According to some analysts, the “meme coin supercycle” is coming, and one of the tokens expected to witness a massive price rally is Dogwifhat (WIF). Are you interested in investing in this Solana-based meme coin? If so, read this guide to understand the buying process.
Dogwifhat Explained
Dogwifhat is a popular meme coin whose profile picture features a Shiba Inu dog with a pink woolen toboggan. Like the creators of many other meme coins, WIF’s developer is anonymous.
Dogwifhat entered the market in November 2023. It grew in popularity two months into its launch after well-known exchanges like Binance and KuCoin listed it. Furthermore, prominent personalities, including Hsaka, Arthur Hayes, and Raoul Pal, began talking about the meme coin on X, boosting its visibility among crypto users.
In March 2024, the WIF community ran a fundraising campaign to have the meme coin displayed on the Vegas sphere. That month, Dogwifhat saw its market cap skyrocket to $3.42 billion, according to data from CoinGecko.
Where to Buy Dogwifhat
Several trusted exchanges have listed WIF as of October 2024. They include:
Uphold
Available in over 180 countries, Uphold supports multiple payment methods to ensure all users conveniently fund their accounts regardless of their location. When buying WIF on this exchange, you will be charged a 0.25% trading fee.
Binance
As mentioned, Binance was among the first exchanges to list Dogwifhat. Many crypto traders prefer this platform due to its deep liquidity, which enables quick transactions. As of October 2024, Binance serves users in more than 100 countries. Moreover, its fee structure is relatively reasonable, given that WIF transactions attract only a 0.1% fee.
With a presence in nearly 195 countries, Kraken has become traders’ top choice due to its advanced trading tools and considerably cheap fees (0.15%). Besides WIF, the exchange lists 235 other cryptocurrencies, allowing users to diversify their portfolios.
It is important to mention that Kraken is unavailable in some US states due to regulatory restrictions. So, if you are in the US, confirm that the exchange serves your region before starting the signup process.
KuCoin
Like Binance, KuCoin charges a 0.1% on WIF transactions. The exchange welcomes crypto users from 204 countries, including the United States. What makes KuCoin popular among traders is its advanced security protocols that ensure the safety of user funds.
Gate.io
Many choose Gate.io due to its debit card offering, which enables them to make retail purchases using their crypto balances. Yes! With Gate.io, you can use your WIF balance to pay for shopping at various online stores.
How to Buy WIF
Buying the Dogwifhat meme coin on an exchange is straightforward. To do so, follow these steps:
Select an Exchange
While several exchanges list WIF, not all are ideal for you. For example, if you want to buy Dogwifhat at a low transaction cost, it would be wise to pick Binance rather than Kraken.
Create an Account
Before buying WIF, you must create an account and verify it by completing the Know Your Customer procedure. For this guide, we’ll use Binance. To register a Binance account, you are required to provide a phone number and email address. For identity verification, upload a government-issued ID.
Fund Your Account
Once the exchange has verified your account, deposit funds to buy WIF. You can fund your account with USDT from an external source or purchase the stablecoin using any of the available payment methods.
Buy WIF
Use your USDT balance to buy WIF in the spot market. To do this, look for the WIF/USDT trading pair and place a “Buy Order.” The purchased meme coin will be deposited into your account once the order has been processed.
Where to Store Dogwifhat
While centralized exchanges offer a convenient way to purchase WIF, they are not ideal for storing tokens since holders lack total control. Therefore, transferring your WIF to a non-custodial wallet is advisable. Recommended wallets include Phantom, Trust Wallet, and Gem Wallet.
