How to Buy Bonk (BONK)

Want to jump straight to how to buy Bonk? You can buy BONK on Coinbase.

Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) have gained popularity in the crypto world, primarily fueled by social media and community engagement. While many are built on the Ethereum blockchain, alternatives like Solana are emerging, offering faster transactions and lower fees, as seen with Bonk (BONK). These trends show the evolving nature of meme-driven cryptocurrencies within the broader blockchain ecosystem.

How to Buy Bonk (BONK)

Here’s how to buy BONK coin in three easy steps.

1. Open an Online Account

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. However, it is available on popular platforms including Coinbase, Binance, Crypto.com and Kraken. To get started, create an account using an email address. You will need to verify it using a driver's license or other form of identification in compliance with the Know Your Customer (KYC) rules of the Securities and Exchange Commission (SEC.)

2. Fund Your Account

Once you've verified your account, you can easily transfer funds and make deposits using a variety of methods offered by most trading platforms. These methods typically include credit card or debit card payments, wire transfers and cryptocurrency deposits sourced from other exchanges and wallets. To proceed, simply select your preferred payment method, follow the on-screen instructions, enter the desired deposit amount, and pay attention to any transaction fees that may apply. Once you've confirmed your transaction, your funds should be available in your trading account, allowing you to start investing with ease.

3. Purchase Bonk (BONK)

Once your account is funded, you can navigate to the BONK page. 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.

Bonus section: Keep an eye on new crypto exchanges listing BONK. Coinbase recently listed the token, and the price responded positively.

What Is Bonk (BONK)?

BONK is based on the Solana blockchain. During the last bull market in 2021, Ethereum provided a powerful and efficient way to create and market tokens. While Ethereum is still the second-largest token by market capitalization, some are starting to look at other blockchains as an alternative. These people believe that other chains are better than Ethereum for long-run use, with features such as faster transactions and lower costs.

Solana is one of these chains that crypto enthusiasts are interested in building further. Bonk was born out of this desire. Primarily used for payments and as an investment, Bonk is “the first Solana dog coin for the people by the people.” 

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.

This idea has worked before, most notably with Dogecoin (DOGE). The token also serves primarily as a form of payment and was adopted by Elon Musk’s Tesla. Customers can pay for their cars in DOGE.

Brief History of Bonk (BONK)

BONK was released via an airdrop in December 2022. The token saw an initial price spike right after the airdrop but leveled out for most of 2023. However, in November and December of 2023, BONK’s price spiked. The token went from a market capitalization of less than $20 million in the beginning of November to nearly $2 billion in less than a month. In the past year alone, Bonk saw a growth of over 8,000%. As of writing, BONK is trading for around $0.00001734 and has a market cap of $1.22 billion, maintaining its position in the top 60 largest crypto.

Its founders have remained anonymous since the inception of the project. However, they did burn their supply of the tokens to support price appreciation. 

Where to Buy Bonk (BONK)

Crypto trading is gaining popularity. As a result, investors have more options for purchasing stablecoins, altcoins and meme coins like Bonk. Here are some of the top platforms to consider for buying BONK.

How to Store BONK Safely

While you can store your BONK on Coinbase, this does not give you full discretion over your funds and does not allow you to take full advantage of the BONK ecosystem.

A cryptocurrency wallet allows users to store and manage their tokens with greater control and security. There are two main types of crypto wallets: software wallets, which require an internet connection, and hardware wallets, which store tokens offline on a physical device.

• Best Hardware Wallet: Ledger Nano S

Ledger is a hardware wallet for securely storing crypto, including Solana assets like BONK. It offers three models: the budget-friendly Nano S Plus, the more advanced Nano X with additional features like Bluetooth, and the Stax.

• Best Software Wallet: Coinbase Wallet

Coinbase Wallet is a wallet service that allows users to hold funds independently of Coinbase and supports most major blockchains. It offers security without the need for a physical device and is free, unlike many hardware wallets that require a purchase.

Trade, Sell or Convert Your Bonk (BONK)

To get rid of your BONK, you have a few options. First, you can use a decentralized exchange (DEX) to convert the tokens. A DEX is a peer-to-peer transaction network that allows users to convert tokens for a small fee. These can be accessed with a cryptocurrency wallet. 

Additionally, you can sell your tokens on a cryptocurrency exchange like Coinbase. To do so, navigate to your position on Coinbase. From there, select the “Sell” button and enter the amount to sell. You will then receive USD in your account. 

Current Crypto Prices

Monitoring cryptocurrency prices is important for informed buying decisions. The chart offers insights into the movements of major cryptocurrencies like Bitcoin, Ethereum, Solana, and Dogecoin to aid investment strategies.

Is Bonk (BONK) a Good Investment?

Bonk likely does not have 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. It is a risky investment, so it is important to take into consideration your risk tolerance and financial goals before making an investment decision. 

Frequently Asked Questions