Most trading platforms come with certain limitations, like transaction limits, high slippage, and very high conversion fees after a certain limit. Bogged Network is a trading platform based on the Binance Smart Chain protocol, giving you much-needed freedom with your transactions.
Let’s look closely at what you can expect from the platform, followed by its pros and cons and a detailed guide on how to purchase its native coins (BOG) to enjoy the freedom of high-volume transactions.
A Quick Summary
Bogged Network is a BSC-based protocol that lets you research and exchange various tokens with the platform’s tools before making a decision. The tools are complementary, which is a huge plus in my books. As a trader, you get to enjoy a much deeper understanding of your portfolio and your investment trends, pick the right coin based on your preferences, and more.
Bogged Finance, as a whole, represents a suite of advanced trading tools designed particularly to facilitate Decentralized Finance (DeFi). Some key features boasted by the Bogged Finance ecosystem include:
- Remarkable research tools for you to make better investment strategies
- Token launch sniper to give you an edge over other traders as soon as a new token is listed on platforms like PancakeSwap
- Limit orders
- Allows you to exceed transaction limits on tokens that ordinarily have transaction sizes, hence being more favored by high-volume traders
- Trailing stop-losses, reducing your liability while you trade.
- Limit orders
- Ability to purchase virtually any token on the Binance Smart Chain from within the exchange.
What is Bogged Finance?
Bogged Finance is a trading platform more commonly known in the industry for its impeccable research and ordering tools. The tools are particularly useful when you need to keep track of new tokens or when trying to identify which investment would be best (based on past performance) among a slew of similar opportunities.
The main objective here is to allow you to get the very best out of every platform like the BSC without having to spend too much time trying to understand it (both in terms of research and tools). Examples include the extremely famous and the ever-useful Token Launch Sniper.
Whenever there is a newly listed token on PancakeSwap, for example, the Sniper immediately sends you a notification, giving you a chance to buy it before it gets too expensive.
Then there is the token swap functionality, BOGSwap. The application automatically routes/reroutes any trades you make via the ApeSwap, PancakeSwap v1, and/or v2 to all the DEXes out there, helping you find the best possible exchange rates. Currently, the application can also reroute your transaction through different exchanges, hence helping you get the best possible outcome.
Unfortunately, this may mean reduced transaction speeds as well.
Case in Point…
Let’s suppose entrepreneur Mark Cuban, who went for Banana Coin (BANANA) instead of Bitcoin back in 2019, wanted to convert his holdings into Dogecoin (DOGE) or Shiba Inu (SHIB) now. Normally, the transaction would have to go through the following steps:
- Mr. Cuban would have to first list his BANANA Tokens on a platform. Assuming he used PancakeSwap to purchase the currency, he can skip this step.
- He’d then have to migrate BANANA from ApeSwap to a currency that DOGE or SHIB can be bought with.
(Tip: If you’re ever confused about which current to buy to trade currencies, go for BUSD. Almost every currency can be traded directly with it).
- DOGE is available on PancakeSwap, so he can now trade BUSD for DOGE. In case of SHIB, though, he may have to convert his BUSD v2 to BNB v1 on PancakeSwap again before he can make the transaction.
In the time it takes for Mr. Cuban to make all these exchanges, a LOT can happen. On the other hand, Bogged Network allows the same results to be achieved seamlessly with just one click of a button.
The same complex routing will be happening behind the scenes, but the platform itself will handle it. Mr. Cuban won’t have to worry about anything.
More Advanced Features with The Bogged Network
Advanced BOGSwap
Apart from the sniping and the easy swaps, Bogged Finance has also recently launched BOGSwap’s elder brother, the BOGSwap Advanced. The goal here is to help users make the most of the realities of DeFi trading.
By automatically detecting how much the upper trading limit is of a certain transaction, the medium-tier version of the tool automatically sets the highest limit to be traded whenever you will initiate a change. Of course, you can change it. If you have the premium version, you can bypass the transaction limit and make high-volume trades fairly easily.
These tiers get unlocked by holding a specific number of BOG tokens. Here is an overview of the different tiers and the benefits associated with them.
| Attribute | Tier 1 | Tier 2 | Tier 3 |
| Currency | 100 BOG | 2,000 BOG | 5,000 BOG |
| Fee Per Use | None | None | None |
| Benefits | Ability to preselect gas limit. Ability to duplicate transactions by saving settings for faster trading. No waiting for TX confirmation. | Automatic detection of transaction limits for specific tokens, ensuring you don’t exceed them. Limit buy capabilities to automatically downscale trades. This is great for launches. All unspent currency is returned. Benefits offered by Tier 1. | Ability to bypass transaction limits for all tokens, subject to gas limits set by you. Benefits offered by Tier 1 & 2. |
Trailing Stop Loss
Another advanced version of a base functionality is the trailing stop-loss, a predecessor to the stop-loss functionality. Let’s consider an example to learn how it works.
You, your teacher, and your best friend decided to buy the RugDoc Coin (not a real thing…) at $10 per coin. There are three sentiments attached with the purchase:
- Your best friend tells you that nothing will happen, and that your investment is pretty safe. So, he simply leaves his trade open.
- Then there’s you, smarter and more informed, and you know that DeFi trading is volatile. So, you create a standard stop-loss trigger (which comes with the base version of Bogged Network). This would trigger a sale if the price drops below 25% of your purchase price.
- And finally, your teacher who decides based on his experience and a financier, to set a trailing stop-loss at 25%, the same as you.
You guys go for a drink, celebrate your new portfolio, and go home. During the night, RugDoc Coin goes up by 50% before quickly falling by 100%, i.e., to 50% below the original purchase price. You all miss the action while asleep.
In the morning:
- Panic ensues at your best friend’s house as they find out that they just lost 50% of their investment. Immediately, they sell.
- You had the BogTools backing you up and therefore only lost 25%.
- Your teacher, on the other hand, wakes up to a profit of 25%.
Of course, your teacher would have the last laugh because of the trailing stop-loss of 25% that ‘trailed’ the price hike and sold all RugDoc Coins as soon as the price fell below the 25% mark at its peak.
According to the company website, it has several more improvements lined up as well, such as an improved dashboard, portfolio analysis, governance tools, and $BOG tokenomics. There is also the BOG learning platform, which might not be the best guide out there. However, it works for those who have basic crypto knowledge.
How to Get Buy BOG Tokens
Before you get ready to buy BOG tokens, you need to first create a Binance account and get your wallet ready. Here is a guide to help you buy BOG and start making informed decisions.
Step 1: Creating a Binance Account
Head over to Binance.com and create an account there. We discussed in detail how to make your account on Binance in our guide, so feel free to check it out. You will need to simply;
- Make sure the URL is secure. This is to ensure that the platform you are making an account on is real.
- Click on the Register button and follow the on-screen instructions.
- You will need;
- A valid email address
- A referral ID, if you have one
- A strong password
- Have access to your email for the 2FA (two-factor authentication) process.
- Add details about yourself, such as your country, address, etc.
- Once registered, you’re ready to buy your first bitcoin.
Step 2: Buying Bitcoin (BTC)
Before you begin, you will need to buy bitcoin. However, even with the binance account, you will need to connect a wallet to it to make purchases.
You can either connect your bank directly, through SWIFT money transfer, use your debit/credit card, or make third-party payments. Just to be safe, I would recommend the P2P transfer model initially until you are fully aware of the scams involving crypto and can recognize them easily.
However, it’s easier to connect your credit/debit card. Another recommendation is that you should go for bitcoin as your first purchase and trade it with the necessary amount of BOG. Simply:
- Click on the ‘Buy Crypto’ button at the top and choose the currency. We have chosen USD, but you can go with a range of others as well.
- Take note that only Visa and Mastercard are accepted.
- Input the desired money you want to invest. The calculator will automatically tell you how much Bitcoin amount you will get. You can also input 1 BTC directly and see what happens.
- Click on Continue once done. You will need to confirm the disclaimer and Terms of Use before initiating the transaction.
- Confirm your order by clicking on “Go to payment.”
- Fill in the credit/debit card details and click “Pay Now.”
- It will take a moment to verify. You may get an email or SMS code as well.
- You will then need to provide an official document to prove it’s you. You can do this before initiating the transaction as well.
Step 4: Connecting MetaMask
You need to connect metalmark or another wallet to lock/store your currency in and your earnings. Click on the “Wallet” button at the top right.
- Find the “Network” settings in your main settings or the “connect wallet” here to start connecting.
- The Connect Wallet button is pretty straightforward; however, it may not give you as in-depth a connection as by adding a network.
- Add the Binance Smart Chain manually, either the testnet or the mainnet. You can find more information in our Binance guide.
Now that you have your currency and wallet set up, head on over to Bogged Finance’s main website and register.
Step 5: Registering on Bogged Network
Click on “Launch App”. At the top right corner, you will see “connect wallet.” Connect your Metamask or other wallet containing your BTC.
I strongly recommend you download the app for the best results.
- Connect your wallet and click on the three lines at the top left corner.
- Tap on Swap. Before doing so, though, take a close look at the complimentary tools you have at your disposal and familiarize yourself with them.
- Tap on “Select Your Token” and select BOG and change the BNB to BTC.
- Initially, you will need to input how many BTC you want to convert. After you have 100, the “Amount in” will automatically include the max amount based on limitations.
- Input your amount and slippage. Select the Pancake Version 1, and hit SWAP.
It will take a while. However, you will receive a notification saying that your transaction is complete.
You now own BOG and are ready to farm it, stake it, and keep on earning more from what you have. Once you have acquired BOG, you will be able to take advantage of the tools it offers.
An Ever-Developing Platform… Is It Really Useful?
Bogged Network is a relatively simple trading platform and doesn’t really offer any special rates or discounts. However, it has a wide range of other benefits that could easily be sold as ‘premium’ features on other sites. At the end of the day, it all comes down to how risk-averse you are and whether you’re willing to sacrifice a better UI, speed, or even lower gas fees on other platforms for increased security.
That is not to say, though, that you can simply invest and leave your money out in the open on Bogged Network. No, you’re still going to have to circle it continuously.
Based on the potential utility listed above and compared to the benefits you lose out on from other platforms, would you say Bogged Network deserves your attention? Would you go for better decision-making tools and leave behind the versatility offered by other platforms? Or are you comfortable with having a diversified enough portfolio on different platforms? Get in touch with me on Telegram or Twitter today, and let’s discuss your strategy!
