Every year a new Cryptocurrency pops up and gains wider attention from the media and money from investors. With cryptos like bitcoin, Ethereum, and XRP dominating the market with a steadily growing track record of holdings and value over time.
Among the countless new cryptocurrencies that have been popping up lately, SafeMoon coin is the newest digital currency that launched earlier this year in March and has gained over 2.3 million holders.
What is SafeMoon coin?
SafeMoon coin is another DeFi currency that stands for decentralized finance currency. It is another crypto that aims to cut out governments and banks from the process of using a ledger to verify, buy and sell transactions that are publicly available for everybody to see and legitimize.
Compared to bitcoin with a market value of over 700 billion dollars and Ethereum with a market cap of over 300 billion dollars, SafeMoon coin is baby crypto with a market cap that is just over 40.7 million dollars (As I am writing).
The public stated goal of the founders of SafeMoon coin is to create crypto that is less volatile and takes its users to the moon (meaning land of opportunities and making stacks of cash). They aim to do that by discourage day trading and incentivize long-term SafeMoon investors by charging a 10% fee on sales transactions.
SafeMoon is an incredibly cheap coin to own in fact as I am writing this article it is only 0.000003304 US dollars. So, it is extremely easy with just a couple of hundred dollars to buy over a million SafeMoon coins right now.
Is SafeMoon safe to invest in?
SafeMoon is growing massively, it has got interesting mechanics behind it where there is a huge potential of making a lot of money out of it and a potential scam/scandal behind it. The main reason behind its huge success is that SafeMoon offers loyal investors an automatic liquidity pool where if you sell, you get a 10% transaction fee, and then 5% goes back to other holders while 5% is burned. This leads to rewarding people that have held to the coin for a long time.
Right off the bat when you buy it, you are going to lose 10% at some point, if you ever want to sell.
Investing in SafeMoon coin mainly depends on your personal risk tolerance. If you have spare cash lying around, you might be lucky enough to make money from this investment.
I highly recommend reading the SAFEMOON CRYPTOCURRENCY TO MOON book by Zepp Brown as it has everything you must know about this currency.
Read more about easy profitable blog niches
How to invest in SafeMoon coin
This is not a financial advice; it is for educational purposes only as investing in SafeMoon is very risky and slightly complicated. I will walk you through the easiest and safest way to buy SafeMoon through your mobile app store.
- First thing you have to do is download trust wallet app from iOS/android app store.
- After downloading the app, go to your phone browser and type in trust://browser_enable.
- This opens the browser in the app which you need in order to transfer BNB to SafeMoon.
- After that, go to the upper right-hand corner and add SafeMoon and smart chain BNB.
- Go to wallet and click on smart Chain then hit buy.
- Buy the desired amount. Keep in mind, with Simplex you do have to pay a fee to. It is a third party provider.
- It can take up to 24 to 48 hours, but it will eventually come in.
- From there, go to browser in the app (bottom left, second option) and hit Pancake swap, go to v2 exchange, select BNB.
- Select SafeMoon as a currency and put in however much you want to convert.
- Confirm swap.
- Finally, there you have it. Your SafeMoon coin is all done.
Buying SafeMoon is going to get a lot easier in the future.
Remember when you sell there is a 10%, half of that gets redistributed back to all the SafeMoon holders. 2.5% goes to the liquidity pool and the other 2.5% goes to the burn wallet.
Why you shouldn’t invest in SafeMoon?
I don’t recommend investing in SafeMoon or any other cryptocurrency. This may sound shocking, but I will tell why.
What you should invest in is SafeMoon’s development team because they are what dictate the future of SafeMoon. Their decision could lead to ultimate success or failure. All cryptocurrencies could be copied or improved upon.
What you are investing in is a team behind the project, it is their vision, their connections and their community that will take you and SafeMoon to the moon.
The scary thing is if the development team for a crypto were to stay anonymous. There would be no accountability and they can shut down at any time and run away with your money.