Make sure to keep your seed phrase safe, and take note of your wallet address. You can also transfer cryptocurrency between exchanges, which can be beneficial if you are looking for additional features or a more competitive fee structure. The process of transferring crypto between Binance and Kucoin, or any other combination of exchanges is very straightforward.
After you register on MEXC and successfully purchase first USDT or BONK tokens, you can start trading derivatives such as BONK futures to gain higher income. Now that you bought your crypto, you can hold it in your MEXC Account Wallet or send it somewhere else via blockchain transfer. You can also trade for other crypto or stake it on MEXC Earning Products for passive income .
How to start derivatives trading easily?
If you are a new user, this is the easiest option to purchase BONK . Create a free account on MEXC Crypto Exchange via website or the app to buy BONK Coin. 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. 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.
As a rule of thumb, most crypto exchanges support both crypto-to-crypto (e.g., BONK/BTC) and crypto-to-fiat (e.g., BONK/USD) trading pairs. With this information, you’ll be armed with the knowledge and confidence required to start investing in Bonk. On most cryptocurrency exchanges, you will need Bitcoin or Ethereum to buy BONK coin. CoinMarketCap gives a list of purchase alternatives for each digital currency . Coinbase is one of the best exchanges to buy cryptocurrency with Fiat money. They make it super easy to set up the account and start buying.
Setting realistic expectations for future price growth is paramount when investing. Otherwise, you just end up hoping for the best without a concrete plan or price target in mind. With our crypto profit calculator, you can see how your investment could perform over time, set up different DCA scenarios, and use historical market data to project potential future profits. Buying Bonk via credit card or debit card is the easiest and arguably the most popular option.
Market Overview
Before buying Bonk, or any other crypto asset for that matter, there are some general things you should research. In addition, you should investigate the team behind the project and search forums and social media for any reports on security concerns. One of the most important rules each investor should follow is to never invest beyond their means. In other words, never invest more than you can afford to lose. This is doubly true in crypto, as the market can be very volatile and it is not uncommon for digital assets to go on massive price swings. In the past seven days, the price of Bonk has increased by around 350%.
Keep in mind that you’ll need to provide some personal information, including your name and email address. In order to increase withdrawal limits and unlock additional functionality like crypto loans and staking options, certain exchanges require users to complete KYC as well. You can buy Bonk on several cryptocurrency exchanges, including CoinEx, Bybit, gate.io and MEXC. Bonk is a relatively new cryptocurrency on the Solana Chain that’s been making a lot of investors excited.
Now that all the boring verification part is done, you have to add a payment method. You can choose between a Bank Transfer or Credit/Debit card. Credit Card has higher fees, but you can make an instant purchase. Bank Transfer is cheaper, but you have to wait a couple of days for the money to arrive at Coinbase.
Once you buy your Solana, go to your Binance wallet section and look for the Solana you purchased. Click on withdraw and fill up the required information. Set the network to Solana, provide your wallet address and the amount you want to transfer. Click the withdraw button and wait for your Solana to appear in your TrustWallet. You can trade BONK with stablecoins on 20 Bonk exchanges. The majority of Bonk trading with stablecoins is done on CoinEx.
Keep track of your Bonk investment performance
If you are using a desktop computer, you can download Google Chrome and the wallet Chrome extension. If you prefer using your mobile phone, you can download the wallet via Google Play or iOS App Store if it’s available. Just make sure that you are downloading the official Chrome extension and mobile app by visiting the TrustWallet’s website. Track over 10,000 crypto prices in real-time with ease. With CoinCodex, you can easily monitor your Bonk investment using a suite of crypto tools designed to make investing accessible and efficient. Ledger is one of the most secure cryoto hardware wallets for storing cryptocurrencies.
Choose how you want to buy the BONK (BONK) crypto tokens.
As of now, after its issuance on December 25th, Bonk has more than 85,000 holders and a market valuation of almost $93 million. In the past week, bonk tokens have been used in over 500,000 transactions, according to data. 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. 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 value of Bonk, the newest meme coin in town that takes pride in being the first Solana Dog coin, has risen about 370% for the past week.
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”. There are several crypto wallets to choose from within the Solana network and TrustWallet appears to be the most integrated.
Bonk is trading on 18 cryptocurrency exchanges across 21 trading pairs. The most popular Bonk pair isBONK/USDTon CoinEx, where it has a trading volume of $ 38,780. You can trade Bonk with many fiat currencies including and many stablecoins such as USDT, USDD, USDC. After funding your exchange account via one of the three options listed in the previous step, go to the trading page and search for the cryptocurrency you want to buy.
Cryptocurrency exchanges allow users to store their crypto and, in some cases, even allow them to use yield generating products to earn passive income with deposited crypto. However, storing crypto on an exchange is not recommended, as funds can be lost in the event that the exchange goes bankrupt or is hacked. Novice investors are recommended to use a simple but proven dollar-cost averaging investment strategy, which alleviates the stress of when to buy Bonk and how much to spend.
Additionally, it is essential to have a sound escape plan. On the other hand, a long-term hold could be dangerous. But every meme coin has a chance to become as popular as DogeCoin. You can undoubtedly support it to the fullest extent if you believe that it has promise on the Solana blockchain. The Solana NFT collections will get 20% of the 50% airdrops. Meanwhile, 10% will go to Solana artists and collectors.
However, they may not be executed if the specified price is not reached, even if the price moves in the investor’s favor. Additionally, limit orders may take longer to execute than market orders, as the order will only be executed at the specified price or better. In some cases, limit orders can lead to missed investment opportunities, especially if the limit is poorly defined by the investor. Gate.io is one of the pioneers of cryptocurrency trading, offering services to more than 10 million customers in over 130 countries. Tap on the button labeled “Market” near the price chart. 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.
In addition, you should be mindful of your investment approach, crypto storage, and other aspects of buying and trading Bonk. Binance is constantly reviewing and adding cryptocurrencies that can be used on the Binance platform. If you would like to buy Bonk, which is currently not listed on Binance, you can follow the step-by-step guide below. It will show you how to buy Bonk by connecting your crypto wallet to a decentralized exchange using your Binance account to buy the base currency. You can buy Bonk on cryptocurrency exchanges like Bibox, Bitforex, Bitget, BitMart and Bitrue.
It is the first Solana Dog Coin created by the people for the people. Type the amount in Solana or fiat you pretend on buying. Confirm everything is correct and click on Buy Solana.