Safemoon Crypto: A Guide To Investing

SafeMoon is a community-driven cryptocurrency that launched in March 2021 with the aim of combating market volatility by incentivising long-term holding and discouraging short-term selling. It does this by charging a 10% fee on all sales, half of which is redistributed to current token holders, and half of which goes into a liquidity pool to help maintain price stability. SafeMoon gained popularity through viral marketing and its community-driven approach, and it has been endorsed by celebrities such as Jake Paul, Nick Carter, Soulja Boy, Lil Yachty, and Ben Phillips. However, it has also faced allegations of fraud and concerns have been raised about the sustainability of its tokenomics model. SafeMoon can be purchased on several exchanges, including PancakeSwap, Bitrue, and BitMart.

Where to buy SafeMoon

SafeMoon is a token on the Binance Smart Chain, so you'll need a wallet that supports this chain. You can download the MetaMask or Trust Wallet browser extension to get started with buying SafeMoon. These browser extensions give you password-protected access and control over all your tokens.

Once you have your wallet, you'll need to buy some Binance tokens (BNB). You can do this through your wallet, using a credit or debit card.

Now that you have your Binance tokens, you can swap them for SafeMoon on a decentralised exchange such as PancakeSwap, BitLink, or SafeMoon Swap.

As of October 2021, SafeMoon was also available to trade on several other exchange platforms, including BitMart, Decoin, Gate.io, ZBG, BiKi, LBank, Hoo, Hotbit, MEXC, Bitbns, Bitrue, WhiteBIT, KickEX, BitForex, BHEX, Jubi and Biswap.

SafeMoon's unique tokenomics

SafeMoon is a community-driven cryptocurrency that launched on 8 March 2021 for $0.00000007. It has a unique tokenomics model that aims to reward holders and discourage short-term selling.

SafeMoon employs three simple functions: Reflection, LP Acquisition, and Burn. It charges a 10% fee on every sale, half of which is redistributed to existing SafeMoon holders, and the other half is added to a liquidity pool. This incentivises long-term holding and discourages selling by making the token more valuable over time.

The automatic liquidity pool is the "secret sauce" of SafeMoon, creating a solid price floor for buyers and sellers. The unusual feature of SafeMoon is the penalty for selling coins, which is designed to combat market volatility. SafeMoon also has a self-sustaining liquidity pool that can siphon tokens in the form of fees, further adding to the token's liquidity pool.

SafeMoon gained popularity due to its viral marketing and community-driven approach, attracting a large number of investors and enthusiasts. However, critics argue that the project lacks transparency and real-world utility, with concerns raised about the sustainability of its tokenomics model.

How to buy SafeMoon

SafeMoon is a community-driven cryptocurrency that launched on 8 March 2021 for $0.00000007. It is designed to reward long-term investors and penalise sellers with a 10% transaction fee. Half of that fee is then redistributed to investors who continue to hold their SafeMoon crypto.

SafeMoon is currently available on fewer than 10 exchanges. Here are the steps to buying SafeMoon:

• Download a wallet and sign up: Install a wallet on your computer or as a browser extension, or download it from a mobile app store. After downloading, set a username and keep it safe.
• Secure your recovery phrase: You will be given a 12-word recovery phrase to keep safe. Do not share this with anyone. It is recommended to write it down and keep it in a safe place.
• Check you have enough Ethereum to cover fees: The cost of a transaction depends on the Ethereum network's busyness, how quickly you want the transaction processed, and the transaction size.
• Buy and transfer Ethereum to your wallet: Once you have met the user verification requirements, transfer cash to your wallet and buy some Ethereum coins.
• Use the Ether (ETH) to buy SafeMoon: With the ETH in your wallet, swap the ETH coins for SafeMoon. Click the "swap" icon in the assets tab, choose SafeMoon, and swap ETH for the value of SafeMoon you desire.

Alternatively, you can use the SafeMoon Swap decentralised application on the Build and Build chain to trade BNB tokens for SafeMoon tokens.

SafeMoon can also be bought on some exchanges, such as PancakeSwap and Bitrue.

SafeMoon's pros and cons

Pros

• SafeMoon is a community-driven cryptocurrency that combats market volatility by penalizing sellers and rewarding holders.
• SafeMoon has gained popularity due to its viral marketing and community-driven approach, attracting a large number of investors and enthusiasts.
• SafeMoon has a unique tokenomics model that aims to reward holders and discourage short-term selling.
• SafeMoon's deflationary mechanism, where a portion of each transaction is redistributed to existing holders, encourages them to keep their tokens, which theoretically helps stabilize the price.
• SafeMoon can serve as a means of investment, especially if you plan to leverage the reward and incentivization program.
• SafeMoon has a self-sustaining liquidity pool that can siphon tokens in the form of fees, which are then added to the token's liquidity pool on PancakeSwap.
• SafeMoon has a valuable meme crypto brand that has regularly been trending on social media.
• SafeMoon was designed to incentivize long-term investing and punish selling. Any investor who sells is charged a 10% fee. Half of that fee is added to a liquidity pool to support price stability, and the other half is distributed to SafeMoon's existing holders.
• SafeMoon has endorsements from high-profile online influencers such as Barstool Sports founder Dave Portnoy and social media celebrity Jake Paul.

Cons

• SafeMoon is a fairly new crypto that is limited to a small number of exchanges.
• SafeMoon is not traded on leading crypto exchanges such as Coinbase Global Inc. and Gemini, making the market far less liquid than other popular cryptocurrencies.
• SafeMoon does not have a technological advantage over other cryptos in transaction speed, security, or other features.
• SafeMoon's project lacks transparency and real-world utility, with some concerns raised about the sustainability of its tokenomics model.
• SafeMoon has experienced dramatic volatility and a fall in price, as well as fraud allegations and criticism.
• SafeMoon's centralized ownership has led to concerns about it being a Ponzi scheme or a pump-and-dump scheme.
• SafeMoon has limited practical use cases beyond speculative trading and holding for potential price appreciation.
• SafeMoon is a relatively new project compared to more established cryptocurrencies with undefined schedules and unproven roadmap execution.
• SafeMoon may have limited liquidity compared to more established tokens, making it difficult for holders to execute large trades at desired prices.
• SafeMoon remains a speculative investment with an unproven business model that has yet to experience wide adoption.

SafeMoon V2

If you hold your SafeMoon tokens on an exchange, the migration to V2 will be handled by the exchange, and you will be notified when the process is complete. However, if you hold your tokens in a wallet, you will need to manually switch them to V2. For SafeMoon Wallet users, this involves updating to the latest version of the app and following the consolidation instructions. Users with other types of wallets can visit the SafeMoon Swap site to convert their tokens.

It's important to note that SafeMoon is a risky and speculative investment. The token has faced allegations of fraud and has been criticised for its lack of transparency and real-world utility. The success of SafeMoon relies heavily on community sentiment, and it remains to be seen whether it will experience growth or strong user adoption in the future. As with any investment in the crypto space, potential investors should exercise caution and conduct thorough research before investing in SafeMoon V2.

Frequently asked questions