Getting started
Do I need a crypto wallet to buy memecoins?
Yes, though it may not feel like it. Memecoins only exist onchain and can only be bought by a wallet signing a transaction, so a wallet is always in the path. The only question is whether you hold the keys or an app holds them for you, and consumer apps that ask for no seed phrase are doing the second thing.
Why there is no third option
A memecoin is not listed anywhere central. It exists as a balance on a blockchain, tradeable against a liquidity pool, and the only thing that can move it is a signature from a private key. Any product that lets you buy one is either handing you a wallet or operating one on your behalf.
The two routes
- Self-custody. A browser extension, a mobile wallet or an embedded wallet. You can trade anywhere, and mistakes are final.
- App-managed. The app holds the keys. Simpler to start, and you can only do what the app allows, for as long as it allows it.
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