What Is Safemoon And How To Buy It Right Now?!

SafeMoon is the new kid on the block, a new cryptocurrency that is talked about the most right now as of May 1st, 2021. In this article, I will cover two topics; What is SafeMoon and how can you buy it right now. Although it has been talked about a lot lately, it remains almost impossible to purchase some SafeMoon coins. And despite the hype and the fanbase behind this altcoin, it is still a bit puzzling to fully understand what the Coin is for, its purpose, and how we could use it.

As you might already know, SafeMoon is an altcoin, a blockchain-based digital currency that is similar to Bitcoin. However, there are some clear distinctions between the two.

What is SafeMoon?

SafeMoon is another digital asset that seeks to fulfill decentralized finance ambitions. Just like many other coins, SafeMoon runs on blockchain technology. It is a decentralized finance (Defi) application, and it allows a wide variety of trading, liquidity providing, and yield farming operations.

It has a clever strategy for rewarding long-term owners. SafeMoon is a blockchain-based currency that is trying to create an investment vehicle with exit fees.

As explained by Clayton Moore, CEO of NetCents Technology: ‘Unlike most other cryptocurrencies, SafeMoon penalizes investors who sell it by imposing a 10% exit fee. Half of that fee is redistributed to all holders, while the other half is burned. The company promises to implement a burn strategy that is beneficial and rewarding for long-term holders.’

It was launched back in March of 2021 and has already racked up over 1 million users to date!

Although SafeMoon has rapidly gained success over just the past month, it has not been listed on many major crypto exchange platforms just yet, and users have been eager to find out the easiest way to purchase it. Buying SameMoon coins has been close to almost impossible. Due to all the steps and all the platforms users have to jump through just to buy some coins.

How to Buy SafeMoon

The developers have listed the following steps on how to buy SafeMoon. However, these steps have proven ineffective due to the long process and some of the tools being new, hence not working properly. So the steps will be listed in this article, given the fact that the team could improve the tools involved over time.

Ps. You cannot purchase SafeMoon on Coinbase just yet. Buying SafeMoon is a mind-warping process right now. You will need to purchase BNB (BinanceCoin) and convert it into SmartChain before you can acquire SafeMoon tokens.

PancakeSwap Instructions (How to buy SafeMoon):

Download the app, Trust Wallet
Purchase BNB or BSC
Go to the DApps tab at the bottom, and find PancakeSwap. iPhone users may need to enable the trust browser, then use the browser tab. You can also click the BUY NOW button on our website if you are not on mobile.
Click “Select a currency” and enter this contract address into the search field, and you should be able to find SafeMoon. 0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3
Before swapping, click on the cogwheel (Settings icon) and set the slippage to between 11-12%
Now, set the amount you want to purchase and press the swap button.
Confirm the transaction.

Steps from SafeMoon developers

Ps: WhiteBit.com and BitMart.com are now open for trading!

As of now, you’d have to transfer your funds into either one of these apps, or websites if you are on a desktop. Deposit some funds (USD to USDT), then swap your USDT to SafeMoon. (This is subject to change soon.)

Is SafeMoon safe?

For the time being, SafeMoon might just be a tool for speculators.

Crypto influencers and connoisseurs have warned investors multiple times about the token’s reward structure and the lack of details regarding its liquidity pool.

Similar to Dogecoin, if not 2x more aggressive, SafeMoon popped up on Twitter, seemingly out of nowhere, and has been the center of attention, stealing all the shine from Dogecoin, and going up ever since.

However, if you are an avid fan of this currency and want to see it succeed, you can keep learning about it as we go, and as we get more information from their Developer Team.

It is always encouraged to do a deep dive before making a purchase, and you should use your best judgment regardless of any advice you might get on a coin, token, or currency in general.

For those who have not yet heard of what seems like the newest craze in crypto-currency – we are talking about SafeMoon here folks – well, get ready because they have got something up their sleeve that is certainly going to seem appealing. The team at Safemoon has been hard at work on giving users more incentive than simply figuring out which direction prices will go next as most traders do with other currencies (Bitcoin included).

In contrast, keep in mind that SafeMoon has yet to prove that it can achieve some functionality beyond simply being a tool for speculators. It is clear that the SafeMoon team wants to reward loyal users, but the cryptocurrency has no real use at the moment.

Here are some mentions in this article: (Pancakeswap, Coinbase, Dogecoin, Trust Wallet, Whitebit, Bitmart)

What is Pancakeswap: PancakeSwap is a decentralized exchange for swapping BEP-20 tokens. With PancakeSwap, you can trade BEP-20 tokens, or add liquidity and earn rewards and more.

What is Coinbase: As stated on their website, Coinbase is a secure online platform for buying, selling, transferring, and storing digital currency. Aiming to create an open financial system for the world and to be the leading global brand for helping people convert digital currency into and out of their local currency.

What is Dogecoin: Dogecoin is a cryptocurrency, initially invented as a joke, it is now a payment system that is free from traditional banking fees. Dogecoin features the face of the Shiba Inu dog from the “Doge” meme as its logo and namesake.

What is Trust Wallet: It is a decentralized wallet, allowing you to hold the keys to your cryptocurrency wallet. It gives control to the end-user in that they control their wallet and transactions. It also gives you access to DApps (Decentralized Apps), unlike centralized wallets, and does not keep your personal information.

What is WhiteBit: It is a licensed cryptocurrency exchange, a crypto-to-fiat exchange.

What is BitMart: This is another cryptocurrency trading platform that provides real-time trading services including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT)