What is Safemoon Crypto and 3 Easy Ways to Buy It

What is SafeMoon Crypto ?

SafeMoon Crypto is a decentralized finance (DeFi) token that has attracted a large following since its launch in March 2021. The project aims to address issues faced by other cryptocurrencies by rewarding long-term holders and ensuring that decentralized exchanges (DEXs) will always have adequate liquidity. enough.

SafeMoon achieves this goal through its innovative token economy. Each SAFEMOON transaction is subject to a 10% fee, half of which is redistributed to all SAFEMOON holders as a form of passive income. The remainder is sent to PancakeSwap—half as SAFEMOON and half sold as BNB—to ensure sufficient liquidity of the SAFEMOON/BNB trading pair.

Nearly a quarter of SAFEMOON tokens go to developers, who burn them before they are launched. Some of the redistributed tokens also went into the burned wallets, thus creating SAFEMOON deflation.

How to Invest in SafeMoon Crypto

You can buy SAFEMOON Crypto for short or long term. Both options have the potential to generate cash, with investors' goals and experience going to determine which route they choose. 

Buy and Hold SafeMoon Crypto

Buy and hold is the simplest strategy to execute. No need for technical analysis skills. Investors can earn money without spending time or effort.

The advantage of holding SAFEMOON for the long term is that 5% of each transaction is “returned” to SAFEMOON holders. This means that the longer you hold SAFEMOON, the more passive income you earn.

Best SafeMoon Wallet

A private wallet may be the safest place to store tokens in the long term as you have full control over your assets while providing an extra layer of security.

Software wallets or free software wallets are easy to use and can be downloaded on computers and mobile phones but the risks are high. The hardware wallet or hardware wallet that SafeMoon developers recommend is Trust Wallet. Hardware wallets like Trezor, BitBox, and Ledger may be expensive but provide the best security. Be sure to check if your wallet supports SAFEMOON before transferring your tokens.

If you want to buy and sell SafeMoon on a regular basis, then choose a wallet that is safe and also fast in making transactions. Keep in mind hardware and paper wallets are much slower than software wallets.

SafeMoon Crypto Trading

The price of SAFEMOON Crypto in the past has been very volatile. Traders can take advantage of this by buying and selling tokens in shorter timeframes. It takes more skill, effort and time to become a successful trader, especially if you want to run day trading. For more detailed predictions, read our SafeMoon price prediction guide.

If you're going to be doing regular trades, a personal wallet might be a bit tricky as you have to transfer tokens many times. Exchange provides a free web wallet, which may be more suitable for traders.

How to Buy SafeMoon Crypto

SAFEMOON Crypto is not listed on any major crypto exchange, the process is not as easy as other cryptocurrencies but you can still buy it on a decentralized exchange (DEX) like PancakeSwap with these easy steps.

1. Register through a regulated exchange

First, register with a regulated exchange. You can find our recommendations in the “Where to Buy SafeMoon” section or simply sign up with our top picks now. You may need to provide a photo ID and/or proof of address to complete the KYC process.

[coin table-inv="BNB" offer-type="crypto" limit="3"]

2. Buy BNB tokens

You have to buy BNB which will then be exchanged for SAFEMOON. Go to the deposit or deposit page to fund your account using your preferred payment method such as a credit or debit card. Find the BNB pair and currency you just deposited and enter the amount of BNB you want to buy in the 'buy order' section

3. Send BNB to Web 3.0 wallet

Set up a Web 3.0 compatible wallet, such as MetaMask or Trust Wallet (SafeMoons depelover recommends Trust Wallet which can be downloaded from Google Play or the App Store). Send your BNB to your new wallet by going to the withdrawal page on the platform of your choice, pasting your wallet address into the recipient's address box, and clicking "Withdraw" or "Withdraw".

4. Connect your wallet to PancakeSwap

Open PancakeSwap (one of the popular decentralized crypto exchanges) and click the "Connect Wallet" button. Make sure the network your wallet is using is Binance Smart Chain and follow the on-screen instructions to allow PancakeSwap to connect to your wallet.

5. Exchange your BNB for SAFEMOON

Open “Trade” and set “From” currency as BNB and “To” currency as SAFEMOON. Enter the amount you want to buy. Make sure you have enough BNB to cover purchases and costs, then swap.

Should I Buy SafeMoon Crypto Now?

This is up to you to decide for yourself after considering all the available information. SAFEMOON's supply is limited, with almost a quarter of tokens being burned prior to launch. Some tokens that are redistributed along with all transactions are also burned. This supply reduction is designed to make the tokens more valuable over time.

The redistribution of tokens to all wallets containing SAFEMOON becomes a trigger to buy tokens and store them. There will be fewer tokens available on the market, thus having a positive impact on the long-term price of SAFEMOON Crypto .

There are also plans to create a SafeMoon exchange, which could increase the utility of the SAFEMOON token. With its innovative token economy and ongoing project development, SafeMoon can prove to be a popular and valuable enduring project. Future Plans for Safemoon include charity projects as well as crypto education apps and even the NFT marketplace.