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How to Buy Hamster (HAM) in 3 Simple Steps

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Author: Alice Leetham Updated: September 5, 2022

A relatively new coin, Hamster burst onto the scene in the summer of 2021 and quickly became a hit. With the core values of transparency, community, trust and longevity, HAM exists to provide a secure and decentralised meme coin that can be used globally.

Hamster aims to have a lifespan that’s longer than its furry namesake. With attractive tokenomics and an interesting roadmap, this meme token could be here for the long run—read our guide to find out how to buy HAM today.

How to Buy Hamster

If you want to buy HAM, you’ll need to use a decentralised exchange (DEX). We’ve explained the process step by step below.

1. Sign up to a regulated platform to buy BNB

Regulated brokers and exchanges provide the best security for your funds and customer support. See below for our top recommendations of platforms to buy BNB.

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2. Send your BNB to a compatible wallet

You’ll need a wallet compatible with Web 3.0 and you can download one such as MetaMask for free. Then just send your BNB to your wallet address.

3. Connect your wallet to a decentralised exchange

Head over to PancakeSwap, click the “Connect Wallet” button and follow the instructions for your wallet.

4. Swap your BNB for HAM

Click “Trade”, and in the Exchange tab, select BNB for the “From” currency and HAM for the “To” currency. If you can’t see HAM in the dropdown list, paste the contract address from the project website. You can now make your swap!

What is Hamster?

Created on the Binance Smart Chain (BSC) network, Hamster is a decentralised meme token that claims to be more powerful and secure than similar coins on the market. The Hamster team’s vision is to see HAM achieve global adoption.

The coin has developed a strong community and following, and one of the project’s core values is trust, with full transparency on development and security efforts. With this in mind, there was no presale for HAM and no tokens were reserved for the team. The project has also undergone a security audit.

HAM has some unique token economics. Half of the pre-listing supply was locked up for Twitter CEO Jack Dorsey, with plans for it to be burned during specific timeframes. Furthermore, for each transaction, 4% is allocated to the buyback/marketing wallet, 4% is used to drive liquidity pool exchange growth, and 4% is redistributed to holders in BTC.

Should I buy Hamster now?

Whether to buy HAM and when to do so are personal choices, but there are some useful factors to consider when making your decision. The coin’s burn mechanism means its supply decreases over time, putting upward pressure on its price. What’s more, those who hold at least 75 billion HAM receive rewards in Bitcoin — the most popular cryptocurrency — driving further demand for HAM.

HAM has already received its first listing on a minor crypto exchange and the team is pursuing further listings that will bring the coin to a much wider audience, potentially driving up demand and therefore price.

Upcoming developments include the launch of HamsterSwap and an as-yet-unspecified “surprise” in 2022. This has the Hamster community excited, and even celebrities have voiced support for the coin.

Different ways to buy Hamster

Not everyone buys HAM in the same way. Some people like to buy for the long term, while others prefer short-term trading. It’s a matter of personal preference and you can find out about the benefits of each below.

Buy and hold Hamster

Regular buybacks and burns of HAM make it a deflationary asset, which means its value will increase over time if demand can be sustained. This makes HAM an attractive option for the long-term investor.

A further benefit to the classic buy and hold strategy is those holders can earn a passive income. This is paid out to them in Bitcoin, which is also expected to rise in value over time.

Trade Hamster

Those who like a faster pace of living may prefer to trade HAM. Meme tokens can be especially useful for swift returns as prices can change quickly and significantly. Events such as a celebrity endorsement can easily become the catalyst for a sudden surge in price.

Traders also don’t need to buy tokens directly if choose to trade derivatives such as options, futures or contracts for difference (CFDs).

Do I need a wallet?

For derivatives traders, the answer is no as they won’t actually own the tokens. For buyers, on the other hand, their HAM will need to be stored somewhere and some people prefer to set up their own wallet so they have all the custody features they want.

Setting up a wallet

There is a range of wallets available, with different types best suited to different users. Depending on how much HAM you hold and what you plan to do with it, you may opt to set up the wallet that’s most appropriate to you.

  • Web wallets — Although not very secure, web wallets are usually free and easy to use. They can be ideal for those who are holding a small amount of crypto or who want to trade with it regularly.

  • Desktop wallets — As the name suggests, desktop wallets can be downloaded onto your computer. As they’re not connected to the internet, they’re a bit more secure than web wallets and almost as convenient.

  • Mobile wallets — These software wallets are similar to desktop wallets but are downloaded onto your phone. Both desktop and mobile wallets can be useful for those with small holdings who want regular access to their funds.

  • Hardware wallets — Hardware wallets like Ledger, KeepKey or Trezor are the most secure of all but unfortunately also the most expensive. Check that a wallet supports HAM and the Binance Smart Chain before buying it. Long-term holders with sizeable crypto holdings will get the most benefit from hardware wallets.

Frequently Asked Questions

  1. The Hamster team is working on gaining more exchange listings but currently, the most popular place to buy HAM is the BSC-based DEX PancakeSwap.
  2. The Binance Smart Chain, or BSC, is a blockchain built by Binance for running smart contracts and decentralised applications (dApps). It is cheaper to use than Ethereum and HAM is BEP-20 — a token standard native to BSC.
  3. There is no staking required to earn rewards. Simply hold at least 75 billion HAM in your wallet and BTC will be distributed automatically.
  4. It’s impossible to know how long an asset will last, especially meme cryptocurrencies which often only enjoy fleeting popularity. However, longevity is one of Hamster’s core values, which shows that the project is at least planning to be here for the long haul.
  5. A range of different factors can affect HAM price, including fundamental factors like its deflationary supply and the conditions in the wider market. Meme tokens are often more volatile and susceptible to hype, so the most significant influences on the price of HAM will likely be social media and celebrity endorsements.

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