How to Buy Bonk Coin BONK in 2024 Easy Guide
As such, the success of Dogecoin set a precedent for other memecoins to emerge. BONK—a memecoin on the Solana blockchain—is one of the newest and hottest crypto tokens. As 2023 ends, many are already looking at 2024 and what is to come for crypto. With the highly anticipated decisions on spot Bitcoin ETFs, Bitcoin halving and Ethereum upgrades, there is certainly some buzz around crypto at the moment.
Over time, numerous cryptocurrencies with meme-inspired branding and themes started to surface, often capitalizing on internet trends and social media hype. From there, select the “Sell” button and enter the amount to sell. With a verified Coinbase account, you can connect your bank account and fund it.
The information on this website is for educational purposes only, and investing carries risks. Always do your research before investing, and be prepared for potential losses. You’ll hopefully be able to sell your Bonk Coins for more than you originally paid.
Anti-money laundering laws can no longer be ignored by crypto exchanges. This is especially the case after the Department of Justice recently fined Binance over $4 billion for money laundering failures. Therefore, before you can buy Bonk Coin with a debit/credit card, you’ll need to complete a quick KYC process.
- Unlike most new cryptocurrencies, Bonk didn’t opt for an initial coin offering (ICO).
- Coinbase is one of the best options, as you can deposit Bonk, sell to fiat money, and withdraw the cash to a bank account.
- The token went from a market cap of less than $20 million in the beginning of November to nearly $2 billion in less than a month.
- Simply open an account with MEXC, choose a payment method (e.g. Visa), and place an order.
Put otherwise, MEXC’s web wallet doesn’t provide you with private keys, so you don’t control the Bonk Coins. The most common way to buy Bonk Coin is via a crypto exchange. Some of the most popular exchanges listing Bonk include Bybit, OKX, Gate.io, Binance, KuCoin, and Coinbase. We, however, rank MEXC as the best option – especially when it comes to low fees and safety. In a nutshell, you would only need to invest $38.59 to get 1 million Bonk Coins.
Best Hardware Wallet: Ledger Nano S
In this article, we’ll give you a quick overview of BONK’s origin story and how you can buy, sell, and trade the memecoin. The first step to purchasing BONK is to open an account on a crypto trading platform. Since BONK has only recently become popular, it is not on many exchanges right now. To get started on Coinbase, create an account using an email and verify it using a driver’s license or other form of identification. Bonk’s proponents will argue that the coins have a use case.
On the BONK page, you can select the “Buy” button and enter the amount of BONK you want to purchase. Once you select the desired amount, you can execute the trade. You should see your BONK holding appear in your portfolio. Coinbase wallet is https://www.crypto-trading.info/ a great option for those looking for more security but do not want the hassle of a physical device. It is also free, whereas most hardware wallets require purchase. You can buy Bonk safely on the MEXC exchange without paying any commissions.
Best Software Wallet: Coinbase Wallet
It is a risky investment, so it is important to take into consideration your risk tolerance and financial goals before making an investment decision. Most investors will look to buy Bonk Coin with fiat money, such as a debit/credit card or bank account. The specific process will vary depending on the exchange.
Need some more guidance on where to buy Bonk Coin in 2024? We’ll now walk you through the investment process every step of the way. If you’d like a friendly multichain wallet for crypto, NFTs, and DeFi, try us out. We offer browser extensions for Firefox, Chrome, Brave, and Edge, as well as apps for iOS and Android. Its founders have remained anonymous since the inception of the project.
Solana’s native token, SOL, is used for payments, governance and staking. Bonk’s founders believe that these alternative uses limit SOL’s ability to serve as a transactional token. They see Bonk as a solution to fill in the need for a pure transactional token on the Solana chain.
Dogecoin, launched in December 2013, was initially created as a joke by software engineers Billy Markus and Jackson Palmer. It featured the Shiba Inu dog from the popular “Doge” meme as its logo. First, you can use a decentralized exchange (DEX) to convert the tokens.
Solana is one of these and houses the memecoin, Bonk (BONK). However, the reality is that most meme coins lose investors money. Therefore, we strongly suggest that you research Bonk before https://www.cryptominer.services/ risking any funds. A good starting point is to read the Bonk Coin whitepaper. This highlights everything you need to know about the project, such as its long-term goals and tokenomics.
Step 6: Set up a Bonk Trading Order
For example, Best Wallet doubles up as a decentralized exchange, meaning you can swap coins without leaving the wallet interface. Memecoins and tokens are a relatively new phenomenon, and are closely tied to the emergence of cryptocurrencies and the culture surrounding internet memes. Caden has been involved with cryptocurrency https://www.cryptonews.wiki/ for several years, began trading and investing in crypto in 2018 and is highly experienced with DeFi technology. Currently, he mines multiple coins and holds positions in Cardano and Ethereum. During the last bull market in 2021, Ethereum provided a powerful and efficient way to create and market tokens.
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This is because Bonk is now integrated with other projects in the Solana ecosystem. For example, Bonk Coins can be used for staking on SolFarm, and as a payment method when buying NFTs on Orca. It’s also a rewards currency with several play-to-earn games. You could leave the Bonk Coins in your MEXC account, as the exchange has a solid reputation for security. However, we’re firm believers in “Not Your Keys, Not Your Coins”.
Read on to learn how to invest in Bonk in under five minutes. We also provide some background information on Bonk, including its upside potential and risk considerations. Bonk likely does not much value for the end user in comparison to other projects. However, other meme coins have been in similar situations and still seen drastic price increases. While this does not mean that BONK will appreciate, a strong community could allow it to happen.