How to Buy Grimacecoin (GRIMACE)

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Contributor, Benzinga
January 26, 2022

Grimacecion is only available on decentralized exchanges (DEXs), so you'll 1st need to buy BNB on FTX and transfer it to a crypto wallet to buy GRIMACE.

The Decentralized Finance (DeFi) industry has seen a surge in popularity over the past year, and as crypto becomes more popular, more individuals learn how to create tokens. Now we have inevitably reached the point where people will create a token about anything. 

A lot of the time these tokens are referred to as “memecoins” as the value primarily comes from cultural relevance. Although most of these meme coins don't have any utility, this does not mean they are not valuable. Sometimes the most irrelevant tokens accumulate the largest following because of the social effects they create. 

What is GRIMACE?

GRIMACE token was created as a joke following the tweets of Elon Musk and Mcdonald's Twitter account. Elon began by tweeting “I will eat a happy mean on tv if Mcdonald's accepts dogecoin” which McDonalds replied to with “only if Tesla accepts grimacecoin.”  Grimace is the fluffy purple character that tags along with Ronald Mcdonald in popular Mcdonald's commercials. 

At the time of these tweets, there was no existence of Grimace coin, it was purely a joke from the Mcdonald's Twitter account. Hours after the Twitter altercation arose, GRIMACE and many other copy-cat tokens –– all with the hopes of becoming the next meme coin ––  were created and began to explode exponentially.

Tokens like these are completely based on hype and the general fear of missing out (FOMO). This ideology is essentially the idea that if enough people experience the fear of missing out on a new coin, they will buy into it which will in return drive up the price. 

How To Buy GrimaceCoin

So, you have a fear of missing out? Well, fear no more. Here’s how you can buy GrimaceCoin today. Just remember, tokens like these are extremely risky, and you shouldn’t be investing any meaningful amounts of money into projects based on the sidekick of Ronald McDonald.

  1. Open an online account with FTX.

    The first step to acquiring GRIMACE would be to purchase Binance Coin (BNB) from a crypto exchange like FTX.  Before you begin trading you will be required to verify your identity. This involves stating your legal first and last name, followed by selecting the government ID you wish to use, then taking a photo and sending it in. Finally, users must send in a picture of themselves to match the form of identification previously sent. 

    You can also opt to purchase BNB on Binance.com, but you'll need to use the U.S version if you're located in the States.

  2. Download MetaMask or Trust Wallet.

    A software wallet like Trust Wallet and Metamask are 2 great options when it comes to holding your GRIMACE tokens. Although these wallets are primarily for Ethereum tokens, you will have to manually add the Binance Chain in order to receive GRIMACE to your wallet. 
    This can be done by going to “Add Network”  in your wallet settings and entering the following information: 

    Network Name: Binance Smart Chain
    New RPC URL: https://bsc-dataseed.binance.org/
    ChainID: 56
    Symbol: BNB
    Block Explorer URL: https://bscscan.com

  3. Send your BNB tokens to Binance Smart Chain.

    Once you have added the Binance Mainnet to your wallet, you can now send over your BNB from FTX exchange. To do this, copy your wallet address from your mobile or desktop app and paste it into the send prompt on FTX. Once you have verified it is the correct wallet address, go ahead and confirm the transaction.

  4. Make your purchase.

    Once you have purchased your BNB and sent it to your wallet, you are now ready to swap your BNB for GRIMACE. To do this, head over to a Binance decentralized exchange like Pancake Swap. Once you arrive at the exchange platform you will be prompted to connect your wallet, which you will want to accept. 
    Once your wallet is connected you will be able to choose which tokens you want to swap. Select BNB for the first column and for the receiving column you will want to paste the following address: 

    GRIMACE token address: 0x66ce488222d4d3894ac97e2fdc60987605ee5b00 

    Now that you have BNB ready to swap to GRIMACE go ahead and confirm the transaction on Pancake swap and your wallet. Once the block is verified your tokens will be exchanged, which typically only takes a few seconds. 

    In order for you to see these new GRIMACE tokens in your wallet, you will need to manually add the token to your wallet. This is a very important and easy step, simply go to “import tokens” on your wallet and paste the token address we previously used to exchange (listed above). 

  5. Purchase a hardware wallet (optional).

    To keep your digital assets secure, it's a good idea to use a cryptocurrency hardware wallet. These wallets are external devices that keep your funds offline, mitigating the risk of your cryptocurrency being hacked. The industry leader and one of the most affordable crypto wallets is Ledger, which we recommend to any new crypto users.

BZ

Bonus Section

Keep in mind, the address listed above is the ONLY token address for GRIMACE. Other token addresses are either knock-offs or scams!

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Is GRIMACE a Good Investment?

For investors looking for a high-risk/high-reward investment, GRIMACE may be the perfect investment for you. Considering there is not any utility for the project and it was created as a joke based on a few tweets, it is safe to conclude that this is a high-risk investment. For traders looking for mid/long term holds, this is definitely not the investment for you. Please always do your own research before investing in cryptocurrency as they are very volatile assets.

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