Can You Trade Safemoon On Coinbase

If you go along up with crypto news, you may accept heard the proper noun Safemoon quite a lot in the showtime half of 2021. If you are interested in solar day trading, talk of Safemoon’s high volatility and apace increasing market cap may have piqued your involvement. Peradventure you lot’re looking to buy, concord and capitalize on the side by side large crypto price rally.

Though we get over how to buy Safemoon in detail below, the brusque version is that you need to create a wallet for the Binance Smart Chain through MetaMask or Trust Wallet, buy Binance tokens (BNB), then swap them for Safemoon on a decentralized exchange like Safemoon Swap or PancakeSwap.

What is Safemoon Crypto?

Safemoon is a member of the group of tokens known as memecoins. Memecoins are crypto tokens or coins based on internet memes. Specifically, Safemoon derives its name from a popular slang term in crypto discussion forums—’going to the moon’. This expression refers to the toll of a crypto asset rising very loftier over a very short menstruation.

The most fundamental thing you lot demand to understand almost Safemoon is that it is not a crypto money. It is a token that operates on the Binance Smart Concatenation (BSC). In crypto jargon, a money is a cryptocurrency that operates on its own blockchain. It is non the aforementioned as a token.

Agreement Blockchains

Bitcoin operates on its own blockchain, and so does Ether. The Binance Smart Chain is a separate blockchain that inherits many software features and protocols from the Ethereum network. One feature of the Ethereum network (and thus also the BSC) is the power to host software programs (chosen smart contracts).

Smart contracts can create and control a supply of digital tokens. they are written for a specific chain with compatible protocols. This is similar to how versions of smartphone apps are written for specific operating systems. Y’all cannot install an iOS app on an Android phone.

Safemoon is one such smart contract-based token. It does non have its own blockchain; its supply is managed by a smart contract on Binance’s in-house blockchain.

Offset launched in March of 2021, Safemoon began to surge in cost about a calendar month later, thanks to effective marketing by the founding team.

Safemoon Features

Safemoon has a few unique features that have attracted both praise and criticism. For example, the Safemoon smart contract charges a 10% exit fee for holders who choose to sell. One-half of this fee is ‘burned’, while the other is redistributed to remaining token holders, theoretically increasing the value of their holdings over time.

Another property of Safemoon which has attracted wide criticism is the ownership pattern of the electric current supply of the token. A large proportion of Safemoon’s total liquidity is owned by members of the founding team. Although these funds are in a so-called lock-upwards, such concentration of ownership is often a cause for serious business concern in the crypto space. In function, this concern is because of the influence that major holders—chosen whales—have over price movements when they sell.

Other criticism of the founding team has come on the dorsum of several promised developments of a Safemoon ‘ecosystem’ (including a bespoke wallet application) that take thus far fallen brusk of expectations.

Safemoon Moving Frontward

Despite this, Safemoon has a minor but fiercely loyal base of fans who continue to concur the token for the long term. This fanbase has kept the cost of Safemoon above null, despite a sudden drop from best highs in April and May of 2021.

Like many other meme-based altcoins, Safemoon is a very high-take chances investment. If you lot’re game, read on and notice out how to purchase Safemoon tokens of your own.

How to Buy Safemoon

So all of this leads us to the question: how practice y’all purchase Safemoon?

If you already have a wallet on the Binance Smart Chain, you can buy Safemoon by exchanging it for any other token in your wallet on a decentralized exchange (DEX) such equally Safemoon Swap or PancakeSwap.

If you don’t currently take a wallet, you can download the MetaMask or Trust Wallet browser extension to get started with buying Safemoon. These browser extensions requite you password-protected admission and control over all your tokens.

Hither are the simple steps for how to purchase Safemoon:

  1. Create a wallet.
    Create a wallet address for the Binance Smart Chain through MetaMask or Trust Wallet.
  2. Buy Binance tokens & swap for Safemoon.
    Buy Binance tokens (BNB), then bandy them for Safemoon on a decentralized exchange such every bit Safemoon Swap or PancakeSwap.

Where to Buy Safemoon Crypto?

Safemoon is a token on the Binance Smart Chain rather than a money on its own blockchain. This fact makes purchasing Safemoon very easy. You can swap other tokens for Safemoon on a decentralized exchange (DEX) similar PancakeSwap on the BSC.

Safemoon FAQ

Beneath are some oftentimes asked questions about how to purchase Safemoon crypto. Have a look if you lot determine to make the bound and purchase Safemoon.

Tin I purchase SafeMoon on Coinbase?

No. Equally of writing, Safemoon is non available to merchandise on Coinbase. However, you can purchase Safemoon on a few other exchanges, including BitLink.

How tin can I buy SafeMoon in the U.Southward.?

The procedure for buying Safemoon in the U.S. is broadly the same every bit anywhere else. The main affair is to get Binance tokens into a wallet. Then, you can use a Defi application (like PancakeSwap) to buy your Safemoon tokens.

Read More than

  • How to Make Money with Cryptocurrency
  • How to Withdraw from Binance
  • How to Transfer From Coinbase to Coinbase Pro
  • How to Transfer from Coinbase to Binance
  • How Does Cryptocurrency Proceeds Value?
  • How to Read Crypto Charts

Final Thoughts

Safemoon crypto is not a coin, only a token. It has seen major price rises movements over just a few months in 2021. The price surged by tens of thousands of percent in Apr and May, and then lost most of those gains by August. Such volatility is far from unusual in the crypto space.

If, despite the bad printing, you believe the all-time is yet to come for the Safemoon cryptocurrency token (remember cryptocurrencies are taxable), getting your easily on Safemoon tokens is very piece of cake.

To buy Safemoon, download a wallet such every bit MetaMask or Trust Wallet, and so either purchase Binance tokens and bandy them for Safemoon or purchase purchase Safemoon directly on a centralized exchange like


Need a Loan? Get One in 3 Simple Steps

If you are because applying for a personal loan, only follow these 3 uncomplicated steps.

Utilize

Apply online for the loan amount y’all need. Submit the required documentation and provide your best possible application. Stronger applications go better loan offers.

Accept

If your application meets the eligibility criteria, the lender will contact you with regard to your application. Provide any additional information if required. Soon you’ll have your loan offer. Some lenders send a promissory note with your loan offer. Sign and return that notation if you wish to accept the loan offer.

Repay

The loan so gets disbursed into your U.S. depository financial institution business relationship within a reasonable number of days (some lenders will exist as quick as two-3 business days). Now yous need to set your repayment method. You can cull an autopay method online to help you lot pay on time every month.

CTA

Virtually Stilt

Stilt provides loans to international students and working professionals in the U.South. (F-i, OPT, H-1B, O-one, L-1, TN visa holders) at rates lower than any other lender. Stilt is committed to helping immigrants build a ameliorate fiscal future.

We take a holistic underwriting arroyo to determine your interest rates and make sure you get the lowest rate possible.

Acquire what others are saying about us on Google, Yelp, and Facebook or visit united states of america at https://www.stilt.com. If you have any questions, transport usa an electronic mail at [electronic mail protected]

Source: https://www.stilt.com/blog/2021/10/how-to-buy-safemoon/

Check Also

Will Dogecoin Go Up In Value

Will Dogecoin Go Up In Value

On Dec. 6, 2013, Billy Markus and Jackson Palmer decided to combine their dearest of …