How to Buy SafeMoon? This question has been addressed in this article in 4 simple steps.But first ,If you have been following forex trading news, then Safe Moon might not be a new term to you.
Most of this term was used in 2021, especially with crypto traders. Therefore, if you are interested in day trading, talk of Safemoon’s high volatility and rapid market increase cap will attract more of your interest.
You may have two options, taking short trades or taking long trades. All these strategies will earn you a decent amount of money. For a long trader, you may choose to hold and capitalize on the next big crypto price move.
Now, let’s jump to the topic of how to buy Safemoon. A brief statement is you need to create a wallet for the Binance Smart Chain through MetaMask or Trust Wallet.
After buying the Binance token, you can swap them for SafeMoon on a decentralized exchange like PancakeSwap or Safemoon swap.
What is Safemoon crypto?
SafeMoon is the first cryptocurrency on the Binance Smart chain to attract mainstream attention. Most of its information was spread through social media platforms such as Twitter and Tiktok.
Furthermore, it is the first cryptos to be implemented to redistribute tokenomics, something which has not yet proven to be of importance to cryptocurrencies.
In this case, we can Safemoon is a member of the group of tokens known as Memecoins. Memecoins are crypto tokens or coins based on internet memes. The name Safemoon was derived from a popular slang term in a crypto discussion forum “Going to the moon”.
This expressed the fact that crypto price asset was rising very high over a very short period.
The most important thing you need to learn about the crypto coin is that it operates on the Binance smart chain. According to crypto jargon, just like a coin, crypto operates on its blockchain.
What is a blockchain?
In simple terms, a blockchain is decentralized data that is securely shared. With blockchain technology, a selected group of people can share data. Therefore, in the cryptocurrency world, a Bitcoin operates on its blockchain and does Safemoon.
The Binance smart chain provides a separate block that inherits many software features and protocols from the Ethereum network. One key feature of the Ethereum network is its ability to host software programs.
Features for Safemoon.
It is important to know certain characteristics of Safemoon cryptocurrency. A few features that have attracted public attention is that its smart contract charges a 10% exit fee for holders who choose to sell.
These fees are burned while some of it is redistributed to remaining token holders which theoretically increases the value of their holdings over time.
Despite more criticism, Safemoon owns the pattern of the current supply of the token. A large proportion of its liquidity is owned by members of the founding team. Although this amount is called lock-up, such ownership is taken with much concern in the crypto space.
How to buy Safemoon.
Buying Safemoon is easy. If you already have a wallet on the Binance Smart Chain, you can go ahead to buy Safemoon by exchanging it for any other token in your wallet on a decentralized exchange.
However, if you do not have a wallet, you have to download the MetaMask or use the Trust Wallet browser extension to get started. The browser extension will give you the password to protect access and control over your tokens.
You can follow these simple steps.
1.Visit the website and create your account by signing up. This requires your email address, username, and password.
2.Pass KYC verification: After you have created your account, the users must pass a verification process meant to justify your account opening. You will be required to submit your valid Identity card which takes minutes to verify.
3.Deposit funds: When done with the verification process, you will deposit funds into the newly verified account. There are described ways you can do this. You can use your credit card. Note that Crypto.com does not charge you deposit fees which is a great idea and your payment is also processed immediately.
4.Buy Safemoon Inu coin: Since you have your account settings and you have deposited the required amount, search for Safemoon Inu coin on the Crypto.com website. Here, select the crypto, click “Buy” and fill out your order form. It is required that you select the amount you wish to purchase and the coin will be added to your account.
Having read on How to Buy SafeMoon,Just know that the world of crypto is growing every day with millions of investors being attracted to the industry. Meme coins (Safemoon) have demonstrated their ability to generate outstanding investment opportunities in recent years.
Now that you found this article, you have all the knowledge, and its time to try this out. We wish you all the best.
Related: How to buy Saitama.