or Raydium are excellent choices.
Each DEX has unique features and supported tokens, so it’s crucial to research and select the one that best suits your needs. For this example, let’s go with Uniswap. Visit the platform, and you will be guided to connect it to a wallet.
2) Connect Your Wallet
Before you can start trading on Uniswap, you’ll need to connect your cryptocurrency wallet. Uniswap supports various wallets, including MetaMask, Trust Wallet, and Ledger Nano S. By connecting your wallet, you gain direct access to your funds and maintain full control over your assets throughout the trading process.
3) Select the Meme Coin
Once your wallet is connected, navigate to the token selection menu on the DEX platform. Here, you can browse through the available meme coins and select the one you wish to purchase. Uniswap offers a vast array of tokens, including many popular meme coins like Dogecoin, Shiba Inu, and Pepe.
4) Swap Tokens
After selecting the desired meme coin, specify the amount you want to buy or trade. Uniswap employs an automated market maker (AMM) model, allowing users to swap tokens directly without the need for traditional order books. Simply input the amount of cryptocurrency you’re willing to exchange, and Uniswap will automatically place the trade at the current market rate.
5) Confirm Transaction
Once you’ve entered the transaction details, review the information carefully and confirm the trade. Be mindful of gas fees, which are associated with Ethereum-based transactions and can fluctuate depending on network congestion. After confirming the transaction, the meme coins will be deposited directly into your wallet, ready for you to hold or trade as you see fit.
Gas Fees on DEXs
Although DEXs can offer an anonymous and direct way of buying meme coins, the fees associated with this can vary hugely due to gas fees.
CEXs often facilitate your trade with their own funds, and as such, you don’t need to pay gas fees. During times of high network congestion, trading on a DEX can become costly. Gas fees on ETH transactions on Uniswap hit a 12-month high in 2023, fuelled by demand for the Pepe meme coin.
Which Networks Can You Buy Meme Coins on?
Meme coins, known for their viral nature and speculative appeal, are available across an array of blockchain networks. Understanding the most popular networks for meme coins is essential for investors looking to diversify their portfolios or participate in meme coin trading.
So, if you want to know more about where to trade meme coins, let’s explore the primary networks that currently house them.
Ethereum Meme Coins
The Ethereum network is the epicenter of meme coin activity, offering a robust platform for the creation and trading of decentralized tokens. Many meme coins leverage Ethereum’s smart contract functionality to implement unique features and tokenomics. Some of the most popular meme coins on the Ethereum network include Shiba Inu and Pepe.
Shiba Inu (SHIB): Inspired by Dogecoin, Shiba Inu gained popularity for its meme-centric branding and innovative tokenomics, including decentralized exchange (DEX) listings and a decentralized autonomous organization (DAO) structure. Currently, SHIB is the second largest meme coin behind Dogecoin and has a market capitalization of $13.2 billion.
Pepe (PEPE): Inspired by the internet meme Pepe the Frog, PepeCoin aims to create a decentralized meme economy where users can create, trade, and monetize digital assets based on the Pepe character. Since launching as an ERC-20 token in May 2023, Pepe has been one of the biggest gainers in the entire crypto ecosystem. It has risen by over 5,000,000% securing a $2 billion market cap in the process.
Solana Meme Coins
Solana, known for its high throughput and low transaction fees, has emerged as a popular blockchain network for meme coin projects. Meme coins on Solana benefit from fast transaction speeds and reduced gas fees compared to Ethereum-based alternatives. Bonk and Dogwifhat are some notable meme coins on the Solana network.
Bonk (BONK): Bonk is a meme-inspired token on the Solana network that combines decentralized finance (DeFi) features with engaging community initiatives, such as yield farming and liquidity mining. It is currently a top 90 cryptocurrency and has a market cap of $900 million.
Dogwifhat (DOGWIFHAT): Leveraging Solana’s scalable infrastructure, Dogwifhat offers a meme-centric token with fast transaction speeds and low fees, attracting users interested in meme coin trading and decentralized applications (dApps). This has been one of the more viral meme coins in recent years, making huge returns for early investors.
Meme Coins With Their Own Network
Some meme coins have transcended traditional blockchain networks and established their own dedicated platforms. These projects offer unique features and governance structures tailored to their specific communities. The most prominent example of a meme coin with its network is dogecoin.
Dogecoin (DOGE): Created as a joke, Dogecoin has evolved into a widely traded digital currency with a passionate community and notable endorsements from figures like Elon Musk. Musk famously changed the Twitter logo to the Dogecoin symbol after acquiring the social media platform. Dogecoin is the largest meme coin in the world, and as of writing has a daily trading volume of $3.5 billion.
Dogverse (DOGVERSE): Although not on its own proprietary network, Dogverse is a multi-chain meme coin operating on several networks. These include Ethereum, Binance, Polygon, and Solana, with Avalanche and Base integrations in the works. It is currently in the middle of its presale and has raised over $5.4 million.
Conclusion
This guide has covered where you can buy meme coins and the detailed steps to take to do so. In conclusion, meme coins offer investors a unique opportunity to participate in the speculative and often entertaining world of cryptocurrency trading. Understanding the different networks where meme coins operate is crucial for navigating this dynamic market and identifying promising investment opportunities.
Whether you decide to invest in presales, or via centralized or decentralized exchanges, it is important to fully research the tokens and the associated projects behind them.
References
- Ethereum Gas Fee Surges to 12-Month High as PEPE Frenzy Grips Market (Yahoo)
- UK-focused retail broker eToro considers New York for IPO (Financial Times)
- Solana Meme Coin Dogwifhat Soars 30% on Bitget Listing, SOL and BONK See Gains (Decrypt)
- Twitter makes unexplained logo change to Dogecoin cryptocurrency image (The Guardian)
- Pepecoin’s Bewildering Rise Turned a Pittance Into an Almost 5,000,000% Meme Coin Profit (Yahoo)
FAQs
Where can I buy meme coins?
Meme coins can be bought on centralized exchanges (CEX) and decentralized exchanges (DEX). Popular platforms like eToro and Uniswap offer a wide selection of meme coins for trading.
Which exchange is best for buying meme coins?
eToro is the best centralized exchange for buying meme coins. It offers traders security, simplicity as well as a range of social trading features great for beginners.
How do you buy meme coins before listing?
Investors can participate in meme coin presales or initial coin offerings (ICOs) to acquire tokens before they are listed on public exchanges. However, these investments carry risks and require thorough research to avoid potential scams.
Does Coinbase list meme coins?
Coinbase, one of the largest cryptocurrency exchanges, lists meme coins like dogecoin, Shiba Inu, and more.
Is it safe to invest in meme coins?
Investing in meme coins carries inherent risks due to their speculative nature and volatile price movements. While some meme coins may experience rapid growth and generate substantial returns, they can also lead to significant losses.
About the Author
Elliott Lee 
Michael Graw 
Eric Huffman 
Kane Pepi