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Friday, May 27, 2022

How to Buy Floki Inu (FLOKI) • SHIBA Killer • Benzinga

Want to jump straight to the answer? You can buy Floki Inu (FLOKI) on Gate.io and Uniswap.

Floki Inu (FLOKI) is a spinoff of the wildly popular Shiba Inu (SHIB). It is based off of an Elon Musk tweet in which he stated that his Shiba Inu (dog breed) would be named “Floki.” This sent waves throughout the crypto community and led to the creation of Floki Inu. It gained steam on Twitter (NASDAQ: TWTR), bolstering over 50,000 followers, or as they refer to them, “Floki Vikings.” It is currently trading around $0.00005, with all time highs of over $0.000075. 

What is Floki Inu (FLOKI)?

Floki Inu is a cryptocurrency memecoin that entices risk-tolerant investors with its low price per token.. It operates on the Ethereum and Binance smart chains. The project has huge ambitions, including a Tesla giveaway and $100,000+ in charitable donations. The project is also looking to do work in the NFT sphere, helping with the distribution of NFTs in their own NFT games and selling of their own merchandise. However, these goals are unlikely to happen anytime soon. The project aims to link utilization and community. They want to make a platform that is useful and easy to use while creating a close-knit community of token holders. Holders are given rewards for storing the token, similar to coins like SafeMoon. These rewards are mostly given to the largest wallets, presenting a pyramid-scheme like structure. The coin currently has over 85,000 holders, with a market cap of $474,986,268. 

Brief History of Floki Inu (FLOKI)

Floki Inu was created shortly after Tesla CEO Elon Musk tweeted that his Shiba Inu would be named Floki. The project is hoping to be more than just a memecoin, looking to offer Floki Inu for in-store purchases and their own marketplace, “Flokiplace.” The coin is the only project to partner with Elon Musk’s brother, Kimbal Musk and his Million Gardens Movement. The movement is aiming to tackle food insecurity worldwide. Initially listed for less than millionths of a cent, it soared over 250,000% in September 2021.

How to Buy Floki Inu (FLOKI).

Now that you understand the goals and structure of the project, you may be interested in purchasing the coin. Fortunately, doing so is not too difficult.

  1. Open an online account.

    One way to purchase FLOKI is through an online exchange. Because the project is very new, it is only offered on a select number of exchanges. Gate.io is the easiest to navigate and offers the quickest route to FLOKI ownership. 

    Gate.io offers thousands of cryptocurrencies, one of which is FLOKI. To purchase FLOKI, you first must create an account on Gate.io. Doing so is easy and just requires an email and password. Next, you must fund your account. 

    Gate.io does not allow for fiat (U.S. dollar) transfers, so you must send cryptocurrency from another exchange account. For U.S investors, Coinbase, Gemini and Crypto.com are great choices.

  2. Buy a wallet (optional).

    Wallets differ from exchanges in that they let you hold custody of your digital assets, whereas a crypto exchange holds your private keys. You can choose from multiple forms of virtual wallets. Depending on how you go about buying FLOKI, having a wallet may be a necessity.

  3. Make your purchase.

    Once you have a balance in your MetaMask account, you can link the wallet to the Uniswap interface. If you use Gate.io, you can send your crypto directly from the exchange you purchased your ETH on. Using Gate.io, navigate to the FLOKI/USDT pair. To purchase FLOKI, you will have to swap the token with USDT. Choose the amount of USDT you would like to swap for FLOKI and execute the trade.

    Afterwards, you should have FLOKI in your Gate.io account. On Uniswap, navigate to the “Swap” section. Select the FLOKI/WETH pair. You can then use your balance to swap your ETH for FLOKI, similar to the process on Gate.io

Best Crypto Wallets for FLOKI