How to Buy Snek: A Beginner’s Guide

If you’re wondering how to buy SNEK token, you’re not alone. SNEK has been gaining traction as one of the standout meme coins on the Cardano blockchain, and it’s no surprise that more people are curious about joining the fun. But how exactly do you get your hands on it, and can you buy it on popular exchanges like Bybit, Binance, and Kraken? That’s what I’m here to help you figure out.

Buying a token like SNEK might seem tricky at first, especially since it’s only available on certain exchanges. But don’t worry—there are straightforward steps you can follow to add SNEK to your crypto wallet.

In this guide, I’ll cover not just how to buy SNEK token but also some essential background on its blockchain, community, and what makes it a buzzworthy addition to the meme coin landscape. Whether you’re a seasoned investor or just curious about Cardano’s meme coin scene, you’re in the right place. Let’s dive in!

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How to Buy Snek on Snek’s Website?

SNEK is one of the meme coin projects that lets you buy their token directly from the website. The trading functionality is provided by DexHunter, a Cardano-based DEX aggregator that collects liquidity from various platforms to provide users with the best possible prices for their trades.

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That said, the process is relatively simple, but if you’re still wondering how to buy SNEK coin from its website, follow this step-by-step guide:

Step 1: Most platforms only support buying or trading SNEK using ADA, so I recommend buying some from your preferred exchange. In this example, I’m using Binance.

Step 2: Log in to your Binance account and go to the “Buy Crypto” page to buy ADA directly using fiat. Alternatively, you can use the exchange’s spot trading platform to trade for ADA.

Step 3: On the “Buy Crypto” page, look for "ADA" from the drop-down menu and enter the amount you wish to buy.

Step 4: Choose your preferred payment method.

Step 5: Click “Buy ADA” and wait for your coins to appear on your balance.

Step 6: One thing worth noting when learning how to buy SNEK meme coins from its website is that it only supports limited wallet options, including Nami and Typhon. Generate a deposit address using one of these wallets.

Step 7: Transfer your ADA from Binance to your preferred wallet by going to “Assets > Overview > Withdraw”.

Step 8: Choose “ADA” from the drop-down menu, enter the deposit address you generated earlier, and choose the correct network for the transfer. After that, enter the amount of ADA you wish to send.

Step 9: Click “Withdraw” and verify the transaction using 2FA. Wait until the funds turn up in your destination wallet.

Step 10: Go to snek.com and click “Get SNEK”.

Step 11: Connect your wallet and enter the amount of SNEK you wish to buy. After that, click “Buy”.

While the process of buying SNEK from its website is fairly easy, the limited wallet options might discourage some people from choosing this method. So, if you want to know how to buy SNEK crypto more easily, make sure to continue reading this guide!

How to Buy Snek on Minswap?

Currently, the best place to learn how to buy Snek meme coin is on Cardano-based platforms, and Minswap is one of them. Minswap is a decentralized exchange (DEX) established in 2022. While it only supports less than 100 coins, the platform includes ADA/SNEK trading pairs among 246 other options.

At the time of writing this article, the 24-hour trading volume for the SNEK token on Minswap is around $1.4 million. Now that you know how the SNEK token performs on the platform, let’s see how to buy SNEK coin on Minswap:

Step 1: Go to the Minswap website and click “Connect Wallet”. Minswap supports a variety of wallets, including Ledger, MetaMask, and WalletConnect.

Step 2: Look for “SNEK” on the search bar, then click on the result. This will bring you to the detailed page of the token.

Step 3: On the right side of the price chart, you can buy SNEK token directly using ADA. Enter the amount you wish to buy.

Step 4: Check the transaction details, then click the “BUY” button. Wait until your SNEK tokens turn up in your wallet.

Alternatively, you can trade SNEK coin using more advanced order types. This allows you to potentially get more tokens depending on price fluctuation. Follow these steps on how to buy SNEK crypto using the Minswap trading platform:

Step 1: On the SNEK coin page, click the “Trade” button. This will bring you to the SNEK/ADA trading page.

Step 2: Choose your preferred order type. Minswap offers several options, including limit, stop-limit, OCO, and partial-fill. In this example, I’m choosing limit order.

Step 3: Enter the amount of ADA you wish to spend or SNEK you want to get.

Step 4: Set the limit price for your trade. You can enter a custom price or choose from the predefined templates.

Step 5: You can manually select the route for your transaction. However, I recommend leaving this as is since Minswap will automatically choose the best one for you based on liquidity and volume.

Step 6: Check your transaction details and then click “Trade”.

Step 7: Wait until your order is fulfilled.

Minswap offers an intuitive interface suitable for beginner and intermediate traders. For example, you can switch between the “Basic” or “Pro” price chart depending on how detailed you want the information to be. Minswap also offers competitive fees, making it a good option if you’re wondering how to buy SNEK crypto without high trading fees.

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How to Buy Snek on VyFinance?

Another good platform if you’re wondering how to buy SNEK coin using a DEX is VyFinance. As a Cardano-based exchange, it offers a range of features like a decentralized exchange, yield farming, governance, and a token vault.

The platform offers multiple trading pairs for SNEK, including ADA/SNEK and VYFI/SNEK. That being said, here is a step-by-step guide on how to buy SNEK meme coin using VyFinance’s DEX:

Step 1: Visit the VyFinance website and connect your crypto wallet.

Step 2: Scroll down and search for “SNEK” on the “Search Pools” bar.

Step 3: Choose your preferred pool (e.g., ADA/SNEK) and click “Trade”.

Step 4: Enter the amount of ADA you wish to spend or SNEK you want to get.

Step 5: Check the transaction details, then click “Trade”.

Keep in mind that the token is not divisible. This means that it doesn’t have decimals and the amount of SNEK you’ll get will be rounded down to the nearest whole number.

How to Buy Snek on Bitget?

At this point, I’ve covered how to buy SNEK crypto on multiple DEX platforms. But what about centralized exchanges? Unfortunately, if you want to learn how to buy SNEK on Binance, Bybit, or any other popular exchanges, you’ll have to wait until the token is listed there since it's not currently supported.

The good news is, you can buy SNEK on a centralized exchange like Bitget. It is a reputable crypto exchange founded in 2018 that offers various essential and advanced trading features like spot, futures, and copy trading.

Bitget also lets you buy crypto directly using fiat, which is one of the main pros of using a centralized exchange. Now that we know enough about the platform, let's take a look at the step-by-step guide on how to buy SNEK crypto on the platform.

Step 1: Log in to your Bitget account and go to “Trade > Spot”.

Step 2: Click on the trading pair dropdown menu and search for “SNEK”. Choose “SNEK/USDT”.

Step 3: Under the spot tab, select select “Buy” and choose your preferred order type. For example, select “Market” to buy SNEK at the best market price.

Step 4: Enter the amount of USDT to spend or SNEK to buy.

Step 5: Check the transaction details, then click “Buy”.

Step 6: Wait until your order is fulfilled.

One thing worth noting about Bitget is that it is not available in certain countries, including the US, UK, and Canada. So, if you live in one of those countries, you may need to look for other options.

The Best Wallets to Store Snek Token

After learning about how to buy SNEK meme coin and the best places to do so, it is time to examine which wallet you should use to store the tokens. But some of you might wonder if you can purchase the asset, for instance, on Trust Wallet or MetaMask. Unfortunately, you can't buy this meme token directly from those platforms, at least for now.

In most cases, you’ll want to use wallets that support native Cardano tokens when buying SNEK. These include platforms like Eternl, Nami, and Yoroi. What about hardware wallets? The good news is that you can install these wallets on your Ledger devices. Let's take a look at how you can connect your Ledger Cardano account to Eternl:

Step 1: Download the Eternl extension into your browser.

Step 2: Open the extension and select "Add Wallet".

Step 3: Select "Pair > Ledger" then click "Next". You may get a warning message saying that Eternl is not compatible with your Ledger device. But don't worry, Eternl is compatible with all Ledger devices, including the Ledger Flex.

Step 4: Select the number of Cardano accounts you wish to create, then click "Save".

Step 5: Connect your Ledger to your computer and unlock it using your PIN.

Step 6: On your Ledger, select the Cardano ADA app and open it. Your Ledger device should display: "Cardano is ready".

Step 7: Back to Eternl, select "Next > Save". Once your Ledger Cardano account and ADA balance appear, that means you're done.

After you learn how to buy SNEK crypto, storing them in a hardware wallet can give you many benefits. A hardware wallet offers enhanced security by storing your cryptocurrency offline, protecting it from hacks and online threats. So, if you want to secure your crypto assets further, Ledger can be one of the best crypto wallet solutions for you.

What is the Snek Token?

SNEK is a meme token launched in 2023. It is one of the first meme tokens created on the Cardano blockchain. At the time of writing this article, SNEK’s market cap has reached $339M, making it the largest meme coin in the Cardano ecosystem by market capitalization.

The digital asset is easily recognized by its quirky snake icon, which gives it a playful and memorable identity. Honestly, I couldn’t track down the exact reason why the team chose a snake as their mascot, but it feels like a perfect fit for a meme coin—fun, bold, and a little mysterious. Using animals as symbols is a common trend in the meme coin space, and SNEK joins the ranks of tokens like Dogecoin with its Shiba Inu or PEPE with its iconic frog.

In addition, it even has its own comprehensive branding guide that incorporates this snake character. You can find the document on SNEK's official website. There, you can find various design guidelines if you want to make any sort of SNEK-related marketing media. This shows how it is similar to many meme tokens, relies on its community to market the project.

And like most meme coins, the SNEK token has no intrinsic value or expectation of financial return. The project also has no formal team or roadmap, as they claim that it is for entertainment purposes only.

SNEK Tokenomics

Examining a token wouldn’t be complete without looking at its tokenomics. In case you don’t know, tokenomics is a description of how crypto tokens are used within the blockchain ecosystem^[1]. Usually, this covers information like the number of tokens issued and how they are distributed.

What about SNEK? The total supply is 76,715,880,000 tokens. They claim to have a fair launch by dedicating 0% of this supply to the coin creators. Let’s take a look at the detailed distribution of the SNEK token:

• 50% for presale holders – The presale was open to the public with no prior qualifications. This was based on a snapshot of funds sent and airdropped via a third-party distribution service. The SNEK early contributors did not benefit at all from this sale.
• 40% for initial liquidity – Allocated towards initial liquidity distribution. This is being used in SundaeSwap and Minswap. LP tokens are being stored in a multi-sig wallet for safety.
• 2% for marketing – Used for marketing promotions, community airdrops, contests, events, further giveaways, and incentives for the promotion of SNEK.
• 5% for utility – Used towards the SNEK ecosystem, DeFi applications, partnerships, and project developments.
• 3% for reserve – Reserved for exchange listings, additional liquidity, and expansion opportunities.

I have to say, SNEK’s tokenomics feels surprisingly well-thought-out for a meme coin. What really stands out to me is that a portion of the supply is set aside specifically to improve the project. That’s not something you see with every meme coin, and it gives off the impression that SNEK’s team is thinking beyond just the hype.

However, as with any crypto investment, there is a lot more to it than just looking at the tokenomics.

Snek's Burn Wallet

While learning how to buy SNEK meme coin, you also need to know that the project implements a burning mechanism. This is a process of reducing assets spread across the market to control availability, making tokens more valuable, and preventing injustice for new investors^[2]. At the time of writing this guide, there were more than 1 million SNEK coins burned through this method.

SNEK's burning mechanism is provided by pool.pm, a Cardano blockchain explorer designed for real-time visualization of the network. Token holders can access this burn wallet by visiting SNEK's official website and clicking the "Burn" button.

Since it is a deflationary meme coin, I think this burning mechanism plays a crucial role in maintaining its long-term value and appeal. By gradually reducing the circulating supply, it creates scarcity, which can drive demand and potentially increase the token’s price over time.

The Cardano Blockchain Network

Understanding the underlying blockchain technology is important before you learn how to buy Snek. Cardano is the foundation of this token, and this choice of blockchain brings some unique benefits and context to the project. Known for its focus on security, scalability, and sustainability, Cardano is a blockchain that takes itself seriously.

It's designed as a third-generation blockchain, aiming to address the limitations of earlier versions like Bitcoin and Ethereum. Cardano's main goal is to be interoperable with other blockchains, allowing for seamless communication and asset transfer between different networks.

Another thing worth mentioning is its smart contract platform called Cardano Script. This platform enables developers to build decentralized applications (dApps) with a focus on security and scalability.

The Cardano ecosystem has also started to carve out its own space for meme tokens. While it’s not as advanced as blockchains like Ethereum or Binance Smart Chain, it’s growing. Tokens like HOSKY, a dog-themed meme coin, and BANK, another community-driven digital asset, have already gained traction, showcasing how meme culture is thriving in the Cardano community.

For SNEK, being built on this specific blockchain, means benefiting from its lower transaction fees, environmentally friendly proof-of-stake consensus, and robust community support. Plus, Cardano’s dedication to quality and long-term vision adds a layer of credibility that meme coins on other chains might lack.

Snek’s Other Projects

Besides launching a meme token, SNEK also has several running key projects ranging from a token launch platform to energy drink products. Let’s take a look at the brief explanation for each project:

• Snek.fun – A meme coin launchpad built on the Cardano blockchain developed by the team behind SNEK.
• SNEKbot – A telegram trading bot developed by DexHunter in collaboration with the SNEK team designed to automate the trade of any native token on Cardano.
• Snekx – A platform that enables users to create or mint Cardano tokens in seconds.

• Memes – A dedicated page compiling the SNEK-related memes.
• Last Snek Standing – A staking program for SNEK token holders.
• Snek Ecosystem Fund – A capital initiative by the team behind snek.com aiming to empower and accelerate startups and projects building on the Cardano blockchain, with a special focus on enhancing the Snek ecosystem.
• Snek Energy – A separate company inspired by the SNEK token and community focuses on selling energy drinks.

If you’re interested in learning how to buy SNEK meme coin, knowing about these additional projects may give you a broader understanding of the SNEK ecosystem and potentially more opportunities to participate in the community.

Understanding Meme Coins

Meme coins are a quirky and often unpredictable part of the crypto landscape. Unlike traditional cryptocurrencies like Bitcoin or Ethereum, which aim to solve real-world problems or provide technological innovation, meme coins often start with a memorable idea, without any plans to offer investors a utility^[3].

Basically, they emerge as a result of internet culture, jokes, or trends. They thrive on community-driven hype and social media buzz, making them more about fun and shared enthusiasm than a groundbreaking utility.

The history of meme coins traces back to 2013 when Dogecoin launched as a lighthearted alternative to Bitcoin, inspired by the Shiba Inu “Doge” meme. What started as a joke quickly snowballed into a global phenomenon, proving that even the silliest ideas can capture attention in the crypto space.

Today, meme coins have grown into a legitimate niche, appealing to investors who want to ride the waves of internet culture while trying their luck in the market.

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Examples of Popular Meme Coins

Several meme coins have gained massive popularity over the years. Dogecoin remains the poster child of meme coins, especially after receiving public endorsements from figures like Elon Musk. Its community-driven ethos inspired a whole generation of similar tokens.

Another example is Shiba Inu (SHIB), which took the meme coin concept further by building an entire ecosystem with features like staking, decentralized exchanges, and even a metaverse project.

That said, on the Cardano blockchain, meme coins are carving out their own identity. Tokens like HOSKY and SNEK are great examples.

Pros

• Very low trading fees
• Exceptional functionality
• Mobile trading app

Main Features

• Very competitive trading fees
• An intuitive mobile app
• Up to 100x leverage available

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Pros

• A very well-known crypto exchange platform
• More than 500 different cryptos available
• Two-factor authentication

Main Features

• Over 500 different cryptocurrencies available
• Strong security
• Small withdrawal fees

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

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Precautions Before Engaging with Meme Coins

While meme coins can be exciting and sometimes even lucrative, they’re not without risks. As I mentioned earlier, their value often relies heavily on hype, community enthusiasm, and market trends rather than tangible use cases. This volatility can result in significant price swings, so it’s essential to approach them cautiously.

Before you jump into the meme coin world—do your research. Understand the project’s tokenomics, the team behind it (if they’re public), and its community engagement. Be wary of campaigns with no clear purpose or ones that seem to rely solely on speculative trading.

It’s also a good idea to invest only what you can afford to lose. Meme coins are highly speculative, and while some have made fortunes, others have seen their money vanish. Diversifying your portfolio can help manage risk, ensuring you’re not overly reliant on one token or trend.

Meme coin culture is undeniably a fascinating part of crypto. Whether you’re diving into it for fun, curiosity, or potential profit, understanding the risks and doing your due diligence will make the experience much more rewarding. So, if you’re curious about how to buy SNEK token, take your time, explore its community, and make an informed decision!

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Conclusions

Wrapping up, buying SNEK might feel like a new experience, especially if you’re used to trading on major exchanges like Bybit, Binance, or Kraken. While SNEK isn’t listed on those platforms yet, that doesn’t mean it’s out of reach. Following the steps I’ve outlined, you can navigate Cardano-based platforms and add this quirky meme coin to your portfolio with ease.

Learning how to buy SNEK isn’t just about acquiring a token. It’s about understanding its roots and the ecosystem it thrives in. With Cardano as its underlying blockchain, SNEK benefits from low transaction fees, strong community support, and a growing space for meme tokens like HOSKY and others. It’s a fresh take on what meme coins can bring to the table, combining humor with Cardano’s trusted technology.

If you’re waiting for the day you can learn how to buy SNEK on Binance or other major exchanges, keep an eye on updates from the SNEK community. Until then, the process may involve a bit more effort, but the journey is part of the fun. Make sure to do your research, manage risks wisely, and, most importantly, enjoy being part of this unique community. Happy trading!

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Ito K.: Cryptoeconomics and Tokenomics as Economics: A Survey with Opinions;

2. Ardiansyah R., Khajar I.: Effect of Cryptocurrency Marketplace Incentive Distribution with Burning Token Method on Halal Crypto Exchange Token Value;

3. Stencel A.: What is a Meme Coin? Dogecoin to the Moon!