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Today, there is more than 12,000 cryptocurrency and more are creating daily, most of them are useless but in the crowd, there are some cryptocurrencies which have something in them, due to which they get everyone’s attention towards themselves.
SafeMoon is also one of those coins that attracted people’s attention from the crowd. It has been only a few months since SafeMoon was launched but it has gained a lot of popularity.
Along with popularity, the price of SafeMoon has also grown rapidly, you must have also noticed that. Seeing the price growth and increasing popularity of SafeMoon you must have wondered what this crypto is? and is it worth investing? In this article, you will learn everything that you must to know about Safemoon.
What is SafeMoon? & How does SafeMoon work?
SafeMoon is new in the crypto market, it was launched in March 2021, like most cryptocurrencies, This Crypto also works on Blockchain technology. Blockchain is a system that records transactions in a distributed ledger. SafeMoon is built on the blockchain network called Binance Smart Chain.
SafeMoon encourages its investors not to sell, it encourages people to hold their coin for a long time. SafeMoon charges a 10% fee to the sellers of their coin.
According to SafeMoon’s official website, SafeMoon has three main features, the first is Reflection, as mentioned above, that SafeMoon charges 10% of the fee from sellers, from that 10% SafeMoon distribute 5% to all the holders.
The Second Is LP Acquisition, the 5% which remains after distributing the fee to holders, SafeMoon adds that 5% into the liquidity pool.
The Third is Manual Burn, the SafeMoon team can burn Tokens, they have burned over 425 trillion tokens so far. This reduces the supply of the token and increases the demand and price.
Who is Behind SafeMoon?
There are 6 people behind this cryptocurrency:
John Karony – Chief Executive Officer
Thomas Smith – Chief Blockchain Officer
Charles Karony – Executive Assistant
Ryan Arriaga – Global Head of Products
David B. Smith – Director Of Content
Jacob Smith – Website Developer.
Where To Buy Safemoon?
Buying SafeMoon is not easy as we cannot buy this crypto from popular cryptocurrency exchanges. SafeMoon is only available on few exchanges and the way to buy it is also little complicated.
SafeMoon is not listed on famous cryptocurrency exchanges like coinbase, Binance, and Kraken. So, you have to use exchanges like PancakeSwap, Bitmart, and Gate.io to purchase Safemoon. You can also buy SafeMoon from the official website of cryptocurrency.
How to buy SafeMoon?
To buy SafeMoon, You will need 3 things, first BNB [Binance Coin] which you can buy from Binance exchange, Second a crypto wallet, third a crypto exchange where SafeMoon is listed.
Step 1: Download Trust Wallet App from google play store or apple app store
Step 2: Create an account on Trust Wallet.
Step 3: Purchase BNB [Binance Coin] from Binance exchange.
Step 4: Enable Binance Smart Chain on Trust Wallet.
Step 5: Send Binance Coin to Trust Wallet.
Step 6: Enable SafeMoon on Trust Wallet.
Step 7: Go To pancakeswap.finance from Trust Wallet.
Step 8: Exchange Binance Coin for SafeMoon.
That’s all you just have to do these 8 steps to buy SafeMoon.
Things you should Know Before Buying SafeMoon
10% Fee For Selling
By reading till here, you must have understood that when you sell SafeMoon, you have to pay a 10% fee, whether you are in profit or loss, if you are selling your tokens then you have to pay a 10% fee.
Buying SafeMoon is not easy
As you know SafeMoon is new in the market so it is not available on most of the cryptocurrency exchanges, buying SafeMoon is little difficult than buying other cryptocurrencies, you cannot buy SafeMoon from your favorite crypto exchange with a debit or credit card, there is a different process to buy SafeMoon.
SafeMoon doesn’t solves any problems
Bitcoin takes a lot of time to complete the transaction, this was the problem for some people. that’s why Litecoin was launched, Litecoin takes less time to complete the transaction and the transaction fee is also less as compared to Bitcoin. Litecoin always tries to give its user a better experience than bitcoin.
Cryptocurrencies like Litecoin solve people’s problems and keep giving them a better experience but SafeMoon doesn’t solve any problem and also it doesn’t do much to give a good experience to its buyers.
Is SafeMoon A Good Investment?
If you look at the history of the price of SafeMoon, you will find that SafeMoon is new but its price has increased rapidly, The price of SafeMoon is still increasing quite well but will the price of SafeMoon keep on increasing like this?
SafeMoon will not be good for investing if we believe to experts and well-known websites, some website says all cryptocurrencies have a certain amount of risk, but SafeMoon is the riskiest. According to some experts, SafeMoon is very dangerous, it is a pump and dump scheme.
Only those people who have good knowledge of cryptocurrencies should invest in SafeMoon.
Can SafeMoon reach 1 cent?
SafeMoon’s price is currently very low, looking at it lot of websites say that SafeMoon will take at least a decade to reach 1 cent, but there is a famous website called currency.com, according to them, SafeMoon will take 7 years to reach 1 cent i.e. by 2028 SafeMoon will reach 1 cent.