Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your research before making any investment decisions. For more information, please read our full disclaimer.
So you're interested in joining the Sonic revolution, I see?
A word of warning: this is a bit of a meaty guide with much information.
I’ve tried my best to simplify much of it, but crypto is quite a large beast!
If you can get through this, the possibilities are endless, and it will open up many doors for you. So, grab a cup of tea, sit back and take your time churning through the content.
If you have any questions, we have a telegram community open!
So, before we go gun blazing, I need you to understand something about the token "S".
"S" token is Sonic's native cryptocurrency.
It serves multiple roles within the network:
- Transaction Fees: These are used to pay for network fees when executing transactions.
- Staking: Users can stake $S tokens to secure the network and earn rewards.
- Governance: Token holders can vote on proposals and changes to the chain.
By holding S Token, you are investing in Sonic's future and gaining access to its growing ecosystem. This token allows you to participate in governance, staking, and various DeFi applications within the Sonic network.
Make sure you always keep a little bit of "S" in your DeFi Wallet at all times so you can process transactions; it's the fuel that drives any activity on-chain.
// How To Buy $S
If you're looking to buy S Token, you have several options:
- Option 1: Purchase from a centralized exchange (CEX)
- Option 2: Buy on a decentralized exchange (DEX)
- Option 3: Bridge assets from another blockchain
Some options will be better suited to your existing experience within crypto.
For beginners who’ve never had exposure to DeFi (on-chain trading), I recommend Options 1 and 2.
If you already have some assets in your DeFi Wallet, option 3 is your place to be!
// Option 1: Purchase from CEX
A CEX (Centralized Exchange) in crypto is like a bank for trading digital assets, where a company manages the platform, holds users' funds, and matches buyers with sellers, making it easy to trade but requiring trust in the exchange to keep funds safe.
Centralised Exchanges that support “S”:
Steps:
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Create an Account: Sign up on any CEX listed above, and make sure they support your region, as some Exchanges are region blocked.
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Complete KYC (If Required): Most CEXs require identity verification for FIAT deposits and withdrawals.
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Deposit Funds: Add funds to your account using a bank transfer, credit/debit card, or another supported payment method. Usually, a CEX will automatically convert your FIAT into USDT. USDT is a stablecoin pegged 1:1 to the value of USD (United States Dollar) and is the standard currency used to purchase crypto on CEXs.
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Buy S Token:
- Navigate to the trading section.
- Search for S Token (trading pairs could be S/USDT, S/BTC, etc.).
- Place a market or limit order to buy S Token.
Example of a trading interface of a CEX, this is ByBit, but most look the same.
5. Confirm Transaction: After placing an order and seeing it execute, check your CEX wallet to see if you own the asset.
If everything went smoothly, congratulations! You now own Sonic!
Optional but recommended next steps:
Keeping your S Token on a centralized exchange means you don’t truly own your tokens.
They are held in the exchange's custody, whereas withdrawing to a self-custodial DeFi wallet eliminates counterparty risk while also enabling access to Sonic’s ecosystem applications, such as staking, liquidity provision, and governance, and protecting against exchange downtime, withdrawal pauses, or potential delisting that could temporarily restrict access to your funds.
Below, I’ve outlined how we will send our CEX tokens to our newly created DeFi wallets.
If you haven’t already set up a DeFi Wallet, our previous guide shows you how; click here.
Steps:
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Select a Sonic-Compatible Wallet: Choose a DeFi wallet that supports Sonic Layer 1, such as Rabby or Metamask.
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Copy Your Wallet Address: Open your DeFi wallet and locate your S Token deposit address.
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Initiate Withdrawal on the Exchange: Go to the withdrawal section of the CEX you’ve chosen, select S Token, and paste your DeFi wallet address.
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Choose the Correct Network: To prevent funds from being lost, ensure you select Sonic as the withdrawal network.
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Confirm and Pay Fees: Double-check the address, confirm the withdrawal, and be aware of any network fees associated with the transaction.
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Verify Receipt: Once the transaction is complete, check your wallet balance to confirm the S Token has arrived. An ETA on funds is usually sent to you depending on the exchange. Usually <10mins.
By withdrawing your S Token to a self-custodial wallet, you gain full ownership and can actively participate in the Sonic ecosystem without relying on third parties.
Welcome to decentralised finance, friend. All the power to you.
// Option 2: Purchase from DEX
If you prefer self-custody and decentralization and want to avoid using CEXs, you can buy S Token directly with FIAT from a DEX to your DeFi Wallet.
At the time of writing, Sonic's native DEXs do not support FIAT payments, so we will use a trusted client called “ChangeNOW.”
Steps:
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Set Up a Wallet: Use a Sonic-compatible DeFi Wallet like Rabby or MetaMask
(You should have done this already; if not, read previous guides here) -
Buy S Token with FIAT (your native currency; USD, AUD, CAD, SEK) using ChangeNOW:
- Go to ChangeNOW.io and select S Token as the cryptocurrency to purchase.
- Choose your preferred FIAT payment method (credit/debit card, Apple Pay, or bank transfer, depending on availability).
- Enter your Sonic-compatible DeFi wallet address as the destination.
- Complete the payment, and S Token will be sent directly to your DeFi wallet.
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Verify Receipt: Once the transaction is complete, check your wallet balance to confirm the S Token has arrived. Depending on the client, an ETA on funds is usually sent to you. Usually <10mins.
// Option 3: Bridging Existing DeFi Assets
Some of you may already have assets in your DeFi wallets on Ethereum, Solana, or another blockchain and would like to participate in Sonic’s Ecosystem.
This option utilises a third-party “bridge” to send assets from one blockchain to the other.
One of my favourite bridges is DeBridge, a highly credible and fast bridge with many assets available.
Steps:
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Connect Your Wallet to DeBridge dApp
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Under “You Pay”
- Select the chain that you’re sending assets from
- Choose the token you have that you wish to use
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Under “You Receive”
- Select Sonic as the receiving chain
- Choose “S” as the token to receive
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NOTE: If you are sending from a non-EVM address, like Solana, it will ask you to provide a Sonic Address.
- Go into your DeFi Wallet and copy your address and paste it into DeBridge
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Confirm and Pay Gas Fees:
- Bridges require transaction fees.
- Approve and complete the bridging process.
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Verify Receipt:
- Once the transaction is complete, check your wallet balance to confirm that the S Token has arrived. Depending on the client, you are usually sent an ETA on funds. DeBridge is known for its speed, so it’s usually instant.
Final Thoughts: You’re Now Part of the Sonic Revolution
Congratulations, you’re officially in the game if you've made it this far.
Buying S Token isn’t just about holding another cryptocurrency; it’s about becoming part of a growing ecosystem that’s redefining DeFi.
Whether you picked it up through a CEX, DEX, or bridge, you now have the keys to unlock Sonic's full potential.
