How To Buy Hamster Coin - A Beginner’s Guide
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Hamster Coin (HAM) is a project based on BSC, or the Binance Smart Chain. Self-described as a “decentralised meme-token” in its whitepaper, Hamster is similar to projects like Dogecoin and Shiba Inu. Like other meme tokens, it features a huge supply with an astounding ten-quadrillion coins available. If you’re interested in finding out more about how to buy Hamster Coin, read our guide about the latest meme coin below.
From the Hamster Coin whitepaper: “The purpose of Hamster Token is to be a token that can be used globally with a vision to see Hamster Token on all exchange platforms. Hamster Token firstly has been successfully listed on CoinGecko & CoinMarketCap. The Hamster Token team, we are continuously & endlessly negotiating with Exchange platforms and other business partners.”
Hamster Coin’s origin story is amusing to the extreme. Apparently, the concept was inspired by a pet hamster in Germany that makes trading predictions on live stream platform Twitch.
Our Quick Tutorial to Buy Hamster with your Favourite Payment Method
There are multiple online platforms to buy Hamster in a secure and easy way. We’ve chosen the top place so you can start right away and get HAM in just a few minutes, regardless of your experience level. Please follow our step-by-step guide below.
Step 1: Sign-Up
The first step consists in creating a free account with our recommended platform. Visit the website by clicking the button below and start with your basic information to sign up. Depending on your location and local regulations, you might need to verify your identify.
Step 2: Make your First Deposit
Once your account is set up, you can go to "Deposit" and follow the instructions to fund your account with your payment method of choice . Enter the amount you want to deposit (beginners normally start with lower amounts), follow the steps and check your new account balance.
Step 3: Buy Hamster!
Your account is all set and you'll be able to trade any of the available cryptocurrencies on the platform. Select an order type to buy HAM (a market order will be fulfilled instantly). Check your dashboard for your opened positions and available crypto funds!
How to Buy Hamster With an Decentralised Exchange
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Connect your wallet of choice (MetaMask, for example) to PancakeSwap
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Make sure your wallet has BNB (Binance Coin) in order to make the swap
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Once you’re connected to PancakeSwap, click on ‘Trade Now’ and ‘Select Currency.”
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At this point, you’ll need to ender the HAM contract address: 0x679d5b2d94f454c950d683d159b87aa8eae37c9e
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Follow the instructions and prompts to import HAM
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Input how much BNB you’d like to swap for HAM
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Click ‘confirm’ swap, make sure you can cover any fees, and you’re done!
Should You Buy or Trade Hamster?
If you’re willing to take a gamble on a project with over ten quadrillion tokens, Hamster might be worth the investment. But keep in mind the Hamster isn’t necessarily based on any serious tech fundamentals, despite its recent price increases. It might be worth a small investment for a laugh, but price volatility can be unpredictable with projects like Hamster Coin, so invest thoughtfully.
That said, the crypto community has taken a liking to Hamster Coin. This might be due to its unofficial connection with viral internet sensation Mr. Goxx, the crypto trading hamster mentioned earlier. After spinning on his hamster wheel, Mr. Goxx settles down to rest in either his ‘buy’ or ‘sell’ bed. According to an interview with the BBC, the owners claim Mr. Goxx’s decisions have created a 20% profit increase for their portfolio.
So while Hamster Coin isn’t affiliated with Mr. Goxx, it’s clear the community likes the idea of cryptocurrency hamsters. As long as Mr. Goxx continues to draw a crowd and make strong trades, his success could translate into further gains for Hamster Coin.
What Are the Pros and Cons of Buying Hamster?
Pros:
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You can buy enormous amounts of coins for a relatively small investment
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Twitter CEO Jack Dorsey has referenced the project on Twitter, leading some to assume he supports HAM.
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Strong community support and gaining popularity as a ‘meme-token.’
Cons:
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The project lacks technical fundamentals
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Whitepaper contains some typos, indicating a lack of professionalism
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Ten trillion token supply means serious price gain or return on investment is unlikely. Crypto ‘whales’ who own large amounts of HAM could easily tank the price.
3 Tips to Buy Hamster
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Make sure you’re familiar with how decentralised exchanges work and feel comfortable integrating your wallet with PancakeSwap.
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While Hamster is a fun project, it may be wise to be cautious with your investment as similar projects have experienced price volatility.
- Carefully browse through the company’s website, whitepaper, and social media presence before making your decision to invest.
Frequently Asked Questions
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