$TRUMP and $MELANIA meme coins: Can you buy Trump meme coins in India?

Within hours of launch, the $TRUMP Meme Coin hit a market capitalization of $6.76 billion, while the $MELANIA coin when launched, briefly tanked the $TRUMP coin

Published on: Jan 20, 2025, 11:29:23 IST

By HT News Desk

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US-President elect Donald Trump and his wife Melania have both launched cryptocurrency coins named after each other close to Trump's inauguration as the 47th President of the United States.

A cartoon image of US President-elect Donald Trump holding a Bitcoin token to mark the cryptocurrency reaching over $100,000 displayed at a Coinhero store in Hong Kong, China, on in Hong Kong, China, on Thursday, Dec. 5, 2024. Trump's pick of a crypto proponent to be the next head of the US securities regulator lifted Bitcointo $100,000 for the first time as traders warmed to the prospect of relaxed regulations. (Justin Chin/Bloomberg)

Within hours of its launch, the $TRUMP Meme Coin skyrocketed by over 300 per cent, hitting a market capitalization of $6.76 billion, according to CoinMarketCap.

Meanwhile, the $MELANIA coin when launched, briefly tanked the $TRUMP coin and rose to a market capitalisation of about $5.71 million.

Both the coins are minted on the Solana blockchain.

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Can Indians invest in the new $TRUMP and $MELANIA coins?

Cryptocurrencies in general are not geographically bound and anyone can invest in them from anywhere in the world, except for some countries that may have laws against it.

Cryptocurrencies are legal in India with the Supreme Court ruling in favour of cryptos in 2020, lifting a ban imposed by the Reserve Bank of India (RBI) prior.

Indians can invest in the new $TRUMP and $MELANIA coins through the following methods:

Through Moonshot marketplace

Trump recommends using Moonshot, a meme coin marketplace which accepts payment methods like Apple Pay, Google Pay, debit/credit cards, Venmo, and Solana/USDC. You just need to sign up with you email address.

Melania Memes can also be acquired through the official website using either a debit card or cryptocurrency.

Binance, Coinmarketcap, and a decentralised exchange (DEX) that supports the Solana blockchain can also be used to buy the Melania Trump coin.

The meme coins can also be purchased through other brokers or exchanges which support it.

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One needs to get themselves verified first. Know Your Customer (KYC) Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and anti-fraud checks need to be complied with.

Then a cryptocurrency wallet must be set up to securely store the Meme Coins.

One also needs to buy a base cryptocurrency like Ethereum (ETH) or Binance Coin (BNB) to trade for the meme coins. Ensure it is transferred to your wallet for secure storage.

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Then you have to connect your wallet to a Decentralized Exchange (DEX) which supports the coins.

Set the slippage tolerance, which is to account for price volatility, select your base coin as the payment method to buy $TRUMP or $MELANIA coins, and review the details before confirming the transaction.

Afterwards, ensure that your wallet displays the coins.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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