Trump-related cryptocurrencies have experienced a market surge, each distinct in origin and purpose.
Key Takeaways
- ‘TrumpCoins’ are extraordinary examples of the intersection of politics and crypto.
- The frenzy for creating TrumpCoins started in 2016 with FreedomCoin.
- Solana-based TrumpCoin (DJT) surged to reach a market cap of $120 million before starting to crash.
- The speculative nature of these Trumpcoins makes it a high-risk investment.
In the dynamic world of cryptocurrency, Trumpcoins, often referred to as ‘shitcoins,’ occupy a unique place. They can be culturally interesting, exciting, and widely criticized. The value or utility of ‘shitcoins’ might also be debatable since it is based on speculation, and they are often scams. However, they can also offer an opportunity to generate money quickly.
TrumpCoin (DTC) is one such example. Named after Donald Trump, this shitcoin exemplifies how politics and celebrity can merge into a single token to drive some people’s avid interest in making a profit.
Keep reading to learn more about its relation with other TrumpCoins, its creation, the reasons behind it, and how to buy it.
Trumpcoins In Crypto Explained
The Solana-based TrumpCoin (DJT) experienced a notable surge in value in June 2024, standing out in the cryptocurrency community. The wave and decline of other Trump-related tokens add to an intriguing and complex history of Trump-related shitcoins.
TrumpCoin (DTC) is a cryptocurrency launched on May 11, 2023, by crypto enthusiasts in the United Kingdom. It features a cartoon of Trump’s face over the American flag, encircled by the golden inscription ‘In Trump we trust.’
TrumpCoin (DTC) should not be confused with FreedomCoin (FREED), which launched initially as ‘TrumpCoin’ in February 2016 and is often referred to as TRUMP. This version, rebranded as FreedomCoin, was not officially affiliated with Donald Trump. FreedomCoin was created during a time of intense political fervor in the US.
Who Is the Creator Of Trumpcoins?
In January 2022, Eric Trump, son of Donald Trump, posted a ‘fraud alert’ on X, stating that someone was promoting a ‘TrumpCoin’. Although the original post on X is no longer available, various reports have linked it to the coin’s official website.
Initially, ‘TrumpCoin’ was named in honor of Donald Trump and designed to support the ‘patriotic cause’ and capitalize on the popularity of the Republican candidate who, in July 2016, was nominated as the presidential candidate and won the election in November.
According to the official website, it was not until Eric Trump’s tweet that the coin adopted a new name, FreedomCoin (FREED). Plus, it was reported that Trump’s family considered legal action against this token.
After the attack on Donald Trump in July 2024, the FREED’S X account claimed, “Freedom is worth fighting for.”
TrumpCoin (DTC) is a community-made and owned project created by a team based in the United Kingdom and developed to reward all holders with 5% USDT. Its X account also supports Donald Trump’s presidential candidacy, stating that ‘The Great Liberation of America Begins on November 5th’.
However, this account is only connected to 487 followers and, according to CoinMarketCap, has an all-time high of $0.00000004453 on May 18, 2023.
Various Trump-Related Cryptocurrencies
As the 2024 elections approach, the cryptocurrency market has introduced many other Donald Trump-themed tokens on different blockchains.
While ‘Save America’ operates on the Ethereum blockchain and is associated with the pro-Trump PoliFi project, TrumpCoin (DJT) is backed by Trump and runs on the Solana blockchain.
Despite the declining Trump-related cryptocurrency market and the flood of low-value coins, the Solana-based token TrumpCoin (DJT) surged to reach a market cap of $120 million in June 2024.
Allegedly, Donald Trump’s son, Barron, is spearheading TrumpCoin (DJT), marking his involvement rather than his brother Eric’s, who complained about the aforementioned TrumpCoin in 2022.
In addition, there is MAGA (TRUMP), which operates within the Ethereum ecosystem, TrumpMedia (DJT), and a satirical memecoin with a slightly different version of Trump’s name, TREMP.
How To Buy Trumpcoins?
Buying TrumpCoin involves a series of steps that are usually similar to purchasing any other cryptocurrency.
Step 1: Research The Exchanges That Support Trumpcoins
Research and choose an exchange that lists your favorite Trumpcoin. CoinMarketCap, Coinbase and Coingecko are some options to find it. Note that not all major exchanges, such as Binance, list this coin. When choosing an exchange, consider factors such as security features, user interface, transaction fees, and customer support.
Step 2: Create An Account
Create an account on the selected exchange. This process usually requires providing an email address, creating a password, and verifying your identity (known as KYC or Know Your Customer process).
Step 3: Deposit Funds, Place An Order And Complete Your Purchase
Deposit funds into your account in fiat currency or cryptocurrency. Then, navigate to the TrumpCoin market by searching for it in the exchange’s trading database. Choose a transaction amount and review the transaction details (including any applicable fees).
Confirm purchase by placing an order. You can then place a buy order for TrumpCoin either as a market order (buy at the current market price) or a limit order (set the price at which you want to buy). Ideally, transfer your purchase to a hardware wallet to enhance security.
How To Add TrumpCoin (DTC) To MetaMask?
According to MetaMask, platforms like CoinGecko and CoinMarketCap provide integrations that enable users to add tokens directly to their MetaMask wallet from their websites’ token pages. The MetaMask icon is normally visible, and the token can simply be added by clicking on it.
If MetaMask is not available on a platform, you can follow these steps:
- Open MetaMask wallet: If you do not have it yet, you must download and install the extension on your browser. You can visit the official MetaMask website for this or your browser’s extension store.
- Navigate to the ‘Assets’ tab: Once your wallet is open, click on the ‘Assets’ tab to view your current token list.
- Add token: Scroll down and click on the ‘Add Token’ button at the bottom of the list.
- Select ‘Custom Token’: Switch to the ‘Custom Token’ tab in the ‘Add Token’ interface.
- Enter token details: Input the contract address for your chosen TrumpCoin. You can usually find this on the official TrumpCoin website or via a reliable cryptocurrency data source like CoinMarketCap. Also, enter the token symbol (likely TRUMP or DTC) and the token decimal (commonly 18 for ERC-20 tokens).
- Review and add the token: After entering the details, click ‘Next.’ MetaMask will display the token information for confirmation. Review to ensure all details are correct, then click ‘Add Token.’
- Confirmation: You should now see TrumpCoin listed under your ‘Assets’ in MetaMask. Well done!
TrumpCoins: FREED Vs. DTC Vs. TRUMP Vs. Save America DJT Vs. TrumpCoin DJT Vs. TrumpMedia DJT Vs TREMP
It can sometimes be challenging to distinguish between coins with Trump’s name. Each has its unique aspects and purposes.
Here’s a breakdown of their key characteristics to help clarify the differences:
TrumpCoin (FREE): It is now referred to as FreedomCoin. This is the primary identifier for a cryptocurrency created to support general patriotic initiatives. It was launched in early 2016 and is not officially connected to Donald Trump or his campaign. The coin aims to monetize the enthusiasm of Trump’s supporters and fund related political projects using blockchain technology.
TrumpCoin (DTC): This cryptocurrency, created in 2023, is sometimes referred to just by its ticker DTC.
MAGA (TRUMP): This cryptocurrency is distinctly different. Named after Donald Trump’s famous campaign slogan, “Make America Great Again,” MAGA coins are more directly tied to specific political campaigns and activities. Unlike TrumpCoin (DTC), MAGA is often used for more direct political engagement and fundraising, aligning closely with ongoing political efforts and the broader agenda of the Trump campaign.
Save America (DJT): This cryptocurrency was launched in 2024 and is part of the pro-Trump PoliFi project.
TrumpCoin (DJT): Launched in 2024, this is a newer version of a TrumpCoin that runs on the Solana blockchain. Purportedly, Barron Trump, Donald Trump’s son, is involved in it.
TrumpMedia (DJT): Also launched as part of the trump frenzy in 2024, this shitcoin seems to align with Trump’s media ventures.
DonaldTremp (TREMP): slightly different from the others, this memecoin operates within the Solana blockchain ecosystem
| Coin Name | Ticker | Year of Creation | Blockchain |
|---|---|---|---|
| FreedomCoin (launched as TrumpCoin) | FREED | 2016 | Ethereum |
| TrumpCoin | DTC | 2023 | BNB |
| MAGA | TRUMP | 2023 | Ethereum |
| Save America | DJT | 2024 | Ethereum |
| TrumpCoin | DJT | 2024 | Solana |
| TrumpMedia | DJT | 2024 | Ethereum |
| Donald Tremp | TREMP | 2024 | Solana |
Are TrumpCoins safe?
The nature of Trump-themed cryptocurrencies lies in their unpredictability. Trumpcoins and similar tokens are heavily driven by speculation and trends, relying on investor interest and sentiment rather than inherent utility. This can often lead to significant and unpredictable price fluctuations.
This type of valuation makes it particularly sensitive to shifts in market dynamics. Many of these are also linked to social media trends, which can increase financial risk.
For these reasons, potential buyers should be aware that TrumpCoin’s price can change quickly, influenced by external factors that may not be directly related to the coin’s use or adoption.
Given these factors, while TrumpCoin transactions are technically secure, the investment remains highly speculative and risky. Therefore, it is advisable to proceed with caution and informed consideration.
Conclusion
TrumpCoin is a prime example of the unique blend of cryptocurrency, politics, and culture in the digital age. However, it is important to bear in mind that this coin draws its value largely from speculation, market dynamics, and social trends, which contribute to its volatility.
While transactions via blockchain technology are generally secure, investing in TrumpCoin can be high risk due to its nature. Therefore, as a rule of thumb, it’s crucial to always proceed with caution and do the necessary research before making any investment in TrumpCoin or any similar digital assets.
FAQs
How does the volatility of Trumpcoins compare to other established cryptocurrencies like Bitcoin or Ethereum?
Trumpcoins tend to be far more volatile than established cryptocurrencies like Bitcoin or Ethereum. Their prices can fluctuate dramatically in short periods due to their speculative nature and reliance on social media trends. This makes them riskier investments, with the potential for both rapid gains and significant losses.
What are the specific risks associated with investing in Trumpcoins, and how can investors mitigate those risks?
The speculative nature of Trumpcoins poses significant risks, including market manipulation, illiquidity, and regulatory uncertainty. To mitigate these, investors should thoroughly research the project, invest cautiously, diversify their portfolios, and stay informed about regulatory changes.
What is the regulatory landscape surrounding Trumpcoins, and are there any potential legal implications for investors?
The regulatory landscape for Trumpcoins is still evolving. As of now, there are no specific regulations targeting these tokens. However, investors should be aware of potential legal implications, such as securities laws and tax regulations, that may apply to cryptocurrencies in general.
