Shiba INU’s massive success and popularity (Dogecoin Killer) have inspired other miners to develop something more compelling and competitive in the market. That is how Floki INU – the Shiba Killer is gaining massive popularity among crypto investors.
A meme coin named after Elon Musk’s Dog has become the hot cake of the blockchain market as everyone wants to invest in this coin. After hitting its all-time high Floki coin price in November 2021, the coin is currently down by 95.34%, giving investors an excellent opportunity to invest in it. So, if you are also wondering why and How to Buy Floki Inu coins in 2022, here is everything you need to know.
- Why is Floki Coin Unique and worth buying?
- What is the current price and market supply of Floki coins?
- Where to buy Floki Inu Coins online?
- How to buy Floki Inu Coins reliably and easily?
- Step 1: Create an account on Coinbase
- Step 2: Link a Payment Method to Coinbase Wallet
- Step 3: Buy USDT with Fiat Money
- Step 4: Sign up on the Gate.io platform
- Step 6: Paste the “Deposit Wallet Address” to Coinbase
- Step 7: Exchange USDT for Floki Coins on Gate.io
- Step 8: Store FLOKI coins in a reliable Software or Hardware Crypto Wallet
- Is Floki Coin a Good Investment? – Market Analysis & Prediction
Why is Floki Coin Unique and worth buying?
Instead of being known as another dog meme coin, this coin calls itself a “movement” to build a close-knit community of Floki Vikings. The coin operates on both Ethereum and Binance Smart Chain blockchain.
Floki coin originated after the popular tweet of Elon musk, stating that the name of his Shiba Inu dog would be Floki. After that tweet, dedicated Floki Vikings launched the coin with over $10 billion market capitalization.
The community wants to grow in the NFT space and engage in various charitable donations. The coin doesn’t just want to be another meme coin and thus is currently working on three flagship utility projects :
- Valhalla – Floki-based gaming metaverse based on NFT where the Floki coin can be used as a game token to buy special powers & accessories. The team plans to incorporate characters like Pokemon and Skyrim in the game, where these creatures will be known as Vera. Players have to battle with these creatures and grow their crops to be later sold as NFTs. This way, the community wants to popularize earning NFTs and coins through games.
- FlokiPlaces – A marketplace where traders can buy and sell NFTs and merchandise from various artists using the Floki coins.
- Floki Inuversity – A content channel and education platform to educate beginners about Blockchain trading and investment tricks.
It has a dedicated and passionate community of over 100,000 members who want to make this coin a utility token in the Blockchain world. Like Safemoon holders, people who own Floki coins also get rewards for storing the token using the pyramid-scheme structure.
The coin has also collaborated with Cryptocart and Curate to use Floki coins as a payment method on their platforms to purchase physical goods and other items in over 1700 stores.
These efforts and collaborations set this coin apart from meme coins like Kuma Inu, LGB, Saitama, Catgirl, etc to create a decentralized and autonomous ecosystem. It is already becoming more like a utility token that can be used in the future at more physical stores as a revolutionary payment method.
What is the current price and market supply of Floki coins?
The current Floki coin price is $0.000016, with a 1.89% rise in the last 24 hours. The coin has a total supply of 10 trillion, and its 24-hour trading volume is $13,478,429. Floki Coin was first tradable on July 9, 2021. There are over 200,000 Floki holders combined on both ETH and BSC networks. The coin is currently ranking at #2774 on CoinMarketCap. [stats as of Aug 1, 2022].
Do you know that Floki is the only project collaborating with Elon Musk’s brother Kimbal Musk in his million garden movement? After announcing this collaboration, the coin attained its all-time high value, i.e., $0.0003437 (with a 92.97% increase) in November 2021.
Where to buy Floki Inu Coins online?
Floki Coin is listed on more than 25 major crypto exchange platforms. Unlike other cryptocurrencies, you cannot buy this coin directly through fiat money as it is an altcoin.
First, you must buy a stable/major cryptocurrency like BTC, ETH, or USDT and then exchange it for Floki coins on any supported altcoin exchange platform. Some of the famous and reliable crypto exchange platforms supporting Floki Inu trading are:
- Gate.io – FLOKI/USDT
- Uniswap – FLOKI/ETH
- Giottus – FLOKI/INR
- Huobi Global – FLOKI/USDT
- DigiFinex – FLOKI/USDT
Currently, the coin charges a 3% marketing tax on every purchase, which goes for developing the Floki Inu ecosystem. However, the team plans to reduce this tax once enough funds are collected.
How to buy Floki Inu Coins reliably and easily?
To buy Floki Coins in the easiest and cheapest possible way, I will first buy USDT on Coinbase – one of the largest crypto exchange platforms. Then I will exchange it for Floki coins on Gate.io as it has low gas fee than on other platforms like Uniswap or PancakeSwap. Let’s get started:
Step 1: Create an account on Coinbase
If you are a new Coinbase user, you first have to register on the platform and complete the KYC process by following these steps:
- Head over to this link on your device and enter all the required details like your email id, name, password, etc. Click on the “Create Account” button to proceed further. If you have a referral code, you can enter it while registering on the platform to avail free $10 worth of BTC on the trading of $100 BTC.
- Go to your registered email id to verify the confirmation email received there. Log into your account and add your mobile number as two-factor authentication.
- Follow all the instructions on the screen to complete the automated KYC process (15-30 minutes). Once your KYC is completed and approved, you can access the full features of the Coinbase wallet.
Step 2: Link a Payment Method to Coinbase Wallet
Once your Coinbase wallet is active, link a payment method to add Fiat money to your wallet for buying any stable coin. To add a payment method, follow these steps:
- Go to the “Settings” of your Coinbase account and choose the option “Add a Payment Method.”
- You can see various payment methods like Paypal, debit/credit card, bank transfer, etc. If you want to deposit a small amount for instant purchase, go for Paypal or the Debit/Credit card option (which usually charges a high fee). Otherwise, choose the Bank transfer option for large transactions that will take a while with low fees.
- Follow the instructions on the screen for the desired payment method, and now you can add Fiat money to your account using that payment method.
Step 3: Buy USDT with Fiat Money
- Go to the “Buy/Sell” option on the upper navigation bar of the platform and click on the “Buy” option. Choose “USDT” from the list of assets and enter the amount of USDT you wish to purchase using your local currency.
- Select your payment method and click on the “Preview Buy” option to check your transaction details before proceeding further.
- Click on the “Buy Now” option to finalize your purchase. Your purchased USDT coins will reflect in your Coinbase wallet within a few minutes.
Step 4: Sign up on the Gate.io platform
Once you have USDT coins in your Coinbase wallet, you have to transfer them to your Gate.io wallet, for which you have to first register on the platform. To do so, follow these steps:
- Head over to this link on your browser and enter your details to register on the platform by clicking the “Create Account” button.
Verify the confirmation email received on the registered mail id and follow all the instructions to complete the KYC process on the platform.
Step 5: Copy the “USDT Deposit Wallet Address” on Gate.io
After the approval of the KYC process, your gate.io wallet is fully functional. Now, to transfer USDT coins from Coinbase to Gate.io, you have to copy the deposit wallet address of the USDT wallet in Gate.io. To do so, follow these steps:
- Go to the “Wallet” option in the upper navigation bar and choose the “Deposit” option. Alternatively, you can go to your wallet, select “Spot Trading”, and then the “Deposit” option. Choose the “USDT” currency option from the list of assets. You can also use the search bar to search for the currency if not visible in the list.
- Under the deposit tab, copy the “wallet address” beneath the QR code to paste it into another platform from where you want to transfer that currency in your gate.io wallet.
Step 6: Paste the “Deposit Wallet Address” to Coinbase
After copying the USDT deposit wallet address from the Gate.io platform, you have to paste it into your Coinbase account. To do so, follow these steps:
- On your dashboard screen’s left side, click the “Buy/Send” option and choose the “Send” option.
- Choose the “USDT” currency from the list of cryptocurrencies, and under the recipient field, paste the copied USDT deposit wallet address.
- Click on the “Pay With” option and choose the asset to send the funds from. Review your transfer details and click on the “Continue” option to finalize your transfer.
Step 7: Exchange USDT for Floki Coins on Gate.io
Once you have received USDT coins in your Gate.io wallet, you can now use them to exchange for Floki coins. To buy Floki coins via USDT on the gate.io platform, follow these steps:
- Go to the “Markets” option on the upper navigation bar of the dashboard and choose the “Spot trading” option.
- Under the search bar, type “Floki” and click on the “FLOKI_USDT” pair.
- Scroll down to the “Buy Floki” section and click on the downward arrow next to the “Price USDT/FLOKI” option. Since Gate.io doesn’t allow you to trade the coins at the market price immediately, you have to set a price at which you want to buy them. Thus choose the “Last Price +1%” option.
- Choose the percentage of USDT coins you want to exchange for Floki coins. If you will utilize all the coins, click on the “100%” option or choose accordingly. Click again on the “Buy USDT_FLOKI” option to confirm your purchase. When the Floki coin hits the desired price on which you want to buy these coins, they will be credited to your gate.io wallet with a notification.
Step 8: Store FLOKI coins in a reliable Software or Hardware Crypto Wallet
After buying Floki Coins, it is always advisable to store them somewhere securely where hackers cannot access your information. Since the Floki coin is based on the ETH network, you cannot use ETH-based crypto digital wallets to keep your coins secure. If you want to store them digitally, the two best and most reliable software crypto wallets you can use are:
Both the wallets are encrypted with a passkey that can be accessible only by you, making it hard for hackers to access your crypto wallet information. Also, the information is not kept on their servers, thus less prone to hacking incidents. Still, if you want to keep your crypto information entirely offline, you can use a Hardware wallet for an extensive crypto portfolio.
A hardware wallet is a USB-enabled device that is more secure and ideal for securing your large crypto portfolio offline. All the information regarding your crypto wallet remains in the USB and is only shared on the network while trading. Thus these wallets are hard to hack and highly secure. Some of the best hardware crypto wallets available in the market are:
You have to download its official software from their website to activate and make your Hardware crypto wallet function. After installation, set up your wallet by following the instructions, and now you can trade between multiple crypto platforms through your wallet.
1. Is Floki coin safe to buy?
Yes, the Floki coin is safe for trading as it is built on the two most secure blockchain networks, i.e., Binance Smart Chain (secured via the proof-of-stake census mechanism) and the Ethereum network (secured via the proof-of-work census mechanism. Like many other coins built on the ETH network, Floki Inu follows ERC-20 as the standard token.
2. Who are the founders of Floki Coin?
Unlike the other meme coins, the creators behind the Floki coin are public but with pseudonymous names, like: MrBrown Whale, PetaByte Capital, Sabre and B.
3. Can the Floki coin hit a $1 value in the future?
It is unlikely for the Floki coin to hit a $1 value in the future with such a high market supply. But the real turnaround depends upon its listing on Coinbase Currently, the Floki coin is listed on other crypto exchange platforms like Gate.io, Uniswap, etc., but not on Coinbase. So, if the coin gets listed on Coinbase in the future and a large portion of it gets burned, it might hit the $1 mark in the coming years.
4. Can we buy Floki coins with cash?
No, it is not possible to buy Floki coin directly with cash as it is an altcoin, and you can purchase it via some major or stable coin like ETH, Tether or BTC. But you can use crypto exchange platforms like LocalBitcoins to buy these major cryptocurrencies using various cash options like Cash deposit, etc., and then buy Floki coins on any altcoin exchange platform.
5. Can we buy Floki Inu on coinbase?
No, the Floki coin is currently not listed on Coinbase, but you can expect it to be there soon. Currently, you can buy a stable coin like ETH, Tether, BTC, etc., on Coinbase using the Fiat money and can exchange it on other platforms mentioned in this article to buy Floki coins.
Is Floki Coin a Good Investment? – Market Analysis & Prediction
On the day of its launch, i.e., 10th July 2021, the coin was worth $0.00000361. But the next day, the coin saw impressive growth and hit a value of around $0.00000463. It performed exceptionally well; by December 2021, the Floki Inu market cap was approximately 1.06 billion dollars. It is an incredible growth record for a coin to attain in such a short time, especially when plenty of dog-theme-based meme coins are ruling the market.
In the last 30 days (July 1st – August 1st), the low and high values of Floki coins are $0.000005777 /$0.0000166, respectively, giving investors an excellent opportunity to invest in this coin. Until now, the coin has promised a lot and delivered up to some extent by some strategic collaborations.
So, it will be interesting to see whether the coin can keep all the promises it has made in the future. But if it happens, the coin will definitely see incredible growth. So, if you believe in this coin, this is probably the right time to invest in it for at least a short period.
Disclaimer: All the Floki crypto prices and data provided in this article are based on the coin’s current growth and by no means is financial advice for anyone. Traders should do their research before investing in any kind of cryptocurrency