A Beginner’s Guide: How To Buy Meme Coins In Canada In 2024

When it comes to crypto trading, the first come to mind is usually Bitcoin, Ethereum or other major cryptocurrencies. However, in the evolving crypto landscape, meme coins, a subcategory of cryptocurrencies with deep roots in the world of memes and internet comedy, are gaining growing popularity with its humorous image and huge return potential. Usually, meme coins tend to rise when the whole market is unstable. Under such a positive backdrop, many Canadians pays greater attention in meme coins.

Following Trump’s victory in US election in November 2024, the cryptocurrency market was abuzz with bullish sentiment, and investor excitement reached fever pitch. Bitcoin (BTC) responded rapidly, recording a ATH of over $93K. Amid such a bull run development, meme coin sector also benefits a lot, with most meme coins witnessing massive price rally.

Amid much-anticipated bull run sentiment, however, for novice Canadian traders, it may be a overwhelming task to start a trading journey. In this article, we will list a complete guidance for beginners about how to buy meme coins in Canada, thus helping newcomers to set a good start in crypto trading journey and get a maximum return.

What are Meme Coins?

Before introducing the detailed guidance about buying meme coins in Canada, we would like to introduce what meme coins are. Meme coins are a subcategory of cryptocurrencies with deep roots in the world of memes and internet comedy. This kind of coins are usually named after characters, individuals, animals, artwork, or anything else that can be mimicked.

The valuation of conventional cryptocurrencies, such as Bitcoin and Ethereum, is frequently contingent upon technological advancements or or the underlying blockchain network. In contrast, meme coins primarily from their virality and social media presence. Despite their unconventional origins, meme coins have demonstrated the capacity to attain substantial market capitalizations. Their widespread appeal and subsequent investment interest are often swayed by influential individuals or social media trends, resulting in highly volatile price fluctuations.

Overall, meme Coins are usually featured by volatility, community-driven and potential for high risks and reward. Although meme coins may be entertaining to some, they also belong to highly risky investments as they hold little or no intrinsic value. Currently, the most well-known meme coins usually include Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE) and Dogwifhat (WIF).

BTCC support trading for a variety of popular meme coin (including PEPE, DOGE, SHIB, WIF, etc.) with a leverage of up 500Χ. If you are interested in trading meme coins, please sign up for BTCC to make a purchase.

How Do Meme Coins Work?

Meme coins work similarly to other cryptocurrencies in that they leverage blockchain technology to foster a decentralized and secure transactional landscape, eliminating the need for a central governing authority. Traders can engage in buying, holding, or exchanging meme coins across various cryptocurrency exchanges, where their value is predominantly dictated by the dynamics of supply and demand.

Their distinctiveness stems from their ability to rally fans around niche topics or amusing content, frequently igniting viral marketing campaigns that bolster their popularity. Many meme coins also use smart contracts on platforms like Ethereum to enable additional functions such as staking or access to special community rewards. Despite their often humorous origin, trading meme coins requires a comprehensive grasp of cryptocurrency market trends and adept risk management strategies, as they are known for their high volatility.

Should I Buy Meme Coins?

As a beginner, you must have a question “should I buy meme coins” before making trading decision. Before answering the question, you should know the Pros and Cons of trading meme coins, then decide whether to buy this kind of coins based on your financial situation and investment preference.

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Pros and Cons of Investing in Meme Coins

As for the advantages and disadvantages of buying meme coins, we list a detail list for you.

How to Buy Meme Coins : A Complete Guidance for Beginners in 2024

After the detail introduction about meme coin trading, we believe you must have a full understanding about it. If you are still very interested in this kind of trading, we will take a closer look at all the steps involved in your crypto trading journey.

Step One: Select a Meme Coin You Want to Buy

As there are more and more meme coins emerged on crypto market, the most important step is to determine which coin you’re going to buy. At the beginning, you may be confused among all kinds of meme coin. To solve this dilemma, we suggest you to make thorough research and compare meme coins from the following metrics:

• Market cap & trading volume: a coin’s market cap and trading volume can reflect whether it’s a popular investment among other traders. Coins with high market caps and trading volumes are often (but not always) considered to be higher-value investments than less popular coins.
• Long-term performance: like all investment products, although past performance not guarantee future success, coins with a long history of good performance are less likely to be flat-out scams or pump-and-dump schemes.
• Market analysis: with the rapid development of crypto, many experts keep close look at the emerging industry and conduct profound research. You can refer experts’ analysis and price prediction when making a selection.
• Utility: Meme coins usually lack utility beyond community engagement and speculative trading. Selecting a meme coin with real utility can great reduce investment risks.

Step Two: Open a Crypto Exchange Account

Once you decide the meme coin that you want to buy, what you need to do now is open a crypto exchange account. As you can’t simply buy crypto using your bank account, the easiest way is open an account on a crypto exchange.

Nowadays, due to the fast development of crypto market, more and more crypto exchanges emerged. As a beginner, it sometimes may be confusing to select a best crypto exchange among several exchanges with similar features. When compare and select exchange, we advise you to make comparison from the following major metrics:

• Security: Despite huge potential of high return and rewards, cryptocurrency trading comes with a certain level of risk due to various factors, such as high volatility associated with cryptocurrencies, the lack of regulation, cybersecurity risks, hacking incidents, etc. Thus, whether you are a newcomer or an advanced trader, security must be in your top priority
• Fee: Even though it is much likely that you may get huge return from crypto tradings, you return might be significantly reduced you choose a crypto exchange with high trading costs and all kinds of hiden fees. Therefore, it is much necessary for you to evaluate how much commission you provide to your crypto exchange when you buy and sell crypto.
• Selection of supported cryptocurrencies: The third point that traders need to think about is whether the exchange can offer a large range of cryptocurrencies for your selection. In Canada, some exchanges only offer very limited cryptocurrencies for trade, which greatly hits your trading selection and service experience.
• Interface: In terms of interface, it is also an important point traders need to attach great importance to, especially for newcomers.  A intuitive interface usually means simpler and more convenient trading procedures, and better trading experience. For beginners, a user-friendly interface can greatly reduce their time cost for learning.
• Customer service: Last but not least, whether an exchange can offer satisfying customer service is also important. When traders are confused or meet emergency, timely customer service is much needed. In Canada, some exchanges enjoy good reputation in customer service as they provide all kinds of service methods like 24/7 Live Chat support.

Step Three: Fund Your Account

After you find the best exchange for your demand and open an account on it, the next step is to fund it with fiat currency so that you can buy meme coin. Please keep in mind that some exchanges have deposit fees and limitations for certain kinds of payment methods.

There are different deposit methods available on cryto exchange and different method may charge different fee. Therefore, before fund you account, please know the fee charge rules of the exchange you select.

Step Four: Choose the Meme Coin to Trade

The most important step comes.

• Go to the official homepage or app of the exchange you choose, log into your account
• Navigate to the trading terminal where you can buy and sell crypto
• Select the meme coin you want to buy (e.g., PEPE or DOGE)
• Choose the contract trading order type(usually including market orders, limit orders and SL/TP Order)

Market Order: users place orders at the best price in the current market to achieve fast trading.
Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.

• Adjust the leverage multiple
• Enter your total purchase amount
• Review your order and any applicable fees
• Confirm your payment method
• Press the buy button to finalize your transaction

Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.

Step Five: Store or Use Your Meme Coin at the Crypto Exchange

Once you confirm your transaction, the meme coin that you bought should be available in your account within a few minutes. Then you have successfully bought your first meme coin, which just means that you have set a good start in your meme coin trading journey.

Now that you own this kind of digital asset, you need to find a way to safely store them. Most exchanges provide what we call a “hosted hot wallet” for free with your account, meaning that your coins are held by the exchange in an online storage system.

BTCC support trading for a variety of popular meme coin (including PEPE, DOGE, SHIB, WIF, etc.) with a leverage of up 500Χ. If you are interested in trading meme coins, please sign up for BTCC to make a purchase.

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Where to Trade Meme Coin in Canada?

If you want to trade meme coin  in Canada, you can easily start by creating an account with BTCC, one of the longest-running crypto exchanges in the world. As a old exchange enjoying good reputation, BTCC is more reliable.

BTCC is among the best and safest platforms to buy meme coin. The reasons why we introduce BTCC for you summarize as below:

Industry-leading security

BTCC attaches great importance on security. Since founded in 2011, BTCC has never been hacked or been a victim of any other kind of successful malicious attack, which fully illustrates its security capabilities. Through measures like segregation of assets, 1:1 storage of users’ assets, money laundering prevention and identity authentication and no collateralising tokens for loans, BTCC enjoys good reputation in asset security.

High liquidity & volume

BTCC is ranked top 10 by trading volume on both CoinMarketCap and CoinGecko, the world’s two largest crypto information platforms. BTCC prides itself on providing crypto futures trading services to users worldwide with market-leading liquidity, offering perpetual futures on over 300 cryptocurrencies, including BTC, ETH, DOGE, LTC, SOL, XRP, SHIB, etc.

Extremely low fees

Charging high fees means less return for investors. Compared with other major exchanges, BTCC only charges 0.06% for both takers and makers, which are far below the industry average. According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is 0.2294% and the maker fee is 0.1854%.

High and rich bonus

BTCC holds all kinds of campaigns where investors can participate to win exciting bonus. For example, new users can get rewards up to 10,055 USDT coupon through completing relevant missions, like registration, identity verification, first deposits, cumulative futures trading volume, etc. Besides, becoming VIP also can enjoy rewards like VIP-exclusive perks, including discounts on trading fees, access to exclusive campaigns, BTCC merch, priority customer support, fast withdrawal, and many more.

Excellent customer service

BTCC also gains great reputation in terms of customer support. If you are confused or have problem in the process of trading currencies, you can obtain customer support via email and live chat, BTCC offers 24/7 online customer service for you.

Want know more about BTCC, please read related article: BTCC Exchange Review 2024

Best Meme Coins for Canadians to Buy in 2024

After introducing the basic guidance for Canadians to buy meme coins, we will introduces some best meme coins to beginners for reference.

Dogecoin (DOGE)

Cryptocurrency	Dogecoin
Token	DOGE
Price	$ 0.3782 -3.25%
Rank	7
Market Cap	$ 55.5B
24H Trading Volume	$ 16.1B
All-time High	$ 0.7386
All-time Low	$ 0.0001
24 High	$ 0.3950
24 Low	$ 0.3665
Cycle High	$ 0.4357 / 2024-11-12 09:00:00
Cycle Low	$ 0.0497 / 2022-06-18 20:55:00
Update Time	2024-11-21 01:24:01

Originated in 2013, Dogecoin (DOGE) is the first and most well-known meme coin in the cryptocurrency market. Dogecoin was created by two programmers, Palmer and Markus, based on the Litecoin codebase. It was inspired by a Shiba Inu dog meme that were popular on the Internet at the time, and this interesting origin laid the foundation for its subsequent development. Dogecoin is a typical meme coin whose value is based entirely on the love and recognition of the community.

As a meme coin, Dogecoin has attracted a lot of attention for its unique charm and the story behind it. Since its inception as a parody project in 2013, Dogecoin has become an integral part of the crypto ecosystem. Its playful approach has garnered millions of supporters, including celebrity endorsements from Elon Musk, Snoop Dogg, and many others. Despite its volatile price and many challenges, Dogecoin still has some growth potential and market prospects. Taking all factors into consideration, we list Dogecoin (DOGE) as a good investment option for Canadians.

The following sets forth the DOGE to USD Chart

Dogecoin Chart

DOGE USDT-margined perpetual futures contracts with a leverage of up to 500x are available on BTCC platform. If you are interested, click the button below to enter DOGE trading page⇓

Pepe (PEPE)

Cryptocurrency	Pepe Coin
Token	PEPE
Price	$ 0.000018794196 -4.56%
Rank	19
Market Cap	$ 7.9B
24H Trading Volume	$ 2.4B
All-time High	$ 0.000025454900
All-time Low	$ 0.000000000011
24 High	$ 0.000020569284
24 Low	$ 0.000018402598
Cycle High	$ 0.000019184300 / 2024-11-20 21:17:31
Cycle Low	$ 0.000018377400 / 2024-11-20 20:07:12
Update Time	2024-11-21 07:05:32

Pepe (PEPE) is a meme coin developed as a tribute to “Pepe the Frog” internet meme. PEPE works as an ERC token built on the Ethereum blockchain. Since launched in April 2023, PEPE has rapidly gone viral. Although the official website of Pepe Coin states that PEPE is a meme coin with no intrinsic value or expectation of financial return, it has still successfully won the hearts of the vast number of coin traders on the social media platform and built a loyal community that is full of expectations for the future of this meme coin.

Considering the current state of Pepe (PEPE) and its potential as an investment, there are huge attraction for investors to explore this meme cryptocurrency. Despite the recent price decline, most investors are still quite optimistic about this meme coin, believing there is huge potential for its price rally.

The following sets forth the PEPE to USD Chart

Pepe Chart

PEPE USDT-margined perpetual futures contracts with a leverage of up to 50x are available on BTCC platform. If you are interested, click the button below to enter PEPE trading page⇓

Shiba Inu (SHIB)

Cryptocurrency	Shiba Inu
Token	SHIB
Price	$ 0.000023932579 -3.52%
Rank	12
Market Cap	$ 14.1B
24H Trading Volume	$ 861.8M
All-time High	$ 0.000088190200
All-time Low	$ 0.000000000056
24 High	$ 0.000024741316
24 Low	$ 0.000023498291
Cycle High	$ 0.000045007800 / 2024-03-05 02:10:00
Cycle Low	$ 0.000005820900 / 2023-06-10 04:35:00
Update Time	2024-11-21 02:42:15

Created in August 2020 by an anonymous person or group using the pseudonym “Ryoshi”, Shiba Inu (SHIB) is a decentralized cryptocurrency. It is inspired by the Shiba Inu, a Japanese dog breed, which also serves as the mascot for Dogecoin, another cryptocurrency with meme origins. SHIB is an Ethereum-based ERC-20 token. Since launch, Shiba Inu has gained huge popularity and success, which is mainly due to the large cryptocurrency community of SHIB supporters, the so-called ShibArmy, and online influencers that help pump the price.

From the perspective of ecological application, SHIB is a relatively rich and potentially valuable meme coin, as it has its own Layer-2, and has developed many products including ShibSwap, Shiboshis, Shib Yard, Bury, Shiba Eternity, and so on. Besides, as the size of market cap can directly reflect the merits and demerits of the project, the market cap of SHIB is relatively high, ranking 14th in the world, second only to Dogecoin in the meme coin. It can be seen that the fundamentals of SHIB are still relatively good, so SHIB can be a good investment option for Canadians.

The following sets forth the SHIB to USD Chart

Shiba Inu Chart

SHIB USDT-margined perpetual futures contracts with a leverage of up to 50x are available on BTCC platform. If you are interested, click the button below to enter SHIB trading page⇓

Brett (BRETT)

Cryptocurrency	Brett
Token	BRETT
Price	$ 0.1602 -4.60%
Rank	61
Market Cap	$ 1.6B
24H Trading Volume	$ 248.2M
All-time High	$ 0.1948
All-time Low	$ 0.0009
24 High	$ 0.1801
24 Low	$ 0.1538
Cycle High	$ 0.1617 / 2024-11-21 05:05:46
Cycle Low	$ 0.1533 / 2024-11-21 02:43:08
Update Time	2024-11-21 09:47:01

Launched in February 2024, Brett (BRETT) is a meme coin on the Base network, and its mascot is a character in Matt Furie’s Boys’ Club comic, who was a dancer and loved video games. BRETT rapidly received a lot of attention and support from the crypto community after its launch. With the fast growth of the community of supporters and believers, $BRETT’s market capitalization soon surpassed $300 million.

Apart from its profound cultural implications, BRETT serves practical purposes within the Base ecosystem. As a native token, BRETT facilitates transactions, incentivizes participation, and fosters community engagement. Through its utilization, users gain access to a diverse array of features and functionalities offered by the Base platform, thereby amplifying its utility and value proposition within the broader cryptocurrency landscape.

Brett is an explosive meme coin that’s already delivered a 140x gain in 2024 and looks set to generate even more profits for traders. According to $BRETT price prediction, it suggests this meme coin can deliver a significant price gain by the end of the year, with larger gains ahead in 2025 and beyond. Taking all factors into consideration, we list Brett (BRETT) as a good investment option for Canadians.

BRETT USDT-margined perpetual futures contracts with a leverage of up to 50x are available on BTCC platform. If you are interested, click the button below to enter BRETT trading page⇓

Popcat (POPCAT)

Cryptocurrency	Popcat
Token	POPCAT
Price	$ 1.5120 -13.90%
Rank	63
Market Cap	$ 1.5B
24H Trading Volume	$ 577.1M
All-time High	$ 2.0785
All-time Low	$ 0.0041
24 High	$ 1.7077
24 Low	$ 1.4394
Cycle High	$ 1.5693 / 2024-11-21 07:46:44
Cycle Low	$ 1.4394 / 2024-11-21 02:34:56
Update Time	2024-11-21 09:34:01

Popcat (SOL) is a cat-themed meme coin project inspired by a viral internet meme featuring a domestic short-haired cat named Oatmeal. Based on Solana, Popcat (POPCAT) was born from the viral internet sensation: the Popcat meme. The Solana blockchain has witnessed the rise of its Popcat, boasting over 64,000 holders. This cryptocurrency project has drawn significant attention, boasting a market capitalization of approximately $552 million and maintaining a locked liquidity exceeding 10 million.

Mimicking the success of other meme coins, such as Pepe coin, POPCAT aimed to harness the existing community, while introducing a new layer of engagement. Besides, on August 23, leading global crypto exchange Binance announced that it has expanded its trading portfolio by listing futures contracts for Popcat (SOL) (POPCAT). The Binance listing of the USD-Margined Popcat perpetual contract has significantly boosted trading options on Binance Futures, enhancing the exposure and accessibility of POPCAT. Taking all factors into consideration, we list Popcat (SOL) (POPCAT) as a good investment option for Canadians.

The following sets forth the POPCAT to USD Chart

Popcat (SOL) Chart

POPCAT USDT-margined perpetual futures contracts with a leverage of up to 50x are available on BTCC platform. If you are interested, click the button below to enter POPCAT trading page⇓

Conclusion

That is all the information and guidance about trading meme coins. As crypto markets are volatile and unpredictable, as a beginner, we suggest you to closely monitor all factors that affect related market dynamics, like demand, supply, sentiment, government regulation, etc. Traders are advised to stay well-informed and cautious before making any investment choice.

About BTCC

BTCC, one of the longest-running exchanges in the world, supports crypto copy trading, spot trading, as well as futures trading for 300+ cryptocurrencies with a leverage ranging from 1Χ to 500Χ.  If you want to trade cryptocurrency, you can start by signing up for BTCC.

BTCC is among the best and safest platforms to trade cryptos in the world. The reasons why we introduce BTCC for you summarize as below:

• Industry-leading security
• High Liquidity & Volume
• Extremely low fees
• High and rich bonus
• Excellent customer service

BTCC Exchange FAQs

Is BTCC Legit?

With a long operation history of 13 years, BTCC boasts an impressive user base and a stellar track record. As one of the oldest exchange around the world, BTCC puts a strong emphasis on conducting business in various countries and regions under the premise of lawfulness and compliance. Currently, BTCC has obtained regulatory licences in a variety of countries.

Specially, BTCC received a crypto licence issued by the Financial Crimes Enforcement Network (FinCEN) in the USA, a crypto licence issued by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). In 2022, BTCC also received a cryptocurrency licence from the Registrar of Legal Entities of Lithuania, enabling the platform to offer crypto trading services in Lithuania and other European countries.

Can Canadian Investors Buy Cryptos on BTCC?

Of course, BTCC is legit in Canada as it has already received a crypto licence issued by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Canadian traders can log in BTCC to trade cryptos with highest security level and most competitive fee.

How To Open a BTCC Account?

Opening an account on BTCC is quite easy.

Firstly, you need to click the “register” button on the right corner of BTCC homepage.

Then, you can create an account using an Email ID or Mobile Number.

How to Trade Crypto Futures on BTCC?

BTCC offers Perpetual Futures contracts with a leverage of up to 500×, you can buy over 300 cryptocurrencies on BTCC at the most competitive price and highest security.

The following sets forth the guidance for trading futures on cryptocurrency exchange BTCC:

Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.

Step Two: go back to the BTCC official homepage, choose “Deposite”, and then fund your account with your preferred method (fiat deposit, crypto deposit or convert).

Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find the crypto trading pair.

Step Four: choose the contract trading order type. Futures contract orders on BTCC platform are divided into market orders, limit orders and SL/TP orders.

• Market Order: users place orders at the best price in the current market to achieve fast trading.
• Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
• SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.

Step Five: adjust the leverage multiple.

Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.

Step Six: choose the lot size and set the SL/TP price .

Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.

Step Eight: click the buy or sell button, and the crypto futures contract order is completed.

Is BTCC the Best Exchange Option for You?

If you put your trading priorities on leading cryptocurrencies like Bitcoin, probably BTCC is the best exchange choice for you. Besides, BTCC also support trading for a variety of popular meme coin (including PEPE, DOGE, SHIB, WIF, etc.) with a leverage ranging 1Χ to 225Χ. If you are interested in trading meme coins, BTCC is also a top choice for you. Furthermore, BTCC offers a very friendly platform for all categories of traders: both experienced and beginners.

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