In this guide, we will talk about where and how to buy SafeMoon, the new emerging cryptocurrency that is still worth shallow figures and has extreme popularity and exponential growth forecasts.
“How to Buy SafeMoon” is a question that many investors who like risk and big gains ask themselves!
Especially since many say, the new moon-inspired digital asset could be the next Dogecoin.
Shouting “Go to the moon!” (Go to the Moon!), SafeMoon supporters believe it could follow the same upward trajectory as Dogecoin.
Additionally, Internet celebrity and founder of Barstool Sports David Portnoy endorsed SafeMoon as his favorite meme token, which has led cryptocurrency to incredible new prices.
If you missed Dogecoin’s bull run or want to diversify your cryptocurrency portfolio with a new trendy altcoin, read the guide to buying SafeMoon here.
SafeMoon, what is it, and how does it work?
Before opening an account at a SafeMoon supported cryptocurrency exchange, let us first explain how SafeMoon works.
SafeMoon is classified as a decentralized finance (DeFi) token.
Decentralized finance, by the way, is a cryptocurrency movement that seeks to offer an alternative financial system that avoids centralization (i.e., management by an authoritative system such as banks and government entities).
SafeMoon, which operates on the Binance Smart Chain blockchain, launched on March 8, 2021, but took off like a rocket on Twitter and TikTok in mid-April 2021, sparking interest among many cryptocurrency investors.
On April 20, Binance even had to temporarily suspend withdrawals from its platform due to the sudden influx of investors into SafeMoon.
Before buying the trending DeFi token, you should know that SafeMoon penalizes sellers with a 10% commission and redistributes half to other token holders to incentivize buying and holding.
SafeMoon was created to address several issues plaguing cryptocurrencies today, including price volatility and the bad habit of cryptocurrency investors of immediate selling.
Cryptocurrency blogger Lou Bagel says that SafeMoon’s benefit is that you will continue to make money as new people buy. Still, the downside is that if no one buys SafeMoon, investors will receive little or nothing, and low demand will plummet the price.
According to CoinMarketCap, SafeMoon was trading at around € 0.000003 on June 14, 2021.
SafeMoon in April 2021 skyrocketed to an all-time high of $ 0.00014, an increase of nearly 7,000%.
If you had invested $ 1,600 in SafeMoon in March 2021, you would have had a small amount of $ 60,000 in your hand a month later.
However, as of this writing, SafeMoon is trading at around $ 0.0000004, a sign that SafeMoon is still a highly speculative digital asset despite the team’s efforts to curb its volatility.
Where and how to buy SafeMoon cryptocurrency
There are two ways to buy SafeMoon.
The first way is to buy the SafeMoon token directly on an exchange.
In this case, you need to open an account on an exchange platform.
Make a deposit, convert the funds into cryptocurrency and then convert the USDT into SafeMoon.
SafeMoon is currently available on the following exchanges:
- Gate.io
- MXC.com
- BitMart
- WhiteBIT
- ZBG
The other method is more difficult: to open an account with Binance and own Binance Coins (at least 0.1 BNB) and convert them into SafeMoon on PancakeSwap, a popular DEX making sure to send them to your BSC (Binance Smart Chain) wallet.
Let’s see how to do it.
Buying SafeMoon isn’t an easy process, but with these detailed and easy-to-follow instructions, you’ll have your DeFi tokens in no time.
In this guide, we will be using PancakeSwap as the primary exchange to get SafeMoon.
Note that there is a maximum of $ 2,000 on SafeMoon purchases on PancakeSwap.
Convert BNB on Smart Chain with Trust Wallet
- Download the Trust Wallet: Crypto & Bitcoin Wallet app from the app store (iOS and Android).
- Open the app and tap “Create a new wallet.”
- Review the Privacy Policy and Terms of Service. Check the box next to “I have read and agree to the Terms of Service and the Privacy Policy.”
- You will be given a dozen recovery words. Write them down in sequence in a notebook to keep them safe.
- Next, the app will show you your 12 recovery words non-sequentially. Tap the words in the right order, and you’ll land on the TrustWallet main page.
- Go to “BNB” and tap “Buy BNB.” Next, enter how much money you want to invest in USD or EUR and press “Next.”
- You will be asked to purchase BNB with a credit or debit card. Then, wait for the purchase to be processed.
- Go back to the TrustWallet main page, and you should see that you now have BNBs. Tap “BNB,” press “More,” and tap “Switch to Smart Chain.”
- Under “Trade,” tap anywhere within BNB’s “Pay” space. Four options will be displayed: 100%, 75%, 50% and 25%. Tap “100%” to transfer 100% of your BNB to the Smart Chain. Tap “Exchange,” hit “Submit,” and wait for the conversion to be processed.
- Go back to the Trust Wallet main page, and you should see that your Smart Chain order has been fulfilled.
Use PancakeSwap to convert Smart Chain to SafeMoon
For the next set of instructions, if you have Android, you can skip the first step. But if you have iOS, you will need to type in a URL to install “dApps,” a browser in TrustWallet that gives you access to PancakeSwap.
- Open Safari and type “trust: // browser_enable”. A prompt will appear with the following message: “Open this page in trust” Tap “Open.”
- In the Trust Wallet app, tap “Browser” in the bottom taskbar (on Android, instead of “Browser,” you will see the word “dApps”). Then, tap “PancakeSwap.”
- Tap the “Connect” button in the top right corner and press “TrustWallet.” You should see that your Smart Chain Tokens are now in PancakeSwap.
- Tap “Select a currency” and type “SafeMoon” in the search bar.
- A notice will be displayed informing you that SafeMoon charges a 10% commission on each transaction. (It will also ask you to take “slippage” into account, which is when the executed price is different from the initial quote; you are prompted to allow a buffer of 12%.)
- Tap the icon next to the hour symbol in the top right corner and, as required by PancakeSwap, set the slip tolerance to 12%. Finally, click “X” to save and exit the window.
- Tap “Trade” and “Confirm Trade.” You will see a “Transaction sent” message.
- Click “View on BscScan.” The status bar should say “Success,” showing that you have successfully converted Smart Chain to SafeMoon. Exit PancakeSwap.
How to find SafeMoon in your TrustWallet
At this point, you are probably wondering: “Okay great, I bought some SafeMoons, but now where did they go?”.
Do not worry! Follow these steps to enable SafeMoon in TrustWallet and confirm that you have them.
- Copy the SafeMoon contract.
- Go back to the TrustWallet main page. Click the blue icon in the upper right corner and scroll down.
- In the search bar, type “Safe.”
- Tap “Add Custom Token.” Change the network from Ethereum to Smart Chain. In “Contract Address,” paste the SafeMoon contract address. Tap “Save.”
- Voila! You should see your SafeMoon tokens in the TrustWallet app. Keep in mind that SafeMoon is still in its infancy, so while some are optimistic that it’s the next Dogecoin, others are skeptical – it’s too early to tell if SafeMoon destiny will be greatness or failure. As with any investment, you should evaluate your risk tolerance and act accordingly.
How to sell SafeMoon?
Now that you know where and how to buy SafeMoon, it’s time to discover how to sell SafeMoon. You have to follow these simple steps:
- Go to PancakeSwap and convert SafeMoon to BNB
- Convert Smart Chain BNB to BNB
- Send your BNBs to your Binance account
- Sell SafeMoon in the general market
- Execute the withdrawal of the money obtained from the sale
If you are not very practical to open accounts at many exchanges and equip yourself with wallets and wallets that can keep it, you should wait for it to be added to the list of cryptocurrencies available on platforms such as eToro.
If you are not ready to buy it as it is possibly a new token in the trading market, add it to your checklist and look forward to some engaging trading opportunities in the future.
You can also check the performance of cryptocurrencies in real-time across various platforms and make wise decisions that fit your needs.
