How to Buy Bonfire Crypto?
The fee of an Ethereum transaction is high enough for most retail users. In order to make simple transactions, investors could need to pay as much as $50, depending on the amount of available Ethereum network space. Binance announced the introduction of its Smart Contracts Blockchain, called the Binance Smart Chain (BSC), which competes with Ethereum through its low fees.
Bonfire is based on the Binance Smart Chain network. The long-term goal of BONFIRE token is to create a decentralized social media platform, so that artists can easily sell their non fungible tokens (NFTs). If that’s something you might be interested in, here is how you buy BONFIRE tokens.
Bear in mind that, whether you wanted to know how to buy BONFIRE crypto on Trust wallet or how to buy BONFIRE crypto on MetaMask, the answer is pretty much the same, so keep reading and feel free to use crypto wallet names in this guide interchangeably.
Register On A Crypto Exchange
PancakeSwap is a leading decentralized exchange at BSC. It can be accessed from a single wallet. This enables investors a simple and safe way of trading cryptocurrencies such as BONFIRE crypto on this crypto exchange. Once you are set up on PancakeSwap you are almost ready to buy BONFIRE tokens.
Buy USDT First
You are reading this because you want to know where to buy BONFIRE crypto, yes, but you can’t buy BONFIRE token directly. Instead, to buy BONFIRE tokens, we need some USDT to trade on crypto exchanges.
Use whichever fiat currency you prefer to get your hands on some USDT, keeping in mind that there is a 5% transaction fee on Binance Smart Chain network transactions. So, make sure to buy a little more than you will lose in cover fees.
If it’s any consolation, at least bear in mind that Binance Smart Chain was created precisely to minimize costs. If transaction costs are a significant factor in your investment decisions, then BONFIRE cryptocurrency and Binance Smart Chain are the way to go.
Send Your USDT To Binance
Transfer your USDT to Binance, and then swap those coins for BNB. After all, BONFIRE is a BEP-20 token running on the Binance Smart Chain network. Now, we have a token that we can directly exchange for another that’s running on the same network. Swap your BNB for BONFIRE token.
All guides on BONFIRE token out there might as well be called “How to buy BONFIRE crypto on Binance?” In this regard, they are all the same, whereas you can opt to use various crypto exchanges and crypto wallets as per your preferences.
Store Your BONFIRE Token
Finally, you managed to buy BONFIRE tokens and it’s now time to store them in a crypto wallet such as MetaMask. You might also opt to use a hardware wallet. There are several popular hardware options in the crypto world such as Ledger or Trezor, but make sure to do your own research to find the best hardware wallet for you.
Doing your own research goes double for investment advice, but make sure to take a look at multiple sources. After all, even those dishing out investment advice might have a vested interest or bias.
Do What You Want
You can HODL or you can trade BONFIRE tokens. Whichever style of investment you prefer, it’s now all up to you. Don’t allow yourself to be swayed by social media buzz either way and your crypto wallet will be healthier, and heftier, for it.
If you opted for a hardware wallet, which is the preferred method of keeping for many token holders, you can go back to popular crypto exchanges at any time to sell your BONFIRE tokens and make the rest of us token holders happy.
Be Safe And Responsible
Return to the first question in an investment: “Should I buy BONFIRE crypto?” BONFIRE token is a promising token among Binance Smart Chain tokens, but invest responsibly. Only invest what you can stand to lose.
When you buy BONFIRE tokens, or any other tokens for that matter, think of the safety of your crypto wallet foremost. Never give away the password of your cryptocurrency wallet!
BONFIRE cryptocurrency is a promising investment but it would all be for naught if you got scammed out of it. It’s a volatile market out there and scammers are on the lookout for easy money. Binance smart chain tokens are looking like a good investment these past few months so expect to be targeted by mass phishing scams and bear in mind the need for additional security.
BONFIRE is a relatively new currency with an incredible community. This early stage is the best time to jump onto a crypto project, especially as now you know how to buy BONFIRE tokens!