Buy Samoyedcoin – How-to Guide for Beginners
Dog-themed crypto Samoyedcoin (SAMO), the meme ambassador for the popular blockchain Solana, has recently spiked 90% in just 3 weeks – You must be thinking about how to buy it? Let’s start it.
Below we show investors where to buy SAMO coins with low fees. We review the pros and cons of this token as an investment. And, in light of recent concerns about the security of the Solana blockchain on which SAMO is minted, we also review a key alternative — meme coin TAMA which offers utility too, as the centerpiece of the play-to-earn/NFT ‘Tamaverse’. Should investors leave sleeping dog SAMO to lie and go with hot new Tamadoge (TAMA)? Read on to find it out.
Quick Steps to Buy Samoyedcoin (SAMO)
- Createan account with LBank – Visit the LBank website and sign up.
- Conductverification – Supply some ID to get verified with LBank’s KYC procedures.
- Make a deposit – Many deposit methods are available to fund an account.
- FindSamoyedcoin – Search for Samoyedcoin easily by searching under its symbol, SAMO.
- Purchase Samoyedcoin – Invest in the Solana blockchain’s meme ambassador with LBank, or check out 120+ other crypto.
Where Can I Buy Samoyedcoin (SAMO)?
Figuring out how to buy Samoyedcoin comes down to where investors can actually trade it.
Samoyedcoin is rumored to be listed soon on giant exchange Binance. In the meantime, we review one of the best Binance alternatives, LBank. Here investors can buy Samoyedcoin as well as enjoy a low fee structure similar to that of Binance.
LBank – Best Crypto Platform to Buy Samoyedcoin
Based in Hong Kong, China, LBank was founded in 2015. With 4.8 million users, LBank offers 120+ crypto and 180 trading pairs. This exchange serves 200 countries, but investors should be aware that fiat deposits are only available in USD and Chinese Yuan.
With LBank, investors can buy crypto directly or trade crypto for crypto on the main exchange. When buying directly, investors can buy Bitcoin with a credit card or bank transfer, as well as other selected crypto. Or they can browse LBank’s peer-to-peer platform and pay for crypto in a variety of methods.
For advanced traders, LBank offers leveraged crypto ETFs and perpetual futures. The exchange also features its own API for compatibility with software-based trading and offers some key charting indicators such as CCI, RSI and MACD.
When it comes to being one of the best crypto staking platforms – which means lending out crypto in return for financial interest – LBank has both flexible and locked options. SAMO is not a staking option, but investors can get an annual percentage yield of over 4% on Bitcoin, for example, and 6%+ on some stablecoins.
Apart from its exotic range of crypto, what makes LBank one of the best altcoin exchanges is its low maker/taker fee structure. Whether a ‘maker’ or a ‘taker’ of liquidity on the exchange, investors are charged just a 0.1% transaction fee. Note that, as with all exchanges, a spread fee applies. This maker/taker fee applies only to buying crypto on the main exchange. (Different fees apply to buying crypto directly from LBank with a credit card or bank transfer).
Withdrawal fees vary by crypto with LBank. The fee to withdraw SAMO to a crypto wallet is 100 SAMO.
As well as SAMO, investors can buy LBLOCK on LBank. This hot new crypto rocketed 250% in value on LBank at the end of July 2022. LBLOCK is the native token of the exciting global NFT competition platform Lucky Block, where investors can buy NFT to win giveaways.
A Brief Glance at Samoyedcoin
Samoyed is a meme crypto. Meme crypto is designed to be fun. And, with the spectacular price performance of Dogecoin and Shiba Inu, investing in dog-themed meme tokens has also been shown to be a way to make money with crypto.
The SAMO coin is based on the Samoyed dog breed. This is an intelligent, loyal and kind dog that originates from the Arctic regions of North Eastern Siberia.
- Samoyedcoin is secured on the popular Solana blockchain (which has its own utility token SOL).
- Samoyedcoin is positioned as a fun ambassador for the Solana blockchain.
Buy Samoyedcoin: Why Choose SAMO? 5 Reasons
Having figured out how to invest in Samoyedcoin, investors need to confirm that this meme coin is worth investing in.
Five factors point to SAMO being one of the most undervalued cryptos.
1. 90% Jump in Only Three Weeks
In the space of 3 recent weeks, SAMO has pumped by just over 90%.
- On 13th July 2022, the SAMO price stood at $0.007696
- On 2nd August 2022, the SAMO price stood at $0.01468.
If an investor had bought $1,000 of SAMO in early July, his/her SAMO would then be worth roughly $1,900 three weeks later.
Will this price pump continue? The technical indicators suggest that it might …
2. Technical Indicators Suggest Positive Samoyedcoin Price Momentum
The Samoyed price has been forming a perfect ‘ascending channel’ over the last weeks. This is what is called a bullish ‘continuation’ pattern, which is associated with positive breakouts.
- On 26th July 2022, Samoyed bounced off its 30-day moving average at $0.00921.
- By 5th August 2022, the price stood at $0.01424.
- That is an increase of 55%.
Possibly supporting the price is the listing of SAMO on US exchange Gemini, as well as rumors that it is coming to global giant Binance soon.
3. Powerful Support From the Community
SAMO started as a meme coin. But the developers are keen to position it as more than a meme coin. They see it as the anchor point for a whole Web 3.0 community.
SAMO’s role is seen as ‘onboarding Solana users, educating marketing participants’ and acting generally as Solana’s ambassador.
At the center of the Samoyedcoin idea is the ‘Samo Famo’. This is the core community of Samoyed fans: a family that believes in a ‘no-shill, non-pretentious, transparent, free-spirited culture.’
Whilst the existence of a cult following does not guarantee success for a crypto, it certainly helps. For example, the spectacular price performance of fellow doggy meme coin Dogecoin in 2021 was down to its popular following, rather than any intrinsic superiority over other tokens.
4. Samoyedcoin NFTs
SAMO developers have worked hard to promote the SAMO coin.
One result of these promotional efforts is the SAMO launch NFT collection.
- The SAMO launch collection comprises 5,525 randomly-generated NFT images.
- The developers explain that ‘each NFT features a charming Samoyed dog with a blend of unique attributes with as much personality as our fluffy white companions [in real life].’
- SAMO NFTs are available at the best NFT marketplacessuch as Solanart, Magic Eden, FTX.US, OpenSea and Rarity Rank.
5. Deflationary Coin
SAMO is a deflationary coin. That means built into its system is constant pressure on the supply. This exerts a continual upwards price pressure:
- 1% of SAMO is slated for ‘burning’, which means being destroyed.
Samoyedcoin (SAMO) Price
The SAMO coin price is currently $0.014777.
Investors researching whether to buy SAMO coin can check out a live version of the price chart above on coinmarketcap.com: SAMO coin market cap.
Samoyedcoin Price Forecast
Samoyed’s market capitalization is currently a modest $53m. Around $2.5m of SAMO is traded every day. This is therefore one of the low cap crypto gems.
At its height in Q4 2021, SAMO had a market capitalization almost ten times that. If it continues its bullish ascending channel and Bitcoin leads the altcoin market higher with breakout behavior, SAMO could be on its way to its previous heights.
A SAMO coin price prediction for 2023 of $0.05 is perhaps not unreasonable.
- Technical indicators, though, also suggest that if Samoyed falls beneath a level of around $0.0102, we could see the price fall as low as $0.007.
SAMO Blockchain (Solana) Was Hacked
Samoyedcoin is hosted on the Solana blockchain. This blockchain has many strengths:
- Transactions only use as much electrical energy as a single Google search.
- It takes less than a second for Solana transactions to complete.
- The Solana transaction cost is tiny at $0.00025.
However, throughout July 2022, the Solana blockchain suffered several outages. And, on August 2, 2022, hackers exploited an issue with the Slope decentralized wallet to hack over 9,000 Solana wallets and make off with over $4m of crypto assets.
To be fair, this hack has not had a devastating effect on the Solana blockchain’s coin SOL. The coin dropped from the $41 mark to $38 on the news. And the SAMO price has not been affected as yet. However, this kind of publicity comes at the wrong time for investors pondering how to buy Samoyedcoin.
As an alternative doggy meme coin, we therefore review TAMA of the Tamadoge platform below.
Tamadoge: May Be a Better Alternatives
Despite its strengths as a crypto, Samoyedcoin is looking a little dubious as an investment right now. So is Samoyedcoin legit? Absolutely. But its host blockchain – Solana – got hacked recently. Although strictly speaking this is not SAMO coin news as such, it may act as a brake on the SAMO coin price.
If an investor is wondering how to buy SAMO, they might therefore wonder whether there is a better canine meme coin alternative.
There is. And it is called TAMA, a doggy meme coin with a difference.
As the in-house token for the brand-new play-to-earn/NFT Tamadoge platform based on breeding virtual pets, TAMA could well repeat the spectacular doggy success stories of Dogecoin and Shiba Inu.
Tamadoge – Most Exciting Play-to-Earn Meme Coin
- No more 2D portraits of pets – Tamadoge uses cutting-edge animated 3D graphics.
- Tamadoge owners can choose to have their pets around them in real life by using Augmented Reality (AR) technology to project them. (This feature is coming out in Q4, 2023)
- Each Tamadoge has unique weaknesses and strengths. Owners can improve their pets with buffs, and keep them happy with virtual food and equipment.
- Once a pet has grown to adulthood, its owner can compete for ‘Dogepoints’ by pitting it against others in combat.
- Who is ‘Top Doge’? The top pet owners on the Dogepoint leaderboard are rewarded with TAMA.
- TAMA can be used to buy virtual buffs and necessities for an owner’s pet.
- The Tamadoge platform will host a range of play-to-earn games. These vary in difficulty and cost – to suit all Doges!
- The Tamadoge metaverse – called the ‘Tamaverse’ – will give Tamadoge pets plenty of freedom to express themselves.
- Pet owners can use the Tamaverse social media channels to chat and exchange tips with other owners.
- In Q1 2023, the Tamadoge team will be seeking out third-party metaverses where Tamadoge pets can roam freely in the future.
This newest meme coin has swept the industry since its beta presale launched on July 2. In the short time the play-and-earn crypto project has attracted over $1 million in investments. With the beta pre-sale capped at $2 million, it is likely to sell out before the September 2 deadline. Will it be next Dogecoin?
Check here for our guide on how to buy Tamadoge (TAMA).