How to Buy Dogwifhat Coin – A Beginner’s Guide for 2024

Recent meme coin price surges have caused a spike in investors looking for the next big thing. Launched in December 2023, dogwifhat (WIF) is one of the newest meme coins in town. It carries a market capitalization of just over $1.6 billion, so there’s plenty of upside available for meme coin investors.

Read on, we explain how to buy dogwifhat coin in under five minutes. We cover the best places to invest alongside the risks and potential rewards to consider.

Step 1: Choose a Crypto Exchange

The first step is assessing where to buy dogwifhat coin. This means selecting an exchange that offers a safe trading experience. It should also offer competitive trading fees and a user-friendly dashboard. What’s more, the exchange should accept your preferred payment method.

Overall, we found that MEXC is the best place to buy dogwifhat coin. It takes minutes to get started with a verified account. You can instantly deposit funds with Visa, MasterCard, and other convenient payment types.

Moreover, MEXC is a safe crypto exchange that offers 0% commissions. We found that MEXC is also one of the best crypto exchanges for buying other popular meme coins. For instance, you can buy Bonk Coin, Myro Coin, Dogecoin, Shiba Inu, and Floki.

Alternatively, several other exchanges list dogwifhat, including:

• Gate.io: A popular crypto exchange supporting the WIF/USDT trading pair. Almost $38 million worth of dogwifhat has been traded in the past 24 hours. Gate.io accepts fiat money payments.
• Kraken: A trusted exchange that was founded in 2011, Kraken offers dogwifhat markets against the US dollar and euro. It charges commissions of 0.26% per slide, and multiple payment types are accepted, including ACH, SEPA, and debit/credit cards.
• Orca: A great option if you want to buy dogwifhat anonymously, Orca is a decentralized exchange on the Solana network. It supports the WIF/SOL trading pair, with 24-hour volumes of almost $1.5 million.

Step 2: Decide Your Investment Budget

Investing the right amount into dogwifhat is crucial. Even the best meme coins are speculative, so there’s no guarantee that your investment will generate a return. On the contrary, if interest in dogwifhat declines, you could get back less than you originally invested.

So, spend some time assessing how much you can realistically afford to lose. Alternatively, you might consider a dollar-cost averaging strategy.

For instance, suppose you’ve got $500 to invest. You could invest $50 per week for the next 10 weeks. You’d slowly build your position and avoid short-term volatility. This is because each dogwifhat purchase will secure a different cost basis.

Still not sure how much WIF to buy? Based on current dogwifhat prices, here are some examples of how many coins you’ll get today.

You’ll see that dogwifhat is still a cheap meme coin. For instance, you’d get 61 coins with a $100 investment.

Step 3: Research Dogwifhat

Never buy dogwifhat coin, or any meme coin for that matter, because of FOMO (fear of missing out). Instead, you should only invest after you’ve conducted adequate research. For a start, you’ll want to check out the dogwifhat website.

Unlike other meme coins, dogwifhat doesn’t make baseless claims about being a “community coin” or an “inclusive project for everyone”. Dogwifhat clearly states that it’s “literally just a dog with a hat.”

This means that dogwifhat has no use cases or utility. Even so, this is the case with most meme coins. In addition, dogwifhat is one of the few new cryptocurrencies that hasn’t created a whitepaper. It’s very clear that it offers no intrinsic value to token holders, so investors should bear this in mind.

Ultimately, investing in dogwifhat is a speculative decision based solely on price action. Therefore, we’d also suggest researching the dogwifhat chart. In doing so, you’ll see that dogwifhat currently has a market capitalization of just over $1.6 billion. While this is a fraction of other leading meme coins, such as Dogecoin, it’s undergone major growth over the past month.

Moreover, CoinMarketCap data shows that dogwifhat was launched on December 19th, 2023, at $0.1742. It hit an all-time high of $1.79 on March 3rd, 2024. This represented a growth of 1027%. Today, dogwifhat is trading at just over $1.60.

Step 4: Open an Exchange Account

Having researched dogwifhat and decided on an investment budget, the next step is to open an exchange account. This is a minimum requirement to buy dogwifhat coin in 2024. Fortunately, most exchanges only require an email address and a password. So it takes seconds to get started.

For the remainder of this walkthrough, we’ll show you how to buy dogwifhat on the MEXC exchange. As we mentioned, MEXC offers a safe and cost-effective way to invest – it doesn’t charge trading commissions.

Visit the MEXC website, click on ‘Sign Up’, and complete the registration form.

Step 5: Choose Payment Method and Deposit Funds

Unless you have another cryptocurrency stored in a private wallet, you’ll need to buy dogwifhat with fiat money. This means using your local currency, such as euros or dollars.

Now, MEXC accepts a wide range of payment methods, including debit/credit cards. However, you can’t use a debit/credit card to directly buy dogwifhat. Instead, you’ll need to buy an established cryptocurrency. You can then exchange the cryptocurrency for dogwifhat on MEXC, without paying any commission.

The best cryptocurrency to buy is USDT,  as MEXC supports the WIF/USDT market. To proceed, click the ‘Debit/Credit Card’ button. Choose your local currency from the drop-down list. Make sure USDT is selected as the receiving currency. Type in the purchase amount, ensuring you meet the minimum deposit.

You’ll now be asked to complete a KYC (Know Your Customer) process. This means providing personal information and a government-issued ID. You can then type in your debit/credit card details and confirm the USDT purchase.

Step 6: Place Your Dogwifhat Order

You’re almost at the final stage. Now you simply need to swap the USDT tokens you just bought for dogwifhat. This should take you under a minute.

Hover the mouse over ‘Spot’. Click on the ‘Spot’ button and search for ‘WIF’. You’ll find the search box to the right of the pricing chart. Click on WIF/USDT when it appears.

The chart should now show dogwifhat’s real-time price. Scroll down below the chart – you’ll see an order box. Click the ‘Market’ button. Move the slider to 100%, like in the image below. Put simply, this means you’ll be using 100% of your USDT balance to buy dogwifhat coin.

To place your order, click ‘Buy WIF’. You opted for a market order, so your investment will be executed almost instantly.

Step 7: Store and Monitor Your Dogwifhat

Click on the ‘Wallet’ button at the top of the page. You’ll now see the dogwifhat coins you just bought. Although MEXC is a trusted exchange, we wouldn’t recommend keeping your dogwifhat there. MEXC is a centralized exchange, meaning it holds the private keys to your coins.

As such, it’s best to withdraw the coins to a private wallet that you control. There are many wallets to choose from, but it must support the Solana network. This is because dogwifhat follows the SOL token standard.

Here are some options to consider:

• Best Wallet – One of the best hot wallets for mobile users, Best Wallet gives you full control of your cryptocurrencies. Security controls include biometrics, two-factor authentication, and passcodes. Best Wallet is free to use and comes as an app for Android and iOS.
• Zengo – Although Zengo offers a premium subscription, its free wallet is more than sufficient. It comes with three-factor authentication and MPC security, ensuring a safe experience. Zengo comes as a mobile app and connects with decentralized applications.
• Trezor – Looking to buy a huge amount of dogwifhat coins? Trezor might be the best option. This is a hardware wallet that offers cold storage – meaning your private keys always remain offline. Trezor prices start from just $59.

What is Dogwifhat Coin?

In simple terms, dogwifhat is a speculative meme coin. For those wondering what are meme cryptos? In a nutshell most meme coins are cryptos that don’t have any use cases. You’ll simply be buying dogwifhat coins to make money. Dogwifhat was launched in December 2023, so it’s one of the newest meme coins to buy. It operates on the Solana network, so joins other SOL meme coins like Bonk and Myro Coin.

On the dogwifhat website, it states that the project is “literally just a dog with a hat”. Even so, dogwifhat is worth several hundred million dollars, as per current prices. This shows that even without any utility, meme coins are still popular with investors.

That said, like most cryptocurrencies, you should expect lots of volatility when investing in dogwifhat. There is no guarantee you’ll make a profit.

Is Dogwifhat Coin a Good Investment?

Independent research is crucial when buying and selling meme coins.

Here’s what to consider before investing in dogwifhat.

• Small Market Cap: First, consider that dogwifhat has a market capitalization of just over $1.6 billion. This offers a great entry point for new investors. Even if dogwifhat increased by 10x from here, it would still be worth less than other popular meme coins like Dogecoin.
• Fast Growth Since Launch: Dogwifhat was launched in mid-December 2023. Those investing from the get-go are now looking at gains of almost 1118%. This outperforms the broader cryptocurrency market.
• Solid Daily Trading Volume: Over the prior 24 hours, more than $362 million worth of dogwifhat has changed hands. This ensures there’s enough liquidity to easily enter and exit the market. This is rarely the case with new cryptocurrencies.
• Available on Leading Exchanges: While dogwifhat has been trading for just over three months, it is already listed on leading exchanges. This includes MEXC, Kraken, KuCoin, and Gate.io. You can also invest using decentralized exchanges like Orca and Raydium.
• Low Token Price: Dogwifhat is currently trading at just over $1.62. This means you can buy a lot of coins without risking too much money. For example, $100 would get you 61 coins. But does this meme token have what it takes to 100x by the end of the year? Read our Dogwifhat price prediction for all the latest market insights.
• Solana Meme Coins: Solana is proving popular with newly launched meme coins. Some of the best Solana meme coins, such as Bonk and Myro Coin, have produced huge gains in the past month. Dogwifhat investors will be aiming for a similar growth trajectory to capitalize on the hype.
• Recent Meme Coin Surge: The past month has seen a huge growth in interest in meme coins, and prices have surged in response. For example, Pepe is up 325% over the past seven days, Dogwifhat 418%, Shiba Inu 128% and Smog up 118%.

Conclusion

While speculative and risky, dogwifhat offers an attractive upside for meme coin investors. After all, dogwifhat is valued at just over $1.6 billion – a fraction of other leading meme coins but catching up quickly.

The best place to buy dogwifhat coin is MEXC. In addition to 0% commissions, MEXC accepts debit/credit cards. It also offers plenty of liquidity and a safe trading experience.

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