It’s important to use a secure wallet that prevents anyone else from gaining access to it. As many altcoins are not available on the more well-known wallets, malicious actors have developed faulty wallets that will scam the holder out of their funds. With so many options available, we’ve looked at some of the most secure options for storing your crypto tokens. SAFEMOON is not currently supported on any https://forexbitcoin.info/ of the main cryptocurrency exchanges like Coinbase, Binance or CryptoWallet.com. If you plan on holding SafeMoon over the long term, you’ll also benefit from the reflections as you receive a portion of the fee incurred whenever other people sell their tokens. This is a financial incentive you won’t get from holding most other popular cryptocurrencies, where you only make money if the price goes up.
- While Safemoon navigates through 2024, the path is still filled with uncertainties but also potential for growth.
- The crypto landscape is ever-changing, and what’s in vogue today might not be popular tomorrow.
- Whether you’re seeking breaking news, expert opinions, educational resources, or market insights, Cryptonews.com is your go-to destination for all things crypto since 2017.
- Some presales perform astoundingly well, reaching their goals in a matter of days, while others can struggle to reach their targets.
Where To Buy Safemoon Crypto
There are 2.2 billion tokens in total, out of which 35% are dedicated to the presale. The remaining tokens are distributed to create a robust ecosystem that can stand the test of time when the market is volatile. As of now, Smog is yet to offer more information regarding the airdrop date. However, it is confirmed that 490 million tokens (35% of the 1.4 billion supply) will be offered as airdrop rewards.
Change the network to “Smart Chain”
However, as with many projects, this APY will go down as more tokens are staked. This makes it potentially prudent to get in at the ground level and stake to make the most of the staking program. Crypto presales offer investors an opportunity to get in on a promising new project before it is launched to the general public. One popular option is to use PancakeSwap, a decentralized exchange (DEX) built on the Binance Smart Chain. By connecting your wallet to PancakeSwap, you can easily trade BNB (Binance Coin) for Safemoon.
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The presale has already raised over $250K in a few days of its launch. For more information, go through the Dreamcars whitepaper and join the Telegram channel. Your $DCARS token can be staked on the smart contract for 7 days to 12 months. This innovative platform offers digital authenticity, as each Dreamcars NFT is linked to the car’s purchase contract.
The whitepaper provides insights into the crypto project’s foundation. It should clearly outline the project’s objectives, technology, strategic plan, and tokenomics. Crypto presale projects lacking a whitepaper or presenting only superficial information should be approached with caution.
SafeMoon is a cryptocurrency token that launched in early 2021, using blockchain technology developed by Binance. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. If you’re interested in Safemoon, the tricky part is learning how to buy it.
You can also convert directly to fiat currency used in your country of residence using pairs like BNB/RUB, BNB/EUR, BNB/AUD, and more. Using another exchange will also work for converting BNB to cash and transferring to your bank account in case Binance doesn’t work or is restricted in your country. Once your swap is completed, the status should go from “Pending” to “Succeeded” and your wallet will be credited with the correct amount of BNB coins.
SafeMoon does not have any other special use case besides being a store of value. It doesn’t facilitate any automated contracts or decentralized applications, like Ethereum. Here you will name your new token SafeMoon and paste the contract address. (If not done automatically, make it “9”decimals.) Then change the Network to Binance Smart Chain.
BeInCrypto prioritizes providing high-quality information, taking the time to research and create informative content for readers. While partners may reward the company with commissions for placements in articles, these commissions do not influence the unbiased, honest, and helpful content creation process. Any action taken by the reader based on this information is strictly at their own risk. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated. You should do your own research and never invest more than you can afford to lose. SafeMoon is particularly vulnerable to volatility as it is a memecoin, and these have historically been volatile.
The team is trying to develop the underlying technical aspects of the token, in the hopes that SafeMoon can overcome its status as a memecoin. To ensure that the wallet supports BSC, choose “Custom RFP” from the drop-down menu on the screen’s upper right-hand corner. Once the wallet is set up, you can send BNB tokens to your wallet and then go to PancakeSwap enable your tokens to run with BSC by enabling the bridge feature. This multi currency wallet supports thousands of cryptocurrencies and users report that it is very user friendly and the best hardware wallet for Safemoon.
Pancake Swap is an exchange that lets you trade many different cryptocurrencies, including Binance Coin and Safemoon. It launched on March 10 and rewarded early investors with returns of over 20,000%. After hitting an all-time high in April, it dropped by over 70%, but it still has the attention of crypto investors looking for the next big thing.
You’ll then have to withdraw the coins from the exchange, place them in a wallet and then transfer those coins onto an exchange with SafeMoon. Trust Wallet offers connectivity to various blockchain networks through its nodes. Essentially, it gives users access to crypto stored on various networks.
Once purchased, SFM will show in your balance on the Trust Wallet home page. Alternatively, you can also download SafeMoon’s own mobile app wallet and store your tokens there. What you need to remember is that you will be using Smart Chain (BNB) for all transactions on Trust Wallet.
We prioritize presales that are selling out rapidly, as this often shows strong market demand and confidence in the project. If the projects was founded by an anonymous team, look into other aspects, such as the smart contract audit, utility, and tokenomics, to ensure it’s legitimate. The best projects have experienced team members who are knowledgeable about the respective industry. For instance, play-to-earn game projects should be led by team members that are familiar with blockchain technology and GameFi. Digital assets have firmly established themselves in mainstream markets, leading to several new token launches each month.
While benefiting from its potential market gains, participating in the presale will also empower you to savor lucrative staking rewards. It is a promising new platform that lets you invest early in new and exciting projects within the Blast L2 ecosystem. Blast L2 reached a total value of $1 billion in just 35 days, which is faster than any other similar platform.
Now that you probably have all the needed accounts and apps for this process, below is a step-by-step guide on how to sell your Safemoon tokens on Trust Wallet. Many platforms will claim to let you buy SAFEMOON or Bitcoin using credit cards. However we would always recommend you do your own research thoroughly before attempting to buy tokens online. Many of these platforms are unreliable or even scams designed to steal your funds or credit card information. Safemoon tokens can also be traded on many of the Decentralized Exchanges (DEXs) on the Binance Smart Chain.
Crypto presales can be private or public events, depending on the project. While most crypto presales are accessible to the general public, some require interested investors to register in advance. This is done to raise funds for development, and to increase hype and interest around a newly launched project. Once the token is listed on an exchange, its price will likely go up.
Another portion of the transaction fee is used to fund a token burn program designed to grow the value of the crypto over time. Through burning, the token’s supply is reduced, which creates scarcity that can lift the value of the token as its demand increases. Tap on “Connect Wallet.” Tap on “Trust Wallet” and tap on “Trust.” You’ll be prompted to login to your Trust Wallet account. Finally, tap on “Connect” on the “PancakeSwap wants to connect to your wallet” window.
Many crypto exchanges have dealt with this by having all funds backed up or assured for safety. Hot wallets are much more convenient as your information is stored online and can be accessed easily at any moment. However being constantly online means they are more susceptible to hacks.
On top of that, David Portnoy — internet celebrity and founder of Barstool Sports — endorsed SafeMoon as his favorite meme token, causing the cryptocurrency to surge to new heights. Whether you missed the Dogecoin rally, or you simply want to diversify your cryptocurrency portfolio with a new trendy altcoin, we’ve got the scoop on how to buy SafeMoon. You will also have to switch the slippage fee to at least 12%, a buffer that facilitates the trade.
They often announce upcoming presales or retweet announcements from projects they’re interested in. You can also sometimes find AMAs from new projects, giving you a chance to learn first-hand more about a new presale. Another advantage is that investors can get in on the ground level of a unique idea before it becomes mainstream.
You can adjust this by tapping the settings icon on Pancake Swap. This phrase is extremely important, because it’s a readable form of the private keys to your crypto wallet. If you lose access to your wallet, you can still get your crypto back with the recovery phrase. However, if anyone else gets your recovery phrase, they could use it to steal all your crypto. Purchasing SafeMoon isn’t the most straightforward process, but with these easy-to-follow, step-by-step instructions, you’ll have your tokens in no time. For this guide, I’ll be using PancakeSwap as the primary exchange for SafeMoon.
David Rodeck specializes in making insurance, investing, and financial planning understandable for readers. He has written for publications like AARP and Forbes Advisor, as well as major corporations like Fidelity and Prudential. That added a layer of expertise to his work that other writers cannot match. In addition, SafeMoon’s recent SafeMoon 2.0 update lowered how to buy, sell & trade monero for beginners transaction fees, which could make it more appealing to exchanges in the future and for other use cases. If you hold SafeMoon tokens on an exchange, there’s no need to do anything, the exchanges will handle the migration process and notify you when the process is complete. This credit card is not just good – it’s so exceptional that our experts use it personally.
For users with any other type of crypto wallet, visit the SafeMoon Swap site to consolidate. The most distinctive feature of SafeMoon is that it charges a 10% fee whenever you sell the token. In other words, if you sold $1,000 of SafeMoon, you would pay a $100 fee on the sale. This is in addition to any fees you may owe a crypto exchange for facilitating the sale. We likely won’t be seeing the price and/or SafeMoon logo in Trust Wallet until everything settles out and more tokens have been swapped.
Before investing in Safemoon, or any cryptocurrency, one must have a good understanding of how the assets work and their background. Apart from that, it is also important to thoroughly research the crypto market and understand its dramatic fluctuations. Investing in crypto presales offers both opportunities and challenges.
It’s worth noting that Safemoon, like any other cryptocurrency, can be highly volatile. Therefore, it’s essential to do your own research and consider your risk tolerance before investing. For countries where cryptocurrencies are banned or restricted, you might not be able to transfer directly but the Binance P2P marketplace is a very good solution for this problem. You can sell your coins directly to buyers on Binance while being protected by the Binance escrow service.
If you have an account with Binance, you can purchase Binance Coin there instead. After that, you can use the Binance Smart Chain wallet to trade for Safemoon. Instead, you’re going to need another cryptocurrency that you can trade for Safemoon. Write down your recovery phrase, store it in a safe place, and never share it with anyone.
Moving averages indicating a bearish phase are contrasted by oscillators, which provide a variety of signals in the complex market scenario. Support and resistance levels are important reference points for traders as they navigate Safemoon’s price fluctuations. Nevertheless, it is important to be careful as the market conditions could shift quickly. To convert your BNB to a stable coin on Binance, launch the Binance app and search for BNB/USDT or BNB/BUSD trading pair in the Markets tab.
These platforms are often good routes to find vetted projects as they will usually conduct due diligence on the presale before featuring them. It can be a safer route of finding presales and members of launchpads can often receive perks like exclusive access or guaranteed allocations. Follow influential figures in the cryptocurrency space, such as project founders, developers, and crypto influencers, on X (formely Twitter).