With projects such as Book of Meme, DogWifHat, and Slerf seeing explosive gains of up to 1,000% in recent weeks, it is clear that the spotlight is on Solana meme coins in the current bull market.
Slothana is the newest addition to this market, with investors speculating that the creators of Smog, which has done 75x since its launch earlier this year, could be behind the project.
Slothana is currently holding an airdrop presale, with 10,000 $SLOTH on offer for a fixed rate of 1 $SOL. In this guide, we will provide detailed, step-by-step instructions on how to purchase the token.
How to buy Slothana token (SLOTH) – Step-by-step guide
Slothana can only be purchased via Airdrop Presale. and to do so, you will first need to create and fund a Solana-compatible cryptocurrency wallet.
Meme coins are a more volatile asset class than other top market-cap cryptos, Therefore, we strongly recommend that you research the project and assess your risk appetite before making any investments.
Step 1: Download Phantom and create a new wallet
The first step to buying $SLOTH is to create your own Solana-compatible crypto wallet. Our experts recommend Phantom Wallet.
Visit the official Phantom website to start creating your new Solana wallet. Once on the homepage, the site will immediately detect whether you are using a web browser or a mobile device. In this instance, we are using the Microsoft Edge browser.
Click ‘Download for Edge’ and you will be directed to the Microsoft Edge extensions add-on page. Add the Phantom extension to Edge browser and accept the disclaimer acknowledging that it is a third-party app.
Once downloaded, a new browser tab will open with the ‘Create a new wallet’ option.
Step 2: Set a password and securely store your seed phrase
Next, you will need to set a password for your new Phantom wallet. Once this is done, you will be provided with the seed phrase, which is the master unlock to your new Phantom wallet.
The seed phrase will be 12 words in a specific order and should be written down and stored in a secure place.
We highly recommend that you never screenshot your seed phrase or store it on any device that connects to the internet.
Step 3: Fund your crypto wallet
To participate in some of the best crypto presales, you will need a funded, Solana-compatible wallet.
Our research team recommends always using a reputable crypto exchange, such as Kraken or Coinbase, to purchase Solana.
When asked for the receiving destination, you need to copy and paste your Solana wallet address into the receiving address field when commencing the purchase.
The address can be copied to the clipboard by hovering over the two squares next to ‘Account’ at the top of the Phantom Wallet app.
Keep in mind that you will need to visit the official Slothana website and send a minimum of 1 $SOL to the wallet address provided. It is always good practice to leave 0.05 Solana in your wallet to cover future transaction costs.
Step 4: Send $SOL to the Slothana address and wait for the airdrop
Once your wallet is funded and the Solana appears in your holdings, you can proceed with purchasing $SLOTH.
The remaining steps to complete your transaction are as follows:
- Visit the Slothana website and locate the ‘To do list’ on the landing page. You will find the wallet address where you will need to send Solana to buy $SLOTH.
- Unlock your Phantom wallet, click ‘Send’, choose Solana token, and copy and paste the Slothana wallet address as the receiving destination. Enter the amount you wish to send and click ‘Next’. Remember that 1 $SOL equals 10,000 $SLOTH.
- Now you will be presented with a breakdown of the transaction details and the network fee. Remember to leave some SOL in the wallet to cover network fees, currently, one transaction costs around $0.005.
- After reviewing the transaction details, click ‘Send’ and the transaction will be initiated.
Now that you have participated in the Slothana presale, all that remains is to wait for the airdrop.
Key facts and figures for Slothana
- Token price: The price for participating in the Slothana presale airdrop is fixed – 1 $SOL = 10,000 $SLOTH.
- Airdrop presale: Not a traditional presale – you must send Solana to the wallet address provided and wait for the airdrop.
- Milestone raise: Slothana raised over £500K just hours after launch.
- Community sentiment: There is positive community sentiment surrounding Solana meme coins. $SLOTH could follow the same trajectory as $BOME, $WIF, $BONK, $SMOG and others which have seen major price runs.
- Solana meme hype: Solana meme coins are currently in the spotlight, with several going viral across social media and raising significant amounts of money.
- Potential CEX listing: Meme coins have been listed on top-tier centralized exchanges. Slothana could potentially list on Binance or other top CEXs.
Benefits of buying $SLOTH
Early entry: By purchasing $SLOTH, you can become an early supporter and potentially qualify for early contributor benefit rewards.
Vibrant SOL meme community: You can join a growing meme coin community that may hold weekly challenges, games, and community engagement missions to obtain extra tokens.
Airdrop: The project developers claim that once you have sent $SOL to the contract address, you can expect an airdrop.
Risks of buying $SLOTH and meme coins
No utility: $SLOTH is just another Solana meme coin – beyond the airdrop there is no stated utility, roadmap, or whitepaper.
Highly volatile: Meme coins tend to be more risky and prices can fluctuate rapidly.
Project survival: There is no guarantee of $SLOTH surviving in the future. Meme coins tend to run in cycles and are stimulated by current market trends.
Follow the Slothana social community on Twitter for any future information, updates, and developments on the project.
Do I need Solana to buy $SLOTH?
Yes, Slothana is not holding a traditional presale that gives coin swap options. You must fund your wallet with Solana and send it to the instructed wallet address.
Can I use another wallet app?
There are several other Solana wallets on the market, however, our analysts suggest using Phantom Wallet as it offers a smooth user experience.
When will I receive the $SLOTH airdrop?
Keep up with the Slothana social channels to receive the latest updates about the project timeline, token airdrop, and launch.
