Bonk (BONK), emerged as a leading dog-themed memecoin operating on the Solana Blockchain and made significant strides in 2024. In May, it reached an all-time high market cap of $2.7 billion, solidifying its position among leading memecoins like DOGE, SHIB, and WIF. As investors anticipate an altcoin season, the potential for increased investment in memecoins like BONK is high, making it crucial to understand this cryptocurrency better. In this article, you can find answers to two frequently asked questions: What is Bonk (BONK), and how to buy Bonk (BONK) with TRY.
What is Bonk (BONK)?
Bonk is a cryptocurrency built on the Solana Blockchain, similar to other cryptocurrencies like Cardano and Solana. It stands out due to its unique tokenomics, especially its token burn mechanism.
Bonk gained significant popularity following a major AirDrop to the Solana community in December 2022. Unlike other cryptocurrencies that offer specific utility functions, Bonk grows through community engagement, excitement, and online culture.
Bonk’s success is largely attributed to its community-driven nature and meme-inspired appeal. However, its value is highly speculative and subject to significant volatility. Despite this, BONK has positioned itself as a useful memecoin through various side projects contributing to its positive price movement in 2024. Speculation remains the primary driver of value for BONK, as with most memecoins.
The Bonk ecosystem has expanded significantly thanks to the efforts of developers and the community. It includes three main features: Bonk Swap, Bonk BOT, and Bonk Rewards. Each of these projects plays a crucial role in the ecosystem’s growth, offering users opportunities to trade, manage their tokens, and earn rewards for their participation.
Bonk Swap is a decentralized exchange (DEX) built on the Solana Blockchain and aims to be a central hub for trading memecoins and other cryptocurrencies within the Bonk ecosystem. With a user-friendly interface and high transaction speeds, this platform makes it easy for users to swap tokens and participate in liquidity pools to earn rewards. Key features include memecoin trading, liquidity pools where users can earn transaction fees and esBONK rewards, and yield farming by staking BONK to earn additional rewards.
Bonk BOT is a Telegram bot designed to facilitate interactions within the Bonk ecosystem. It allows users to purchase BONK tokens directly from Telegram, eliminating the need to switch between 
applications. The bot also offers functions like checking token prices, setting price alerts, and participating in AirDrops. This makes it a convenient tool for users to stay engaged with BONK and manage their investments easily.
Bonk Rewards is a program that encourages users to lock their BONK tokens. By doing so, users can earn rewards from various Bonk ecosystem products like BonkBot, SVB (Solana Validator Business), and BonkSwap. This creates a feedback loop where the success of these products translates into increased rewards for users supporting the ecosystem by locking their tokens. Key features include BONK locking, reward tiers based on the amount of locked BONK, and ecosystem support contributing to the overall growth and sustainability of the Bonk ecosystem.
How to Buy Bonk (BONK) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy Bonk (BONK). On Binance TR, where accounts can be created quickly, over 100 cryptocurrencies, including BONK, can be traded. To buy Bonk (BONK) with TRY on Binance TR, you can follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. For this, you need to go to the trbinance.com address and proceed from the “Create Account” step. In the first step of account creation, you will be asked to enter basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and accurately, email/sms verification will be done to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is one of the security procedures that must be completed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can choose to complete the verification process from your phone or through the official Binance TR website. Note that you will need your mobile phone to verify from the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on the “Identity Verification and Limits” option from the drop-down menu, and then click on “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process with your phone. If you cannot scan the QR code, you can click on the “Copy URL” option to send the identity verification address to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first tap on the “Identity” option to continue.
Then a screen like the one below will appear. To continue with the verification process, first select the document type that suits you.
After selecting the document type, you can continue by tapping on the “Upload Front” option. After taking a photo of the front of the document according to the document type you selected, tap on the “Upload Back” option and take a photo of the back of the document and upload it. When taking photos of the front and back of your ID card or driver’s license, make sure the images are clear and the information in the photo is easily readable.
Then you can continue by tapping on the “Selfie” option. At this point, your phone’s front camera will open, and you will need to scan your face. Once the camera is open, make sure your face fills the camera area as much as possible.
After completing all these steps accurately and completely, your identity verification process will be completed shortly.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account from all banks. You can deposit TL 24/7 and make uninterrupted transactions from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. For other banks, you can deposit up to 50,000 TL 24/7 with FAST. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first go to the “Wallet” option at the top left of the homepage on trbinance.com and click on the “Deposit” option from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. All you need to do now is use the information shown on the page of your preferred bank to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy BONK Coin with TL on Binance TR?
After the deposit process, you can proceed to the TL to BONK coin purchase step by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
After clicking on this option, the page below will open. From the search section on the right side of this page, type “BONK” and click on the BONK/TRY option from the results to go to the TL to BONK purchase page.
Now the BONK trading page below will open. On this page, in the area marked with a red box, you need to enter the price at which you want to buy BONK in the first box and the number of BONK you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy BONK” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR in 2020 for cryptocurrency investors in Turkey. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) through direct bank channels via Binance TR and trade various cryptocurrencies with TRY trading pairs.
Users supported by Binance’s core functionalities with Binance TR gain access to market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls.
