The Bonfire token has taken off and become hugely popular since its release in April 2021. In the crypto community, this is not only one of the newest tokens out there, but also one of the most ambitious.
Bonfire rewards owners with extra coins, and it achieves this by taxing those who decide to sell their tokens. In other words, Bonfire is basically inflationary tokens that work in a system known as statistic rewards.
Bonfire crypto was introduced by the Binance Smart Chain network. Its main innovative goal is to become the world’s first crypto-based social media platform.
However, this crypto is still in its infancy, so it is still developing. But, the signs are clear that Bonfire is working towards becoming a decentralized social media network where users, artists mainly, can trade NFTs amongst one another.
Behind Bonfire are an expert team of developers as well as marketing experts. With such dedication behind the project and experience, there is no doubt that Bonfire’s worth could blow up significantly if the social media platform takes off successfully.
Although new, Bonfire cryptocurrency is sparking the interest of many. If you are one of the crypto enthusiasts, then you probably want a piece of the pie too.
That is why we have created this article to guide you through some of the best methods of purchasing Bonfire tokens and where to do so.
Let’s start by taking a look at some of the best places to buy a Bonfire token.
Where Can You Purchase Bonfire Crypto?
It can be a little difficult and frustrating when trying to find the best place to purchase Bonfire crypto. Because it is still in development and relatively new to the crypto market, it is not supported by all crypto exchanges.
However, there are some popular exchanges that deal with Bonfire tokens. Here, you can register and purchase them in very little time.
The main and best exchanges to buy Bonfire crypto are:
Let’s explore how to find and buy Bonfire tokens on each of these exchanges, so you can start your Bonfire journey today.
Buying Bonfire Crypto On eToro
eToro is one of, if not, the best options for buying Bonfire crypto. This exchange is popular for not charging any commission fees.
Alternatively, users only need to pay the spread to purchase Bonfire tokens. Starting at 0.75%, this fee is one of the most competitive.
Another highlight of eToro is that you only need a minimum investment of $10 to get started. With Bonfire being relatively new, this is an attractive option for many.
To pay for Bonfire crypto, you can use credit cards, debit cards, and bank transfers as well as utilizing online payments such as PayPal and Skrill.
You also get a free crypto wallet (eToro Money) when registering. And, setting up an account is simple. eToro’s interface is very user-friendly, allowing you to get started in just a few minutes.
We believe eToro is currently the best platform for buying Bonfire crypto. So, here’s how to buy Bonfire tokens on eToro:
- Visit the official eToro website and select “Join Now” in the top right corner. Here, you need to fill out basic information on yourself such as your name, address, phone number, birthdate, and email address. You will also be prompted to upload a photocopy of your ID and a recent financial statement. This is for verification purposes.
- The second step is to deposit funds. For new users, you just need to deposit a minimum of $10. To do this, you can use your credit or debit card, PayPal, bank transfer, Skrill, Neteller, or another option that may be more suitable for you. Best of all, there are no fees attached to depositing any money.
- Now, it’s time to search for Bonfire tokens. Navigate to the main dashboard and go to “Trade Markets” and then select “Crypto.” Here, simply type in “Bonfire” in the search box.
- Once you have located Bonfire crypto, you can go ahead and purchase it. Click on the “Trade” button alongside the results that appear. In this section, type in the amount of Bonfire you wish to purchase and then press “Open Trade.” This will complete the purchase.
And, it’s as easy as that! You now own Bonfire crypto and the exciting journey has begun!
As for Binance, Crypto.com, and Coinbase, these also allow you to buy Bonfire tokens. Binance tends to offer the most competitive spreads whereas Crypto.com offers the most advanced trading options out of most exchanges.
When it comes to Coinbase, we have found that it has the best educational resources and is ideal for beginners. Overall, however, we believe eToro is the best option for purchasing Bonfire tokens at this present moment.
When Should You Buy Bonfire Crypto?
The first question many have when buying any form of crypto is, “when is the best time to buy it?” Well, when it comes to Bonfire tokens, its price changes regularly.
However, the trend so far has seen its price become lower, especially when you compare it to its all-time high-price of $$0.00000094 in May 2021.
It’s important to remember that the crypto market can be incredibly volatile. Ask the most experienced and expert crypto traders, and they will even find it hard to tell you when the best time to buy crypto tokens is.
Nevertheless, you can take into account the “buy the dip” philosophy. In this case, now is a better time than ever to buy Bonfire crypto, especially if you believe it will succeed and become a major player in the crypto world.
There is no doubt about it, Bonfire crypto is wonderfully exciting in the crypto community. Still quite new, it has the potential to become one of the major players in the market. That is why many traders are looking to invest in it today.
eToro is currently the best option for buying Bonfire tokens and, by following our guide above, you could be the owner of Bonfire crypto in just a few minutes.