There has been no shortage of ambitious and speculative cryptocurrencies arriving in the crypto world, one more competitive than the other. A few of them have not been much triumphant but some of them are still going strong. One of the best performing coins in the crypto market is called SafeMoon.
SafeMoon is one of the largest cryptocurrencies to take over the crypto market in 2021. A project aiming to decentralize the burdensome financial system, the crypto project is community-driven and becoming the more reliable way to invest. Currently, 2.3 million holders of the cryptocurrency have existed ever since its initial launch.
The developers of the SafeMoon crypto have an extended vision for the success of this cryptocurrency. Holders can receive passive awards with time and some penalties discourage people from selling.
Buying SafeMoon can be tricky
A majority of the cryptocurrencies are easy to purchase. If one of the tokens hasn’t been listed on Coinbase or Binance, you will always be able to find the token being traded on a decentralized crypto exchange, for example, UniSwap.
A large number of decentralized crypto exchanges are very easy to use and users complete their transactions within seconds.
But SafeMoon is different from other altcoins because SafeMoon was not built on Ethereum. This indicates that most of the decentralized crypto exchanges that trade Ethereum-based tokens, cannot offer SafeMoon. SafeMoon was built on Binance Smart Chain – which is a centralized blockchain network run solely by Binance.
This means that you have to own some BNB, that are usually bought on the Binance platform before you can exchange them on any decentralized crypto exchange that operates on BNB. An example of these exchanges is the PanCake Swap.
To get around this very tricky process, investors interested in buying SafeMoon go to BitMart. BitMart allows crypto investors to use Tether (USDT) – which is a U.S.D-based stablecoin. This helps users to get SafeMoon without having to possess the BNB.
You can get directly started by creating an account on BitMart. You will have to go through the Know-Your-Customer process – which is a bit time-consuming but it is an important requirement. Once you have created your account on BitMart, you will have to transfer USDT from another wallet to your BitMart account. You can even buy USDT directly on BitMart as an alternative.
We will give you a detailed step-by-step process on how to get SafeMoon on BitMart, but let’s learn how SafeMoon operates first.
SafeMoon crypto works in three very simple functions: Reflection, LP Acquisition, and Burn.
Reflection is static awards that try to correct the problems with farming rewards. There are two ways in which this is done;
The reward amount is set to be given on conditions, depending on the volume being traded. This is a great way to discourage selling pressure felt by the beginner adopters who are selling their coins.
This way people can collect higher payments based on the total number owned. This approach by SafeMoon is a new static approach and is very different from the traditional mining rewards. For example, early users who used Bitcoin (as well as other tokens), early adopters had the chance of earning more rewards for their mining efforts than the people who started later. This happened because the reward value decreases with time.
This meant that early adopters earned more crypto than the new buyers. So, SafeMoon has safeguarded all means to stop the problem of early adopters collectively selling their coins,
SafeMoon’s biggest advantage is a function that provides a solid price floor for buyers and sellers – called automatic liquidity.
This function was established to maintain long-term stability. One of the more peculiar features is the penalty in selling coins.
The design is for long-term stability. The smart contract will charge a 10% fee for every transaction. The fee is split in a way that 5% is for existing holders, which highly encourages investors to not sell their tokens.
The unusual feature of SafeMoon is the penalty for selling coins. For every transaction, the smart contract charges a 10% fee. 5% of the fee is divided among existing holders, which encourages investors not to sell their tokens. In the project’s white paper it was written that their goal was to “prevent the larger dips when whales decide to sell their tokens later in the game, which keeps the price from fluctuating as much.”
A large number of cryptocurrencies out there go through a process called token burning that is a way to permanently remove tokens from circulation. Token burning produces an increase in the scarcity of tokens and in turn increasing their value. But SafeMoon does not follow the line of traditional cryptos. It implements a ‘manual burn’ instead of continuous token burning. SafeMoon deals in producing a much more beneficial strategy for long-term investors. The manual burn can be tracked and seen publicly, which means it even has increased transparency.
Where to buy Safemoon?
SafeMoon can be bought on BitMart! BitMart is a global trading platform and exchange having over 5 million customers. It deals in over 180 countries. BitMart is an exchange that originated from the Cayman Islands and became available in March 2018.
BitMart is an exchange that can be trusted and be relied on. It is easily accessible, professional, and it has amazing liquidity. The vision BitMart has shared with us is “to bring cryptocurrency available to everyone everywhere”.
BitMart has exchange offices in Singapore, New York, Hong Kong, and Seol. BitMart is more famous for its spot trading, but it also offers more advanced trading capabilities.
BitMart has been placed on no.24 on Coinmarketcap’s list of exchanges that have the highest 24-hour trading volume. So once you start trading on BitMart, you will never have to be concerned about the order book being empty. BitMart is restricted to keep US investors out. US investors should opt for other crypto trading options. BitMart believes in reshaping the fundamental global economy from the core. They say that decentralized digital currency can bring financial freedom and will put forth economic contrivance which is efficient and is equally available to the world.
Along with spot trading, otc trading and USD trading are also available on the BitMart crypto exchange.
Here is a step by step process on how to buy SafeMoon on BitMart:
SafeMoon can be easily bought by first purchasing Bitcoin from an exchange and then transferring it to the exchange that is offering this coin.
Step 1: Register on Coinbase
The number one step is to buy Bitcoin (BTC) or Ethereum (ETH) – which are one of the major cryptocurrencies of the world. Use Coinbase to buy your first crypto, which is the largest crypto exchange in the world. Coinbase also accepts fiat deposits which is a big convenience for users.
Once you are on Coinbase, type in your email address and click on “Get Started”. Prove your identity and verify your Coinbase account and choose a strong password. Make sure your account is not vulnerable to hackers from the start.
Next, Coinbase will send you an email for confirmation. Open the email and go to the link given below. You will now be asked to provide your mobile number. Make sure it is valid. This step assures us to set up a two-factor authentication (2FA) system. The 2FA adds extra security to your account, and make sure you always have this feature turned on to stay safe from hackers.
Follow the next step and that brings your identity verification to an end.
If registering on Coinbase seems intimidating at first it is because you are going through a process similar to any other financial institution out there. But do not be intimidated easily because Coinbase has a user count of 68 million. It is regulated in the US, the UK, and the EU.
This is a trusted crypto exchange with verified users who are serious about crypto. The Know-Your-Customer process has also now been automated completely and will only take about 15 minutes to be completed.
Step 2: Buy coins with fiat money
When the Know-Your-Customer process has been completed you will be prompted to decide on a payment method.
The two payment methods are either credit card/debit card or bank transfer.
A bank transfer is cheaper, but the process takes more time than using cards. But you will be charged a little more when using cards, but the advantage is the faster purchase.
Once the payment method has opted, you are set to click on ‘Trade’ on the top left corner. Choose the coin of our choice and then do a confirmation of your transaction.
Congratulations! You have now completed your first crypto purchase.
Step 3: Transfer the cryptos to an Altcoin Exchange
Now, since SafeMoon is an altcoin, the next step is to transfer our coins to a crypto exchange where SafeMoon can be traded.
So for this, the crypto exchange we use will be BitMart.
BitMart is the most popular crypto exchange that deals in trading altcoin pairs.
To sign up for BitMart, you go through the same process as before. You will be prompted to set up a 2FA authentication to add that extra layer of security.
Step 4: Deposit BTC to exchange
The policy of this crypto exchange requires you to go through a Know-Your-Customer (KYC) process. This process takes about 30 minutes or it can even take a few days at max. This process may be lengthy but is necessary and very straightforward. After being finished with the KYC process you will be able to have full access to your crypto exchange wallet.
Making a crypto deposit looks daunting at this moment but do not worry! This process is even simpler than making a bank deposit.
When you come across a string of random numbers, that will be your ‘BTC address’. This string of numbers is a unique arrangement that shows your public address to your Bitcoin wallet that you have set up at BitMart. You can now receive Bitcoins by giving this address to the person who sends you funds.
Now that we are transferring our formerly bought Bitcoin on the Coinbase crypto exchange to this wallet, click on ‘Copy Address’. You can even right-click on the full address and click ‘copy’ to copy the address to the clipboard.
Once the address has been copied, go back to Coinbase, move to the Portfolio page, and click on Bitcoin from the asset list. Now press ‘Send’ on the right side.
Paste your previously copied wallet address under the recipient field. Check if both addresses are matching for security purposes. It is not uncommon for certain computer malware that is known to form small changes in the content on your clipboard. This can lead to accidentally transferring funds to another person’s crypto wallet
To proceed, click on ‘Send’ and you will be sent an email for confirmation. Click on the link provided in the email and right after your coins have now been sent to BitMart.
Navigate back to BitMart and go to the exchange wallet. If you do not see the deposits displayed in the wallet, do not be alarmed. It takes a bit of time to be verified in the blockchain network before the coins are deposited into the wallet.
During a time when the networks are busier, there is often more traffic and might take a bit longer.
A confirmation notification from BitMart will be received once the coin has arrived safely into your crypto wallet.
You are finally prepared to purchase SafeMoon from BitMart!
Step 5: Trade SafeMoon
Go back to BitMart and go to ‘Exchange’. The figures will start flickering instantly!
In the right-side column, you will find a search bar. At this moment make sure that you have carefully selected the BTC since we are trading BTC to altcoin pairs.
Click on the search bar on the right and type in the words ‘SafeMoon’. You will be able to see SafeMoon/BTC.
Select this pair and you will see a price chart for SafeMoon/BTC in the center of the page displayed.
Below is a box that says ‘Buy Safemoon’, with a green button on it.
Click on the ‘Market’ tab here. This process is straightforward. Here you can either type in the amount or decide what portion of your BTC deposit would you like to spend on purchasing. This is done by clicking on the percentage buttons. Once everything has been confirmed, you can now click on ‘SafeMoon’ and there you go!
You have finally purchased SafeMoon!
Alongside BitMart crypto exchange, there are plenty of other reliable crypto exchanges in the market from where you can register. These exchanges also have good trading volumes and a big user base.
Using these exchanges, you can sell your coin at any time that is convenient too, and at cheaper prices. Once SafeMoon is listed on these exchanges, a large clientele will be attracted towards them and that generates more opportunities for you to trade.
Some of these crypto exchanges are listed below:
Gate.io is a US-based cryptocurrency exchange that came into existence in 2017. Because this crypto exchange is American, investors from the US can also trade using this platform.
This crypto exchange can be translated from English to Chinese for the convenience of investors from China.
Gate.io has a large selection of trading pairs. You can find various quantities of altcoins there. Gate.io demonstrates a large trading volume as well.
It is easily one of the top 20 exchanges with the highest trading volume. The trading volume amounts to USD 100 million every single day. The first 10 trading pairs on Gate.io in terms of trading volume normally have USDT (Tether) as a part of the pair. Thus, Gate.io’s large number of trading pairs and its impressive liquidity are both very impressive aspects of this exchange.
How to buy SafeMoon on App:
SafeMoon is recognized as a decentralized finance (DeFi) token.
What is decentralized finance? Decentralized finance is a cryptocurrency movement that has the intention to give people an alternative to the financial system. The current financial system has perks but is managed by a single authoritative system that has banks and government bodies. So the alternative financial system to be established by decentralized financing will exclude such authorities.
SafeMoon’s operation depends on the Binance Smart Chain blockchain. The Binance Smart Chain was launched on March 8, 2021, and it was a huge success from the beginning. It has been discussed on multiple social media platforms by crypto investors since the day of its release.
Prior to buying the DeFi toke, do your research. It is important to have knowledge of the fact that SafeMoon penalizes sellers with a 10% charge, and then redistributes half of that amount to other token holders. This is done to incentivize buying and holding.
SafeMoon has been created with the goal in mind to mitigate several problems that ruin the experience of cryptocurrency buying. These problems include price volatility, and premature selling that some crypto investors take part in – this is the reason there is a 10% selling fee.
SafeMoon is a great way to keep making money, as new people keep buying in – as said by the crypto blogger Lou Bagel.
Observing the CoinMarketCap, SafeMoon traded around $0.000002 on April 18. Two days later, SafeMoon’s trade completely skyrocketed when there was a 7000% increase in trades. A trade of $0.00014 happened which depicted that on investing around $1,600, you will have earned around $60,000 one month later.
On July 28, SafeMoon traded $0.000003. This shows that SafeMoon is still a speculative digital asset, even if the SafeMoon team is doing its best to constrain volatility.
Indeed, buying SafeMoon is not the most simple process. But it is easy to follow step-by-step instructions and once it is finished, it is a rewarding experience.
How to buy SafeMoon from the app:
- Go to the iOS or Android app store. Download the Trust: Crypto and Bitcoin Wallet app from there.
- Once downloaded, open the application and click on “Create a new wallet”.
- You will be shown a bunch of recovery words next. It is recommended to jot them down in a sequence for later.
- Now, the app will put up a display of 12 of the recovery words in the incorrect order. You will be required to arrange them in the previously shown sequence. Once that step is done, you will automatically land on the TrustWallet’s main page.
- Go to the “BNB” and click on “Buy BNB”. Type in the amount of money you would like to invest in USD. Once done, click on “next”
- Now you will be asked to purchase the BNB using either a credit or debit card. Make your choice and wait for the purchase to process.
- Navigate back to the TrustWallet main page and you will be able to see how you have acquired some BNB. Click on “BNB” and hit the: More” option. Now click the “Swap to Smart Chain” button.
- Under the option “Swap”, click anywhere inside the BNB “You Pay” space. You will be provided with four options,
100%, 75%, 50%, and 25%.
Click on “100%” to transfer 100% of the BNB to the Smart Chain. Click on “Swap” and now press “Submit”. Wait as the process happens.
- Now navigate back to the TrustWallet main page where you will discover that your Smart Chain order is now fulfilled.
- For this step, if you have an Android, you can skip the first step. But iOS users will need to type in a URL that installs “dApps”. This is a browser in TrustWallet that gives access to PancakeSwap.
- Open your Safari browser and type in the following URL: “trust://browser_enable”. You will be prompted to “Open this page in ‘trust’”
- Click on the option ‘open’.
- In the TrustWallet application, tap on Browser in the bottom-most taskbar. (For Android users, the option Browser will be replaced with “dApps”)
- Click on the button that is labeled “Connect”. It will be found in the top-right corner and then click on “TrustWallet. You can observe how now the Smart Chain tokens are in PanCake Swap.
- Now, click on “Select a Currency”. Type in SafeMoon in the search bar.
- You will be notified, at this step, that there is a 10% fee tax applied to each transaction. You will also be asked to take “slippage” into notice. Slippage is when the executed price is not the same as the formerly quoted one, you are then required to allow a 12% buffer.
- There is an icon placed right next to the time symbol at the top right corner. PanCake Swap requests you to set your slippage tolerance to 12%. Save and exit the window once done.
- Click on “Swap” and then “Confirm Swap”. You will be presented with a message that says “Transaction submitted”.
- Now click on “View on BscScan”. On the status bar, you will be able to see “Success”. This message means that you have now been successful in converting the Smart Chain to SafeMoon. You can now exit PanCake Swap.
How to see SafeMoon in your TrustWallet Address
It will cross your mind now that you have successfully purchased SafeMoon but where can you see it? Do not be alarmed. Here is the step to take to enable SafeMoon in your TrustWallet. This will confirm that you have SafeMoon in your TrustWallet.
Step1: Copy the SafeMoon Contract Address from here:
Step 2: Go back to the TrustWallet main page and press the blue-colored icon present in the top right corner. Scroll to the bottom.
Step 3: Type in the word “Safe” in the search bar.
Step 4: Click “Add Custom Token”. Now change the network – which will be set to Ethereum – to Smart Chain and under “Contract Address”, paste the previously copied SafeMoon’s Contract Address. Click on “Save”.
Step 5: You are now able to successfully see SafeMoon tokens in your TrustWallet application!
Make sure you know that SafeMoon only came into existence this year. It will need time to grow and become completely risk-free. It is your job as a crypto investor to do your research to make sure what the risks are before investing in any cryptocurrency. If you are wondering, “Is SafeMoon a good option to opt for?” know that a coin’s main attraction to investors is its ‘tokenomic model’. Each time Safemoon is bought or sold, 5 percent of it is burned automatically, while the other 5 percent is redistributed to the rest of the SafeMoon holders. The goal of this process is to encourage people to keep holding their tokens bought on SafeMoon, instead of trading it constantly. This is the reason why SafeMoon hasn’t collapsed yet, as many other meme coins have.