How To Buy SafeMoon (SAFEMOON)?

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:

1

 Gate.io

Create Gate.io Account

Fees (Maker/Taker)                    0.2%*-0.2%*

Cryptocurrencies
Available for Trade                           
1000+

Sign-up bonus
 Up to $100 in USDT vouchers*

Available in
North America, South America, Europe, Asia, Oceania, Africa

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:

1

 Binance

Create Binance Account - How To Buy Safemoon

Fees (Maker/Taker)            0.075%*-0.1%*

Cryptocurrencies
Available for Trade                             500
+

Sign-up bonus
 10% reduced trading fees*

Available in
Europe, Asia, Oceania, Africa

2

 Coinbase

Create Coinbase Account - How To Buy Safemoon

Fees (Maker/Taker)             1.49%*-3.99%*

Cryptocurrencies
Available for Trade                              75
+

Sign-up bonus
 $10 sign-up bonus*

Available in
North America, South America, Europe, Asia, Oceania, Africa

3

 FTX US

Create FTX US Account

Fees (Maker/Taker)            0.10%*-0.40%*

Cryptocurrencies
Available for Trade                             45
+

Sign-up bonus
 5% reduced trading fees*

Available in
North America, South America, Europe, Asia, Oceania, Africa

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. 

Simplecryptoguide.com

What Is SafeMoon (SAFEMOON)?

SafeMoon is an altcoin: a blockchain-based digital currency broadly similar to Bitcoin, but with some clear distinctions as well. It launched in March 2021 and has already racked up over 1 million users.

SafeMoon’s unique feature is that it charges a 10% fee to anyone who sells their tokens; 5% of this fee is then redistributed to all other SafeMoon owners, essentially rewarding those who hang onto their tokens and disincentivizing selling.

SafeMoon Protocol aims to solve the problems of prior cryptocurrencies including mining rewards, farming rewards, and liquidity provisioning. Mining equipment can be both costly and harmful to the environment, but mining remains of interest due to the opportunities afforded by it. As an easy alternative to mining rewards, we propose allowing users to participate in a smart contract token reflection to produce tokens inside their own wallet. Another challenge remains to facilitate and maintain liquidity on decentralized exchanges. By nature, decentralized exchanges require liquidity for user participation, thus the responsibility is on the developers to provide it. Historically, developers created incentives aimed at users to provide liquidity which can be outweighed by risk due to the subjectivity of impermanent loss. As a solution, we propose utilizing a smart contract function to automatically capture liquidity to be used on the decentralized exchanges and held in custody independent from user possession. Additionally, a smart contract that provides the capability to burn tokens can promote scarcity by reducing the total supply. Together, the combination of these tokenomics may afford far superior benefits for the community within the decentralized venue. Allowing these functions to be amplified and dependent on volume provides an ideal incentive to expedite adoption and foster new use cases.

Who Are the founders of SafeMoon?

The team behind the project consists of Thomas Smith (CBO), John Karony (CEO), Hank Wyatt (CTO), Jack Haines (COO), Jacob Smith (web developer), and Charles Karony (executive assistant).

How Does SafeMoon Work?

The SafeMoon protocol works around the platform’s BEP-20 SafeMoon token, which operates with a mix of auto-liquidity generation as well reflection tokenomics. The token’s deflationary mechanism has already burned 400 trillion tokens. 
Each SAFEMOON transaction charges a 10% fee, thereby distributing 5% of the fee to SAFEMOON holders, while the other 5% fee is further split in two.
From the percentage that is split in two, half is sold by a smart contract into Binance Coin (BNB) while the other half is automatically paired to BNB and added to PancakeSwap’s liquidity pool

With this mechanism, the fans who hold onto the token are rewarded with static rewards, while those who sell their SAFEMOON tokens are disincentivized for continuous selling. Overall, this stabilizes the token’s price and funds the project’s liquidity.

What Makes SafeMoon Unique?

SafeMoon stands out from its competition, thanks to its features that include;

Static Rewards 

Static rewards are the 5% tokens distributed to SafeMoon holders. The amount distribution is based on the volume of tokens traded as the 5% is a part of the 10% fee charged on every transaction. This helps solve the downward sell pressure that is often the case when early adopters sell their tokens.

Manual Burn

This feature implements a token burn strategy for SAFEMOON such that the supply of tokens reduces to increase its price and demand.

Automatic Liquidity Pool

SafeMoon features a self-sustaining liquidity pool that sucks up tokens from transactions in the form of fees and adds them to SafeMoon’s liquidity pool on PancakeSwap. This adds a solid price floor for the token. It also penalizes selling activities, thereby discouraging whales from dumping the token in the markets.

SafeEarn

In addition to the gains that SAFEMOON holders benefit from simply HODL-ing the SafeMoon token, users get to earn more incentives with SafeEarn. SafeEarn is a newly launched decentralized application on the Binance Smart Chain network that allows SafeMoon holders to stake their SafeMoon token (or convert them into SafEarn tokens) and automatically earn more SafeMoon.

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).

Ledger Hardware Wallet
Trezor Hardware Wallet

Market Overview

Coinmarketcap.com

Find the latest SafeMoon (SAFEMOON) price chart, trade volume, market cap, and other vital information to help you with your cryptocurrency trading and investing.

Coinmarketcap will be your cryptocurrency go-to for just about everything. Here you can see the following:

Market Capitalization And Daily Trading Volume

Current Market Price Of Every Cryptocurrency Relative To USD (And Some Local Currencies)

Circulating And Total Supply

Historical Charts With Prices Relative To USD, Bitcoin (BTC), And Ethereum (ETH).

CMC - How To Buy Safemoon

Pin It on Pinterest