Are you a crypto enthusiast? Then, the recent launch of Safemoon crypto must be a treat for you. This guide about Safemoon crypto will tell you everything you need to buy and understand how it works.
The story behind the inauguration of Safemoon is quite interesting. Safemoon was put forth to include certain amounts of volatility from the cryptocurrency marketplace. It was organized to benefit the long-run investors.
If you’re a newbie to the concept of Safemoon Crypto, then this guide will tell you everything you need to know about Safemoon Crypto.
- Everything You Need To Know About Bored Ape Yacht Club
- Everything you need to know about the World of Women
- What are NFT Gas Fees? And How to Avoid High Prices for NFT Gas Fees?
What is Safemoon Crypto?
Safemoon is a form of decentralized cryptocurrency that exists as “DeFi Token (Decentralized finance)”. Decentralized is anything that works on a peer-to-peer blockchain irrespective of a centrally governing body.
You can take the example of NFTs (as decentralized) and Banks (as centralized).
As for a cryptocurrency, it’s a pre-requisite to have its operations on blockchain networking. Safemoon also follows the same tradition.
But you might not be familiar with the drastic difference between Safemoon and the rest of cryptocurrencies.
“Safemoon works on the phenomenon of holding up to the tokens whereas the other cryptocurrencies work on selling them”.
The Rise of Safemoon Crypto
CSafemoon’s strength from the fact that it came into being during the success of the aura of a lot of cryptocurrencies. The incident took place in March 2021.
Be it Bitcoin, Dogecoin, Cardano, or any other cryptocurrency, Safemoon has been a solid concern.
Soon after its inception, Safemoon went through a successful surge that led to the temporary suspension of Binance-backed withdrawals. Although it is residing on a black list these days.
However, Safemoon crypto went through a record-breaking yield by May 2021. It not only surpassed the wish list of other cryptocurrencies but also gave a tough tie to Bitcoin.
Fees for Safemoon crypto
Now before you are about to make a solid purchase for Safemoon crypto, here are some certain tips that can help you move forward.
- Sale fees for Safemoon coins. An overall deduction of 10% fare. A certain calculated amount of these fees then goes out to the existing investors.
- The idea behind Safemoon crypto trading seems strange. Although the perspective behind it is enormous. The ones who put it forth believe that this will be beneficial to combat the volatility faced with other cryptocurrencies.
However, besides these measures, Safemoon crypto has also gone through a steady down surge. That occurred because of the concerns of investors and withdrawal means.
How and Where to Buy Safemoon?
To start up with buying Safemoon crypto coins, you’re required to head on to the Binance crypto exchange.
From the Binance crypto exchange, you can buy Binance coins. Why Binance coins?
This is how successful Safemoon investors do. They exchange their Binance coins for Safemoon coins.
Safemoon trades on a Binance blockchain ecosystem.
Where to buy it?
- Reach out to your respective app store. Download the Trust Wallet app.
- From the Trust Wallet, you are about to purchase any of the two cryptocurrencies.
- The two readily available cryptocurrencies are Binance and Bowscoin.
- Head on to the decentralized apps tab on your wallet. It can be viewed as Dapp.
- Get yourself the PancakeSwap app from all other decentralized apps.
- PancakeSwap will convert one of two previously mentioned cryptocurrencies into Safemoon.
Have your Safemoon token in your Trust Wallet!
Is Investing in Safemoon Crypto Safe?
Every other cryptocurrency works on the phenomenon of volatility, that determines their existing values.
But for Safemoon the indulgence of an additional penalty makes it a bit more complex. There are massive profit gains but the loss is inevitable to determine, too. If you’re considering investing in Safemoon Crypto, make sure to equip yourself with enough knowledge regarding the complications, happening in the world of cryptocurrencies.
There’s a huge debate on the existing working principles of Safemoon crypto that makes it no less than an old-school gambling scheme!
Despite all these considerations, Safemoon will also follow the trend of hype in increasing its sales value. Of course, some people love their digital adventures, always ready to take a risk!
Want to explore a safer investment? Go to NFTs Studio24 to learn more about the great NFT offers. You can also check out our latest NFT collections and upcoming NFT projects by aspiring artists from across the globe.