Note:
This is non financial communication. This how-to article is for educational purposes only. Please note that
cryptocurrency
is a highly volatile nugget course; only invest what you can afford to lose.
“How to purchase SafeMoon” is a question many risk-tolerant investors are asking, particularly since some merits the new lunar-inspired token could be the next
Dogecoin.
Safely aiming for the moon, SafeMoon supporters believe information technology could follow the same upward trajectory as Dogecoin.
On pinnacle 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 y'all 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 purchase SafeMoon.
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What is SafeMoon?
Before you hop on a nearby spaceship to a SafeMoon-supported crypto substitution, permit's whip out our metaphorical telescopes and zoom in on what SafeMoon is all about.
(Prototype credit: Hereafter/Snappa)
SafeMoon, which operates on the Binance Smart Concatenation blockchain, launched on March 8, 2021, simply it took off like a rocket on Twitter and TikTok in mid-April, sparking interest amongst many crypto investors. On Apr 20,
Binance
even had to temporarily suspend withdrawals from its platform due to the sudden influx of SafeMoon investors.
#BNB withdrawals are temporarily suspended due to a big volume increase causing a withdrawal excess. Rest assured our team is working on it.We apologize for whatever inconvenience caused and thanks for your patience.April 20, 2021
Before y'all buy the trending token, you must know that SafeMoon penalizes sellers with a x% fee, and redistributes half to other token holders to incentivize buying and holding. SafeMoon was created to address several problems plaguing cryptocurrencies today, including price volatility and crypto investors’ bad addiction of premature selling; hence the 10% selling fee.
Crypto blogger Lou Bagel
says the upside of SafeMoon is that yous’ll keep making money as new people buy in, only the downside is that if no 1 buys SafeMoon, investors will receive 5% of goose egg and the low demand will crusade the price to plummet.
According to
CoinMarketCap, SafeMoon was trading at around $0.000002 on Apr xviii. Two days after,
SafeMoon
skyrocketed to an all-time high of $0.00014 — an increase of nearly 7,000%. If you invested $one,600 into SafeMoon on March 22, you’d have a whopping $60,000 a calendar month later on.
How to buy SafeMoon on Trust Wallet
Purchasing SafeMoon isn’t the most straightforward process, merely with these like shooting fish in a barrel-to-follow, step-past-step instructions, yous’ll have your tokens in no fourth dimension. For this guide, I’ll be using PancakeSwap as the primary commutation for SafeMoon.
Convert BNB to Smart Chain via Trust Wallet
one.
Download the Trust: Crypto & Bitcoin Wallet app from the app store (on iOS and Android).
2.
Open the app and tap “Create a new wallet.”
(Image credit: Vi Days LLC)
3.
Review the Privacy Policy and Terms of Service. Tick the box next to “I’ve read and accept the Terms of Service and Privacy Policy.”
4.
You lot’ll be given a dozen recovery words. Write them down sequentially in a notebook for safekeeping.
v.
Next, the app will show yous your 12 recovery words non-sequentially. Tap the words in the correct order and you’ll land on TrustWallet’s primary page.
half-dozen.
Navigate to “BNB” and tap “Buy BNB.” Input how much money yous’d like to invest in USD and hit “Next.”
vii.
You’ll exist prompted to purchase BNB with a credit or debit bill of fare. Expect until the purchase is processed.
8.
Caput dorsum to TrustWallet’s principal page and you should see y'all now have some BNB. Tap on “BNB,” hit “More” and tap on “Swap to Smart Chain.”
(Image credit: 6 Days LLC)
nine.
Head back to TrustWallet’due south primary page and you should see that your Smart Concatenation order is fulfilled.
Using PancakeSwap to catechumen Smart Chain to SafeMoon
For the side by side ready of instructions, if yous have an Android device, you tin can skip the first footstep. But if you have iOS, you’ll demand to follow the first pace to admission PancakeSwap (a decentralized market place that lets you buy SafeMoon).
(Image credit: Future)
one.
(Simply for iPhone users) Open Safari and visit PancakeSwap. 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.
Skip to step iv.
(Image credit: Hereafter)
2. In the TrustWallet app, tap on “dApps” on the bottom taskbar. Next, tap on
“PancakeSwap.”
(Image credit: Half-dozen Days LLC)
3.
Tap the “Connect” button on the elevation-right corner and hit “TrustWallet.” You should see that your Smart Concatenation tokens are now in PancakeSwap.
4.
Tap “Select a currency” and type in SafeMoon'south contract address into the search bar. As of this writing, Safemoon's contract address is h0x42981d0bfbAf196529376EE702F2a9Eb9092fcB5 (You can double cheque this on CoinMarketCap under "Contracts").
v.
A detect will popular up to inform you that SafeMoon taxes a 10% fee on each transaction. (It will also ask yous to take “slippage” into business relationship, which is when the executed price is different from the initial quote; you lot’re required to allow a 12% buffer.)
(Image credit: Six Days LLC)
6.
Tap on the icon next to the time symbol on the top-right corner, and as requested by PancakeSwap, set your slippage tolerance to 12%. Click “X” to relieve and leave the window
7.
Tap “Swap” and “Ostend Swap.” This will prompt a “Transaction submitted” message to pop upwardly.
8.
Click on “View on BscScan.” The status bar should say “Success,” proving you successfully converted Smart Chain into SafeMoon. Exit PancakeSwap.
How to come across SafeMoon in your TrustWallet
At this point, you're probably wondering, "Okay swell, I bought some SafeMoon, but where are they?" Don't worry! Follow these steps to enable SafeMoon in TrustWallet and confirm that y'all take them in your possession.
1.
Re-create SafeMoon'southward Contract Address here: 0x42981d0bfbAf196529376EE702F2a9Eb9092fcB5
ii.
Navigate back to TrustWallet’due south main page. Click the blueish icon on the top-correct corner and scroll to the bottom.
3.
In the search bar, type in "Safe."
4.
Tap on “Add Custom Token.” Alter the network from Ethereum to Smart Concatenation. Under “Contract Accost,” paste SafeMoon'south Contract Accost. Tap "Save."
5.
Voila! You should see your SafeMoon tokens in the TrustWallet app.
Keep in mind that SafeMoon is yet in its infancy, so while some are optimistic that information technology’south the next Dogecoin, others are skeptical — information technology’due south just too early to tell whether SafeMoon is headed for greatness or ruin. As with whatever investment, you should assess your risk tolerance and act accordingly.
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