How to Buy and Sell Shares (Keys) on Friend.tech: A Beginner\'s Guide

Friend.tech has taken the crypto world by storm, offering a new way to engage with influencers and build communities. But how exactly do you navigate this decentralized social media application and start trading shares (now renamed \'keys\')? This comprehensive guide will walk you through the entire process, from setting up your account to making your first trades.

What is Friend.tech?

Friend.tech is a decentralized social media application on the Base network. Built on Coinbase’s layer-2 network Base, it\'s revolutionizing how users interact with each other online. The core concept revolves around users owning personalized shares and purchasing other users’ shares to be able to interact with them.

Understanding Friend.tech Shares (Keys)

Originally called "shares," these tokens have been rebranded as "keys." When you buy a key of another user, you essentially gain access to a private chat room where you can directly interact with them. The value of these keys fluctuates based on supply and demand, driven by factors like the user\'s popularity and perceived influence.

Step-by-Step Guide: Buying and Selling Keys on Friend.tech

In this video I walk through the entire process of setting up a friend.tech account and starting to trade shares (now renamed \'keys\') in crypto personalities. However, here\'s a detailed text-based walkthrough:

1. Setting Up Your Friend.tech Account

Get an Invitation Code: Friend.tech initially required invitation codes to join. While this may have changed, it\'s always a good idea to check the latest news. You can often find codes shared on Twitter or Discord.
Install a Crypto Wallet: You\'ll need a crypto wallet compatible with the Base network, such as MetaMask or Coinbase Wallet.
Bridge ETH to Base: Fund your wallet with ETH and bridge it to the Base network. This is essential for buying and selling keys. You can use bridges like the official Base bridge or other reputable options.
Connect Your Twitter Account: Friend.tech uses Twitter for authentication and profile linking.
Link Your Wallet: Connect your crypto wallet to your Friend.tech account.

2. Finding Users and Buying Keys

Browse the Platform: Explore the Friend.tech platform to discover users whose keys you\'re interested in buying.
Analyze Key Prices: The price of a key is determined by a bonding curve, meaning the price increases as more keys are bought. Consider the user\'s potential growth and influence when deciding on a price.
Purchase Keys: Click on the "Buy" button next to the user\'s profile and confirm the transaction in your crypto wallet.

3. Selling Your Keys

Monitor Key Value: Keep an eye on the value of your keys. If you believe the price is peaking or you need to free up capital, consider selling.
Sell Keys: Click on the "Sell" button next to your owned keys and confirm the transaction in your wallet. Remember that selling a key will disconnect you from the user\'s private chat room.

Tips for Success on Friend.tech

Do Your Research: Before buying keys, research the user\'s activity, engagement, and potential for growth.
Manage Your Risk: Friend.tech is a volatile market. Only invest what you can afford to lose.
Stay Active: Engage with the community and network with other users to increase your visibility and potentially boost the value of your own key.
Be Aware of Scams: Be cautious of fake accounts and pump-and-dump schemes. Verify the authenticity of users before investing.

Friend.tech: A Decentralized Social Media Revolution

The explosively popular social token platform Friend.tech allows users to buy and sell tokenized shares of influencer accounts. While still relatively new, Friend.tech represents an exciting development in the world of decentralized social media. By understanding the mechanics of buying and selling keys, you can participate in this innovative platform and connect with influencers in a new and engaging way. Always remember to prioritize research, manage risk, and stay informed to navigate the Friend.tech landscape successfully.

Overview