The crypto world is expanding every day, attracting more and more people. Avid crypto enthusiasts have already adapted to the culture and laws that govern the market, but for a beginner, crypto looks like a parallel universe. With big players like Bitcoin, at least something is clear: buy cheap, hold, sell expensive. There’s a complete mess with the trendy memecoins. To help you figure out what’s what and how you can start making money on memecoins in 2024 – 2025, we wrote this article.
Essential crypto tools for successful memecoin trading
1. Analytics Tools
To trade something, you first need to know about its existence, and even better, understand its key data, which will allow you to assess the likelihood of a successful potential purchase/sale. For such an assessment, many crypto analytics tools provide detailed information about memecoins: their age, links to their socials, liquidity, market cap, price fluctuations, trading volumes, number of holders, etc.
Canonically, these tools are presented in the form of websites (like DEX Screener, GmGn.Ai), but now there are also Telegram bots that provide such data. Often these bots position themselves as Sniper bots, but you can also buy and sell tokens directly through them.
2. Safety Checkers
Unfortunately, when trading memecoins, you need to not only assess the potential success of the transaction but also eliminate risks. There are quite a lot of scams in crypto, as a result of which you can be robbed or simply promised something that will never happen. To protect themselves, crypto enthusiasts use so-called Rug Checkers. These tools analyze the data of the token and highlight certain red flags that are worth paying attention to. Again, there are web rug checkers, and there are Telegram bots. Often, the rug check function is included in a more extensive token analysis, and such a tool belongs to the Token Scanners category.
3. Trading Crypto Tools
After a thorough analysis, you can start trading. As mentioned above, you can trade using the same analytics tools that you used at the beginning. There are probably more tools for trading than in any other category. In the crypto tools catalog, you can find them all by filtering the results by chain.
4. Crypto Wallets
Of course, you will need a tool such as a crypto wallet. If you trade through a Telegram bot, it will create a wallet for you, but you will still need another one for depositing/withdrawing funds. Fortunately, there are also quite a lot of wallets now, there are options for all popular blockchains, and some of them work on several networks at once, for example, the well-known Phantom wallet.
5. Social Networks and Messengers
We mentioned Telegram several times – this probably means that it is also a tool necessary for trading memecoins in 2024-2025. As, in fact, X (former Twitter), where usually all memecoins, crypto tools, and even the blockchains themselves are promoted. In addition, crypto projects often start a community in Discord, where you can also learn valuable information, ask questions to developers, and communicate with other traders.
Conclusion
In principle, it is enough to have one crypto tool from each category to start trading memecoins. However, in some cases, it is worth getting several at once to collect different opinions, this is especially true for rug checkers. Trading Telegram bots have different commissions, so you can find the one that takes the lowest, or the one that is the fastest, depending on your priorities. And yes, basically all these tools do not require payment in advance, but take a small percentage of your transactions, which makes starting trading even easier.
Despite this simplicity, always be careful, check the social networks of tools and memecoins, and collect reviews on them. Set aside an amount of money that you don’t mind spending on experimenting with memecoins, and don’t go beyond it until you gain experience in this matter. Have a good time making money on memecoins!