Are you intrigued by the MAGA (TRUMP) token? If so, you’re not alone. This cryptocurrency has been gaining attention in the political token scene, attracting interest from both investors and supporters.
Like other politically-themed cryptocurrencies, the MAGA (TRUMP) token mainly offers symbolic value rather than tangible financial benefits.
However, some supporters may point out a few merits. It is one of the only active cryptocurrencies that donates to U.S. veterans and child rescue efforts. Additionally, for its community, it can represent political support and identity, community and solidarity, speculative investment, and memorabilia.
This article will explain the token, how it works, and, most importantly, safe methods to purchase it in 2024.
We will also explore important factors to consider before investing, such as transaction fees and potential risks. Whether you’re a seasoned trader or a curious newcomer, this guide will give you the knowledge you need to make informed decisions about the MAGA (TRUMP) token.
If you prefer, you can skip ahead to the buying guide here.
How to invest in MAGA (TRUMP): your step-by-step guide
These next steps explain how to buy MAGA, the unofficial token of the MAGA movement, on the MEXC cryptocurrency exchange.
Step 1: Sign up for an account on MEXC
- Head to MEXC’s website: Visit www.mexc.com and look for the “Sign Up” button in the top right corner.
- Create your secure login: Enter your email address, choose a strong password, and verify your account with the code sent to your email.
You’re in: Once you agree to the Terms of Service and click “Sign Up,” you’ll be ready to explore MEXC’s features and start buying and selling cryptocurrencies.
Step 2: Transfer funds to your MEXC account
- Once registered on MEXC, log in and head to your “Wallets” section (top menu). Select “Deposit.”
- Choose your deposit method (crypto or fiat) and click on the specific currency (e.g., Bitcoin).
- Follow the prompts (or scan the QR code) to generate a deposit address.
- From your external wallet (like MetaMask) or exchange, transfer your desired amount to the provided MEXC address.
MEXC advises using a stablecoin like USDT for smoother transactions when purchasing MAGA (TRUMP) on spot markets.
Step 3: Find the MAGA trading pair
- After your MEXC account reflects your deposit, navigate to the top menu and select the “Market” tab.
- Locate the MAGA trading pair by entering “MAGA” in the search bar.
- To access the trading page, click the MAGA/USDT trading pair.
Step 4: Buy MAGA crypto
- Pick order type: You’ll see different options for placing your order, like “Market,” “Limit,” and “Stop-Limit.” We recommend “Market” for beginners – it buys MAGA at the current market price.
- Enter Amount: Enter how much MAGA crypto you want to buy or how much USDT you want to spend. You can also use a percentage of your available funds. Double-check to make sure everything looks right before you confirm.
- Buy MAGA: Place your order by clicking the “Buy MAGA” button.
Step 5: Tracking your order (or withdrawing MAGA)
- Once your purchase is complete, your MAGA balance will be updated.
To move your MAGA to another wallet, go to “Wallets,” select “Withdraw,” and follow the steps to enter the withdrawal address and amount.
Congratulations, you’ve successfully bought MAGA on MEXC! This guide is always available for reference if you need a refresher.
You can track your order’s status under “Open Orders” or “Order History” on the trading page.
Other ways to invest in MAGA
To buy MAGA on Coinbase, first, sign in to your Coinbase account and navigate to the “Trade” section. Search for MAGA in the search bar, select it, and click “Buy.” Enter the amount you wish to purchase, review the transaction details, and confirm your purchase.
To add MAGA to your portfolio, you must first download and install Metamask, a crypto wallet. Then, you’ll need to purchase Ethereum (ETH) before swapping it for MAGA tokens.
To start, download and install the Phantom wallet. Once set up, purchase Solana (SOL) through your preferred exchange. Transfer the SOL to your Phantom wallet. Finally, use the wallet’s swap feature to exchange your SOL for MAGA.
What is MAGA ($TRUMP), and why is it popular?
TRUMP (MAGA) is a cryptocurrency inspired by Donald Trump’s famous slogan, “Make America Great Again.”
Launched on August 11, 2023, MAGA Coin aims to “Make Crypto Great Again” by leveraging Trump’s slogan, although it has no official ties to the former president.
MAGA crypto experienced a remarkable surge in value, skyrocketing by over 62,000%, peaking at $10.65 on March 4, 2024.
As of this publication, the token is trading at $6.25, with a 24-hour trading volume of nearly $20 million and a market cap that exceeds $300 million.
Why is it popular?
- Commitment to mission and brand promotion
MAGA ($TRUMP) stands out by allocating 10% of its total supply to Trump-related projects and donations to MAGA-friendly political candidates. It emphasizes charitable endeavors, supporting causes aligned with the MAGA movement. This commitment to promoting its mission and brand further enhances its popularity among supporters.
- Association with Donald Trump
The popularity of the MAGA token stems from its connection to Donald Trump and his “Make America Great Again” campaign.Supporters view it as a symbol of their allegiance to Trump’s political ideology and policies. Additionally, it functions as a collectible item for enthusiasts commemorating Trump’s presidency.
Trump coin and its correlation to the upcoming US presidential elections
The correlation between the TRUMP coin and the US presidential elections in 2024 is straightforward: it’s a speculative token influenced by political sentiment and perceived outcomes.
During elections, the token’s value may fluctuate based on public perception of Donald Trump’s chances of winning. For instance, investors anticipate surges in the token’s price with Trump leading in the polls.
However, post-election, the token’s value will likely be heavily influenced by actual election results and subsequent policies. If Trump wins, the token may see a sustained increase in value due to perceived favorable policies.
Conversely, if he loses, the token’s value could plummet as confidence wanes. Ultimately, the token’s value hinges on broader market sentiment and the political landscape, making it inherently volatile and speculative.
MAGA key facts and figures
| Project | MAGA |
| Ticker | TRUMP |
| Category | PoliFi, Memecoin |
| Circulating supply | 43M |
| Maximum supply | 47M |
| Price | $6.3 |
| Market Capitalization (Jun, 2024) | Over 300M |
| Network | Ethereum |
| Buy with… | Ethereum, Solana |
| Launch | 2023 |
This financial information is accurate as of the publication date (April 2024).
What is affecting the Trump coin?
These factors affect the price of the MAGA crypto, whether directly or indirectly.
1. Adoption and use cases
The price of TRUMP can be affected by its adoption and the emergence of practical use cases. Increased adoption for transactions, donations, or as a means of expressing political support can drive up demand and consequently raise prices.
2. Macroeconomic factors
External economic factors can influence the price of the Trump coin. Economic uncertainty or instability may drive investors towards cryptocurrencies as alternative investments, impacting MAGA’s price accordingly.
3. Market sentiment
Prices are heavily influenced by investor sentiment, reflecting perceptions of its value. Positive sentiment, driven by endorsements or political developments, can increase demand and raise prices. Conversely, negative sentiment, like inflation and geopolitical events, can lead to price declines.
4. Competition from other cryptocurrencies
Trump coin’s price can be affected by competition from other cryptocurrencies offering similar features or targeting the same niche market. Intense competition may lead to price wars or shifts in investor preferences, influencing MAGA crypto and its price dynamics.
Other sectors such as Web 3, DeFi, and recently AI coins are also drawing attention.
5. Regulatory developments
Government policies regarding cryptocurrencies significantly impact TRUMP’s price. News of regulatory crackdowns or proposed legislation can cause uncertainty and sell-offs, driving prices down. Conversely, regulatory clarity attracts investor confidence, leading to price increases.
What is the price prediction for MAGA in 2024?
Due to speculation, the price of the MAGA (TRUMP) token in 2024 is difficult to predict. The token’s value hit $17.51 in June 2024 but is not popular on major crypto exchanges.
It’s mainly traded in decentralized markets and only available on smaller centralized exchanges like MEXC, LBank, and CoinEx. The token’s value has dropped by over 50%, creating issues for major exchanges like Binance, OKX, Kraken, and Bybit.
Keep in mind, if Trump wins the presidential election, the MAGA (TRUMP) token could potentially 10x in value, driven by increased enthusiasm and speculative investment among his supporters.
On the other hand, if political or economic factors remain stable and there are no significant developments, the token’s price might stabilize around $6 – $7 by the end of 2024, reflecting its current market sentiment.
To diversify your portfolio further, explore our articles on Base Dawgz, PlayDoge, and WienerAI for even more options.
MAGA: FAQs
It depends. For experienced investors, TRUMP (or the MAGA token) may be an appealing investment due to its potential for growth and diversification.
However, for most investors, the MAGA (TRUMP) token is considered a poor investment due to its highly speculative nature, lack of intrinsic value, and heavy reliance on political sentiment over financial metrics or technological innovation.
Factors like the ‘Trump v. United States‘ court case, the US elections, and market uncertainty make this token an unpredictable buy option.
Nothing yet. You can’t buy specific goods or services directly with the MAGA (TRUMP) token in a conventional sense like you might with other cryptocurrencies. The MAGA token is primarily symbolic and more of a digital collectible or speculative investment than a currency for everyday transactions.
Earning directly with the MAGA (TRUMP) token can be challenging, as its primary use case often revolves around speculative investment and community support. However, like other cryptocurrencies, you might earn through trading, where the token’s value could increase over time or by holding it and benefiting from any potential staking rewards, if available.
No, the safety of investing in MAGA (TRUMP) tokens can vary, and it is generally considered high risk due to its speculative nature.
The cryptocurrency market is unpredictable and highly volatile, with a crowded field of tokens competing for attention and investment. This adds further uncertainty to any investment in MAGA tokens.
No. Donald Trump does not own MAGA. MAGA is a cryptocurrency token inspired by Trump’s “Make America Great Again” (MAGA) campaign, but it is not directly affiliated with former US president Donald Trump.
Maybe. The outcome of US elections can influence market sentiment and potentially impact the value of the Trump coin.
However, the extent of this influence depends on various factors, including political developments, economic policies, and broader market trends. Investors should stay informed and adapt their strategies accordingly.
References
- https://www.mexc.com/how-to-buy/TRUMP
- https://magamemecoin.com/donation-archive
- https://projects.fivethirtyeight.com/polls/president-primary-r/2024/national/
- https://finance.yahoo.com/news/trump-meme-coin-nears-500-234215135.html
- https://www.nasdaq.com/articles/donald-trumps-maga-coin-stash-reaches-%241m-scores-15000-return
- https://www.coindesk.com/markets/2024/03/02/trump-maga-meme-coins-are-the-first-experiment-in-polifi/
