Once you have your specific currency’s wallet ID, head back over to your Coinbase account. Since I don’t want to miss any steps in this important process, click here to view the official how-to guide from Coinbase on transferring your currency to another wallet. Once you have your trading account setup at one of the exchanges that trades BONK Token (BONK), you will need to transfer your BTC or ETH from Coinbase to that specific exchange. As I mentioned at the beginning of this guide, Coinbase makes it very easy to start investing in cryptocurrency. All you need to do is head over to your BUYS pages and select the currency you wish to purchase.
Memecoins are known to generate irrational optimism from the cryptocurrency community, with the market capitalizations of SHIB and DOGE surpassing $30 billion apiece by the beginning of 2022. Twitter user R89 Capital, who is well-known in the cryptocurrency industry, recently informed his followers of the existence of a new (yet another) meme token. It is the first Solana Dog Coin created by the people for the people. However, across social media, some people are already saying the Bonk rally is over.
Therefore, it is impossible to accurately predict the price of Bonk 5 years from now. Please check Bonk(BONK) token address If you want to buy or sell Bonk(BONK) on dex exchange. Click here to view Bonk(BONK) price in different crypto exchanges. The BONKSWAP platform offers convenience and flexibility for anyone who wants to access DeFi protocols. However, since cryptocurrencies are high-risk investments, it is recommended to understand the risks and make investment decisions accordingly before trading on platforms like BONKSWAP. First of all, it is important to have a general knowledge of cryptocurrencies in order to understand what BONK Coin is.
Our providers also support a wide selection of alternative local payment methods. Buying cryptocurrency with MetaMask has never been easier. Just click on the “Buy” button on the MetaMask browser extension or mobile app to get started.
Bonk market stats
Created by DexLab and released with very little hype about the coin’s launch. But after a fairly successful launch, many DeFi traders and NFT enthusiasts have found the token to their liking. Created back in December of 2022, the BonkINU (BONK) token has been created specifically for the Solana community.
Under this title, we will try to answer the most frequently asked questions about BONK Coin. If you have questions other than the popular questions below, you can share your questions as comments and get answers. BONKSWAP executes transactions using automatic liquidity generation (Automatic Market Maker – AMM). This feature allows users to provide liquidity and execute users’ trades. BONK Coin is a cryptocurrency that has attracted attention with its rise recently.
In early 2023, Bonk already has investors barking about a big meme coin rally.
It’s important to do research and compare fees, security features, and supported currencies before choosing an exchange, as there are considerable differences between each one. In addition, you have to be mindful of your investment approach, crypto storage, and other aspects of buying and trading . Let’s start with the obvious similarity — the Bonk mascot is a lovable Shiba Inu dog. As such, Bonk is the latest in a long line of dog-themed meme coins that started with Dogecoin.
- I’m assuming you are an individual so I will skip the whole business account setup.
- The advantages of BONK Coin may include offering decentralized finance (DeFi) features, being a community-driven project, fast transactions, and low transaction fees.
- Now you play a short waiting game as your transfer has to go through the cryptocurrency ecosystem and be confirmed multiple times.
- Under “Pairs,” you will find the abbreviation for Bonk, as well as another currency.
- Again, since you will be using your hard earned money to fund your Coinbase account, there are a few more verification steps you need to complete.
You also need to be at least years of age to sign up for an account. You can check the price and confirm the correct token address of Bonk on Coingecko. In this view, you will find a comprehensive list of places where you can buy Bonk crypto, as well as the currencies that can be used to buy it. Under “Pairs,” you will find the abbreviation for Bonk, as well as another currency. For instance, if you’d like to purchase BONK with the U.S. According to statistics from Coinglass, the funding rates for SOL permanent swaps are extremely negative, indicating that traders are bearish and shorting the token’s price.
Will the Bonk rally last?
That’s why it’s important to make your investment decisions with careful thought and advice. Limit price bascially says you want to purchase a certain amount of BONK Token (BONK) at a specific price. If the price of BONK gets to that price your order will be processed. Remember, with how volatile the market is, there is no guarantee the price will drop to your limit price.
If you are interested in an exchange paired with a Crypto Card that allows you to spend crypto virtually anywhere you might check out our Whitelist found here. CryptoWallet.com has a great range of cryptos available for you to buy, sell, and trade on its very own exchange and will list thousands of cryptos like BONK very soon. But there’s a little bit more going on with the BONK token than you might first imagine. While a crypto brokerage can be an easy way to buy and sell BONK, it may not be the safest location to store it. A hardware wallet is a great way to add an extra level of security to your crypto holdings. In terms of price movements, BONK has been extremely volatile.
Step Four: Make your first purchase of BONK Token (BONK)
To buy Bonk, you’ll need to have some Solana in your Metamask balance so you can trade it for Bonk. That is why I instructed you to buy Solana first, instead of Bitcoin, for example. How to buy bonk Click on ‘Create a new wallet’ Now type your password.’ Choose a strong password for your Phantom wallet and continue. The Solana NFT collections will get 20% of the 50% airdrops.
Since we don’t want to miss any steps in this important process, click here to view the official how-to guide from Coinbase on transferring your currency to another wallet. In the past seven days, the price of Bonk has increased by around 350%. Important memecoins, including Shiba Inu (SHIB) and dogecoin (DOGE), remained unchanged.
Step 4 – Send your Solana to the Metamask Wallet
Crypto is a highly volatile asset and therefore should only make up a small percentage of your overall portfolio, somewhere around 5%. $BONK token, on top of being a volatile crypto, is also a meme coin, meaning that a large portion of its value is driven by spontaneous popularity, random chance, and celebrity endorsement. BonkINU is the very first Solana dog meme coin that has been purposefully designed to support the Solana community. Like many others in the crypto sector, you may be wondering if BONK is a good investment given the recent drastic price movements.