Cryptocurrency

SafeMoon Crypto Do Not Buy Before Reading This

SafeMoon Crypto is one of the most current and quickest developing cryptographic forms of money. This is what you need to think about it

SafeMoon is one of the most up-to-date and quickest developing digital forms of money.

SafeMoon is a most surprising computerized money, as it forces a punishment on any individual who attempts to exchange their coins. Half a month old, its sheer freshness may lead some potential crypto purchasers to consider it to be an obscure amount.

All things considered, it’s been drawing in a reasonable piece of consideration recently. So it’s possible that you’ve arrived on this page fully intent on putting resources into it. Assuming that is the situation, proceed cautiously.

What is SafeMoon Crypto?

safemoon Crypto

SafeMoon is an altcoin: a blockchain-based computerized cash extensively like Bitcoin, however for certain reasonable differentiations also. It dispatched in March 2021 and has effectively piled up more than 1 million clients.

SafeMoon’s one of a kind component is that it charges a 10% expense to any individual who sells their tokens; 5% of this charge is then rearranged to any remaining SafeMoon proprietors, basically compensating the individuals who cling to their tokens and disincentivizing selling.

One analysis of digital forms of money like Bitcoin is the means by which they’ve wandered from their unique objective of giving a working, decentralized cash to just become investable products.

It’s not satisfactory what you’ll have the option to purchase with SafeMoon. However, the selling charge is in any event urging proprietors not to simply purchase and sell their tokens for the present.

SafeMoon could likewise be viewed as a more genuine interpretation of Dogecoin, the facetious altcoin with an informal revitalizing cry of “To the moon” — SafeMoon’s trademark is “Securely to the Moon.”

Latest SafeMoon Crypto news (Updated May 20)

  • SafeMoon has suffered a big drop in the past week. Down from $0.00001 on Sunday (May 16) to around $0.0000045 at one stage. It’s currently at $0.0000058.
  • SafeMoon’s CEO John Karony and COO Jack Haines have revealed plans to use 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 card.
  • A billboard for the cryptocurrency appeared in New York’s Times Square recently (May 10), along with a message proclaiming it “The world’s fastest-growing cryptocurrency.”

SafeMoon price: How much is SafeMoon worth?

Like Dogecoin, SafeMoon is worth very much not exactly Bitcoin or Ethereum per-unit, however had been moving in esteem up to this point. Coin Market Cap as of now has every token at $0.0000058, down on its pinnacle of $0.000014 in late April, yet a sharp increment from its $0.0000000010 dispatch esteem.

That is insufficient for it to make it into the rundown of top digital money entertainers by market cap, yet it’s as of now standing out from potential financial backers hoping to get included while SafeMoon is as yet modest — regardless of the selling charge.

Is SafeMoon Crypto safe?

Cryptocurrencies 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 on May 19th.

While that’s par for the course with a lot of investments, SafeMoon has also been compared to a Ponzi scheme, as any profits you could make in future are based on someone paying more for the tokens than you did further down the line. The selling fee and redistribution model could also be said to encourage early adopters, who would then gain the most from subsequent sales.

Cryptocurrency investor and influencer Lark Davis warned against SafeMoon on Twitter, saying, “Remember just because you make money off of a Ponzi does not change the fact that it is a Ponzi.” Davis also compared SafeMoon to BitConnect, a cryptocurrency that shut down in 2018 after two U.S. state-level securities regulators publicly warned investors of its similarities to a Ponzi scheme.

WarOnRugs, an anti-scamming collective focused on cryptocurrency, has also criticised SafeMoon’s owners for locking away more than 50% of its own liquidity pool. The group claims this could result in a “rug pull,” a form of exit scam whereby liquidity is intentionally drained from a market, leaving traders unable to sell. SafeMoon CEO John Karony maintains that liquidity is held to make the currency more secure.

How to buy SafeMoon

In the event that you’re willing to face the challenge, you can purchase SafeMoon from one of four crypto trades: PancakeSwap, BitMart, WhiteBit, and Bakery Swap. It’s a more perplexing interaction than just purchasing cash like Bitcoin, however: you fundamentally need to purchase BinanceCoin, another digital money, at that point trade it for SafeMoon.

To utilize PancakeSwap, for example, you first need to download the Trust Wallet application, at that point purchase BinanceCoins (either BNB or BSC) and add them to the wallet. You at that point visit PancakeSwap through the Trust Wallet application, discover the SafeMoon page and trade your Binance there.

A devoted SafeMoon wallet is in progress, which may improve the cycle. Simply recall that utilizing digital currencies as speculations is dangerous under the most favorable circumstances — they’re generally undeniably more unstable than customary stocks and the market is, as of now, unregulated, In the end, it’s your own cash on the line — so I’d suggest never investing more than you can afford to lose.

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Disclaimer

This Safemoon Review Article isn’t aimed at defaming Safemoon nor is it targeted to promoting them. 

This article is strictly for enlightening purposes and an honest guide from my perspective because I strongly believe every brand needs a good 

Therefore, you are at liberty to accept or reject this article and act base on your own perspective of the platform. You are encouraged to share your own opinion or views about the platform with me via the comments box below so as to further improve this Safemoon review.

I get commissions for purchases made through links in this post.

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