Safe moon: Wondering how to buy Safemoon? A new type of cryptocurrency called SafeMoon is gathering interest amongst enthusiasts, search trends show.
Launched this month, SafeMoon claims it will reward people who buy and hold on to the cryptocurrency and issue a penalty to those who sell it on.
Note: Purchasing Safemoon involves a number of steps. Make sure you follow every step properly.
How to buy Safemoon?
- Download the app, Trust Wallet
You can download Trust Wallet from this Link. Then signup to create a new account (if not already created).
- Purchase BNB/BSC
Either purchase BNB/BSC directly on the Trust Wallet app, OR
Download the (downloading from this link will give you 10% extra on trade) Binance app, create a new account (if not made already). Purchase BNB there and transfer it to the wallet of Trust Wallet (Withdraw BNB to your Trust Wallet address).
Then convert BNB to BNB Smart chain by the following procedure: BNB –> More –> Swap to Smart chain)
- Go to the DApps tab at the bottom, and find PancakeSwap and click on it.
Note: iPhone users may need to enable the trust browser, then use the browser tab.
- Buying Safemoon
- Select BNB on the above “Select a currency” option.
In the below “Select a currency” option, either search for “Safemoon” or search by putting 0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3 contract address into the search field, and you should be able to find SafeMoon.
Before swapping, click on the cogwheel option shown above and set the slippage to between 11-12% (15% in some cases)
Now, set the amount you want to purchase and press the “Swap” button.
Confirm the transaction in the next option by pressing approve you will get Safemoon installed in your wallet/portfolio.
Recently, Safemoon has also become available for purchase on the Crypto wallet Bitmart.
About Safemoon Protocol
The Safemoon Protocol was launched back on March 8, 2021. As per the Safemoon website, the Safemoon Protocol is a community-driven, fair launched DeFi token that is based on three main functions: Reflection(Static Rewards), LP Acquisition, and Burn. The Static Rewards are earned by people when they hold the cryptocurrency for long periods of time.
The Automatic LP helps to stabilise the price of the crypto by creating a solid price floor. Finally, Safemoon penalises sellers with a 10 per cent selling fee which is then distributed among the people who are holding the crypto. As per the Safemoon website, the Safemoon Price is 0.000000859 USD currently.
The tagline of Safemoon on their Facebook is, ‘Remember, getting to the moon takes time and the longer you hold the more tokens you pick up.’ ‘Going to the Moon’ is a popular phrase coined by the WallStreetBets community on Reddit. Basically, what it means is, if you buy crypto or a share, you should hold on to it till the prices on the particular investment skyrocket to the Moon. Stay tuned for more news on cryptocurrency and technology.