The cryptocurrency market’s recent signs of growth has refocused investors’ attention on projects like BONK. Despite being a relatively newer memecoin, this crypto, built on Solana, has experienced significant growth in recent weeks.
This guide aims to explore how to buy BONK, where to acquire it, and its potential price for those keen on investing.
How to Buy BONK – Quick Guide
Here’s a concise overview of how you can buy BONK before delving into the guide’s specifics:
- Step 1: Register on a crypto exchange
Select a reputable cryptocurrency exchange featuring BONK in its listings. Choose from the provided options and complete the user registration process on the exchange. - Step 2: Verify your identity
Once your account is set up, validate your identity by submitting the necessary documents, such as your identification card or video proof, as part of the KYC registration. - Step 3: Deposit funds and obtain BONK
After your account verification, deposit funds. Some platforms allow direct cryptocurrency purchases without prior fund deposits. Identify the trading pair involving BONK and ensure you deposit or acquire the specific cryptocurrency needed for this trade into your exchange wallet. - Step 4: Secure your BONK in a private wallet
Following the purchase, prioritize the security of your BONK by transferring it from the exchange’s wallet to a private one. Choose any of the DeFi wallets that allow you to exclusively possess private keys for enhanced security and control over your holdings.
Where to Buy BONK?
Since its debut earlier this year, BONK has secured listings on several premier cryptocurrency exchanges globally. Here are some top options worth considering when aiming to acquire the token:
1. MEXC
Founded in 2018, this exchange has swiftly become a primary hub for enthusiasts interested in both popular and lesser-known meme coins. Headquartered in Seychelles, MEXC exchange holds official licenses for representation in countries like the USA, Canada, Switzerland, and Australia. With over 180 trading pairs available, the platform offers a vast array of cryptocurrencies within the DeFi, metaverse, and meme sectors.
Users can access learning resources and engage in spot, margin, and futures trading on this platform. Additionally, quantitative trading, leveraged ETFs, and index ETFs have been introduced in the past few months. Serving over 200 countries and accommodating more than 6 million users, the exchange stands as a reliable option for purchasing BONK.
However, at present, the token is exclusively available for purchase in the USDT pair, necessitating users to hold USDT to buy BONK from the MEXC exchange.
For spot trading, market and taker fees remain fixed at a modest 0.2%. Nevertheless, the exchange often offers promotional events with reduced fees to attract customers, along with other incentives for new signups. Deposits on the platform are free, while withdrawal fees depend on the chosen method and cryptocurrency.
As of the current writing, there have been no reports of fraud, money laundering, or related issues associated with the exchange, a positive indicator of its trustworthiness.
Pros
- Holds key licenses in the U.S., U.K. and Australia
- Zero deposit fee
- Extensive memecoin selection
- Offers futures trading with up to 125X leverage
- Over 180 trading pairs
- Restricted in multiple countries
- No fiat withdrawals
2. Binance
Binance stands as arguably one of the most popular and widely utilized cryptocurrency exchanges globally, boasting a user base of over 90 million customers worldwide. Over the past couple of years, it has ascended to a significant level and is currently among the most renowned crypto entities.
For investors eyeing BONK, Binance emerges as an excellent option due to its provision of multiple trading pairs, including USDT, TRY, FDUSD, and more, enabling diversified purchasing avenues for the token.
For more details, check out our Binance review.
Originally founded in China, Binance holds the distinction of being the largest crypto exchange by trading volume, with a daily trading volume of $76 billion recorded approximately a year ago. Its inception in 2017 led to becoming the world’s largest exchange within a mere 180 days, and it presently caters to numerous countries.
Additionally, the exchange features a dedicated version of its platform specifically tailored for U.S. citizens, as the original platform is restricted in the country.
Binance employs a tiered fee system, ranging from regular users to VIP 9, wherein fees decrease based on the deposited amount and trading volume on the exchange. Regular users encounter a 0.10% maker-taker fee, while BTC and ETH investors trading in the spot market currently enjoy fee-free transactions.
Offering access to over 350 listed cryptocurrencies and thousands of trading pairs, the Binance ecosystem encompasses various entities such as Binance Exchange, Labs, Launchpad, Info, Academy, Research, Trust Wallet, Charity, NFT, and more. This extensive ecosystem facilitates Binance’s swift identification and listing of cryptocurrencies like BONK on its exchange.
Nevertheless, you can still check out our list of Binance alternatives.
Pros
- Largest crypto exchange by trading volume
- No fee for Bitcoin trading
- Educational resources available
- Offers access to a widespread crypto ecosystem
- Access to multiple promotional events, perks and more
- High liquidity for a majority of assets
- Has faced some regulatory issues in the past
3) Coinbase
Established in 2012 by ex-Airbnb engineer Brian Armstrong and former Goldman Sachs trader Fred Ehrsam, Coinbase stands as one of the earliest and most renowned cryptocurrency exchanges. It garnered attention within the finance industry by becoming the first-ever crypto company to be publicly listed on the stock market.
Originally based in the U.S., Coinbase functions as a crypto trading and investment platform, allowing users to easily buy, sell, exchange, and securely store cryptocurrencies.
The platform offers an intuitive and beginner-friendly interface supporting basic transactions, along with a digital wallet. Simultaneously, the Pro version presents more advanced trading features catering to experienced users. Operating as a completely remote company without physical offices, Coinbase serves over 100 countries and hosts more than 250 major crypto assets.
Its fee structure operates on a maker-taker model, ranging from 0% to 0.40% for maker fees and 0.05% to 0.60% for taker fees, depending on the total USD trailing 30-day volume.
The exchange proves to be an excellent option for potential BONK investors, offering seamless token purchases and safe storage within what it claims to be one of the safest online wallets globally.
Meanwhile, check out our Coinbase vs Binance guide to discover the one that delivers the best services among the two.
Pros
- Competitive fee structure
- Paypal support
- High safety integrations
- Reputed platform
- Liquid ETH Staking
- High fee for regular users
4) KuCoin
Established in 2017, KuCoin stands as a prominent cryptocurrency exchange dedicated to facilitating the seamless global exchange of digital assets. Recognized as the “people’s exchange,” KuCoin prioritizes user-friendly design, a simplified registration process, and robust security measures.
It caters to diverse trading needs by offering futures trading, a built-in P2P exchange, credit/debit card cryptocurrency purchases, and instant exchange services. Notably, KuCoin was among the first platforms to list BONK upon its launch earlier this year.
Accumulating a lifetime trading volume exceeding 1.2 trillion and amassing a user base of over 30 million globally, KuCoin currently holds a position among the top 5 cryptocurrency exchanges worldwide.
Founded by experienced professionals in the finance industry, the exchange operates internationally, headquartered in Seychelles, with additional offices in Hong Kong and Singapore, extending its services to users across more than 200 countries.
KuCoin offers an extensive array of trading pairs featuring nearly 700 cryptocurrencies and is committed to delivering a comprehensive platform for buying, selling, and trading digital assets.
Pros
- Advanced trading features
- Good customer support service
- Wide range of crypto
- Provides staking services
- Low fee requirement
- May be difficult to navigate for new investors
What is BONK?
During Christmas in 2022, the BONK initiative, as a project constructed on the Solana ecosystem, distributed tokens through airdrops to many of its users. It was conceived as a potential frontrunner in the Web3 space’s community coin arena. Subsequently, BONK witnessed an explosive surge in adoption, establishing itself as a fundamental element within the vibrant, community-driven Web3 ecosystem.
At present, the project boasts an impressive community base, with over 649,000 holders and more than 100 integrations across various Web3 projects, extending its support to 10 different blockchain networks.
In contrast to traditional meme coins such as Shiba Inu and Pepe coin, which operate on the Ethereum chain (ERC-20 tokens), BONK has chosen to utilize newer, more cost-effective chains like Solana and Binance Smart Chain (BSC). This strategic choice facilitated faster scaling and endowed the token with a tangible “utility” aspect despite its meme coin nature.
BONK, as described on its website, prioritizes community engagement, evident through its extensive integrations with Web3 partners, ranging from wallets to NFTs and gaming platforms.
Naturally, this innovative concept propelled the token to rapidly gain traction in the market, securing listings on several prominent exchanges and swiftly surpassing a $1.5 billion market cap milestone within a few months. Presently, BONK holds the position of the third-largest memecoin by market cap, closely trailing Shiba Inu and Dogecoin.
While sharing similarities with other meme tokens, BONK distinguishes itself through its unique attributes. It serves as one of the pioneering Solana-powered meme tokens, diverging from the earlier trends in blockchain technologies. By not relying on the expensive Ethereum chain, it offers more affordable gas fees, a feature that has captured the interest of a significant portion of crypto enthusiasts looking for reduced transaction costs.
BONK Price
As mentioned previously, BONK was initially introduced through an airdrop to many ecosystem participants before its official launch in the market. However, unlike many of its counterparts, the token did not follow a typical price trajectory characterized by sharp rises followed by significant plunges that persist for several years.
The project began with a price range of approximately $0.0000001, according to CoinMarketCap. It then swiftly ascended to the $0.000004 range before experiencing a decline back to a lower price point. Nonetheless, in October of this year, prices began a new upward trend, reaching an all-time high (ATH) of about $0.000004, where it stabilized for roughly a week.
Following the breach of this resistance level, BONK witnessed a substantial price surge, propelling it to the $0.00001 level earlier in December. However, this level has also been surpassed, as the token recently achieved another ATH of $0.000028.
At the time of writing, BONK is trading significantly below its most recent ATH, currently priced at $0.000022, with a market cap surpassing $1.2 billion. Additionally, the token has experienced a notable increase in traded volume over the past few weeks and is anticipated to continue growing further as the cryptocurrency market sentiment turns more bullish in the upcoming months.
BONK Price Prediction
BONK has recently experienced a surge in price, signalling the project’s potential growth in the coming months, particularly amid the current bullish sentiments in the market. Despite a period of stagnation over the past couple of months, the recent upward trend of Solana, the blockchain supporting BONK, has contributed to the token’s value increase.
The token’s ATH at launch stood around $0.000004 in January. However, this resistance level was breached in November, leading to a significant price surge of over 136% in less than a month, elevating the token’s current value to $0.000022. Notably, community engagement surrounding the token has surged, evident from the increased social media following on platforms like Telegram and others.
To commemorate its Airdrop anniversary, the project initiated several competitions and promotional events, further fostering engagement and growth for the token. Overall, BONK has displayed healthy and promising growth, potentially indicating further expansion.
However, investors should exercise caution as the token has already experienced substantial price increases. Waiting for a slight correction might be advisable for those seeking more favorable entry points.
Considering recent developments, growth metrics, community engagement, and more, we anticipate the BONK token could trade between $0.00004 to $0.000049 by the end of 2023. This prediction relies on consistent growth and sustained interest from its community. Otherwise, we anticipate the token to remain within the existing price range or possibly experience further correction, potentially dropping back to the $0.00001 range again.
For more information, read our Bonk Price Prediction Guide.
Ways to Buy BONK
There are several methods to purchase BONK, thanks to its growing popularity and availability on numerous top exchanges.
While these methods might vary in availability across different platforms, here are some common ways investors can expect to acquire BONK tokens.
Trading Pairs – Cryptocurrency:
The most prevalent method involves purchasing BONK tokens through exchanges via available trading pairs. These pairs could include USDT or other cryptocurrencies supported by the exchange. However, it’s essential to possess the required trading pair, which can be obtained directly on the exchange or deposited from another wallet.
Debit/Credit Cards:
Using debit or credit cards is a traditional method for acquiring cryptocurrencies. Nevertheless, purchasing BONK with credit or debit cards might be challenging since the memecoin isn’t as widely recognized as top cryptos like Bitcoin or Ethereum. Still, some centralized or decentralized exchanges might offer the option to buy the token using these cards, making it worth exploring while considering adding the token to your portfolio.
PayPal, GPay, etc.:
Certain cryptocurrency wallets, like Moonpay, facilitate direct token purchases, including BONK. Additionally, if available, you might have the option to purchase tokens using GPay or similar payment methods. For PayPal, you can use it as a payment method on peer-to-peer (P2P) platforms. This involves finding a BONK sell order on such a platform and offering payment via PayPal.
The tokens would remain with the platform until both parties confirm the PayPal payment, after which they would be released to your wallet.
If you are a beginner, we recommend that you check out our guide on how to buy cryptocurrency safely.
Which Crypto Wallets Support BONK?
As the token operates on Solana, any multi-chain wallet that supports Solana will effectively handle deposits, withdrawals, or swaps involving the BONK token. There are numerous options available such as Exodus, Trust Wallet, Atomic Wallet, Phantom Wallet, and more that you can utilize to securely store your BONK tokens.
Is BONK a Good Investment?
As a relatively new cryptocurrency in the meme sphere, BONK is experiencing high engagement levels in its current phase. Sustaining this engagement over time, according to Jacob Bury, could facilitate further scalability and a substantial price increase.
However, a decline in popularity or a lack of strong utility might trigger a correction, potentially bringing the token’s value back down to the $0.00001 level. Nevertheless, given its current status as one of the most significant meme coins in the industry, developers may aim to introduce additional utility to the project, potentially bolstering its price over time.
Dogecoin20: A Better Alternative To Bonk?
Meanwhile, an enticing alternative for investors lies in the Dogecoin20 project presale, which many believe could replicate the growth pattern witnessed by the original Dogecoin. and providing users with a greener, more sustainable version of Dogecoin.
Designed on the Ethereum blockchain, Dogecoin20 pairs the original imagery, the original total supply, and the original ethos of Dogecoin with a new mechanic to give it long-term perks. Known as staking, this utility is modeled after the emission schedule of Dogecoin. However, unlike Dogecoin, whose emission schedule results in more tokens in the market, Dogecoin20’s emission distributes 15% of its limited supply of 140 billion tokens over the course of two years.
This attribute alone makes scarcity a key factor behind Dogecoin20’s growth. Another key perk of this project is that a portion of the treasury has been dedicated to charitable causes, which means the more Dogecoin20 grows, the more people will be helped. Being a community-centric token, Dogecoin20 will also give the community complete control of the asset when the time arises, allowing its ecosystem to grow by itself and leading to the emergence of more utilities.
The meme coin is currently available as a presale and has raised more than $3.5 million already. Those who are interested in Dogecoin20 can visit the official website before the current presale stage ends.
Conclusion
BONK has swiftly risen to prominence as a top meme coin within the cryptocurrency realm, despite being just about a year old. This recognition positions it well to further solidify its presence in the crypto space, potentially paving the way for collaborations and partnerships with other projects. These associations could contribute to increased exposure, expanding engagement, growing the community size, and ultimately augmenting its value.
However, given the volatile nature of meme coins, it’s crucial for investors to exercise caution before allocating significant amounts of money to projects like BONK.
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FAQs
What blockchain is the BONK crypto built on?
BONK is built on the Solana chain, which is a cheaper and faster alternative of the famed Ethereum chain.
When was BONK launched?
BONK was airdropped to investors during Christmas in 2022, but the token was officially made available for public trading in January 2023.
Is BONK available on centralized exchanges?
Yes, BONK i s available on multiple centralized exchanges like MEXC, Binance, Coinbase, KuCoin and more.
