SafeMoon is a reflection token, making it the first of its kind. 585,536,366,402,812 SafeMoon tokens are in circulation. This comes as a consequence of the burn that constantly happens to SafeMoon tokens. Safemoon is a cryptocurrency that was designed to encourage long-term investment and discourage selling, but it’s an extremely volatile asset that comes with a number of other risks too.
However, the push didn’t work and the value of the DOGE token declined. In order to pick up SafeMoon crypto, you used to need a Trust Wallet app with a little bit of Binance Coin in it. Then you would head over to PancakeSwap and search around for SafeMoon. Once you’d found it, you’d set the slippage to between 11% and 12%, select the amount you wanted to purchase, press the swap button and then confirm the transaction. And along the way, it was almost a certainty that some pieces of the puzzle would fail on the first one to five times you tried them. It’s by far the largest cryptocurrency out there in terms of market capitalization.
In order to store your SafeMoon crypto, you’ll need a SafeMoon wallet. Your wallet serves as your digital bank account for cryptocurrency and allows you to buy, sell, and send cryptocurrency. Binance is one of the largest cryptocurrency exchanges in the world and has a huge selection of more than 500 coins, including SafeMoon.
You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Why would they launch on our blockchain over BNB, ETH, or whatever? Well, they can choose to launch on one blockchain and if they want to transact across the market, they can use our bridges and pay us fees. They could just launch on our blockchain in the first place and cut out a step in transacting across other blockchains. I’d imagine they’d get some preference if they sit on our blockchain.
The trading platform not only includes technical studies and drawing tools, but also gives you access to the SafeMoon order book and depth charts. This cryptocurrency is relatively new, so not every exchange offers it for trading yet. Let’s take a look at 2 of the best platforms to buy SafeMoon stock. Open the Binance trading platform and search for ‘SafeMoon/USDT.’ Click on the tradng pair when it appears and then enter the amount of SafeMoon crypto you want to buy.
Safemoon’s native network is the Binance Smart Chain. That’s why the protocol turns half of the other 5% into Binance coins. This lets people buy and sell BNB and SAFEMOON tokens. You have to pay a 10% fee if you sell your Safemoons.
Enjoy the memes, stay for the laughter and work together as a community to explore the galaxy. The Anti-PaperHand system distributes 2% of every transaction to holders. This incentivizes all hodlers and rewards people that stay on board. SafeMoon is one of many altcoins, a cryptocurrency token that is an alternative to Bitcoin, to gain popularity this year.
Before joining the Be In Crypto team, he was an editor and senior journalist at a news, lifestyle and human-interest magazine in the UK. Cryptocurrency was one of the first subjects he specialized in when first going freelance in 2018, reviewing exchanges and analysing lawsuits. However, in the wake of the technical issues, the DeFi protocol has met its share of criticisms and FUD. Some Twitter users have even accused SafeMoon of scamming its users. Difficulties impacted all three SafeMoon wallet products – its Android and iOS versions, and the website’s buy and swap function.
The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. This is a Breakdown Of Why A Blockchain Is Good News And How It Benefits Us. Just before we start, I want to give credit to Reddit user “g1710”. The key to this token is volume – it gives us reflections and burns down the supply and assuming the market cap stays the same – increases the value per Safemoon.
Nothing published by Inquirer.net constitutes an investment recommendation, nor should any data or content published by Inquirer.net be relied upon for any investment activities. The exchange will incorporate tokenomics across all coins/tokens on the platform. This can be done by taking some of the trading fee and giving back some of the coins to the user. A trading fee is common across any exchange, but the return of a portion of the coins to the holder is revolutionary to the industry. The biggest name in the new wave of Tokenomics is a crypto token called Safemoon. This crypto token is a community-driven project launched in early 2021.
It employs a manual burn strategy rather than digital burns to control the supply and enable a rewarding and beneficial burn strategy to the long-term holders and achievers. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose.
When Corey isn’t focusing on Investment U, he enjoys traveling with his wife, going to Yankees games and spending time with his family. Cryptocurrencies come with a growing list of concerns and vulnerabilities. First and foremost, market volatility is much higher in crypto than traditional stocks. With these skyrocketing numbers, it’s easy to understand why so many people are desperate to learn how to invest in SafeMoon.
Choosing to invest in SafeMoon is a personal decision that should be made based on how much risk you would like to take. The success of SafeMoon depends on Binance, the SafeMoon team and whatever community is built around it. Safemoon is a big gamble, so take that into account when deciding how much you’ll buy. It’s fine to purchase a bit if you like the concept or just want a very high-risk crypto in your portfolio. Make sure you only put in money you can afford to lose.
This makes sure they join the network just like everyone else. The idea is they won’t have that advantage over them. Adoption and utility are the driving forces in every aspect of cryptocurrency, and Safemoon will have achieved a large part of this in the very near future. This is different from all banking systems where users must interact with a company, which makes it decentralized. CryptoNextGem.com is a worldwide crypto community voting website. Would you like your crypto project promoted and/or featured?
The author has not received compensation for writing this article, other than from FXStreet. Since coins like SAFEMOON, DOGE and SHIB are usually driven by hype cycles, getting the retail going could indeed help it grow in market value. SafeMoon price has been on a massive downswing since August 28, indicating weak holders. Although the recent crash has sliced through multiple support levels, SAFEMOON shattered a critical support level on September 6.
The week has been much more successful for some of SAFEMOON’s fellow DeFi tokens. Kava.io hit an all-time high on August 22, and data indicated that it has made a couple of further attempts to reach those heights since. In addition, Terra also achieved its latest all-time high, hitting $36.61 in the morning of August 29. This milestone is the result of an impressive total growth of nearly 30%. It also brings the token closer to a spot in the top 10 most valuable cryptocurrencies by market capitalization.
The simple solution is to Blacklist the liquidity pair from the auto-reflection or auto-redistribution in the contract. I hope this is a lesson for you all Safemoon and its forks with redistribution of rewards are anything but safe. Please understand that when a contract is renounced, simple problems like this can never be fixed, leaving you as a pawn to the scammers.
It would also redistribute half of the exit tax to existing holders. Another great option is the Binance Trust wallet, also available for iOS and Android devices. This wallet supports more than 500 cryptocurrencies, including SafeMoon, and includes a built-in marketplace for decentralized finance apps. The Trust wallet is protected by Binance’s cutting-edge security technology, so you can feel confident your crypto is safe. Another benefit to buying SafeMoon stock is that token holders receive half of all fees that are paid when the coin is sold.
Binance doesn’t require a minimum deposit, but you can save money by funding your trading account ahead of time. You can pay by credit card, debit card, or bank transfer. Binance is one of the best places to buy SafeMoon coin. Head to the Binance website and click ‘Register Now’ to create a new trading account.