Dogwifhat (WIF) is a dog-themed meme cryptocurrency launched in December 2023 on the Solana blockchain.
Within just 4 months, the token has attained a market capitalization of over $1.63 billion due to its popularity among the meme token community.
This article is a guide on buying one of the hottest meme cryptocurrencies on the market. So without further ado, let us get started.
How To Buy Dogwifhat Coin?
You can buy the WIF token by following the steps below:
1. Choose a crypto exchange
The first and most important step is to assess where you can buy Dogwifhat (WIF) coins from. This involves selecting the right exchange that offers you a safe and secure trading experience. It should also have competitive trading fees and a user-friendly interface.
Moreover, the platform should accept your preferred payment method.
Here are a few exchanges where you can trade WIF tokens:
- MEXC
MEXC is considered the best crypto exchange to buy WIF. The platform offers 0% commission fees and also supports other meme cryptocurrency tokens.
- Gate.io
Gate.io supports the WIF/USDT trading pair and also accepts fiat money payments when purchasing the token.
- Kraken
Kraken offers Dogwifhat in the EUR and USD trading pairs while charging a commission of 0.26% per transaction type, including ACH, SEPA, and debit/credit cards.
- Orca
Orca is a decentralized exchange on the Solana blockchain. It supports the WIF/SOL trading pair and is a great option for the tokens if you want to buy them anonymously.
2. Learn About Dogwifhat
Whether it be WIF or any other meme cryptocurrency in the market, you must conduct adequate research before deciding to invest in the project. Refrain from buying the token just because of fear of missing out (FOMO).
Despite Dogwifhat’s creators claiming that the token is community-driven, it has no real use case or utility on the market. This is also the case with most meme coins. Additionally, WIF is also one of the very few cryptocurrencies that have no whitepaper. It is clear as day that WIF offers no intrinsic value to holders.
Therefore, be careful if you are planning to invest in the token.
3. Create an account on the supported crypto exchange
Once you have researched your preferred crypto exchange and decided on how much you want to invest in WIF, the next logical step is to open an exchange account. All users need to provide their email address and government-issued ID to get verified.
4. Choose a payment method and deposit funds into your trading account
Unless the supported trading tokens are stored in your exchange account or private wallet, you will need to buy Dogwifhat by transferring fiat money. This means using EUR or USD.
Some exchanges support buying cryptocurrencies using a variety of payment methods, such as bank transfers and debit or credit cards. However, credit or debit cards can’t be used to directly purchase WIF. Stablecoins like USDT or SOL can be bought and used to buy Dogwifhat.
5. Place your Dogwifhat order
If you have USDT in your account, simply swap it for WIF tokens and get the amount equivalent to the fiat currency. When purchasing WIF, make sure it is done through the ‘Spot’ market.
6. Move your WIF to a private wallet
Once you have bought Dogwifhat on your preferred exchange, it is time to move the tokens to a private wallet. Since centralized exchanges hold the private keys to your accounts, you have no control over the tokens stored in them.
Therefore, it is recommended that you withdraw your WIF balance to a wallet that you have control over. Since Dogwifhat is a Solana-based token, it is recommended that you go with a wallet based on the blockchain. This is also because WIF has a SOL token standard.
Here are a few private wallets that you choose from to hold your WIF token on:
