If you’ve ever traded meme coins, you know how challenging it can be to find a legitimate one without constantly worrying about getting scammed, I came across an app you might have heard of… or maybe not! it’s called “Moonshot”, a mobile app designed for trading these tokens. In this post, I’ll walk you through what Moonshot is, why you might (or might not) want to use it, its pros and cons, and how to get started.
What is Moonshot?
Moonshot is a mobile app for trading meme coins. Unlike other platforms, it’s exclusively available on mobile — there’s no browser version. The app makes it super easy to search for, buy, and sell meme coins with just a few taps.
It features popular Solana-based meme coins and is expanding to support meme coins on other blockchains like Binance Smart Chain (BSC). The team seems committed to including even more blockchains in the future.
Why Use Moonshot?
Here are two main reasons people are drawn to Moonshot:
1. Beginner-Friendly Interface
If you’re new to crypto or meme coins, Moonshot is one of the easiest apps to use. It’s designed for simplicity — just deposit funds, search for a token, and trade with a couple of clicks.
2. Potential Airdrops
There’s speculation that using Moonshot could qualify you for airdrops. For example: Moonshot might release its own token in the future, rewarding early adopters.
Some ecosystems, like Pudgy Penguins, have hinted that users of Moonshot might be eligible for token airdrops, such as the recent PENU token drop.
If you’re into farming airdrops, Moonshot could be worth checking out.Take a peek at the Moonshot app right here!
The Downsides
The biggest drawback of Moonshot is the fees. Here’s a breakdown:
Trades under $250: 2.5% fee (minimum of $0.40 per trade).
Trades over $250: 1% fee.
For comparison, swapping tokens on Jupiter (a popular decentralized exchange) costs just 0.1%. This means Moonshot is significantly more expensive. While the ease of use may justify the cost for beginners, experienced traders are better off using cheaper alternatives.
How to Use Moonshot?
Getting started with Moonshot is simple:
Deposit FundsGo to the “Holdings” tab and click “Deposit.”You can transfer crypto (e.g., USDC) to your Moonshot wallet or use Apple Pay/credit cards (though these methods come with extra fees).
2. Trade Meme Coins
Browse trending coins or search for a specific one.Select the token, hit “Buy,” and choose the amount you want to purchase.After purchasing, your holdings will show up in the “Holdings” tab.
3. Withdraw Funds
Click “Withdraw” in the “Holdings” tab.Choose your withdrawal method (e.g., crypto wallet).
Is Moonshot Right for You?
Use It If:
You’re a beginner looking for an easy way to trade meme coins.You want to farm potential airdrops.
Skip It If:
You’re an experienced trader who values low fees.You’re already comfortable using decentralized exchanges like Jupiter or Radium.
Final Thoughts
Moonshot is a convenient app for trading meme coins, especially for beginners or airdrop hunters. However, its high fees make it less attractive to seasoned traders. If you’re curious about the app, give it a try — but keep an eye on those fees to avoid unnecessary losses.
Let’s see what 2024 brings for Moonshot and its potential airdrops!
Make $10K per Week Trading Meme Coins with This One App! was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.