How and Where to Buy Degenerator Meme (MEME) – Detailed Guide
- What is MEME?
- Step 1: Register on Fiat-to-Crypto Exchange
- Step 2: Buy USDT with fiat money
- Step 3: Transfer USDT to an Altcoin Exchange
- Step 4: Deposit USDT to exchange
- Step 5: Trade MEME
- Last Step: Store MEME securely in hardware wallets
- Other useful tools for trading MEME
- Frequently Asked Questions
- Latest News for MEME
- MEME Price Prediction and Price Movement
What is MEME?
What Is Meme (MEME)?
MEME is the native token to the exclusive digital art NFT platform DontBuyMEME. The platform hosts digital artists from around the world and offers its community a chance at minting NFTs by staking their MEME tokens. In return for staking, users earn redemption credits known as pineapples that are used to mint the NFT of their choice. MEME can also be used to bid on art auctions through the platform.
About DontBuyMEME
DontBuyMEME started as a grassroots, community led project that quickly grew in popularity at the end of DeFi Summer ’20. MEME was the catalyst for a renaissance in digital art, largely in part from the enthusiastic community that formed around the project, educating participants in the crypto space about NFTs. The project continues to thrive today by curating world renowned artists and cultivating rising stars on the platform every week.
Who Are the Founders of Meme?
The indirect creator of MEME is Jordan Lyall, product lead for DeFi at Consensys. Lyall created what he called the Degenerator, a joke tool for launching new DeFi projects in minutes.
After posting his work, which poked fun at the ease at which DeFi tokens accrue value based on often dubious premises, the Degenerator itself ended up with its own token from another developer.
Since its launch in mid-August, MEME has grown to hit highs of $1,700 per token. Lyall himself has publicly warned prospective investors via the media not to buy the coin, given that its status was a joke and there was no underlying value proposition.
What Makes Meme Unique?
Perhaps MEME’s most recognizable unique feature is its lack of utility — it exists purely for investors to perform classic DeFi activities, and there is no project behind it to give it innate worth.
As with any meme, however, its popularity has become viral and interaction has therefore only increased. Intrinsic value, as such, is not a genuine consideration for investors.
The appeal of such a satirical project is likely heightened for DeFi investors who have grown used to earning passive income from tokens via yield farming and liquidity mining, regardless of what the tokens themselves are used for.
As such, MEME does not exist to turn a profit for its creator based on anything other than its own existence, and could disintegrate at any moment based purely on traders’ whims.
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How Many Meme (MEME) Coins Are There in Circulation?
MEME has a fixed supply of 28,000 tokens, all of which are in circulation. This small supply is what has contributed to its relatively high market cap and token price, which as of September 2020 have peaked at $47.6 million and $1,700 respectively.
Little information is available about the future or any plans regarding the token, but given its status, it is likely that these also are secondary considerations for all parties involved.
For the meantime, activities beyond financial include earning collectible MEME cards for token holders, notionally unique as part of MEME’s status as a non-fungible token (NFT).
How Is the Meme Network Secured?
MEME presents the same basic risks to transacting parties as any smart contract-based platform. Locking up funds in smart contracts, particularly when a project is unaudited, implies an inherent risk of loss or theft.
Mostly, however, security is not as big a risk as the nature of MEME itself, as it lacks a real-world use case beyond satire.
Where Can You Buy Meme (MEME)?
The main trading source for MEME is automated market maker (AMM) Uniswap’s Wrapped Ether (WETH) pair.
Other venues include fellow AMM Balancer, as well as traditional exchanges such as Poloniex and Hotbit.
Interested in knowing how to buy Bitcoin (BTC) or any other cryptocurrency? Get all the details here.
MEME was first tradable on 16th Aug, 2020. It has a total supply of 28,000. As of right now MEME has a market capitalization of USD $2,541,257.16. The current price of MEME is $90.76 and is ranked 1149 on Coinmarketcap and has recently surged 38.53 percent at the time of writing.
MEME has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying USDT from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy MEME.
Step 1: Register on Fiat-to-Crypto Exchange
You will have to first buy one of the major cryptocurrencies, in this case, USDT (USDT). In this article we will walk you through in details two of the most commonly-used fiat-to-crypto exchanges, Uphold.com and Coinbase. Both exchanges have their own fee policies and other features that we will go through in detail. It is recommended that you try both of them and figure out the one that suits you best.
Select Fiat-to-Crypto Exchange for details:
- UpHold
Being one of the most popular and convenient fiat-to-crypto exchanges, UpHold has the following advantages:
- Easy to buy and trade among multiple assets, more than 50 and still adding
- Currently more than 7M users worldwide
- You can apply for UpHold Debit card where you can spend the crypto assets on your account like a normal debit card! (US only but will be in the UK later)
- Easy to use mobile app where you can withdraw fund to a bank or any other altcoin exchanges easily
- No hidden fees and any other account fees
- There are limited buy/sell orders for more advanced users
- You can easily set up recurring deposits for Dollar Cost Averaging (DCA) if you intend to hold cryptos long term
- USDT, which is one of the most popular USD-backed stablecoins (basically a crypto that is backed by real fiat money so they are less volatile and can be treated almost as the fiat money it's pegged with) is available, this is more convenient if the altcoin you intend to buy has only USDT trading pairs on the altcoin exchange so you don't have to go through another currency conversion while you buy the altcoin.
Type your email and click 'Next'. Make sure you provide your real name as UpHold will need it for account and identity verification. Choose a strong password so that your account isn't vulnerable to hackers.
You will receive a confirmation email. Open it and click on the link within. You will then be required to provide a valid mobile number to set up two-factor authentication (2FA), it is an extra layer to the security of your account and it is highly recommended that you keep this feature turned on.
Follow the next step to finish your identity verification. These steps are a bit daunting especially when you are waiting to buy an asset but just like any other financial institutions, UpHold is regulated in most countries such as the US, the UK and the EU. You can take this as a trade-off to using a trusted platform to make your first crypto purchase. Good news is that the whole so-called Know-Your-Customers (KYC) process is now fully automated and it shouldn't take more than 15 minutes to finish.
Step 2: Buy USDT with fiat money
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You may be charged higher fees depending on your credit card company and the volatile prices when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence, some countries will offer instant cash deposit with low fees.
Now you are all set, on the 'Transact' screen under the 'From' field, select your fiat currency, and then on the 'To' field choose USDT, click preview to review your transaction and the click confirm if everything looks good... and congrats! You've just made your first crypto purchase.
Step 3: Transfer USDT to an Altcoin Exchange
But we are not done yet, since MEME is an altcoin we need to transfer our USDT to an exchange that MEME can be traded. Below is a list of exchanges that offers to trade MEME in various market pairs, head to their websites and register for an account.
Once finished you will then need to deposit USDT to the exchange from UpHold. After the deposit is confirmed you may then purchase MEME from the exchange view.
Last Step: Store MEME securely in hardware wallets
Ledger Nano S
- Easy to set up and friendly interface
- Can be used on desktops and laptops
- Lightweight and Portable
- Support most blockchains and wide range of (ERC-20/BEP-20) tokens
- Multiple languages available
- Built by a well-established company found in 2014 with great chip security
- Affordable price
Ledger Nano X
- More powerful secure element chip (ST33) than Ledger Nano S
- Can be used on desktop or laptop, or even smartphone and tablet through Bluetooth integration
- Lightweight and Portable with built-in rechargeable battery
- Larger screen
- More storage space than Ledger Nano S
- Support most blockchains and wide range of (ERC-20/BEP-20) tokens
- Multiple languages available
- Built by a well-established company found in 2014 with great chip security
- Affordable price
If you are planning to keep("hodl" as some may say, basically misspelt "hold" which get popularised over time) your MEME for a considerable long time, you may want to explore ways of keeping it safe, although Binance is one of the safest cryptocurrency exchange there had been hacking incidents and funds were lost. Because of the very nature of the wallets in exchanges, they will be always online("Hot Wallets" as we call them), therefore exposing certain aspects of vulnerabilities. The safest way of storing your coins to date is always putting them into a type of "Cold Wallets", where the wallet will only have access to the blockchain(or simply "go online") when you send out funds, reducing the chances of hacking incidents. A paper wallet is a type of free cold wallet, it's basically an offline-generated pair of public and private address and you will have it written somewhere, and keep it safe. However, it is not durable and is susceptible to various hazards.
Hardware wallet here is definitely a better option of cold wallets. They are usually USB-enabled devices that store the key information of your wallet in a more durable way. They are built with military-level security and their firmware are constantly maintained by their manufacturers and thus extremely safe. Ledger Nano S and Ledger Nano X and are the most popular options in this category, these wallets cost around $50 to $100 depending on the features they are offering. If you are holding your assets these wallets are a good investment in our opinion.
Frequently Asked Questions
Can I buy MEME with cash?
There is no direct way to buy MEME with cash. However, you can use marketplaces such as LocalBitcoins to first purchase USDT, and finish the rest of the steps by transferring your USDT to respective AltCoin exchanges.
LocalBitcoins is a peer-to-peer Bitcoin exchange. It is a marketplace where users can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You can choose to buy from sellers from a certain nearby region on the platform. is after all a good place to go to buy Bitcoins when you can't find your desired payment methods anywhere else. But prices are usually higher on this platform and you have to do your due diligence to avoid getting scammed.
Are there any quick ways to buy MEME in Europe?
Yes, in fact, Europe is one of the easiest places to buy cryptos in general. There are even online banks which you can simply open an account and transfer money to exchanges such as Coinbase and Uphold.
Are there any alternative platforms to buy MEME or Bitcoin with credit cards?
Yes. is also a very easy to use platform for buying Bitcoin with credit cards. It is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with a bank card. Its user interface is very easy to use and the buying steps are pretty self-explanatory.
Read more on Degenerator Meme's fundamentals and current price here.
Latest News for MEME
