How & where to buy Hamster (HAM) online

The Hamster token is a ‘meme’ cryptocurrency. Use this guide to find out how it works, what it’s goals are, and compare how and where to buy HAM.
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Updated: Aug 10, 2022

This beginner’s guide introduces the Hamster token. Learn what makes it stand out from the crowd, where you can get it, and its prospects for the future.

What are the best exchanges to buy HAM on?

It’s not possible to buy Hamster coin on an exchange like Binance or Kraken right now. Don’t worry, as this is quite normal for smaller altcoins, it just means you have to perform a ‘swap’, which is when you exchange one cryptocurrency for another.

Swapping is how most crypto investors get their hands on altcoins. A swap is just like exchanging one currency for another, like going from GBP to EUR. The best cryptocurrency to swap for Hamster is Binance Coin (BNB).

It might sound a little complicated at first, but the process is quite simple in reality. Here is a quick step-by-step guide that takes you through how to swap BNB for HAM.

How to buy Hamster coin online – a step-by-step guide

Step 1. Find an exchange and buy BNB

The easiest place to start is by setting up a Binance account and buying BNB. You can make a deposit in a fiat currency, like GBP, and then use that to buy BNB.

To set up an account you must provide some contact details and a form of ID, like a passport or driving licence. You can then make a deposit through a bank transfer or a payment from your credit or debit card. We suggest using Binance because it’s easy to get started with and offers a huge range of coins.

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Step 2. Transfer BNB to a crypto wallet

To swap your BNB for Hamster coin, you first need to move it to a crypto wallet. Moving crypto from your exchange account to a wallet is just like withdrawing money from your investment broker into your bank account.

There are lots of different types of wallet but you should sign up to one that can connect to PancakeSwap – the exchange where you will actually make the swap for Hamster coin. The best option is MetaMask, which is a completely free wallet that you can add and manage from Google Chrome.

Each wallet has its own unique blockchain address, which is like a bank account number. You need to enter this address when you withdraw money from your exchange account. Go to your wallet and look for a long string of numbers; in the example below, you can find your wallet address by clicking the highlighted area.

metamask address

Step 3. Go to PancakeSwap and connect your wallet

Head to PancakeSwap and click on ‘Connect Wallet’. On the pop-up screen, select your wallet (such as MetaMask) from the list of available options. Now you can use the money in your wallet to buy other cryptocurrencies through PancakeSwap.

pancakeswap wallet

Step 4. Swap BNB for HAM tokens

Choose BNB from the first drop-down menu on the right side of the page. This makes Binance coin your purchasing cryptocurrency. Then choose HAM from the second drop-down; this sets it as the crypto you’re going to buy. Enter how much BNB you want to spend, and the system will show you how much HAM you’ll receive in return. Then execute the trade.

That’s all there is to it. Swaps are standard practice for any crypto investor who wants to buy and sell altcoins. All you need to do is sign up to Binance to get started.

How to trade Hamster coin

Trading Hamster is very similar to the practice of buying and selling coins detailed above. PancakeSwap is the only place to buy it and you can’t use a traditional crypto broker like eToro, as you would for more mainstream crypto coins.

Trading normally means using price charts and analysis tools to predict future price movements. These tools are not available on platforms like PancakeSwap, so you need to use a service like TradingView instead.

This quick guide explains how to trade HAM successfully.

Step 1. Find a broker

The most popular way to trade crypto is by using an online broker. These platforms charge low trading fees and make it easy to buy and sell coins quickly to take advantage of small price fluctuations.

Unfortunately, Hamster coin isn’t available on any broker platforms. That’s normal for new or smaller coins, which are only added once they become big enough to be worth it for the broker.

Until that changes, you need to use PancakeSwap or another decentralised exchange instead. You can learn how to do so in the buy guide above.

Step 2. Learn how to perform technical analysis

Technical analysis is the practice of looking at price charts and making predictions about how the price might change in the future. It’s very important to be familiar with this form of analysis and the various technical indicators in order to be successful.

Your technical analysis tells you when to buy and sell a coin. Make sure to find a website, like TradingView, that you can examine different price charts and use many different technical indicators.

Remember to look at the appropriate Hamster price chart. As you’re using BNB to buy it, the chart you want is the BNB/HAM one.

Step 3. Start trading 

Beginners might want to start trading with a demo account before moving onto the real thing. A demo account is simply an option to trade with virtual money and get used to the market, rather than putting your own capital at risk straight away.

When it comes to the trading itself, you have to decide whether to take a long (buy) or a short (sell) position. Use your own research and the latest news to influence this decision.

Ultimately, you can start to introduce advanced strategies as well to try to make bigger profits. Leverage is one of these, where you borrow money from your broker to make much larger trades. This can lead to big profits but also big losses if the market moves against you.

Still undecided?

To help you choose whether Hamster is for you, here’s a summary of the most important pros and cons of the coin. Then we explore whether now is a good time to buy and what the future might look like.

Pros

  • Meme coins can offer returns many times your original investment
  • The chance to be part of a fun online community

Cons

Now here are three final questions to help you decide whether to invest in Hamster.

1. Is it a good time to buy Hamster coin?

Many meme coins are all about timing and so it depends on what the current price is. If you’re a long term investor then it might be best to get in now but otherwise short term traders want to wait for the right opportunity.

The best way to predict future price moves is to use technical analysis. That way you can time your entry and exit from the market right. Either use one of our short term trading courses to help you or follow the links below to get the latest analysis from our crypto experts.

2. What problem does Hamster coin solve, and what are the coin’s investment prospects?

Right now it doesn’t solve any particular problem and it’s simply a trading asset. Over time, as it works through its roadmap and develops a strategy, that might change. For now it’s best to go in with your eyes open and simply use it as a speculative opportunity.

It’s long term prospects are difficult to discern at the moment because of the lack of information about its plans. Other meme coins like Baby Doge or even Dogecoin itself have more of a vision along with being deliberately fun.

That doesn’t necessarily mean Hamster is a bad investment, just that you should only put a small amount into it if you decide to get involved. Coins like this can go both ways: some have made their investors a lot of money, others have fallen to nothing. Either outcome tends to happen quickly too, so keep tabs on the latest news to make sure you don’t miss anything:

3. Do you want to hold Hamster coin for the long term?

At the moment it lends itself to more of a short term vision. However, that can change, and there are often times when a long term approach is best. It usually depends on what type of investor you are, so here are a couple of final considerations to help you decide.

Considerations for a long term investment strategy

If you like Hamster and expect the coin to grow in value over time, then the best bet is to get involved sooner rather than later. Sign up for an exchange to get some coins and then consider finding a wallet to store them.

Considerations for a short term trading strategy

A short term strategy is all about analysing the current price to look for the right time to buy. Then pick a broker, ideally with low trading fees, and learn how to use CFDs in order to be successful.


Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.