What is SafeMoon? Price, where to buy, news and more
What is SafeMoon? Cost, where to buy, news and more
Editor'south annotation
Be conscientious with cryptocurrency. The crypto market is highly volatile and we do not recommend whatsoever detail cryptocurrency.
SafeMoon is one of the newest and fastest-growing cryptocurrencies, even in a market that saw Bitcoin and Ethereum achieve record-high values in recent months.
Even then, SafeMoon is a most unusual digital currency, every bit it imposes a penalization on anyone who tries to merchandise their coins (or "tokens"). But a few months onetime, its sheer newness too might lead some potential crypto buyers to run into it as an unknown quantity.
That said, it's been attracting a fair bit of attention of late, and so it'southward possible that you've landed on this page with the intention of investing in it. If that's the instance, so tread carefully.
Cryptocurrencies tin can make for risky investments, due to the inherent volatility in the marketplace. They're non like nearly traditional stocks, where gains — and falls — tend to be incremental; fortunes have been wiped out overnight. Never invest more than you tin can afford to lose and do your enquiry start.
Information technology's as well possible that you just desire to detect out more about what SafeMoon actually is — in which example, read on for our full guide.
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What is SafeMoon?
SafeMoon is an altcoin: a blockchain-based digital currency broadly similar to Bitcoin, simply with some clear distinctions too. It launched in March 2021 and has already racked up over i meg users.
SafeMoon'south unique feature is that it charges a 10% fee to anyone who sells their tokens; five% of this fee is then redistributed to all other SafeMoon owners, essentially rewarding those who hang onto their tokens and disincentivizing selling.
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 bolt; it's non clear what, if anything, you'll actually be able to buy with SafeMoon, just the selling fee is at least encouraging owners non to just buy and sell their tokens for at present.
SafeMoon could also be seen every bit a more than serious have 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)
- SafeMoon value is up by 1.6% in the past 24 hours. It'due south currently at $0.00000436.
- SafeMoon'south CEO John Karony and COO Jack Haines have revealed plans to employ Minecraft as a platform to test possible new features.
- The pair also announced that they were working with Simplex, a platform that enables users to purchase cryptocurrency using a credit or debit carte du jour.
- A billboard for the cryptocurrency appeared in New York's Times Square last month (May ten), along with a message proclaiming it "The earth's fastest growing cryptocurrency."
SafeMoon price: How much is SafeMoon worth?
Like Dogecoin, SafeMoon is worth a lot less than Bitcoin or Ethereum per-unit of measurement, simply had been climbing in value until recently. Money Marketplace Cap currently has each token at $0.00000436, down on its acme of $0.000014 in tardily Apr, but a abrupt increment from its $0.0000000010 launch value.
That's non enough for it to make information technology into the list of top cryptocurrency performers by market place cap, simply it's already attracting attention from potential investors looking to get involved while SafeMoon is still cheap — despite the selling fee.
Is SafeMoon condom?
Cryptocurrencies are often highly volatile, and on current show SafeMoon doesn't look to be much different: even as its value grows it'southward still prone to big slides, one of which already occurred in Apr and another of which took place terminal calendar month.
How to buy SafeMoon
If you're willing to take the risk, then y'all can buy SafeMoon from 1 of four crypto exchanges: PancakeSwap, BitMart, WhiteBit and Baker Bandy. It's a more complex process than but buying a currency like Bitcoin, though: you basically need to buy BinanceCoin, another cryptocurrency, then swap it for SafeMoon.
To use PancakeSwap, for case, you kickoff need to download the Trust Wallet app, and so buy BinanceCoins (either BNB or BSC) and add them to the wallet. You then visit PancakeSwap through the Trust Wallet app, detect the SafeMoon page and swap your Binance there.
A dedicated SafeMoon wallet is in the works, which may simplify the procedure. 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 — and then we'd propose never investing more than yous can afford to lose.
- More: These are the all-time crypto wallets right now
Source: https://www.tomsguide.com/news/what-is-safemoon-price-where-to-buy-news
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