Have you heard of SafeMoon? SafeMoon is a new cryptocurrency that got viral with over million of searches in less than 2 weeks in April thanks to influencers such as DJ Afrojack and YouTubers such as Logan Paul and KeemStar. Currently, some traders call it a “social media crypto”.
In this article will to through what is SafeMoon, how to buy it and is it worth it?
Notice: Egorithms is not a financial advisor, provider, or expert. We are a fun media just trying to provide you information. We are not advising you on investing, because we are no experts, either. We will just tell you about the opportunity.
What is SafeMoon?
SafeMoon is a cryptocurrency that makes you hold. With over 1 million investors onboard, this blockhain-based is referrred as an “altcoin” – alternative coin for investment.
SafeMoon is a crypto that is meant for investors who want to play the long game – long-term investing, no trading. It is a “Auto-generating liquidity protocol”. It’s also referred as a DeFi Token that is community driven.
What’s different about SafeMoon? Why are people buying SafeMoon?
Everyone is buying SafeMoon for a few main reasons:
- Safemoon makes people hold. It charges you 10% fee if you decide to sell your altcoin.
- If you sell, 5% of the fee (fee for selling) is redistributed to all people who have already bough SafeMoon
- Social Media influencers are promoting the crypto and their followers are buying it which increases its value
Who created SafeMoon?
SafeMoon is one of the few cryptocurrencies that publicly states its creators. SafeMoon is created by a team of cryptolovers – John Karony (CEO), Thomas Smith (CTO), Hank Wyatt (DOSE), Jack Haines (COO), Trevor Church (CM) and Jacob Smith (Web Dev).
The CEO of SafeMoon – Johny Karony is a indie game developer. He used to work in the US department od Defence as a All-Source analyst. Thomas Smith (CTO of SafeMoon) is a software engineer who used to be CTO on a gaming company amd CIO for Blockchain Consulting team.
How to buy SafeMoon? Step-by-step guide
SafeMoon is still unavailable to buy on Binance. However, you can buy Safemoon via TrustWallet and the extension PancakeSwap.
— Joel Brown (@IamJoelBrown) May 8, 2021
Note: Investing =/= earning money. Investing is not safe. Currently, TrustWallet has had some difficulties with transactions & referal programs.
There is a step-by-step guide on buying SafeMoon. If you are a beginner, a new investor or this is their first time you are thinking about buying crypto, we can describe the process in these simple steps:
- Download Trust Wallet
You have to download and install it on mobile!
2. Open the app and from tab “Tokens” Select BNB or BSC.
“BNB” stands for Binance Coin. Smart Chain is a dual-chain architecture dual-chain architecture. You don’t have BNB? Here’s how to buy BNB.
If you want to turn BNB into BSC go to More > Swap to Smart Chain.
3. On Trust Wallet App go to tab DApps
4. From the DApps tab select “PancakeSwap”
iPhone users will have to enable the browser within TrustWallet by typing
trust://browser_enable within Safari.
5. Once you are on Pancake Swap make sure that your “From” is BNB or BSC & “To” is Safemoon. Then from “Settings” select the slippage tolerance to 11% then close that box.
6. Set an amount of BNB or BSC to turn into SafeMoon. Done!
Having troubles or issues when buying crypto? SafeMoon is missing?
Note: Be Safe! Don’t trade if you are not financially stable. Before buying crypto, always ask yourself – Will I need this money in the short term? Do I have enough savings? Does the amonut, that I’m willing to invest, belong to my savings? Be careful!