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BONKbot Telegram Bot Guide: Fastest Way to Buy and Sell Solana Coins

Photo for the Article - BONKbot Telegram Bot Guide: Fastest Way to Buy and Sell Solana Coins

In the Solana ecosystem, there exists a trading bot that supports all the SPL tokens and can be used on one of the social media platforms that is used by the crypto community—Telegram. This bot is known as BONKbot. This is one of the ways to get in and out of Solana coins fast.

In this article, we will introduce what BONKbot is as well as how to use it effective.

(Read more: Ultimate Guide to Solana Airdrops 2023 – 2024 and 10 Potential Crypto Airdrops to Watch Out For in 2024)

(Also read: Solana Airdrop Checker Tool Guide To Check If Your Wallet is Eligible)

But before that, here’s a reminder from BitPinas!

Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.

BitPinas provides content for informational purposes only and does not constitute investment advice. Your actions are solely your own responsibility. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.

BONKbot Introduction

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BONKbot is a Telegram trading bot on Solana. It is powered by Jupiter, a Solana-based DEX that operates as a liquidity aggregator, gathering liquidity from various DEXs and automated market makers (AMMs) within the Solana ecosystem. This means that the exchange collects the best prices on all the DEXs on Solana by connecting DEX markets and AMM pools together, and sharing it to BONKbot. 

“BONKbot lets you trade in the simplest and fastest way possible, while on the move. We are the only official partner of the $BONK community,” its team expressed. 

Basically, BONKbot allows its users to just paste a token address into Telegram, and instantly send a purchase transaction. There is no waiting to connect their wallet, adjust slippage, or confirm transactions.”

In March 2024, BONKbot has achieved $250,000 in daily trading volume.

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BONKbot Setup Guide

To start using BONKbot: 

Step 1: On Telegram, search the username BONKbot_bot or go to https://www.bonkbot.io/

Step 2: Choose the “Start” button or the hyperlink “/start.”

Photo for the Article - BONKbot Telegram Bot Guide: Fastest Way to Buy and Sell Solana Coins

Step 3: Wait for the bot to create your own wallet and give the wallet address.

Photo for the Article - BONKbot Telegram Bot Guide: Fastest Way to Buy and Sell Solana Coins

Step 4: Copy the wallet address and go to your Solana wallet, like Phantom or Backpack, to deposit $SOL to your BONKbot wallet. 

Step 5: Check if the $SOL has been transferred to your BONKbot wallet. 

To buy SPL tokens:

Step 1: Type /start. 

Step 2: Choose the “Buy” button. 

Photo for the Article - BONKbot Telegram Bot Guide: Fastest Way to Buy and Sell Solana Coins

Step 3: Reply with the token name or token address. 

Step 4: Wait for the bot to reply this message:

Photo for the Article - BONKbot Telegram Bot Guide: Fastest Way to Buy and Sell Solana Coins

Step 5: Choose the “Buy X SOL” button.

Step 6: Reply with the desired amount of token in SOL to be bought. 

Step 7: Wait for the bot to confirm the transaction. 

Photo for the Article - BONKbot Telegram Bot Guide: Fastest Way to Buy and Sell Solana Coins

How to Manage Position on BONKbot

To see the curated data of the token for a better position management: 

Step 1: Type /start.

Step 2: Choose the “Manage Positions” button. 

Step 3: Wait for the bot to display the message that consists of: 

  • Current Profit, both as a percentage and as an absolute.
  • Current Value, in U.S. dollars and $SOL
  • The Market Cap of the token you bought.
  • Price Changes in the last 5 minutes, 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.
Photo for the Article - BONKbot Telegram Bot Guide: Fastest Way to Buy and Sell Solana Coins

To enable the Auto Buy feature:

Step 1: Type /start. 

Step 2: Choose the “Settings” button.

Step 3: Change the “Disabled” button to “Enabled” on the “AUTO BUY” feature. 

Step 4: Change the amount that will be bought automatically. 

To customize buy and sell configurations:

Step 1: Type /start. 

Step 2: Choose the “Settings” button.

Step 3: Change the buy and sell configurations on the “BUT BUTTONS CONFIG” and “SELL BUTTONS CONFIG” features. 

This will help the bot trade within the parameters set by the user. 

To set the slippage settings for buys and sells: 

Step 1: Type /start. 

Step 2: Choose the “Settings” button.

Step 3: Change the buy and sell configurations on the “SLIPPAGE CONFIG” features. 

This will help the bot know the slippage percent set by the user. 

How to Close Position on BONKbot

To sell tokens:

Step 1: Type /start. 

Step 2: Choose the “Manage Position” button.

Step 3: Wait for the bot to display a message.

Step 4: Choose the “Close” button. 

Step 5: Wait for the bot to confirm the transaction.

Other Features

A deep link is a kind of hyperlink that automatically directs the new user to the BONKbot’s wallet connect feature. 

Old users who will use deep links to attract new users can receive up to 5% of the fees from any trade made when the new user buys with the old user’s deep link. 

To create own deep link, formulate: https://t.me/bonkbot_bot?start=ref_<refCode>_ca_<tokenAddress> 

Referrals

To get a referral code:

Step 1: Type /start.

Step 2: Choose the “Referrals” button.

Step 3: Wait for the bot to reply your reflink. 

According to the team, reflink users will earn 30% of their fees in the first month, 20% in the second, and 10% forever.

Note: Some of the features only work on the mobile app of Telegram and is not yet available on the desktop app.

This article is published on BitPinas: BONKbot Telegram Bot Guide: Fastest Way to Buy and Sell Solana Coins

Disclaimer:

  • Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.
  • BitPinas provides content for informational purposes only and does not constitute investment advice. Your actions are solely your own responsibility. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.

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