The Ultimate Guide On Using BONKbot

Whether you’re new to crypto trading or an experienced trader, it’s always useful to be able to refer to a tutorial guide.

This guide is exactly that, a step-by-step ‘How to use BONKbot’ walkthrough to get you trading as fast as possible. 

How To Use BONKbot

Step 1: Setting Up Your Solana Wallet

To start using BONKbot, you’ll need a Solana wallet, such as Phantom or Solflare. These wallets provide robust security and easy fund management. 

After setting up your wallet, safely store your seed phrase as it will be essential for accessing your funds. 

Step 2. Funding Your Wallet With Solana 

(How to send money to your BONKbot wallet)

You can fund your BONKbot wallet from an exchange like Binance, but it’s recommended to have a Solana wallet for easier fund management.

Download a crypto exchange app, like Coinbase, Binance or Kraken. 

On the crypto exchange app, transfer money from your local currency and convert it to USDC (a stablecoin backed by the U.S. dollar). 

Then, send the USDC to your Solana wallet address, ensuring the transfer is made on the Solana chain (not Ethereum).

If your USDC is on another blockchain, you can use [Jupiter Exchange](https://jup.ag/bridge-compare) to bridge it to Solana.

Swap your USDC for Solana (SOL) using [Jupiter Exchange](https://jup.ag/swap/USDC-SOL).

Step 3: Initiating BONKbot on Telegram

Next download or open the telegram app and search by username for Bonkbot_bot, or use this telegram link.

Press start or type /start and you will be greeted by the following message.

You’ve now initialized an empty wallet. You will be buying and selling from here

Step 4: Depositing SOL to BONKbot Wallet

The next step is to send a small amount of Sol to the address from any wallet you use. Just tap on the link to copy it. 

Type /start again, and your wallet should refresh with the balance you sent.

Part 2: How To Use BONKbot For Trading

Step 5: How To Buy Tokens On BONKbot

Once your BONKbot wallet is funded, you can start trading by pasting a token address into the chat. 

BONKbot will display a “Buy” button, allowing you to select how much SOL to spend on the token.

You can customize your purchasing amounts and confirm the transaction to execute the trade instantly.

You can now buy a token using the amount you deposited, by pressing the Buy button.

Reply with the token address, or name, and you can choose how much of the token you want to buy.

Press Buy X Sol, and you can choose how much you would like to buy.

Watch as your transaction is executed instantly

Congratulations! You just bought your first token on BONKbot. 

Step 6: Managing Positions On BONKbot

Once you’ve bought your first token BONKbot allows you to monitor your portfolio, providing real-time updates on profits, market cap, and other key metrics. 

We have specially curated a selection of data that helps you be a better trader, including recent price history so you can understand trends.

You can see:

• Current Profit, both as a percentage and absolute

• Current Value, in USD and Sol

• The Market Cap of the token you bought

• Price Changes in the last 5 mins, 1 hour, 6 hours and 24 hours

• Net Profit, after subtracting Price Impact, DEX fees and a 1% BONKbot fee

• Initial Value

• Token Balance

• Profit with Slippage

• Wallet Balance

  
  

Step 7: Selling Tokens On BONKbot

To sell a token, go to the “Sell & Manage” menu, select the token, and choose the amount you wish to sell. 

BONKbot will process the transaction and convert your tokens back into SOL.

If you have multiple positions, you can cycle through them with the arrows, and you can choose to buy more, or sell some or all of your position.

BONKbot Settings

BONKbot is designed to be as easy to use as possible. This means that you can start trading as soon as you've funded your wallet with no complications.

We do have some general , and they will look something like this:

BONKbot Announcements

Occasional announcements. Tap to toggle.

Minimum Position Value

Minimum position value to show in portfolio. Will hide tokens below this threshhold. This is useful when you get rugged but for some reason you don't want to sell the token. Tap to edit.

AUTO BUY

Immediately buy when pasting token address so that you don't have to confirm. Tap to toggle.

BUTTONS CONFIG

Customize your buy and sell buttons for your dashboard when you are buying or selling a token. Tap each one of the buttons to edit.

SLIPPAGE CONFIG

Customize your slippage settings for buys and sells. Tap to edit.

To learn the best BONKbot settings as recommend by our mods and devs, read here.