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 support: They are actively promoted on social media, forums, and even by celebrities.
• Affordable price: Many memecoins cost just fractions of a cent, allowing users to “buy a lot” even for a few dollars.
• Virality: Memecoins often gain value due to hype, trends, and the “fear of missing out” (FOMO).
• Entertainment: People buy memecoins not only as investments but also as part of online culture.

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 Cryptocurrency 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 obligations vary by country. Still, crypto-to-crypto conversions are considered taxable events in most jurisdictions. Some tax authorities treat conversions to fiat like sales. This means you may owe capital gains tax on any gains made when swapping one crypto for another. This tax is based on the difference between the price at which you originally acquired the asset and its value at the time of conversion. If you swap crypto at a negative rate, you may be able to deduct that loss from your taxable income. To ensure compliance, we encourage crypto enthusiasts to keep track of their transaction history and check with a tax professional for specific regulations in their respective countries.

Whether to convert or sell crypto should depend on your risk appetite and market conditions. If you're a beginner and want to stay in the crypto market and shift your portfolio into a different digital asset, converting crypto through our Crypto Converter is one option.

On the other hand, those looking to acquire other cryptocurrency under potentially more favorable market conditions can utilize Spot Trading to find a suitable trading pair for the asset they want to convert (e.g., BTC to USDT or BTC to EUR). Finally, if you need cash for personal use, you can convert your digital asset to fiat and withdraw your balance through supported cashout methods. 

Yes, CEX.IO allows eligible users to acquire Bitcoin, as well as many other vetted 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.