Memecoins are cryptocurrencies created based on jokes, internet memes, or popular themes. The most notable examples are Dogecoin (DOGE) and Shiba Inu (SHIB). While they were initially launched as jokes, over time they gained popularity and now have real market value.

• Community-driven: Memecoins are often promoted on social media and by public figures, though promotion isn't an indicator of an asset's quality or risk level.
• Low unit price: Many memecoins are priced at fractions of a cent per token. A low price per token reflects the large total supply rather than the asset's value or risk level.
• Hype-driven: Memecoin prices are often influenced by social media trends and hype rather than fundamentals, which can make them highly volatile.
• Cultural element: Some people engage with memecoins as part of online culture, though any purchase should still be treated as a high-risk investment.

Unlike Bitcoin or Ethereum, memecoins typically lack a strong technical foundation or utility. Their value is mainly shaped by culture, humor, and emotion.

Yes, CEX.IO supports the exchange of popular memecoins paired with USD and other cryptocurrencies. You can convert USD into Dogecoin or Shiba Inu directly through the platform.

On CEX.IO, convert refers to the process of exchanging one cryptocurrency (e.g., BTC) for another (e.g., ETH) or into fiat currencies (USD, GBP, EUR). Unlike Spot Trading, which requires users to place buy and sell orders, the Crypto Converter allows eligible participants to swap digital assets without placing a trading order.

You can convert cryptocurrencies through our web-based platform or crypto mobile app for Android and iOS. The steps are as follows:

For desktop/laptop users: 

1. Log in to your CEX.IO account using your established credentials. 
2. Navigate to the CEX.IO Wallet from the dashboard or under the Products menu. 
3. Under the Assets tab, use the search button to find the asset you want to convert (e.g., BTC). 
4. On the right-hand side, find the Convert feature and click on it. 
5. A pop-up window will appear containing two assets. The first is the one you want to convert, whereas the second includes the asset to which you want to convert your holdings. 
6. Choose the asset you want to convert from the dropdown menu. 
7. Click Convert to complete the transaction. 

For mobile experience: 

1. Open the CEX.IO App on your smartphone/tablet. 
2. Tap Convert. 
3. Choose the asset you want to convert and specify the amount. 
4. Select the cryptocurrency you want to receive. 
5. Tap Convert to complete the crypto conversion. 

Not exactly. Converting crypto is exchanging one cryptocurrency for another, meaning you still hold crypto assets. For example, if you convert BTC to ETH, you still own ETH in your CEX.IO wallet. Conversely, selling crypto involves exchanging it for fiat money (USD, EUR, or GBP). So, if you sell BTC for USD, you are cashing out into fiat currency. Both actions involve exchanging assets, but the key difference is whether you remain within the crypto ecosystem (holding assets in your wallet) or exit into traditional money (cashout/withdrawal).

Tax treatment of crypto conversions varies by country, and in many places conversions may be taxable. Because the rules can be complex and change over time, it's a good idea to keep a record of your transaction history and check with a tax professional about what applies where you live.

Converting and selling suit different needs. Converting through the Crypto Converter lets you move between digital assets while staying in the crypto market. Spot Trading lets you choose a specific trading pair for the asset you want (e.g., BTC to USDT or BTC to EUR)). And if you need fiat, you can convert your digital asset to a fiat currency and withdraw your balance through supported cashout methods.

Yes, CEX.IO allows eligible users to acquire Bitcoin, as well as many other supported assets, with different fiat-based funding methods, including:

• Credit and debit cards
• Bank accounts (Swift, SEPA, Faster Payments)
• Google Pay and Apple Pay
• PayPal (U.S.-based customers only)
• Skrill
• Neteller
• MoneyGram
• Cards by Venmo, Discover, Payoneer, Revolut
• Prepaid cards (not recommended due to potential transaction confirmation challenges)
• Epay

Disclaimer: Some payment methods may be unavailable in your country due to varying local/regional regulations. Research the supported funding gateways before purchasing crypto at CEX.IO.