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Venturing into this new era of memecoins doesn't come without complications. The majority of individuals, statistically speaking, tend to lose money when trading memecoins. Therefore, having a competitive edge is crucial for aspiring traders. Below are vital resources that can help any trader maximize their potential in this exciting yet treacherous market.
1. Setting Up a Self-Custodial Wallet
The first step to start trading memecoins is acquiring a self-custodial wallet. Unlike centralized exchanges, self-custodial wallets allow users to have full control over their crypto assets. Phantom is a recommended option due to its user-friendly interface and seamless integration with trading platforms.