Floki Inu is making news following Elon Musk’s fiery tweet that he has named his dog Shiba Inu as “FLOKI.” As the tweet is circulating, SHIB was experiencing high price levels.
His tweet has led many investors globally to rush to buy the FLOKI coin. As a result, the market cap and price of FLOKI have increased very quickly.
Floki Inu is a recently launched token on Binance Smart Chain. It has about 154 holders worldwide, with 304 transactions till today.
FLOKI is listing on several crypto exchanges. Unlike others, it is not directly bought with money. However, the coin can be bought by purchasing Ethereum from any crypto exchange and then transferred to the exchange that offers to trade this coin.
The Process of Getting Floki Inu On BSC
Binance Smart Chain sustains the BEP-20 token standard, while Binance Chain, the home of Binance exchange, carries the BEP-2 token standard. For you to trade on Binance exchange, you will use BEP-2 tokens. However, if you use dApps on BSC, you need BEP-20 tokens.
Step 1: Register on Binance Exchange
You will need to buy one of the major cryptocurrencies, which in this case is Ethereum. However, to accomplish that task, you have to register and have an account on Binance exchange. Ensure that you verify the KYC requirements on the DEX.
Step 2: Buy Ethereum On The Binance DEX
Once you are done, add a payment method. You can choose to add a credit/debit card or use a bank transfer. Kindly note that higher fees apply when using cards, but the process is instant. The money will reach the DEX in ETH.
Step 3: Transfer into an Altcoin Exchange
FLOKI is an altcoin. Therefore we will need to transfer the ETH purchased to an exchange that FLOKI can be trading. In this case, we use BSC dApps as our exchange.
You will be required to verify another KYC process. It usually takes between 30 minutes and a few days. You should have full access to your exchange wallet, and you can now make the transfer.
In the Recipient space, paste the wallet address. Make sure both addresses match. Input the amount of ETH and click ‘Send’ to proceed.
You should get an email alert asking you to confirm whether you want to proceed. Press the link in the email, and your coins are on the way to Binance Smart Chain. You are possibly going to wait for the deposit to be verified on the chain’s network for your coins to reach the wallet.
Buy Flocki Inu
There is a search space where you should type in “FLOKI.” Ensure that ETH is your selection because we are trading ETH to altcoin pair. In this case, it is FLOKI/ETH. Choose the pair and click the BUY FLOKI button.
Currently, the price of FLOKI IS at $0.000062 with a total supply of 10 quadrillions.