I see lots of articles and tweets about meme coins. Are they safe to buy?
Meme coins are a bit iffy, you can never be sure if they are going to get the attention they need. Some of them might end up doing well in the end like pepe, and bonk. But meme coins are considered to be the some of the most unstable coins in the most unstable market.
But the gains look so crazy, like 100% and 1000%!
Yeah - real safe to buy. It is just when you want to sell, most of them are worth nothing. The term is rug pulling. More than 90% of newly issued memes will be pulled within days or hours. There are tools to check relative safety of memes, but take them with a pinch of salt. I have been trading memes for 2 months. I’m not rich yet. 
1 Like
I think they are risky and volatile.
they are not safe at all but does it worth buying them? yes, with a small portion of your funds. right now I have almost $100 of meme coins, I hope it jumps x10 or more but even if it hits 0 I wouldn’t mind so much! you should do relatively the same, I believe.
With meme coins you can never be sure, can add a bunch of zeros to your money in a short time, or can remove a bunch from it 
. That is why it’s suggested to go small on a bundle of mem coins. Diversifying your meme coin investments is a good idea to manage the big risk that comes with them.
I mean all crypto is risky. All forex is risky. All trading is risky at some level.
Yea I hear that a lot. Since they don’t really do anything.
1 Like
I’ve got a decent position in dogwifhat $WIF. Highly volatile but increasingly so on the upside. If you can time your exists correctly, and not get too greedy, meme coins can be lucrative.
With the caveat that all your money could instantly go to near zero if you’re engaging in low liquidity, low market cap shitcoins, which most meme coins start out as.
Honestly, I think there are no " safe to buy " coins anywhere in that market. But you can just put small amounts into buying multiple meme coins, it’s slightly less risky this way and more chance for a miracle to happen .
2 Likes
It can be a wild ride! I’ve heard a lot about some of them too and was actually thinking of buying a small amount just to see what happens
I have not too much information about them but the are not reliable, I guess.
So basically a lottery ticket. Yea, that’s a lot of risk!
1 Like
Memes will always have their place. They’re easy to understand. Doge and Shiba are in the top 10/11 of all cryptos by market cap. You won’t see 1000% moves, but they’re as trustworthy as the next.
If you’re looking for exciting gains, it will require exceptional risk. Following Crypto Twitter can get you exposed to the next kid on the block, as well as using tools that @mondeoman mentioned.
Actually, I’m half-tempted to dive in, but also half-afraid I’ll just end up losing all my money 
Yeah very risky, but small amount investments are worth it if you ask me.
1 Like
The reason I chose to trade in SOL network based alt coins (meme coins specifically) is due to the relatively very low total cost of buy/sell. Some of these are in the region of a few cents to get into and out of a trade, and if you manage to trade when volume is favourable, this can be far less than any gain/loss the trade may involve. The most severe cases I test (to build my profit/loss business case) are investments of less than $2, most of them are around the $10 mark, and (for one longer term scenario only) some are up to $50. You can get a lot of very cheap education trading for $2 a trade. Even if you are low risk and decide you will not risk more than 1% of your portfolio on any one trade, you can start with a $200 portfolio. Think about how much people spend on lottery tickets every month. Or every time you want to have a Costa or Starbucks coffee, just drink a glass of tap water, and “invest” the coffee money. You may not be rich quickly, but you are more likely to be less poor more quickly.
2 Likes
Oh, that’s an interesting insight 
It’s really funny how I don’t think twice about spending on coffee but hesitate when it comes to investing a similar amount. Turning those expenses into trading experiments is actually a great way to learn without risking too much. Appreciate the tip
1 Like
Hi,
I used to mentor people on personal money management. It was something I did for people I worked with, not a paid role. After all, who am I to talk about personal money management? I have no formal qualifications in anything to do with finance, but from the ripe old age of 16 I figured that if all those “financial advisors” were so clever, why were they not investing their own money, and wasting their time in a job (which stands for just over broke) trying to tell other people what they should do with their money? The best person by far to tell you what to do with your own money is YOU and nobody else. Having said that, I have used a system of budgeting for the past 35 years that has managed to keep us away from the poor house all that time. And it does include a periodic review of mandatory, discretionary, savings (for investment), charitable and taxation contributions as a percentage of total income (that also includes investment income).
BONK and PEPE are up like 43% and 32% in the last week. Like what?!?
There’s another one called ERC20 up 400% in the last 7 days. Who is buying this stuff??