How to buy Safemoon?

What is SafeMoon? Everything you need to know about the fast-growing cryptocurrency

SafeMoon is one of the newest and fastest-growing cryptocurrencies, even in a market that’s recently seen Bitcoin reach record-high values and even the tongue-in cheek Dogecoin growing by over 11,000%.

Even so, SafeMoon is a most unusual digital currency, as it imposes a penalty on anyone who tries to trade their coins (or “tokens”). Only a few weeks old, its sheer newness also might lead some potential crypto buyers to see it as an unknown quantity. So, here’s everything you need to know about SafeMoon, and how you can buy the fledgling currency for yourself.

What is SafeMoon?

SafeMoon is an altcoin: a blockchain-based digital currency broadly similar to Bitcoin, but with some clear distinctions as well. It launched in March 2021 and has already racked up over 1 million users.

SafeMoon’s unique feature is that it charges a 10% fee to anyone who sells their tokens; 5% of this fee is then redistributed to all other SafeMoon owners, essentially rewarding those who hang onto their tokens and disincentivizing selling.

One criticism of cryptocurrencies like Bitcoin is how they’ve strayed from their original goal of providing a working, decentralized currency to simply become investable commodities; it’s not clear what, if anything, you’ll actually be able to buy with SafeMoon, but the selling fee is at least encouraging owners not to just buy and sell their tokens for now.

SafeMoon could also be seen as a more serious take on Dogecoin, the tongue-in-cheek altcoin with an unofficial rallying cry of “To the moon” — SafeMoon’s slogan is “Safely to the Moon.” 

Like Dogecoin, SafeMoon is worth a lot less than Bitcoin or Ethereum per-unit, but has been climbing in value. Coin Market Cap currently has each token at $0.000005, less than half its peak from earlier in April but a sharp increase from its $0.0000000010 launch value. 

That’s not enough for it to make it into the list of top cryptocurrency performers by market cap, but it’s already attracting attention from potential investors looking to get involved while SafeMoon is still cheap — despite the selling fee.

How To Buy SafeMoon Via PancakeSwap?

We get a lot of questions about how to buy SafeMoon, therefore we wrote this tutorial. We’re not sure if this is a good investment, but we do know that it’s extremely risky to invest in assets like these. Do your own research before buying SafeMoon and only invest crypto that you can afford to lose. The developer can theoretically rug the liquidity of the token, this is also called rug pulling.

In this tutorial we explain how you can buy SafeMoon via your iPhone. For Android it will almost be the same. There are of course several ways to invest in SafeMoon, even without a smartphone, but we like this method the most

 

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What do you need to buy SafeMoon?

 

Step-by-step guide to buy SafeMoon

 

  1. Download the Trust Wallet app on your smartphone, install the wallet and make a secure backup of your key phrase.
  2. Apply Binance Referral Id codeLog in to Binance (or create a new account, with us you will receive an extra 20% discount on all fees). A lot of blogs promise the discount, but don’t give it. You can easily verify this when you see the text on the image on the right.
  3. Make sure you own Binance Coin and go to the Binance Coin withdraw page. Check out our guide on how Binance works here.
  4. Open your Trust Wallet, click on Smart Chain and then on Receive. Copy the wallet address.
  5. Go to Binance again, paste the address at the Recipient’s BNB Address, select Binance Smart Chain (BSC) and send your BNB to your Trust Wallet.
  6. Give Binance half an hour to send your coins.
  7. After you received the coins, check Trust Wallet if Browser is visible between Wallet and DEX. If not, go to Safari and type trust://browser_enable to activate the dApp Browser. Click on Browser.
  8. Click on Pancakeswap.
  9. Click on Connect (sometimes you are automatically connected and sometimes you are not).
  10. Buy SafeMoonClick on the gear and type in 11%.
  11. At the top, enter the number of BNB you want to convert to SafeMoon.
  12. Below that field, click on Select a currency, paste 0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3 and SafeMoon will appear.
  13. Click on Swap.

You have now successfully bought SafeMoon! Read our review to learn more about Binance.