The Ultimate Guide and Review for BONKbot
BONKbot, a game-changer in the realm of Telegram trading bots, specifically designed for the Solana ecosystem. Developed in partnership with the $BONK community, BONKbot distinguishes itself by offering a seamless, efficient, and user-friendly trading bot for trading any SPL token directly via Telegram. This article is an in-depth guide on how to use BONKbot and an overview of its features.
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BONKbot revolutionizes the trading process by eliminating the common hurdles associated with crypto transactions. Traditionally, traders must navigate through several steps to execute a trade, including connecting wallets, finding the correct DEX, adjusting slippage settings, and confirming transactions. BONKbot simplifies this trading process significantly. By merely pasting a token address into a Telegram chat, traders can instantly send a purchase transaction, with routing powered by Jupiter, ensuring speed and reliability.
Key features of BONKbot
- Auto Buy: For traders looking to gain a speed advantage, BONKbot offers an Auto Buy feature, which allows immediate purchases upon pasting a token address, bypassing confirmation steps for faster transaction execution
- MEV Protection: In partnership with Jito Labs, BONKbot provides MEV protection, safeguarding transactions from front-running and ensuring traders receive the best possible outcomes
- Managing Positions: Post-purchase, BONKbot offers comprehensive tools for managing positions, displaying vital information such as current profit, market cap, price changes, and net profit after fees
- Deep Links: Facilitating ease of integration, BONKbot introduces deep links that directly connect users to specific tokens via referral links, enhancing the platform’s utility for community builders and content creators
- Security: Recognizing the paramount importance of security in the crypto space, BONKbot employs AES256 encryption to protect users’ private keys, ensuring a secure trading environment
Step 1: Getting started with BONKbot — setting up your Solana wallet
The first step in utilizing BONKbot is to have a Solana wallet in order to fund the BONKbot wallet. Popular choices among users include Phantom and Solflare, known for their user-friendly interfaces and robust security features.
Download and install your chosen wallet from the official website or app store. Follow the on-screen instructions to create a new wallet. Remember to safely store your seed phrase; it’s your key to accessing your funds.
You can also fund your BONKwallet from an exchange such as Binance, but it is recommended to also have a Solana wallet in order to move funds around easier.
Step 2: Initiating BONKbot on Telegram
With your wallet ready and funded, it’s time to engage with BONKbot. Open BONKbot on Telegram. Start a chat with the bot by clicking on the “Start” button. This action initiates the bot and prepares it for your trading commands. BONKbot’s user-friendly interface within Telegram makes it exceptionally accessible for traders of all experience levels.
Step 3: Depositing Solana (SOL) to BONKbot wallet
Before you can trade, you need to deposit some SOL into BONKbot. The bot provides a unique address to which you can send SOL from your wallet (blacked out section in the image above). Tap on the link to copy this address. Next, open your Solana wallet app, select “Send,” and paste the BONKbot deposit address. Enter the amount of SOL you wish to deposit and confirm the transaction. This SOL will be used to fund your trades through BONKbot.
Alternatively you can deposit assets from centralized exchanges, but this is not recommended.
Step 4: Buying tokens
With funds in your BONKbot account, you’re ready to trade. To buy a token, paste the token’s address into the chat with BONKbot. The bot will promptly display a “Buy” button. Clicking this button will open a menu where you can specify the amount of SOL you wish to spend on the token.
By clicking “Buy X SOL” you can set custom amount of SOL you want to use to purchase targeted token. It is also possible to change the default purchasing amounts from settings (1 and 5 SOL in image above). Confirm your purchase, and BONKbot will execute the transaction, adding the purchased tokens to your positions
BONKbot also provides links to Solscanner, Birdeye, and Rickbot scanner tool if you wish to get more information about the token.
Step 5: Managing and selling your positions
After purchasing tokens, BONKbot allows you to manage your positions effectively. You can view your current profit, the value of your holdings in USD and SOL, and other relevant data to inform your trading decisions. To sell a token, navigate to the “Sell & Manage” menu, select the token you wish to sell, and choose the amount. Confirm your sale, and BONKbot will process the transaction, converting the selected token back into SOL.
(Extra) Step 6: Referral system of BONKbot
You can invite friends to trade and earn based on their fees. Current BONKbot referral system is as follows:
You will earn 30% of fees in the first month, 20% in the second and 10% forever
In addition to regular referral program, BONKbot has also deeplinks where you can create token-specific invites (image above).
Conclusion
BONKbot emerges as a potent tool for Telegram users and meme coin enthusiasts within the Solana ecosystem. It shines in its simplicity and speed. You are also supporting meme culture by using BONKbot through their unique Buy and Burn feature, which uses 100% of trade fees to purchase and burn $BONK tokens, supporting the ecosystem and reducing token supply.
Links and documentation for BONKbot
- Website: www.bonkbot.io
- Twitter: https://twitter.com/bonkbot_io
- Documentation: https://docs.bonkbot.io/
- Trading bot: https://t.me/bonkbot_bot?start=ref_bwlvc
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