If you are aware of the crypto market then you have surely heard the name Safemoon. It is a token that has become quite popular these days because of a lot of reasons. To be honest, in the first half of 2021 this token has made a lot of names. So, if you wish to know everything about this token and how you can purchase them, then you have come to the right place.
Even though the industry of crypto is still in its infancy, there are a lot of benefits that people have gotten. So, in this industry, Safemoon has made its name through sheer goodwill and amazing future prospects.
If you are wondering about Safemoon price and how you can buy them, then don’t worry, we will share everything with you.
Table of Contents
Safemoon Tokens: A Brief Idea
So, before you head straight into the process of buying these coins, let’s talk about this in general. Safemoon is a type of memecoin or crypto coin. Memecoins are usually based on internet memes, however, it’s not a ‘meme’. So, this coin gets its name from a famous slang term in the crypto discussion thread- ‘Going to the moon’. This actually refers to the price of this crypto coin which rises over a very short period of time.
One of the main things to understand about this coin is, it’s not a crypto coin. Rather, it is a token that can operate on BSC. In other words, it’s a token and not crypto.
The developers of this token launched it in the month of March 2021. Soon after it saw a rapid surge and therefore made a huge name in the market. In other words, this token coin had immense reception and people saw a lot of potential in it as well.
So, what makes this token so grand you may ask. Well, Safemoon has some unique features that make it stand out from the rest of the coins. Even though it has garnered some criticism as well, that doesn’t take away all the positives it offers. So, to tell more clearly, the smart contract charges of this token have a 10% exit fee for the holders who want to sell. Almost half of it is burned while the rest is redistributed to the remaining holders of the token.
The Performance Of This Token
So, if we wish to know about the history of this token currency then we can say that it fairs really well. Even though it’s still in its infancy stage it has received wide appreciation from a lot of people in the market. So, as we said earlier, the developers decided to launch this token in March at $0.000000001. Thereafter Safemoon price went to the moon and reached the figure of $.0.000013. In other words, it has risen a lot in a short period of time. Even though it has seen a bit of drop in recent times, the future looks bright for sure.
How To Buy This Token?
So, do you want to know how to buy Safemoon effectively without any hassle? Then you have come to the right place for sure. Well, it’s really easy to make a purchase of this token and it doesn’t require any huge effort. Since it’s not a crypto coin but a token, there’s something else you have to do in order to make that purchase. So, without any further ado, let’s get to the point as to how you can purchase these coins.
1. Trust Wallet
First of all, you should download a Trust wallet which is like a crypto wallet app. You can download it easily on your phone irrespective of OS. Once you have downloaded it, it’s time to create a new wallet, unless of course, you have used it before.
This wallet provides its users a recovery phrase and one should definitely write it down and store it in a safe place and never share it with anyone.
2. Binance Coin
So, you should probably know that you cannot buy Safemoon with cash. Instead, you need another cryptocurrency that can be traded for this token. For example, you can use Binance coin or BNB which is really good. You can even buy it from the trust wallet itself if you wish to. So, let’s check out how you can make the purchase and trade it with the token of our discussion.
- Firstly, go to trust wallet and then click on the smart chain. If it’s not there then go to the upper right corner to search it. This will lead you to BNB’s page within the trust wallet.
- Then, you need to tap in order to buy it.
- Enter the amount you wish to buy and then make the payment.
So, once you have bought BNB it’s time to use Binance smart chain wallet to trade for the token.
3. Pancake Swap
Pancake Swap is another cool exchange that lets users trade a lot of cryptocurrencies including Safemoon. So, all you have to do is to select Dapps and then trade one cryptocurrency for another. If you are using Binance smart chain then it’s, even more, easier to make the trade.
Moreover, on the pancake swap exchange, you can also enter the amount of Binance coin you wish to trade. If you want to trade all of it then choose ‘Max’. Thereafter it’s time to ‘select a currency’ and enter ‘Safemoon’ in the search bar. Pancake will show the estimated amount of the tokens you will receive. So, if you are ready it’s time to tap on ‘Swap’.
Ending Note
So, this is how you can effectively make a purchase of Safemoon tokens. It’s really simple and all you have to do is to follow the things we have mentioned above. This token has made a huge impact on the market so it makes sense to take that risk and go for the glory. Since a lot of people are doing it, you should definitely try it out.
You may also read: How to Use Cryptocurrency with Apple Pay?
