Steps
- Get a wallet. Phantom, Solflare and others, see the wallets page. Back up your recovery phrase offline and never share it.
- Buy SOL. See how to buy SOL in Phantom.
- Choose where to trade. A launchpad such as pump.fun, a trading terminal or a Telegram bot. Compare fees there: many charge around 1% per trade.
- Set slippage and fees. Too tight a slippage fails, too loose loses value. Read what slippage is.
- Check before you buy. Look at holder concentration, dev holding, bundles and whether the mint and freeze authorities are revoked, see the rug checkers page.
- Start small. Keep SOL for fees on top of the trade amount.
Know the risks
Read what a memecoin is and what a rug pull is. Most new coins lose nearly all their value. Selling later can be taxable, see the tax tools page.
