How to Buy Saitama (SAITAMA) in 2 Minutes | Step-by-Step

Saitama (SAITAMA), named after a character from the “One Punch Man” manga series, it’s part of the so-called “meme coin” trend, following in the footsteps of other dog-inspired cryptos such as Dogecoin (DOGE) and Shiba Inu (SHIB).

And while it started as a meme coin, it has evolved into much more. In this guide, we’ll share some general information about the altcoin and give you the step-by-step process of how to buy SAITAMA with BYDFi. 

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What is Saitama (SAITAMA)?

In June 2022, the Saitama token contract underwent an upgrade, improving security features and performance to ensure the token’s long-term durability and viability. 

Back in June 2023, 55% of the total token supply has been permanently removed or “burned,” leaving 45 billion tokens in circulation. The liquidity has been locked for a two-year period, set to expire this year, in June 2024.

Burning in the cryptocurrency context refers to sending a portion of tokens to a wallet that doesn’t have a private key, effectively removing them from circulation permanently. This process usually happens to decrease the token supply and thereby potentially increase its market value.

The most significant aspect of the upgrade is the transition of SAITAMA from a meme coin to a utility token, reflecting its functional purpose within its ecosystem.

Once you have fully comprehended the risks, here are the steps to buy the SAITAMA token. 

Where to buy Saitama (SAITAMA)? 

To buy or trade SAITAMA, you’ll need to register with a crypto exchange. We recommend using a regulated crypto exchange like BYDFi. 

BYDFi is a cryptocurrency exchange that offers a wide variety of cryptocurrency trading pairs, from popular coins like Bitcoin (BTC) to more niche altcoins. The platform also provides a broad mix of financial tools, including spot transactions, crypto derivatives like contracts for differences (CFDs), and leveraged tokens, as well as margin trading and copy trading.

To learn more about the crypto exchange, read our in-depth BYDFi review here. 

All-in-One Crypto Exchange - Get Your First Coins in 2 Minutes

• Multiple Licenses - Reliable and Regulated

• Service Diversification - One-Stop Trading Platform

• Copy Trading - Get Copied, Get Paid

• Easy Deposit & Withdrawal - From Fiat to Crypto, Fast and Easy

500,000+ Users

Get Started

How to buy Saitama (SAITAMA) in 2 minutes: Step-by-step

Now, let’s walk through the step-by-step process of buying Saitama with BYDFi. 

Step 1: Create a free account on the BYDFi website or app

You can create an account with BYDFi through the BYDFi mobile application as well as through your web browser. There are two options for registering with BYDFi: 

Email registration:

1. Input your email address;
2. Click on “Send” to receive the verification code delivered to your registered email address;
3. Enter the email verification code sent to you;
4. Create a password;
5. Click on “Get Started” to finalize your registration.

Mobile registration:

1. Choose your country/region and provide your mobile number;
2. Click on “Send” to obtain the verification code;
3. Input the SMS code sent to you;
4. Create a password;
5. Click on “Get Started” to finalize your registration.

Step 2: Fund your account with USDT

Since you cannot buy SAITAMA directly with fiat currency on BYDFi, you’ll need to first top up your account with Tether (USDT) stablecoin.

For this, navigate to “Buy Crypto” on BYDFi’s main page. Note that fiat deposits are offered by third-party service providers and not processed by BYDFi. 

Next, select your preferred fiat currency (currently, 54 fiat currencies are supported), and specify the amount you wish to deposit. You can determine the deposit sum based on the cash or USDT amount you’re comfortable with, provided that you meet the purchase limit requirements set by the service provider.

Now, choose the service provider. Visa, Mastercard, SEPA, as well as Apple Pay and Google Pay transactions are supported. 

Upon clicking “Buy Now,” you’ll redirect to the service provider’s page. At this stage, you’ll need to undergo their KYC process (note that the KYC record from BYDFi is not directly transferable or usable for the service provider’s KYC process).

Step 3: Use USDT to buy SAITAMA

After depositing USDT into your account, navigate to the “Spot” section on BYDFi’s main interface. Although BYDFi offers an advanced version of their spot trading platform, we’ll be focusing on the classic version, as most users, particularly new ones, will likely be more comfortable with it.

There are two types of orders available to you:

1. Limit order: Opt for this order type if you wish to initiate a position at a designated price. Once placed, the order will execute as soon as it hits the specified price (provided there’s sufficient liquidity). Note that limit orders may also fill partially;
2. Market order: The order executes immediately at the best available market price. 

For example, say you place a market order to buy SAITAMA. You enter the USDT amount you want to spend, e.g., 700 USDT. The order fulfills immediately when you press the ‘Buy SAITAMA’ button, after which you will receive SAITAMA equivalent of 700 USDT. 

Step 4: Review the fees and confirm your order

Buying cryptocurrency through BYDFi using fiat currency will involve transaction charges levied by the service providers; for the exact fees, visit the official website of the respective provider.

BYDFi imposes clear and competitive charges. The fees for spot trading fluctuate between 0.1% and 0.3%, depending on the specific cryptocurrency involved.

Step 5: Set up storage

Once you’ve puchased SAITAMA, you can either store it in your personal crypto wallet or keep it in your BYDFi account.

Your digital assets held with BYDFi are securely stored in offline, deep cold storage wallets, thereby mitigating any single point of failure. 

Furthermore, BYDFi incorporates multi-signature technology for deposit and withdrawal transactions, providing an additional layer of protection against potential attacks and loss of access to keys or facilities.

Even in an extreme situation where the entire system, including the web server, transaction engine, and database, is compromised, a potential infiltrator would not have enough keys to steal the funds as no private keys are stored on any of the cloud servers.

SAITAMA price today

Pros and cons of buying Saitama (SAITAMA)

Pros

• Community engagement: Saitama exists in a community-based ecosystem that can lead to network effects that boost the token’s value;
• Utility: With the recent upgrade, Saitama transitioned from a meme token to a utility token. A functional purpose within its ecosystem could potentially drive demand for the token;
• Potential for high returns: Given Saitama’s small market cap compared to behemoths like Bitcoin, the token could theoretically present a better chance for doubling your investment. For example, it’s much easier for a company valued at $1 million to grow to $2 million than for a company worth $500 billion to reach a $1 trillion valuation. This concept, referred to as the law of large numbers, suggests that larger-cap assets’ growth potential is inherently limited compared to smaller ones, i.e., as companies mature and grow, their expansion rates are expected to slow down.

Cons

• Volatility: Cryptocurrencies, including Saitama, are known for their extreme volatility, which can lead to significant financial losses;
• Regulatory risks: Governments worldwide are still figuring out how to regulate cryptocurrencies. Unfavorable regulations or outright bans could affect the value of SAITAMA;
• Dependency on the crypto market as a whole: Like all cryptocurrencies, the value of Saitama is closely tied to the broader crypto market. If the market declines, Saitama’s value will likely follow suit;
• Lack of adoption: While Saitama has a specific utility within its own ecosystem, its adoption as a form of payment or its use in other platforms is not widespread. 

Mistakes to avoid when investing in cryptocurrencies

Navigating the volatile and fast-paced world of cryptocurrencies can sometimes feel akin to a steep rollercoaster ride, both exhilarating and terrifying in equal measure. And so, despite the promise of potentially high returns, the journey is fraught with common pitfalls that both newcomers and seasoned investors can succumb to.

Additionally, while cryptocurrency exchanges in the United States need to register with the Financial Industry Regulatory Authority (FINRA), which imposes certain requirements, These include the implementation and upkeep of anti-money laundering (AML) and customer identification programs (CIPs), the cryptocurrency assets themselves are not subject to regulation.

Tips when starting out with crypto

There are measures that you can adopt to mitigate risks when purchasing cryptocurrencies. Here are some common pitfalls to dodge when investing in digital currencies to better safeguard your assets and finances:

• Not researching the crypto token you want to buy: Make sure you understand how the particular cryptocurrency you’re looking to buy works and what the risks are; 
• Not using a secure device: Avoid public computers and Wi-Fi networks. Always use your personal computer with a VPN, which helps establish a secure connection between you and the web, keeping your sensitive information safe;
• Using a sketchy exchange: Ensure the exchange has a license from appropriate regulators in your country and has a solid track record. Study the exchange’s user terms and agreements carefully to learn more about where they’ll keep your money and what happens to it if the business goes bankrupt. You may also want to scour through user reviews to catch any red flags;
• Not securing your account: Use two-factor authentication and a strong password to protect your account;
• Not using a secure wallet: Store your cryptocurrency in a secure wallet to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet. To choose the right one for you, make sure to check out our in-depth guide on crypto wallets;
• Investing money you can’t afford to lose: Because the crypto market can be so volatile, you need to be conservative with your investments, particularly when starting out. For more investing tips, have a look at our guide on investing mistakes to avoid;
• Forgetting your investments: Because of the extreme volatility of crypto markets, monitoring your investment is crucial. Keep an eye on the market and be aware of any changes in the price of the cryptocurrency you’re investing in. 

Crypto trading tips

The volatility inherent to cryptocurrencies provides a myriad of trading possibilities. In essence, such fluctuations enable traders to employ techniques like cryptocurrency day trading or scalping. These allow them to profit from the sudden and often frequent price shifts in a given cryptocurrency.

Hence, apart from studying the cryptocurrency market and its trends, it may be beneficial to acquaint yourself with some sophisticated trading practices, such as:

• Learning technical analysis; 
• Employing various technical analysis tools such as oscillators,  moving averages, Bollinger bands, support and resistance, and so on; 
• Familiarizing yourself with chart patterns such as the double top pattern and head and shoulders;
• Mastering day and swing trading, as well as scalping techniques.

For the best tips and tricks, check out our guide “How to invest in Crypto.”

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

FAQs about how to buy Saitama instantly