In our last article on “How to buy Solana Meme Coins”, you’ve probably heard about projects on Solana and its cheap gas fees and lightning-fast transactions. I am writing this article to show you a step-by-step guide on how to buy Solana memecoins on the Solana network. So there are two ways I personally buy meme coins on the Solana network using a combination of the phantom wallet and BONKbot on telegram. Let me break it down for you.
Radium or Jupiter Guide to Buy Solana Meme Coins
Step 1: Download the Phantom wallet from the Apple AppStore or Google PlayStore.
Step 2
Add/Connect a new wallet. In the Phantom app, you can create a new wallet or add an existing one. Phantom supports Ethereum, Solana, and Polygon chains.
Once your wallet is added, your balance should update to display the assets in your wallet.
Step 3
Fund your wallet. Click the “Receive” button to initiate a deposit of Sol, Eth, or Polygon. After clicking “Receive,” a column with addresses or a QR code will display. Copy or scan the deposit address and paste it into the address bar of the exchange or wallet you’re sending the asset from. It’s best to deposit Solana for meme coins. Your funds will appear in your wallet once the withdrawal request is processed.
Step 4
Get the contract address of the desired meme coin. Assuming you’ve researched and selected the meme coin, you can find its contract address on DEXScreener. Copy the contract address (a string of letters and numbers) by clicking the icon resembling a floppy disk on the right side the meme coin and Solana pair.
Step 5
Purchase the meme coin. Open your Phantom wallet, click the globe icon at the bottom right side, and select either Jupiter or Raydium to swap Solana for the memecoin. After selecting Jupiter or Raydium, a transaction window will appear. Click the automatic coin, paste the contract address, input the quantity of Solana you want to swap, and click “SWAP.” If successful, you should see the meme coin in your wallet, with its value displayed when you click the “$” sign at the bottom left of your screen.
Now you can hodl and sell to make a profit as the price increases. Gamble wisely!
BONKbot Guide To Buy Solana Meme Coins
Alternatively, you can use Telegram to buy meme coins via BONKbot, which is usually used for meme coins trading because it is faster than Raydium or Jupiter.
1. Download the Telegram app from the AppStore or Google PlayStore.
2. Search for BONKbot in the search bar, click on it, and initiate a chat. Type /start to open the main menu.
3. Click on the “Wallet” option to view the wallet created for you by BONKbot.
4. Copy the address and paste it into your Phantom wallet’s send page.
5. Input the amount of Sol you want to send to your BONKbot and click “Next.”
6. Return to Telegram, click the “Refresh” option, and you’ll see your new balance.
7. Follow step 4 of the Jupiter guide to paste the address of the desired coin into the chat and hit enter. You’ll see details of the coin, including price and market cap, with an option to purchase.
8. Type the amount you want to swap for the meme coin and send. A message window will display your transaction details, including Sol scan for verification, and details of the meme coin purchased, such as net profit/loss balance, etc.
Congratulations you are now a proud owner of a meme coin. You can check out how to find new projects on Solana
Note: The market is known for its volatility and unpredictability, and while there’s potential for high returns, there’s also a significant risk of loss. Always conduct thorough research, understand the risks involved, and never invest more than you can afford to lose. Stay informed and make decisions based on sound judgment and current market analysis. No financial advise was offered in this article.
