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BONK token can be purchased on various crypto exchanges by non-Solana community members. After the airdrop is complete, 50 trillion Bonk Inu Tokens (BONK) will be available for purchase. The developers promise numerous integrations, as well as the prospect of future voting among BONK holders. With this information, you’ll be armed with the knowledge and confidence required to start investing in .

• If you go to CoinMarketCap, you can see a list of exchanges that now offer trading in Bonk, some of which have deep relationships with Solana.
• Let’s start with the obvious similarity — the Bonk mascot is a lovable Shiba Inu dog.
• On Dec. 24, the coin was only airdropped to people active in the Solana community, such as creators of new Solana non-fungible token (NFT) collections and Solana developers.

Make sure you don’t save your backup phrase on anything digital. After you wrote down your backup phrase, confirm everything is correct and click “Done”. To finish this part, you’ll need to go through the ID verification process. Proceed, and now you’ll have to verify your email address by clicking the link on the email they sent you.

What is Bonk Coin (BONK), How and Where to Buy?

If not, just follow the same steps as before except skipping the whole setting up a Coinbase account since you already took care of that. When you purchase using a Credit Card, you will be able to purchase immediately and have access to trade your coins right away. Only downside is that your weekly purchase limit on a Credit Card will be around $750 when you first open your account.

According to Coinglass, the recent price increase wiped off almost $6.7 million in short positions. Since the collapse of the FTX exchange and the accompanying market meltdown in November, this is the largest short liquidation. The reason for SOL’s price decline in late 2022 is the FTX meltdown. Approximately $643 million in SOL is under the custody of liquidators as part of Alameda Research’s bankruptcy proceeding (an FTX subsidiary). All of this is leading investors and businesses to distance themselves from Solana, or at the very least not pursue its blockchain as their only option. The token has already seen steady growth in the Solana ecosystem as it strives to become the network’s first big community token created “by the people, for the people”.

Verify and deposit funds

Although there are certainly similarities between Bonk and Shiba Inu, there is reason to be skeptical about any meme coin, especially one as new as Bonk. BONKSWAP allows users to perform fast transactions with low fees. You can also pay with BONK Coin, the platform’s own token, or earn profits by providing liquidity on the platform.

When deciding whether to invest in BONK, consider factors such as your risk tolerance. If you have done your own research and concluded that BONK is a good investment, then it may be worth looking into purchasing the token. Overall, BONK does not sport the same use How to buy bonk cases as other large tokens, but it has its niche in the dog-themed meme coin space. After your transfer of your crypto from Coinbase to your exchange’s wallet is confirmed, you’ll want to initiate a trade of that specific cryptocurrency for BONK Token (BONK).

Learn how and where to buy BONK Token

Click on ‘Get Started’ and add your Legal Full Name, Email, Password, and State. They’ll ask for verification on everything you put here, so make sure you only use your real name, State, and email. For your safety, choose a very strong password that you haven’t used on any other account.

Cryptocurrencies are digital currencies that operate in a decentralized manner. These currencies are backed by blockchain technology and are directly transferred between users. Cryptocurrencies have become an attractive investment vehicle for many people, but they also carry high risk. BONK Coin is a cryptocurrency that has gained popularity recently. In fact, the crypto asset, which is not a coin but a token, used the term coin as the project name.

Step by step guide on how to buy BONK Token (BONK) cryptocurrency with USD

Do you own diligence and research the project further so you can make your own decision. To have your previously purchased Solana on your Phantom wallet, you have to send it from your Coinbase account to your Phantom wallet. The Bonk coin is issued by the decentralized organization BonkDAO, which is based on the Solana blockchain. Prior to December of last year, only those who actively follow the Solana development had heard of it. Create a Bitpanda account and confirm your email address.

It has been integrated into existing projects on the Solana chain. For example, Duel Casino allows you to make bets on popular casino games with BONK. Another example is Aurory, which allows users to play games against other players and earn BONK for winning.

The bottom line is that what constitutes the best exchange hinges on your particular set of needs. With that in mind, let’s look at some of the best crypto exchanges in the market. Buying cryptocurrencies can seem daunting at first, especially for those who are new to the world of digital assets. However, with the right knowledge and tools, buying can be a very straightforward process that includes choosing a crypto exchange, creating an account, verifying it, adding funds, and making a purchase. The easiest way to buy Bonk is via decentralized exchanges built on top of the Solana blockchain.

5) You should now be signed into (or be able to sign in) your Coinbase account. 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 can buy cryptocurrency, generally with your preferred payment method, through easy and smooth partner integration.