The cryptocurrency Memecoin (MEME) is now available for purchase using credit and debit cards through several major exchanges, including Bitget, Binance and OKX, according to announcements made this week. The ease of access, highlighted by OKX’s offering of instant purchases via Apple Pay and Google Pay, represents a broadening effort to integrate these often-volatile digital assets into mainstream financial systems.
OKX’s recent announcement details a three-step process for acquiring MEME: account registration, identity verification – a Know Your Customer (KYC) process – and finally, the purchase itself. The exchange specifies that users can utilize debit cards, credit cards, Apple Pay, or Google Pay, with options for bank transfers offering lower fees but potentially higher limits. Binance offers a similar process, noting that purchasing Memecoin with a debit card is comparable to using a credit card.
The rise in accessibility coincides with a broader discussion surrounding memecoins, which originated as internet jokes but have gained significant traction within the cryptocurrency market. Defined as cryptocurrencies inspired by memes and viral internet phenomena, memecoins like Dogecoin, launched in 2013 as a parody of the Shiba Inu meme, have demonstrated the potential to amass substantial market capitalization despite lacking the underlying technological objectives of established cryptocurrencies like Bitcoin or Ethereum.
Experts caution that, unlike Bitcoin and Ethereum which were designed to serve as a reserve of value or enable smart contracts, memecoins often lack a clear technological function. Their value is largely driven by community enthusiasm, social media trends, and endorsements from influential figures. According to a recent report, their value is based on “emotions, humor and viralidad” rather than solid foundations. This inherent volatility presents a significant risk for investors, as their price can fluctuate dramatically based on fleeting online trends.
Memecoins thrive within online communities on platforms like Reddit, Twitter, Discord, and Telegram, where memes spread rapidly. This connection to internet culture is central to their appeal and growth. OKX currently offers trading in Bitcoin, Ethereum, Tether, Solana, and other popular cryptocurrencies alongside MEME, providing both beginner-friendly and advanced trading tools.
