How To Buy Safemoon With Binance

Looking to purchase SafeMoon coin in Canada? I embrace how and where to purchase this DeFi token.

The cryptocurrency market is awash in various types of tokens, with hundreds being churned out daily. As of this writing, SafeMoon is one of 16,012 cryptos available for buy effectually the world.

The challenge with having so many tokens being created is that it has become increasingly difficult to differentiate between memecoins (aka
shitcoins) and cryptos with realistic futurity prospects.

SafeMoon is one of the memecoins that has increased in popularity in contempo times due to smart social media marketing.

Needless to say, it is a very high-risk token.

Read on to larn most how to purchase SafeMoon using Binance (and PancakeSwap) and BitMart.

Update: SafeMoon has launched version 2 of its token and the easiest place to purchase it appears to be the SafeMoon wallet app. The Binance and BitMart buying options listed below incorporate outdated information.

What is SafeMoon?

SafeMoon is a decentralized finance (DeFi) token launched in March 2021 on Binance Smart Chain. It was created by John Karony.

As per its website, the SafeMoon protocol “aims to solve the issues of prior cryptocurrencies including mining rewards, farming rewards, and liquidity provisioning”.

Similar other memecoins (Shiba Inu, Floki Inu, Baby Flok, Billionaire, DogeCash, and Akita Inu), SafeMoon has a very vibrant community that promotes it on social media.

Information technology has a maximum full supply of 1 quadrillion and a circulating supply of 585 trillion.

Note that SafeMoon has a ten% fee when you sell it. 5% is paid out to all holders (HODLs) and v% is added to the liquidity pool.

*SafeMoon V2 includes significant changes to the SafeMoon contract with a chiliad:i consolidation and updates to the supply, fees, and reflections.

**old** How To Buy SafeMoon in Canada

It is a scrap challenging to buy SafeMoon in Canada because no Canadian crypto commutation currently supports it.

That said, you tin purchase the token via the Pancake Bandy exchange if you lot have Binance Coin or through BitMart.

Where To Buy SafeMoon in Canada

Buy SafeMoon on Binance

Binance is the world’s largest cryptocurrency exchange. Its Trust Wallet App and PancakeSwap exchange can be used to purchase SafeMoon.

Below is how the process works:

1. Open a Binance Business relationship

Sign up for a Binance business relationship if you don’t take i already. This step is required to buy the Binance Coin (BNB) y’all need to swap for SafeMoon.

Binance money is the native currency of the Binance ecosystem.

When Binance users apply BNB to pay trade commissions, they get a 25% discount.

ii. Download Trust Wallet App

Trust Wallet is a cryptocurrency wallet owned by Binance. It can be used to purchase, keep, and commutation various crypto coins and DeFi tokens.

After installing the app, create a new wallet, and be certain to write down and go along your recovery phrase in a safe place.

To buy SafeMoon, you demand to use the Trust Wallet to connect to PancakeSwap.

Ship your BNB to Trust Wallet and swap to a BNB Smart Chain token. You lot tin can likewise purchase Binance Coin directly in the Trust Wallet.

3. Buy SafeMoon on PancakeSwap

Visit PancakeSwap from Trust Wallet (select under DApps). iPhone users may need to type this link (trust://browser_enable) in Safari to actuate and connect to PancakeSwap.

Commutation your Binance Coin (BNB) for SafeMoon. Limit your slippage to 12%. You tin can hold SafeMoon on the Trust Wallet.

Buy SafeMoon on BitMart

Canadians can purchase SafeMoon on BitMat using USDT. The process is quite straightforward and works every bit follows:

Sign up for a BitMart account.

Fund your account using a credit card, debit menu, bank transfer, or PayPal.

You can also send crypto to the appropriate BitMart account address. Since SafeMoon trades on BitMart as a USDT pair, information technology makes sense to fund with USDT.

Search for SafeMoon (SafeMoon/USDT) and place your trade.

Canadians tin besides purchase USDT using crypto exchanges similar:

  • NDAX
  • Newton
  • Binance

And and then transfer USDT from these exchanges to BitMart.

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Is SafeMoon a Good Investment?

SafeMoon is a high-risk token, and you lot should never invest money you tin can’t afford to lose.

Tokens like SafeMoon can be decumbent to “pump and dump” mode schemes, leaving unlucky investors property the pocketbook.

An investment in SafeMoon is pure speculation and you could make or lose money.

SafeMoon FAQs

Can I purchase SafeMoon in Canada?

Yes, you lot can buy SafeMoon using the SafeMoon wallet app.

How much is SafeMoon worth?

As of this update, ane SafeMoon is equivalent to $0.001638.

Tin I use Binance in Canada?

The Binance cryptocurrency trading platform is available in Canada (except Ontario).

Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend yous do your ain research and simply commit funds yous can afford to lose.

Related:

  • How To Buy Bitcoin in Canada
  • Best Crypto Wallets
  • All-time Cryptocurrency Exchange Platforms in Canada
  • Shakepay vs. Wealthsimple

Source: https://www.savvynewcanadians.com/buy-safemoon-canada/

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