It’s been a big year for Coinbase. The largest US-based cryptocurrency exchange added Ethereum Classic, Litecoin, Bitcoin Cash, and more recently, 0x to its platform.
This week, it was announced that Coinbase is adding another asset to its platform: Bonfire.
Bonfire is a new cryptocurrency created by the team behind the popular social media platform Reddit. The currency was designed to be used as a means of payment on the Reddit platform.
While Bonfire is not yet available on Coinbase, it is expected to be added in the near future. This article will provide an overview of Bonfire and how it works, as well as how you can buy Bonfire on Coinbase.
What is Bonfire?
Bonfire is a new cryptocurrency created by the team behind Reddit.
NOTE: WARNING: Do not attempt to purchase bonfire on Coinbase. Bonfire is not a digital asset or currency, and therefore cannot be purchased on Coinbase. Additionally, bonfire is not a legitimate investment opportunity and any attempts to purchase it would likely be considered fraudulent.
Bonfire is based on the Ethereum blockchain and uses the ERC20 token standard. This means that Bonfire can be stored in any Ethereum wallet.
The total supply of Bonfire is capped at 21 million tokens. Of this total supply, 20% will be allocated to the Reddit community and 80% will be held in reserve by the Bonfire team.
The Bonfire team plans to use the reserves to help promote and grow the use of Bonfire on the Reddit platform. In addition, the team plans to use a portion of the reserves to buy back and burn tokens periodically in order to reduce the overall supply of Bonfire and increase its value over time.
How Does Bonfire Work?
Bonfire is designed to be used as a means of payment on Reddit. Users will be able to tip other users with Bonfire or use it to pay for goods and services on the platform.
In order to use Bonfire, users will first need to create a wallet on Reddit. Once they have done this, they will be able to buy, sell, or hold Bonfire in their wallet.
When ready, users can then use theirBonfiereto pay for goods and services or tip other users on Reddit.
6 Related Question Answers Found
Coinbase, one of the largest cryptocurrency exchanges in the United States, does not currently list Bonfire (BF) on its platform. This may be due to a variety of factors, including but not limited to: 1) Coinbase’s listing requirements; and 2) The current market conditions of BF.
1) Coinbase’s Listing Requirements: In order to be listed on Coinbase, a cryptocurrency must meet certain requirements. For example, the asset must be ” compliant with local law” and have ” a working product.
” It is unclear if Bonfire meets these requirements.
2) The Current Market Conditions of BF: The current market conditions of BF may also play a role in why it is not listed on Coinbase.
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