BONKbot is a Telegram trading bot on Solana that allows users to easily buy and sell SPL tokens right within Telegram. It is one of the fastest and simplest ways to trade Solana tokens on the go. In this comprehensive guide, we will cover everything you need to know about how to use BONKbot for trading Solana coins

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What is BONKbot?

BONKbot is a Telegram bot powered by Jupiter, a Solana-based DEX that operates as a liquidity aggregator. Jupiter gathers liquidity and pricing data from various DEXs and AMMs on Solana to get the best available prices.

BONKbot allows users to instantly send buy and sell transactions for SPL tokens directly within Telegram, without needing to connect an external wallet or go through multiple confirmation steps. According to the BONKbot team, “BONKbot lets you trade in the simplest and fastest way possible, while on the move.”

How to Setup and Start Using BONKbot

Step 1: Find BONKbot on Telegram

Search for the username @BONKbot_bot or go to https://www.bonkbot.io/ and click “Start” to initiate the bot.

Step 2: The Bot Will Create a Wallet for You

BONKbot will automatically generate a new Solana wallet address for you to use within the bot. Make a note of this wallet address.

Step 3: Fund Your BONKbot Wallet

Go to your regular Solana wallet (like Phantom or Solflare) and transfer some SOL into your new BONKbot wallet so you have funds to trade with.

Step 4: You’re Ready to Trade!

Once your BONKbot wallet has been funded with SOL, you can start using BONKbot to buy and sell SPL tokens instantly.

How to Buy SPL Tokens on BONKbot

Buying tokens on BONKbot takes just a few quick steps:

1. Type /start to initiate BONKbot.
2. Click the “Buy” button.
3. Enter the token name or address you want to buy.
4. BONKbot will display a “Buy X SOL” button.
5. Click the button and enter the amount in SOL you want to spend to buy the token.
6. Confirm the transaction and your purchase will be executed.

Managing Your Positions and Tokens on BONKbot

BONKbot provides tools to help you manage your positions and trading strategy:

View Token Data

In the “Manage Positions” section, you can view data like your current profit/loss, market cap, price changes, fees paid, and more. This info can help you decide when to take profits or cut losses.

Use Auto Buy

Enable “Auto Buy” in BONKbot’s Settings to automatically buy more of a token at regular intervals. This allows you to dollar cost average into positions over time.

Customize Buy/Sell Amounts

Adjust the “Buy Buttons Config” and “Sell Buttons Config” in Settings to set predefined buy and sell amounts for one-click trading.

Set Custom Slippage

You can set your own slippage tolerance in the “Slippage Config” section to control the maximum price movement you will accept on trades.

How to Sell and Close Positions on BONKbot

Selling tokens and closing positions is easy:

1. Go to “Manage Positions” and select the token you want to sell.
2. Click the “Close” button for that position.
3. Confirm the transaction to close the position and sell your tokens.

The SOL proceeds will be returned to your BONKbot wallet automatically.

Other BONKbot Features

• Referrals: Earn rewards when you refer new users. Get your own referral link in the “Referrals” section.
• Deep Links: Generate deep links with your referral code to simplify onboarding for referrals.
• Mobile Optimization: Some features only work on the Telegram mobile app. BONKbot is optimized for mobile.