How To Buy SafeMoon (SAFEMOON)?

A common question you often see on social media from crypto beginners is “Where can I buy SafeMoon?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. 

Step 1: Create an account on an exchange that supports SafeMoon (SAFEMOON)

First, you will need to open an account on a cryptocurrency exchange that supports SafeMoon (SAFEMOON).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase SafeMoon (SAFEMOON) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy SafeMoon (SAFEMOON)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for SafeMoon (SAFEMOON) or SafeMoon (SAFEMOON) trading pairs. Look for the section that will allow you to buy SafeMoon (SAFEMOON), and enter the amount of the cryptocurrency that you want to spend for SafeMoon (SAFEMOON) or the amount of fiat currency that you want to spend towards buying SafeMoon (SAFEMOON). The exchange will then calculate the equivalent amount of SafeMoon (SAFEMOON) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of SafeMoon (SAFEMOON) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

Alternative ways to buy Safemoon (SAFEMOON)

Because the project is very new, it is only offered directly on a select number of exchanges. If you’re not comfortable connecting your bank account to any of these smaller exchanges, or if you cannot connect your bank account to them for geographical reasons. Then you can instead create an account on any of the major exchanges and simply transfer the funds from there.
Out of the major exchanges we recommend the following based on functionality, reputation, security, support and fees:

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

SafeMoon is a blockchain-based altcoin that emerged in March 2021, offering innovative features that set it apart from other digital currencies like Bitcoin. In a short period, it has gained significant attention, amassing over 1 million users.

One of SafeMoon’s distinctive characteristics is the 10% fee imposed on sellers. This fee serves a dual purpose: 5% is redistributed among existing SafeMoon holders, rewarding them for holding onto their tokens, while the other 5% discourages selling, promoting long-term investment and stability.

The SafeMoon Protocol seeks to address challenges faced by traditional cryptocurrencies, such as mining rewards, farming rewards, and liquidity provisioning. Traditional mining can be expensive and environmentally harmful, but it remains attractive due to the potential profits. SafeMoon offers an alternative approach by implementing a smart contract-based token reflection mechanism, allowing users to generate tokens within their wallets without the need for mining.

Decentralized exchanges require liquidity for seamless user participation, which often falls on developers to provide. Previous methods for incentivizing users to contribute liquidity have been met with varying degrees of success, often due to the risk of impermanent loss. SafeMoon proposes a solution through a smart contract function that automatically captures and provides liquidity for decentralized exchanges, independently from user possession.

Additionally, SafeMoon incorporates a smart contract with token burning capabilities, promoting scarcity by reducing the overall supply. This, combined with the other innovative tokenomics, presents a unique set of advantages for the community within the decentralized environment. By making these functions volume-dependent, SafeMoon creates an ideal incentive structure to accelerate adoption and encourage the development of new use cases.

Who Are the founders of SafeMoon?

SafeMoon was founded by a group of dedicated professionals with diverse backgrounds and skill sets. The core team members include:

• John Karony (CEO): As the Chief Executive Officer, John is responsible for overseeing the strategic direction and overall vision of the SafeMoon project. He has extensive experience in project management and team leadership.

• Thomas Smith (CBO): Serving as the Chief Blockchain Officer, Thomas brings his expertise in blockchain technology to the project. He is responsible for ensuring the technical aspects of SafeMoon’s blockchain infrastructure are efficient and secure.

• Hank Wyatt (CTO): As the Chief Technology Officer, Hank oversees the development and implementation of SafeMoon’s technological solutions. His background includes experience in software development, systems engineering, and network administration.

• Jack Haines (COO): Jack, the Chief Operating Officer, is responsible for managing the day-to-day operations of SafeMoon. His role involves coordinating and streamlining processes to ensure the project’s smooth functioning and growth.

• Jacob Smith (Web Developer): As the web developer for SafeMoon, Jacob is responsible for creating and maintaining the project’s online presence, including the website and various web-based applications.

• Charles Karony (Executive Assistant): Charles works closely with the rest of the team, providing administrative support and assistance in various aspects of the project’s management and execution.

Together, the SafeMoon team brings a wealth of knowledge and experience to the project, ensuring its ongoing success and growth within the rapidly evolving world of cryptocurrencies.

How Does SafeMoon Work?

What Makes SafeMoon Unique?

SafeMoon distinguishes itself from other cryptocurrencies through several unique features:

• Static Rewards: SafeMoon holders receive 5% of the tokens from every transaction, which is part of the 10% fee charged. This distribution, based on the volume of tokens traded, mitigates the downward sell pressure commonly associated with early adopters selling their tokens.

• Manual Burn: SafeMoon employs a token burn strategy that reduces the supply of tokens in order to increase their price and demand. This controlled burn process promotes scarcity and supports the token’s long-term value.

• Automatic Liquidity Pool: SafeMoon’s self-sustaining liquidity pool takes tokens from transaction fees and adds them to its liquidity pool on PancakeSwap. This establishes a robust price floor for the token and discourages whales from market manipulation by penalizing selling activities.

• SafeEarn: In addition to the benefits SafeMoon holders receive from simply holding the token, they can also participate in SafeEarn. This recently launched decentralized application on the Binance Smart Chain network enables SafeMoon holders to stake their tokens (or convert them into SafeEarn tokens) and automatically earn more SafeMoon. This extra incentive promotes long-term holding and further strengthens the SafeMoon ecosystem.

These unique features make SafeMoon an appealing choice for investors looking for a cryptocurrency that incentivizes holding and discourages market manipulation while fostering a self-sustaining and growth-oriented ecosystem.

Safemoon development updates in 2023

Safemoon has seen several updates in 2023, reflecting its ongoing development and efforts to remain relevant in the dynamic world of cryptocurrency. Here are the key developments:

• Wallet Update v3.50: This update, revealed in October 2023, brought significant enhancements to the Safemoon wallet. Users gained the ability to send and receive Cardano’s ADA token, a new dApp was introduced, and there were UI improvements for tracking supported chains. The update also included a revamp of how notifications work, moving transactions into the Transaction history and focusing Notifications History on news and updates. Additionally, there were bug fixes, including those addressing issues with displaying TradingView charts for iOS devices​​.

• Price Movement: Following the wallet update, Safemoon’s token price saw a positive reaction, rising by more than 5.5%. However, despite this uptrend, the token is still significantly down from its all-time high reached in March 2021. It’s important to note that Safemoon has experienced a mix of controversies and legal challenges, which have impacted its market performance and reputation​​.

• Web3 Movement and dApps: Safemoon is positioning itself within the Web3 movement, offering a network, platform, and innovative Web3 products. Their ecosystem includes various decentralized applications (dApps) like Safemoon SWaP, Safemoon Bridge, and a Wallet Tracker. They have also implemented migration programs for their tokens and are emphasizing the ease of integration and use of their products within the Web3 world​​.

• Token Interoperability: Safemoon has integrated interoperability into its token, allowing users to bridge their tokens across the Binance Smart Chain, Ethereum, and Polygon. This means that holders of the Safemoon Token can seamlessly transfer their tokens between these blockchain networks​​.

Overall, Safemoon’s efforts in 2023 show a continuous push towards innovation and improvement, despite the challenges it has faced. The focus on wallet functionality, price movement, expansion into Web3, and token interoperability are central to its strategy in navigating the competitive and fast-evolving cryptocurrency landscape.

Official website: https://safemoon.net/

Best cryptocurrency wallet for Safemoon (safemoon)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for safemoon (safemoon)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).