To trade SafeMoon Token, you need to choose decentralized exchanges (DEXs) on the Binance Smart Chain, like BiSwap or SafeMoon, based on your requirements. Cryptocurrency ATMs are becoming quite popular among investors to buy digital assets from. These allow you to buy crypto coins by inserting money into the machine. But you will have to account for a high trading commission – usually in the range of 10% or higher. We covered how significant it is to choose a regulated online broker for buying Safemoon. For instance, if you are choosing a long-term strategy – this means that you will be buying Safemoon and storing the tokens in your private digital wallet.
In addition, the price of SafeMoon is currently above the 50-day SMA, which is a bullish indicator. Meanwhile, the Fear & Greed Index, a popular measure of market sentiment, is 74 (Greed). All in all, 5 technical analysis indicators signal bullish activity, and 23 signal bearish activity. You can buy SafeMoon on several cryptocurrency exchanges, including gate.io and MEXC. With these steps completed, you’re now ready to purchase Safemoon. In the next steps, we’ll guide you through acquiring Safemoon using your MetaMask wallet connected to BSC.
SafeMoon version 1
- At the time of cashing out, the platform will send the money back to the same card.
- Write this down physically and store it somewhere incredibly secure and private.
- If you choose an online broker – you will have the convenience of purchasing Safemoon by paying for it in fiat currency such as US dollars or euros.
- There are several types of trading orders that you can use while buying Safemoon.
One of the places to buy SafeMoon is Trust Wallet, a non-custodial wallet that connects users to hundreds coding workshops for women of thousands of cryptocurrencies. Here we explain how to buy SafeMoon, what exactly it is, and where to store it. Once you have met the user verification requirement, you can transfer cash to your wallet and proceed to buy some Ethereum coins with it.
At the end of the day, Safemoon is fundamentally a speculative asset. Currently, it is one of the fastest-growing digital tokens circulating in the crypto markets. Fortunately, the lion’s share of regulated cryptocurrency platforms accepts debit card payments.
During setup, you will be given a seed phrase (usually 12 or 24 words). Write this down physically and store it somewhere incredibly secure and private. Safemoon, a popular cryptocurrency, gained attention due to its innovative tokenomics and community-driven approach. If you’re looking to invest, understanding how to buy Safemoon crypto through various platforms is essential. This guide covers where and how to purchase Safemoon, apps that support it, and answers to frequently asked questions to help you get started.
Company
- So, let’s walk through the essential steps to get you started with Safemoon.
- Market orders are generally executed quickly, as they are considered a high-priority order type.
- In addition, you should investigate the team behind the project and search forums and social media for any reports on security concerns.
- Keep in mind that this option may be less convenient if you frequently trade SafeMoon V2 (SFM) or utilize your assets.
- Being a centralized exchange, key decisions were taken without the knowledge of the community.
It might seem complex initially, but it becomes routine once you’ve done it a few times. Remember, this complexity is part of the DeFi landscape – more control, but also more responsibility on your part. Once you have BNB on the exchange, you need to withdraw it to the wallet address you set up in step one. SafeMoon isn’t typically bought directly with fiat currency (like USD or EUR). Since SafeMoon V2 is on the BNB Chain, the most common crypto to use is Binance Coin (BNB), specifically the BEP-20 version (Smart Chain BNB).
Buy Safemoon Paypal
For SafeMoon Wallet users, just update to the latest version of the app and follow the consolidation instructions. For users with any other type of crypto wallet, visit the SafeMoon Swap site to consolidate. Follow the exchange’s instructions to add a credit/debit card, bank account, or any other supported payment method. Keep in mind that the information required may differ ethereum mining profitability 2021 based on your bank’s security protocols.
Features and forms
If you have decided on buying the token, then you should consider a non-custodial wallet — and we’ve explained here how to buy SafeMoon on Trust Wallet. It keeps the token in your hands and has a bevy of other features as well. You will also have to switch the slippage fee to at least 12%, a buffer that facilitates the trade. You can change the slippage by heading to “Settings” in the upper-right corner. With any investment in crypto, never invest more than you afford to lose. The token has been particularly hyped on social media and endorsed by celebrities like Lil Yachty, Nick Carter, and YouTuber Logan Paul.
Because SafeMoon has faced several lawsuits and allegations of fraud, it remains to be seen whether the cryptocurrency will experience growth or strong user adoption in the future. Compared to the original version, SafeMoon V2 processes transactions at a much lower cost. If you hold original SafeMoon tokens in a wallet and choose to switch them to SafeMoon V2, it can only be done manually.
You can hold by safely keeping the digital assets in a centralized exchange or a personal wallet. You can even go further and earn through staking, lending, or yielding farming with your SafeMoon V2 (SFM) to generate passive earnings. Buying SafeMoon isn’t usually as straightforward as buying Bitcoin on Coinbase or Kraken, especially if you’re new to DeFi. Because it primarily lives on the BNB Chain and relies on decentralized exchanges (DEXs), the process involves a few more steps. Here’s a general guide, though specific details might change, so the continuous delivery maturity model always double-check with official SafeMoon sources or trusted crypto platforms.
On the other hand, if you settle for a cryptocurrency exchange, you will only be able to swap Safemoon for another digital asset like Bitcoin or Litecoin. If you have already purchased cryptocurrencies online, you might be familiar with the process of buying Safemoon. For those who are entirely new to digital assets, we have created a quick walkthrough of the steps involved.
Meaning – the price of the coin fluctuates with almost every second. Therefore, you need to be particularly careful of how you enter the market. This ‘buy and hold’ strategy can be more suitable for those who do not want to invest their time following the short-term price movements of Safemoon. Apart from the commission, you should also consider the Safemoon broker’s policy regarding deposit and withdrawal fees. These will be charged every time you process a transaction on the platform. The fact SafeMoon isn’t on the major exchanges is a giant red flag, notes Jeremy Britton, CFO of Boston Trading Co, a crypto investment fund.
Opening your position with a buy order indicates to your broker that you are expecting the price of Safemoon to go up in the future. There are several types of trading orders that you can use while buying Safemoon. We will cover the most important and useful ones in the following sections. We discussed how important it is to have a strategy when buying Safemoon.
The best way to store your crypto securely is by using cryptocurrency wallets. After funding your exchange account via one of the three options listed in the previous step, go to the trading page and search for the cryptocurrency you want to buy. The SafeMoon cryptocurrency is a popular memecoin in the style of Shiba Inu or Dogecoin. It was initially only available on Trust Wallet using the PancakeSwap decentralized exchange.
Go to the Wallet swap feature on the crypto wallet you are using and swap it with the amount of SAFEMOON you are willing to invest. If you are using SafeMoon Wallet, then there is an option/feature known as “Moonpay” (MoonPay is a financial technology company that builds payments infrastructure for crypto). Through Moonpay, buy/add BNB (Binance Coin) or any other crypto token like bitcoin in your wallet. It’s up to you how much amount you are willing to invest in SafeMoon and based on that purchase BNB. The key takeaway is that it is always best to stick with an online regulated broker when thinking of how to buy Safemoon.
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Step 2: Acquiring Ethereum (ETH)
Then simply hold the tokens to qualify for rewards from transaction fees generated by the platform. While centralized and decentralized exchanges exist to trade crypto assets, the difference is based on how they do it and their mode of operation. Factors that differentiate both include regulation, supported coins, liquidity, security, user experience, and custody. Part of SafeMoon’s transaction fee is added to the liquidity pool, which is essentially a smart contract holding a reserve of the token.