How to Buy SafeMoon on Trust Wallet, MetaMask, & SafeMoon Wallet

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If you’re a cryptocurrency investor who’s all the time on the lookout for a preferred new coin to put money into, then you definately’ve virtually actually heard of SafeMoon. It’s a comparatively new coin to the market however has nonetheless made fairly a reputation for itself, due to its on-line visibility and celeb endorsements.

SafeMoon is exclusive from different cryptocurrencies in a number of methods, and it is rather more cumbersome to buy. To assist simplify the method, we’ll clarify just a few alternative ways you should purchase SafeMoon and whether or not you need to add this crypto to your pockets.

The Short Version

  • SafeMoon is a comparatively new cryptocurrency identified for its on-line recognition and celeb endorsements.
  • You should purchase SafeMoon utilizing Trust Wallet or MetaMask, however you need to first purchase one other coin and use a 3rd social gathering to transform it to SafeMoon.
  • You also can buy SafeMoon straight by means of your SafeMoon Wallet, however you’ll nonetheless have to purchase one other coin and swap it for the coin you truly need.
  • SafeMoon is taken into account a speculative funding, partly due to its appreciable volatility, so you need to proceed with warning earlier than investing in it.

What Is SafeMoon?

SafeMoon was created in March 2021 on the Bitcoin blockchain. It was based by John Karony, who presently serves because the SafeMoon CEO.

Despite Safemoon’s novelty and low buying and selling value in comparison with many cryptocurrencies, it nonetheless will get loads of public consideration. It obtained celeb endorsements from sports activities blogger David Portnoy, YouTuber Jake Paul, and rapper Lil Yachty. Those endorsements helped the coin’s value to surge in early 2021.

Like many cryptocurrencies, SafeMoon was created to serve a number of functions. It’s another forex and goals to unravel different currencies’ issues, such because the excessive environmental impression of mining and liquidity provisioning.

As of June 28, 2022, SafeMoon had a buying and selling value of $0.0000000042 and a market capitalization of $2.34 million. There are 562.2 trillion SafeMoon in circulation, about 56% of the whole provide.

SafeMoon encourages buyers to carry for the long run. The platform expenses sellers a ten% price, half of which is redistributed to SafeMoon holders. This discourages buyers from panic promoting and incentivizes shopping for and holding to cut back volatility.

SafeMoon’s rise has much less to do with the coin’s precise traits and extra with its on-line recognition and celeb endorsements. Just like with different meme cash, deal with SafeCoin as a speculative funding and solely make investments with cash you possibly can afford to lose.

SafeMoon is a little more difficult to purchase than different cryptocurrencies. It’s not out there on main platforms like CoinBase or Kraken. It also can solely be bought utilizing Binance Coin. As a outcome, you’ll have to purchase one other cryptocurrency to swap for SafeMoon.

Read extra >>> What Does HODL Mean in Crypto Stocks?

How to Buy SafeMoon on Trust Wallet or MetaMask

One approach to purchase SafeMoon is by utilizing the favored cryptocurrency wallets Trust Wallet or MetaMask. However, you possibly can’t purchase SafeMoon straight from these wallets, making the method a bit extra sophisticated. Instead, you need to buy Binance Coin, then swap that for Smart Chain tokens, and then use the PancakeSwap trade to in the end purchase your SafeMoon cash.

Here’s learn how to get began:

  1. Download the Trust Wallet or Metamask app in your Apple or Android system and create a brand new pockets.
    Buy Binance Coin (BNB) in your Trust Wallet or MetaMask app. You can’t buy SafeMoon with fiat forex, so this step is vital earlier than you can also make your SafeMoon buy.
  2. Swap your BNB with Smart Chain tokens and make sure the conversion has been made.
    Go to PancakeSwap, SafeMoon’s main trade, and join it to your Trust Wallet or MetaMask pockets.
  3. Swap your Smart Chain tokens for SafeMoon in PancakeSwap.
  4. Copy SafeMoon’s contract handle and paste it into Trust Wallet or MetaMask so as to add your SafeMoon to your pockets.

How to Buy SafeMoon on SafeMoon Wallet

The different approach you should purchase SafeMoon is straight by means of your SafeMoon Wallet. Just like utilizing Trust Wallet or MetaMask, this course of doesn’t let you buy SafeMoon utilizing fiat forex straight. However, the method could also be faster since you are able to do every thing straight out of your SafeMoon pockets fairly than utilizing a number of instruments.

Here’s learn how to get began:

  1. Download the SafeMoon Wallet app in your Apple or Android system and create a brand new pockets.
  2. Buy Binance Coin (BNB) utilizing the MoonPay widget in your SafeMoon Wallet app. Just click on “Buy” on the prime of the app and choose Smart Chain to finalize your buy.
  3. Click the swap button in your SafeMoon Wallet to swap your BNB for SafeMoon. When doing this, be sure BNB is within the prime slot, and SafeMoon is within the backside slot, with the slippage at 12%.
  4. Once you full your swap, your SafeMoon shall be ready for you in your SafeMoon Wallet.

Should You Buy SafeMoon? Is It…Safe?

SafeMoon does have sure benefits. Despite being a comparatively new cryptocurrency, it has loads of identify recognition and endorsements from a handful of celebrities. As a outcome, some SafeMoon buyers noticed their coin values improve dramatically.

Another benefit of SafeMoon is its relative newness. Many of at present’s common cryptocurrencies have been comparatively stagnant for years earlier than turning into common and beneficial. And these buyers who received in on the bottom ground have been in a position to make some huge cash.

That being stated, SafeMoon additionally has some main disadvantages that ought to trigger buyers to proceed cautiously. First, SafeMoon has skilled important volatility since its introduction in early 2021. Its value has swung wildly in both route.

The coin’s value rose greater than 20,000% shortly after hitting the market, solely to expertise important declines. In reality, in response to CoinMarketCap, somebody who bought SafeMoon when or quickly after it was launched would have skilled a unfavourable return on funding of about 90% in the event that they nonetheless held the cryptocurrency at present.

Another drawback of SafeMoon is the promoting charges, which makes lively buying and selling cost-prohibitive. The platform expenses a ten% price to promote your cash. This price is meant to encourage buy-and-hold investing, nevertheless it’s price occupied with whether or not you desire a coin that’s so costly to promote.

The Bottom Line

SafeMoon is a comparatively new cryptocurrency however has already made a reputation for itself. It’s a bit more difficult to purchase than different cryptocurrencies since you must obtain a pockets and buy one other coin to swap.

SafeMoon has the potential to be a worthwhile funding, nevertheless it additionally has loads of dangers. If you’re contemplating including it to your portfolio, be sure you perceive the dangers and solely make investments cash you possibly can afford to lose.

Further studying:

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