How to Buy Solana Altcoins
Table of Contents
$JWUM Meme on Solana – 100 Million Market Cap
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How to Buy Solana Altcoins
Key insights – How to Buy Solana Altcoins
- 📈 Solana has spent the last year explosively outperforming Bitcoin and ethereum, now priced at around $200.
- 💼 Jupiter is the leading place to swap all kinds of Solana tokens, making it a crucial platform for crypto investors.
- 🔄 Adjusting the slippage level can help prevent trade errors and ensure successful transactions when buying meme coins on Solana.
- 💰 The lower liquidity on a coin, the more likely you are to experience slippage when trading meme coins with a low market cap.
- ⏰ Dollar cost averaging (DCA) on Jupiter enables gradual accumulation of assets over time, smoothing out volatility and minimizing slippage.
- 🔄 Setting a range in price for DCA orders can prevent execution if the price goes outside of that range.
- 🚀 “There’s no such thing as a free lunch, risks are always involved.” – Always keep in mind the potential risks when using leverage in trading.
- 📈 The best edge in crypto trading is not through leverage, but by identifying trends before they break out and positioning yourself early.
Solana has seen significant growth and offers opportunities for investors, but it is important to be aware of potential risks and use strategies such as adjusting slippage levels and dollar cost averaging to minimize them – How to Buy Solana Altcoins
- 00:00 🚀 Solana and its altcoins are performing well in the market, and it’s important to know how to buy them on the Jupiter exchange.
- 01:21 🚀 Solana is currently leading the crypto market, and Jupiter is the main platform for swapping Solana tokens.
- 02:18 🚀 Use Swap on Phantom to easily exchange Solana for meme coins, but be aware of slippage and adjust the settings to avoid transaction failures.
- 03:54 📈 Set your trade limit higher for a better chance of going through, but be aware of potential price deviation, especially with low liquidity meme coins.
- 04:37 📈 Jupiter allows for limit orders, dollar cost averaging, and other useful features to trade Solana altcoins efficiently and profitably.
- 06:19 🛒 Set up DCA on Jupiter to buy Solana altcoins, choose a pair, set spending intervals, and repeat orders, with the option to set a price range for execution.
- 06:54 🚀 Jupiter can help bridge or on-ramp tokens across different chains, including using Wormhole to go from Ethereum to Solana, and also offers an option to buy crypto with Fiat through Mercurio.
- 08:15 ⚠️ Use Jupiter for Perpetual swap trading with caution, set stoploss and takeprofit orders, and be mindful of the risks involved.
- Use perpetual swaps on Jupiter to potentially boost gains and profit from both bullish and bearish setups, but be cautious of the risks involved.
- Be careful when trading on Jupiter, set stoploss and takeprofit orders, and understand the risks of using Perpetual swaps.
- Use Jupiter carefully for Perpetual swap trading, be cautious with leverage, identify trends early, and don’t risk more than you can afford to lose.
Top comments
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- 00:00 Salana is a major story. This BR when with soul and salana altcoins absolutely ripping while the ecosystem sucks up a lot of attention and mind share in the market right now and if you’re getting into salana you’ll need to know how to actually buy salana altcoins on the Jupiter exchange the biggest Exchange in Solana’s ecosystem. In this video I’m going to walk you through how to get started with the Jupiter decks. But before we start why is having exposure to salana tokens such a big deal. This cycle anyway well I’m glad asked salana and its ecosystem sorry to bring up the bad memories. But if we rewind back to the bottom of the last bare Market in late 2022 some rough times on whe all of PTSD but FTX had just collapsed was a big pile of smoking rubble and multiple. Other platforms had collapsed and soul was absolutely in the gutter. Pessimism was very high in the entire ecosystem because it was closely associated with Sam. Bankman freed and briefly traded as low as $10 sound bad but returned to 2024 and Solana has spent the last year explosively outperforming Bitcoin and ethereum. It’s now priced at the time recording this video. Around $200. Any connections with the now Behind Bars SBF and his defunct FTX exchange have been consigned to the dust bin of History.
- 01:21 Its main competitor ethereum right now is underperforming and salana is now at least for the moment fully in the crypto driving seat driving narrative and hype and price which which means a key platform to get to grips with is Jupiter the leading place to swap all kinds of salana tokens by the way I own jup tokens just for full transparency if you want to see. Full portfolio disclosures check out the link in the description or the pinned comment over on X so let’s get started. Let’s connect our Phantom wallet to Jupiter assuming you’ve bought salana which you can find out about how to do if you still need help with that. In the earlier video called how to buy salana quickly on bitet link in the description and of course you’re using the Phantom wallet. In case you have any struggle doing that check out the video. We made called how to use the Phantom wallet again Link in the description so what you need to do to get started with Jupiter. You need to go to j. a and click connect wallet Jupiter which is kind of like the salana version of Unis.
- 02:18 Swap has several great features to help you make money on chain. Let’s start off with just some simple swaps with Phantom connected you just set the pair that you want to exchange so let’s swap soul for the very popular mem coin dog whiff hat whiff select. In this case the amount of salana you want to spend on whiff click swap sign it in your Phantom wallet and bada bing bada boom. We’re all done you’ve now bought a meme coin on salana congratulations that said though you’ll sometimes get a popup telling you that your transaction has failed and a common reason for this is that the slippage has been exceeded but what exactly is slippage and how how can we get around. This tricky little problem. Basically slippage is how much the price of your executed swap may vary from the rate when you started the swap so for example if you place an order for a token at $100 but the price moves and it’s filled at $105. Then you experienced 5% slippage but if the slippage level goes beyond a certain threshold. Then the trade simply won’t happen and you’ll get an error message that tells you sorry. Transaction failed to change the level of slippage that you’ll accept and you may not want to do this. But you can you just need to click on the little percentage number. Above. The main box select a level or enter a custom setting and then click on save settings.
- 03:54 The higher you set it obviously the more likely a trade will go through but the flip side is the further the price can travel from what you wanted thus meaning that you don’t get the exact entry or the most efficient entry possible into the asset you’re trying to buy. This particularly applies you’re trying to buy thousands or tens of thousands or more worth of a coin and remember the lower liquidity on a coin. The more likely it is that you’re going to experience that slippage so if you’re trading some super Nano cap meme coins that have like a million dooll market. Cap you’ll have issues and individual trades will have much more price impact. Simple swaps are Market orders meaning that we’re trading at current uh market rate whatever that happens to be right. Now.
- 04:37 That’s the easiest method. But Jupiter also lets you do more. It lets you place a limit order and to do that you guessed it. We click on where it says limit order genius this way instead of trading at the current market rate and dealing with those slippage issues rep placing an order that will only fill at the exact price that we specify so we can sell when the price goes up to a certain level locking in profits or we can buy when the price drops scooping up a dip to do that having selected limit order. We then set up the trading pair enter how much to spend and the price that we’re looking for and then we set an expiry on the order or of course. You can choose to have it never expire meaning that it stays open until it is filled. Limit orders let you do other things instead of staring at the chart. But that’s not all that Jupiter can do so stick around for the lowdown on some other potentially profitable and very very useful features so up at the top. You can see the DCA. The set and forget option DCA stands for dollar cost average. It means setting up a repeat order to execute every week day hour whatever time scale you prefer. This is great for gradually building a position and asset that you have conviction in and it operates over an extended period of time. Thus it can smooth out volatility can also help with slippage issues so you might not be able to buy $110,000 of a coin efficiently but you can buy $100 of that coin a 100 times and do a very little slippage anyway.
- 06:19 Let’s click on DCA choose a pair set how much to spend and at what intervals and select how many times you want to repeat the order. If you want. You can also set a range in price goes. Outside of this range. The order won’t execute although people often use DCA because they don’t want to worry about that shortterm price change. They just want to get a more relative price stretched out over bit of time. So you might not want to do this of course. In that case anyway check the summary and start DCA if it’s all okay if you’re out of salana.
- 06:54 Of course. Jupiter can help you to bridge or on-ramp to get tokens across the salana. From another. You just click on bridge select the chain and the token that you hold let’s say for example ethereum’s usdc and the chain in the token that you want so maybe we could use some salana usdc enter an amount and it will give you comparisons between the different Bridges. Then you can find the best rate and clicking will take you out of Jupiter over to your selected Bridge. The other option to go from from ethereum to salana is a new one called Wormhole and if you select this then you can do everything right there in Jupiter by connecting up your metamask and your Phantom wallet but lar what if I don’t have any crypto at all well. In that case you can select onramp to buy crypto with Fiat when you’ve entered what you want to buy. This will take you to a crypto service provider called Mercurio where you can pay with a card. Apple pay or Google pay or a bank transfer and if you’re buying some meme coins you will never see your money go out. The door quite so quickly be careful or if you prefer. Then. Of course you can check out our tutorial on how to buy salana on bitet again.
- 08:15 Link in the description for that and finally let’s look at one more feature that can be a bit risky but does provide a way to potentially boost your gains and thus your profit from both bullish and bearish setups. If of course you have that appetite for risk perpet ual swaps or per. Let you use leverage so you’re betting with more than you actually hold in your stack your borrowing from the bank so to speak. It’ll also let you go short meaning that you can bet on the price of a coin falling on Jupiter. These trades are super easy to execute so I click on per and let’s say I want to go long on Solana with leverage I enter my collateral I select my leverage amount and I’m good to go with what is is effectively a way to amplify any returns as well as amplify my losses be careful. But of course there’s no such thing as a free lunch right you got to keep that in mind we always got to remember that risks are. Amplified here so please keep that in mind so down at the bottom is the borrow weight per hour and crucially the liquidation price. So if the price Falls to that level then say goodbye to your money because you will lose all your collateral in that situation. Be careful again understand the risks but these tools exist so want to tell you how to use them after opening a trade. Like this you can monitor it by looking below the chart and there are some important points here first you can and should set a stoploss which will automatically close the trade at a certain point if it goes the wrong way. Thus limiting your losses. Second you can set a takeprofit order which will automatically close the trade at a certain profit. Point third you can manually close the order at any time and also you can change how much collateral you’re actually using all very important things to know if you’re trading using Perpetual swaps and to go short meaning that you’re betting on Price is falling. You just click on short go through the same process except now since you’re betting on prices going down. The liquidation price will actually be higher than the current price right you flipped things around in the market. Everything thing is reversed here. Stop losses activate if the price goes up take profits will activate if the price goes down that all being said though please be careful with Perpetual swap trading. Crypto super volatile leverage gets rined out on a regular basis especially those using High leverage so don’t risk more than you can afford to lose while still of course making sure that you’re remaining in the game and keep in mind. Also that the best Edge you can get is actually not through access to leverage. It’s through getting in the crypto trenches identifying Trends before they break out and positioning yourself early so that you can sell into strength for now though that’s about all you need to know to be able to use Jupiter effectively to take advantage of all. The different features so have fun with it take care and as always thanks for watching.
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