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Trading DEFI meme tokens, do you know how?

  • 30-11-2021 9:39pm
    #1
    Stonks_Trader
    Registered Users, Registered Users 2 Posts: 8 ✭


    Hello everybody, this is my first time posting on one of these message type sites, I usually steer clear of such things but I couldn't help myself. As a trader of all things altcoins for quite some time a constant question I get asked by friends and family is how to get into defi(buying meme coins) trading?

    I am curious to know how many people who trade cryptos actually trade on defi or even know how to trade on defi? It has life-changing potential and I am mystified as to why more people aren't doing it.

    Would be great to hear how the Irish community feels about defi and meme coin potential/

    Kindest regards,

    ST.



Comments

  • #2
    el diablo
    Registered Users, Registered Users 2 Posts: 5,767 ✭✭✭el diablo


    Yep, I've been playing around with DEFI for a while now on platforms such as Uniswap, 1 Inch, Pancake Swap etc. Not so much for the meme tokens though and mostly for small cap alts that are not available on the CEFI exchanges. A lot of it is pretty much unusable for the small trader now due to the ridiculous ETH gas fees. I'm starting to experiment with some of the layer 2 stuff such as Arbitrum, Optimism etc where the fees are quite a bit lower (still have to pay the high ETH fees for onboarding these protocols though).

    Orange pilled.



  • #3
    Irish_rat
    Registered Users, Registered Users 2 Posts: 2,568 ✭✭✭Irish_rat


    It's not that hard to get into defi, it's another thing making profit in it. You definitely need to be in crypto a while before breaking into this area.

    Download metamask, setup the custom rpc and move the network token from exchange to metamask address. (Not rocket science)

    ETH is for millionaires. The popular cheap dex is BSC but also worth looking at: AVAX, FTM, ONE, SOLANO.



  • #4
    ScissorPaperRock
    Registered Users, Registered Users 2 Posts: 2,708 ✭✭✭ScissorPaperRock


    Some nice returns and cheap transactions in defi on Harmony, Fantom and Elrond networks right now.



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