![]() SafeMoon states: "Set up your wallet to work on the Binance Chain Network. For SafeMoon, either Trust or Metamask are the two wallets the organization says should be used. To buy SafeMoon, cryptocurrency users have to buy a Binance Coin (BNB) first, and then essentially swap it for SafeMoon.įirst, users must set up a crypto wallet in which their coins can be kept. The organization said website issues may occur due to "unexpected" demand. The SafeMoon website appeared to be down at the time Newsweek tried to load it. One Reddit user claimed a whitepaper-a report that highlights the features of a product such as a cryptocurrency-is available on the website, but others said they had trouble accessing it. The mechanism by which SafeMoon rewards participants involves issuing a 10 percent penalty tax fee on sellers and redistributing five percent of this to people who already own the currency. Going "to the moon" is a phrase popularized in recent times by the WallStreetBets community on Reddit, who use it in reference to an asset price soaring. Its Facebook page states: "Remember, getting to the moon takes time and the longer you hold the more tokens you pick up." Elon Musk Changes Title From Tesla CEO to 'Technoking,' SEC Filing Shows.India Looks to Ban Crypto, Considers Seizing Digital Assets.Bitcoin Surges Despite Being Called a 'Particularly Vile Asset Class'.Just remember that using cryptocurrencies as investments is risky at the best of times - they're usually far more volatile than traditional stocks and the market is, at present, unregulated, In the end, it’s your own money on the line - so we'd suggest never investing more than you can afford to lose. You then visit PancakeSwap through the Trust Wallet app, find the SafeMoon page and swap your Binance there.Ī dedicated SafeMoon wallet is in the works, which may simplify the process. To use PancakeSwap, for instance, you first need to download the Trust Wallet app, then buy BinanceCoins (either BNB or BSC) and add them to the wallet. It’s a more complex process than simply buying a currency like Bitcoin, though: you basically need to buy BinanceCoin, another cryptocurrency, then swap it for SafeMoon. ![]() If you’re willing to take the risk, then you can buy SafeMoon from one of four crypto exchanges: PancakeSwap, BitMart, WhiteBit and Bakery Swap. Is SafeMoon safe?Ĭryptocurrencies are often highly volatile, and on current evidence SafeMoon doesn’t look to be much different: even as its value grows it’s still prone to big slides, one of which already occurred in April and another of which took place last month. That's not enough for it to make it into the list of top cryptocurrency performers by market cap, but it’s already attracting attention from potential investors looking to get involved while SafeMoon is still cheap - despite the selling fee. Coin Market Cap currently has each token at $0.00000436, down on its peak of $0.000014 in late April, but a sharp increase from its $0.0000000010 launch value. Like Dogecoin, SafeMoon is worth a lot less than Bitcoin or Ethereum per-unit, but had been climbing in value until recently. SafeMoon price: How much is SafeMoon worth? A billboard for the cryptocurrency appeared in New York's Times Square last month (May 10), along with a message proclaiming it "The world's fastest growing cryptocurrency.".The pair also announced that they were working with Simplex, a platform that enables users to purchase cryptocurrency using a credit or debit card.SafeMoon's CEO John Karony and COO Jack Haines have revealed plans to use Minecraft as a platform to test possible new features.SafeMoon value is up by 1.6% in the past 24 hours.SafeMoon could also be seen as a more serious take on Dogecoin, the tongue-in-cheek altcoin with an unofficial rallying cry of “To the moon” - SafeMoon’s slogan is “Safely to the Moon.” Latest SafeMoon news (Updated June 2) One criticism of cryptocurrencies like Bitcoin is how they’ve strayed from their original goal of providing a working, decentralized currency to simply become investable commodities it’s not clear what, if anything, you’ll actually be able to buy with SafeMoon, but the selling fee is at least encouraging owners not to just buy and sell their tokens for now. 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. It launched in March 2021 and has already racked up over 1 million users. SafeMoon is an altcoin: a blockchain-based digital currency broadly similar to Bitcoin, but with some clear distinctions as well. Just in: What is Amazon Sidewalk, and how to opt out. ![]()
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