The Easiest Way to Buy Safemoon Crypto Assets
“How to buy Safemoon Crypto Assets” is a question reckless investors are asking, especially as many claim that the new moon-inspired digital asset could be the next Dogecoin. Screaming “to the moon!”, SafeMoon supporters believe it could follow the same upward trajectory as Dogecoin.
On top of that, David Portnoy, internet celebrity and founder of Barstool Sports, has endorsed SafeMoon as his favorite meme token, causing the cryptocurrency to skyrocket to new heights. Whether you’ve missed the Dogecoin rally or just want to diversify your cryptocurrency portfolio with a new trendy altcoin, we’ve got the scoop on how you can buy SafeMoon.
- What Is SafeMoon (SAFEMOON Crypto)?
- Who are the founders of SafeMoon?
- What makes SafeMoon unique?
- SAFEMOON Price Live Data
- How to buy Safemoon Crypto Assets
- Using PancakeSwap to Convert Smart Chain to SafeMoon
- How to view SafeMoon on your TrustWallet
What Is SafeMoon (SAFEMOON Crypto)?
SafeMoon Protocol is a decentralized finance token (DeFi). According to the SafeMoon website, SafeMoon has three functions that take place during each exchange: Reflection, LP Acquisition, and Recording.
The SafeMoon protocol is a combination of RFI tokenomics and an automatic liquidity generation protocol. According to an article, SafeMoon plans to develop a non-fungible token exchange (NFT), as well as charity projects and crypto educational applications. With the SafeMoon protocol, token holders will earn more SAFEMOON depending on how many coins they have. This can be up to 80% APY, which is staggering compared to traditional interest accounts. The SafeMoon protocol will gain value over time thanks to its coin-burning strategy, turning it into a deflationary digital currency.
The SafeMooon Protocol will be expanded to include an NFT marketplace and a coin launch pad that will allow users to create their own cryptocurrencies through the platform. The SafeMoon protocol has an ambitious roadmap thanks to its growing popularity and they want to be listed on major exchanges, launch a decentralized exchange (DEX), and increase their partnerships by the end of 2021.
SafeMoon launched on March 8, 2021.
Who are the founders of SafeMoon?
John Karony is the CEO of SafeMoon, according to his Twitter profile.
What makes SafeMoon unique?
The SafeMoon whitepaper notes that a big problem in the emerging DeFi industry is the existence of high APY LP farms that are not easily accessible to newcomers to the space.
With SafeMoon, your goal is to use the idea of static rewards (making the reward conditional on the volume of the token being traded) to remove any pressure on the token that could occur when the tokens are sold. Additionally, the white paper notes that its “think tank” adds an incentive for SafeMoon holders to hold onto their tokens longer, or HODL. SafeMoon’s automatic LP also adds stability to the protocol by providing a minimum price / cushion for token holders. SafeMoon’s manual burn strategy also helps SafeMoon’s token holders in the long term, according to their whitepaper.
SAFEMOON Crypto Price Live Data
The live SafeMoon price today is $0.000003 USD with a 24-hour trading volume of $13,052,638 USD. SafeMoon is down 1.05% in the last 24 hours. The current CoinMarketCap ranking is #207, with a live market cap of $1,624,040,037 USD. It has a circulating supply of 585,536,366,402,812 SAFEMOON coins and the max. supply is not available.
Source – CoinMarketCap, Data was taken on 14 July 2021
How to buy Safemoon Crypto Assets
Buying SafeMoon isn’t a straightforward process, but with these easy-to-follow step-by-step instructions, you’ll have your DeFi tokens in no time. For this guide, I’ll be using PancakeSwap as the main SafeMoon exchange. Please note that there is a maximum of $ 2,000 worth of SafeMoon purchases at Pancake Swap.
Convert BNB to Smart Chain via Trust Wallet
1. Download the Trust Wallet: Crypto & Bitcoin Wallet app from the app store (on iOS and Android).
2. Open the app and tap “Create a new wallet.”
4. You’ll be given a dozen recovery words. Write them down sequentially in a notebook for safekeeping.
5. Next, the app will show you your 12 recovery words non-sequentially. Tap the words in the right order and you’ll land on TrustWallet’s main page.
6. Navigate to “BNB” and tap “Buy BNB.” Input how much money you’d like to invest in USD and hit “Next.”
7. You’ll be prompted to purchase BNB with a credit or debit card. Wait until the purchase is processed.
8. Head back to TrustWallet’s main page and you should see you now have some BNB. Tap on “BNB,” hit “More” and tap on “Swap to Smart Chain.”
9. Under “Swap,” tap anywhere within the BNB “You Pay” space. This will bring up four options: 100%, 75%, 50% and 25%. Tap “100%” to transfer 100% of your BNB to Smart Chain. Tap “Swap,” hit “Submit” and wait for the conversion to process.
10. Head back to TrustWallet’s main page and you should see that your Smart Chain order is fulfilled.
Using PancakeSwap to Convert Smart Chain to SafeMoon
For the next set of instructions, if you have Android, you can skip the first step. But if you have iOS, you will need to type a URL to install “dApps“, a browser on TrustWallet that gives you access to PancakeSwap.
1. Open Safari and type “trust://browser_enable.” A prompt will appear with the following message: “Open this page in ‘trust’?” Tap “Open.”
2. In the Trust Wallet app, tap on “Browser” on the bottom taskbar (in Android, instead of “Browser,” you’ll see the word “dApps“). Next, tap on “PancakeSwap.”
3. Tap the “Connect” button on the top-right corner and hit “TrustWallet.” You should see that your Smart Chain tokens are now in PancakeSwap.
4. Tap “Select a currency” and type in “SafeMoon” into the search bar.
5. A notice will pop up to inform you that SafeMoon taxes a 10% fee on each transaction. (It will also ask you to take “slippage” into account, which is when the executed price is different from the initial quote; you’re required to allow a 12% buffer.)
6. Tap on the icon next to the time symbol on the top-right corner, and as requested by PancakeSwap, set your slippage tolerance to 12%. Click “X” to save and exit the window
7. Tap “Swap” and “Confirm Swap.” This will prompt a “Transaction submitted” message to pop up.
8. Click on “View on BscScan.” The status bar should say “Success,” proving you successfully converted Smart Chain into SafeMoon. Exit PancakeSwap.
How to view SafeMoon on your TrustWallet
At this point, you’re probably wondering, “Okay, I bought SafeMoon, but where are they?” Do not worry! Follow these steps to enable SafeMoon on TrustWallet and confirm that you have them.
1. Copy SafeMoon’s Contract Address here: 0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3
2. Navigate back to TrustWallet’s main page. Click the blue icon on the top-right corner and scroll to the bottom.
3. In the search bar, type in “Safe.”
4. Tap on “Add Custom Token.” Change the network from Ethereum to Smart Chain. Under “Contract Address,” paste SafeMoon’s Contract Address. Tap “Save.”
5. Voila! You should see your SafeMoon tokens in the TrustWallet app.
Keep in mind that SafeMoon is still in its infancy, so while some are optimistic that it is the next Dogecoin, others are skeptical – it’s too early to tell if SafeMoon is headed for greatness or ruin. As with any investment, you must assess your tolerance for risk and act accordingly.
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