Meme coins, a cryptocurrency token category born out of internet memes and community engagement, first emerged in 2013 and garnered significant public attention in the late 2020s.
Recent reports show that institutional investment in meme coins has increased by more than 300% since January 2024, hitting peak highs of $300 million in April.
This guide will offer illustrated, step-by-step instructions on how to buy meme coins on Coinbase. We will also cover alternative methods, such as utilizing popular cryptocurrency wallets and DeFi apps.
How to buy meme coins on Coinbase: Step-by-step guide
Outlined below are the four simple steps to buy meme coins such as Pepe Coin via a tier-1 cryptocurrency exchange.
Due to the decentralized nature of meme coins, it is strongly recommended that you do your own research and assess your risk appetite before investing in meme tokens.
Step 1: Download Coinbase and create a new account
Our experts have opted for Coinbase for this demonstration, as it is a leading crypto exchange worldwide and a good starting point for traders seeking to buy meme coins.
Coinbase provides cryptocurrency trading services and other web3 products to more than 100 countries worldwide and is recognized as a trustworthy, secure, and compliant crypto platform.
Firstly, visit the official Coinbase site and sign up. For this demonstration, we opted for an Apple iOS mobile device and are accessing Coinbase via a web browser.
Step 2: Set a password and enter personal information
The next step requires entering your legal name as displayed on government-issued ID documentation. The email address will automatically be recognized. However, it is good practice to double-check and ensure it is correct.
Set a secure password using a mixture of alphanumeric and special characters, check the disclaimer, and click “Create Free Account”.
Next, Coinbase will send a verification email to your account, which you must open to activate your account. Click the “Activate Account” button or open the activation link provided in the email in a web browser.
Your account will now be activated successfully.
Step 3: Verify identity documents and link payment method
At the next stage, you must submit Know Your Customer (KYC) information to utilize Coinbase’s full services.
You must upload an official government-issued form of ID, such as a passport or driving license. You must also confirm your primary country of residence and full address, accompanied by two utility or bank statements matching the details provided.
Facial screenshots via KYC and compliance apps such as OnFido may also be requested during registration.
US customers must add a payment method, provide supporting documents, and verify the bank account. Two small verification amounts will be sent to your account, which you must enter correctly in the ‘Payment Methods’ section. You can also opt for “Instant Verification”, which utilizes a third-party app.
Compliant Crypto Exchange: Coinbase is a leader in crypto compliance from a regulatory standpoint. This Web3 corporation is a publicly listed company on the NASDAQ stock index. Coinbase is considered one of the most secure crypto exchanges due to its commitment to compliance and stringent regulatory oversight.
Step 4: Buy meme coins directly via bank account
Coinbase supports directly purchasing cryptocurrencies via a linked bank account. Alternatively, you can conduct an ACH wire transfer to pre-fund your Coinbase account in fiat before purchasing any crypto assets.
We opted for the instant buy method, which proved faster for buying crypto, which can be traded immediately. Buying directly with your bank account also has higher buy and sell limits. You can buy a range of the leading spotlight meme coins like Pepe and Doge on Coinbase.
Navigate to the top list in the “Individuals” category and select the “Buy and Sell” option. You will come to an exchange window to buy crypto directly using a bank account. Next, select which crypto meme coin you would like to purchase and enter the amount.
Check and confirm your desired payment method or linked bank account in the second box.
Follow the security verification process stages and confirm the purchase. Your newly purchased crypto should appear in the Balances section of your account. Processing times and fees can vary, so it’s good practice to see the available payment options in your region.
Other ways to invest in meme coins
Below, find a table listing other methods of buying meme coins. Included are centralized exchanges and in-wallet options.
| Kraken – Crypto exchange aiming for an IPO | You can buy meme coins on Kraken via their centralized trading platform. You will need to provide KYC identity verification on Kraken and connect a funding method to purchase over 200 cryptos, including spotlight meme tokens like $PEPE and $WIF. |
| Binance via (Binance.US) – Leading crypto exchange by trading volumes | Binance is ranked the top crypto exchange by daily trading volumes. US traders can use Binance.US to have access to over 150 cryptocurrencies and four stablecoins. You can buy, sell, and trade notable meme coins such as Dogecoin, Floki, and Shiba Inu. |
| ByBit – Access to meme coin spot markets, futures, and derivatives | You can buy meme coins on ByBit with over 60 different fiat currencies. ByBit offers a wide selection of 20+ meme coins available to buy directly with fiat, with zero fees when utilizing Apple Pay and GPay. However, you should examine ByBit’s supported jurisdictions when buying crypto with debit card payments. |
| Crypto Wallet – Purchase meme coin directly in the MetaMask wallet app | MetaMask is one of the most widely used crypto wallets among crypto traders. Depending on your region, you can buy meme coins directly from within the MetaMask wallet via third-party firms that provide fiat on/off ramping services. Using a non-custodial crypto wallet, you can also connect to DexTools or Uniswap to invest in meme coins directly on decentralized exchanges. |
How to sell meme coins
There are several different ways to sell meme coins, some of which we will cover below. Some are better suited for traders wishing to maintain a crypto portfolio or trade on decentralized exchanges. Selling cryptos instantly to receive fiat currency directly to your bank account is also an option. Read on to find out how to sell meme coins.
Sell meme coins for crypto: Crypto exchanges will provide access to crypto to crypto trading pair markets. You can swap meme coins directly for other cryptocurrencies, such as Bitcoin, Ethereum, or stablecoins, such as Tether or USDC. This method is more suitable if you wish to maintain a crypto portfolio or are day trading in the crypto markets.
Fiat on/off ramp: Several companies provide on and off ramping to crypto with fiat currencies. Crypto payment platforms such as MoonPay, Banxa, and Simplex have numerous payment rails and offer multiple alternative payment methods. These firms have authorization from financial clearing houses such as ACH and PIX. You can sell meme coins through these third parties and receive fiat directly in your bank account.
Swap on DeFi dApps: Decentralized exchanges are a great place to explore the world of DeFi. Relatively new or upcoming meme coins that aren’t on mainstream crypto exchanges will likely be listed on DEX platforms such as UniSwap, Pancakeswap, and Jupiter. What is great about DeFi swaps is that you have limitless options regarding which crypto you wish to swap for, provided the trading pair has available liquidity.
Expert Tip: Crypto enthusiasts will know the rule of never leaving all of your crypto assets on one centralized exchange. As evidenced by the FTX collapse, it is recommended that you learn about types of crypto wallets. It is essential to explore best security practices for storing crypto assets.
What are meme coins?
Meme coins are a category of blockchain-based crypto tokens that poke fun and humor at a cartoon, company, person, or internet meme. Some of the best Solana meme coins recently experienced explosive price rallies from 2024 until April, referred to as the Solana meme frenzy.
One of the most noteworthy meme coins is Dogecoin, which popularized the Shiba Inu dog theme in the crypto sector. $DOGE was created as a community token that could act as a tipping mechanism to be used by Doge supporters to reward fellow community members for sharing funny Shiba dog memes across retro chat forums like 4Chan.
Another popular meme coin is the Pepe coin, which really took inspiration from one of the biggest internet memes of the 2000s. Pepe Coin’s branding was inspired by the Pepe the Frog character, which has skyrocketed the crypto and internet communities’ love and admiration of the character.
Overall, meme coins are a unique token category that is only now garnering more public attention. This category of tokens usually launches without a roadmap, whitepaper, or solid project foundation.
They are simply tokens launched for the crypto community to enjoy, buy, sell, and trade; they are also used to create and share memes on social media.
While they are much more risky than traditional cryptos, there is a certain thrill for the younger generation of crypto degen traders with little financial responsibility to ape into meme coins.
Tip: Check out our catalog of step-by-step guides for presales, including PlayDoge, Base Dawgz, and WienerAI, among other meme coins that are launching in presale. By providing buying guides, we aim to assist users in better understanding how to navigate the Web3 world and the necessary tools.
