US-President elect Donald Trump and his wife Melania have both launched cryptocurrency coins named after each other close to Trump’s inauguration as the 47th President of the United States.

Within hours of its launch, the $TRUMP Meme Coin skyrocketed by over 300 per cent, hitting a market capitalization of $6.76 billion, according to CoinMarketCap.

Meanwhile, the $MELANIA coin when launched, briefly tanked the $TRUMP coin and rose to a market capitalisation of about $5.71 million.

Both the coins are minted on the Solana blockchain.

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Can Indians invest in the new $TRUMP and $MELANIA coins?

Cryptocurrencies in general are not geographically bound and anyone can invest in them from anywhere in the world, except for some countries that may have laws against it.

Cryptocurrencies are legal in India with the Supreme Court ruling in favour of cryptos in 2020, lifting a ban imposed by the Reserve Bank of India (RBI) prior.

Indians can invest in the new $TRUMP and $MELANIA coins through the following methods:

Through Moonshot marketplace

Trump recommends using Moonshot, a meme coin marketplace which accepts payment methods like Apple Pay, Google Pay, debit/credit cards, Venmo, and Solana/USDC. You just need to sign up with you email address.

Melania Memes can also be acquired through the official website using either a debit card or cryptocurrency.

Binance, Coinmarketcap, and a decentralised exchange (DEX) that supports the Solana blockchain can also be used to buy the Melania Trump coin.

The meme coins can also be purchased through other brokers or exchanges which support it.

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One needs to get themselves verified first. Know Your Customer (KYC) Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and anti-fraud checks need to be complied with.

Then a cryptocurrency wallet must be set up to securely store the Meme Coins.

One also needs to buy a base cryptocurrency like Ethereum (ETH) or Binance Coin (BNB) to trade for the meme coins. Ensure it is transferred to your wallet for secure storage.

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Then you have to connect your wallet to a Decentralized Exchange (DEX) which supports the coins.

Set the slippage tolerance, which is to account for price volatility, select your base coin as the payment method to buy $TRUMP or $MELANIA coins, and review the details before confirming the transaction.

Afterwards, ensure that your wallet displays the coins.