I have written about Solana Network's mascot, Samoyedcoin, more than once before. The time has come to share a guide on how to buy Samoyedcoin / $SAMO ticker from a DEX.
Congratulations, you are now part of the SAMO FAMO. Go on Twitter and share the news!
*Usually takes a couple of minutes to transfer from a CEX to Phantom wallet.
One of the more common questions in the $SAMO Telegram chat or official Discord is: "How to buy Samoyedcoin?"
Above, I highlighted a short, quick version of the process of buying Samoyedcoin. Below, I have outlined a longer, more detailed guide on how to buy $SAMO, including images. Because, everyone loves images. So, here it goes, how to buy Samoyedcoin, step by step.
First, you need the currency you will use to swap into $SAMO later on. In this case, the best thing to do is to buy $SOL, the native token of the Solana ecosystem. You buy from from a so-called centralized exchange, such as Binance or Coinbase. In this guide, I will use Binance as the example. That is the exchange I use the most, besides Coinbase and KuCoin. But really, any exchange that have $SOL trading pairs available will do.
If you do not already have an account with Binance, go ahead and create one.
If you use this code, "CK876ER3" when signing up, you can enjoy a 10% cashback on all trading fees paid in the Binance platform. Ok, enough shameless advertising. Sorry about that.
After you have your account ready, buy $SOL, totalling the amount you want to swap for $SAMO later on. Save a few cents of $SOL to cover gas fees as well.
Phantom Wallet is the premiere non-custodial wallet in the Solana ecosystem. I use it in this example of how to buy Samoyedcoin because it is my favourite Solana wallet.
Currently, Phantom Wallet is only available as a browser extension. Get started from the official Phantom Wallet website. The company is currently in the process of developing and releasing a mobile app for iOS and Android. But for now, setup the browser extension.
When you have the browser extension installed, access the application and either login if you already have an account. Or, proceed to create a new account. You will have to provide some basic details. Make a note of your seed phrase (never share it with anyone).
After that, log in to your Phantom Wallet and locate your wallet address, copy the address.
After you posted your Phantom Wallet address, log in to your Binance account. From there, you will withdraw $SOL to your Phantom Wallet.
Locate the wallet section inside your Binance account and go to "Spot".
From there, locate your $SOL balance and open it:
Typically, the transfer takes a couple of minutes. Transfer time usually depends on the net workload on Binance. They have millions of users, best is to avoid peak hours for fast transfers.
When the $SOL arrived in your Phantom Wallet, it is time to connect to a decentralized exchange and swap for $SAMO.
Go on the Orca DEX website.
Wait for the confirmation, after that, wait for the Samoyedcoin balance to reflect in your Phantom Wallet.
Welcome to the SAMO FAMO!
Hope you enjoyed this guide on how to buy Samoyedcoin!