How To Buy SafeMoon Crypto 2021
SafeMoon is a relatively new altcoin, or crypto token, first launched in March 2021. Based on the SafeMoon Protocol, it’s a cryptocurrency described as a DeFi Token, created to be completely community-driven.
SafeMoon has big ambitions, with the founders wanting to take this altcoin to the moon! SafeMoon aims to launch projects supporting the unbanked in African markets, alongside charitable efforts in Africa, such as creating a SafeMoon Scholarship.
In this article, we look at what SafeMoon is and how you can buy it. SafeMoon includes incentives for buyers to hold the coins they purchase, attempting to encourage long-term investor interest. However, like any cryptocurrency and altcoin, you can also buy it for short-term gain, and swap it for other altcoins.
What is the SafeMoon Crypto?
SafeMoon is described as a “community driven, fair launched DeFi Token.”
Every time a token is bought, three core features take place whenever there is a trade: “Reflection, LP Acquisition, and Burn.” Which means that every purchase is contributing to the long-term growth of the SafeMoon; hence the incentives for holding onto SafeMoon tokens, rather than buying them for short-term gain.
Once SafeMoon was launched, the community-driven principles started on day one, with the development team burning their tokens. Every time a token is bought, liquidity is automatically generated, with that liquidity going into multiple pools used by exchanges.
SafeMoon crypto naturally encourages token holders to buy and hold onto them, rather than sell. Built-into these tokens are passive rewards through static reflection (RFI Static Rewards), which means the longer you hold the tokens, the more rewards you will earn.
Image source: SafeMoon
At the time of writing, there are over 2,450,000 token holders, and the overall market capitalization is $1,743,681,800. The current price of SafeMoon is $0.000003005. According to the SafeMoon website, overall liquidity is currently $59,965,428, with a total of 419,739,491,025,403 tokens burned.
SafeMoon did peak within the first month at $0.000014, increasing in price 20,000% between March 20 to April 20, 2021. This caused some excitement in the cryptocurrency community, getting serious crypto investors talking about it and buying SafeMoon tokens.
Why SafeMoon uses static rewards
Considering the long-term vision of the founders — to support the unbanked in African markets, create jobs, and establish charitable efforts in Africa — hype and boom and bust cycles are one of the things they’re keen to avoid. Hence the adoption and use of static rewards.
According to the SafeMoon Whitepaper: “Static rewards solve a host of problems. First, the reward amount is conditional upon the volume of the token being traded. This mechanism aims to alleviate some of the downward sell pressure put on the token caused by earlier adopters selling their tokens after farming crazy high APY’s.”
The Whitepaper goes on to say that “the reflect mechanism encourages holders to hang onto their tokens to garner higher kick-backs which are based upon a percentages carried out and dependent upon the total tokens held by the owner.”
Image source: SafeMoon
In Q1 2021, SafeMoon launched a marketing campaign and doubled the team. In this initialization phase, SafeMoon confirmed a DogeCoin trading pair with Bibipom. SafeMoon also began an integration process with WhiteBit, alongside the legal paperwork with Bitmart.
In Q2 2021, the goals — which appear to be ongoing and in-progress — include completing the Bitmart and WhiteBit integrations, and the SafeMoon App, Wallet, and Game(s). Other key developments in progress include new NFT Exchange integrations and development architecture. There are going to be video-game integrations, too. During this phase, the plan is to launch into markets in Africa, while also expanding the team 35% and opening a UK/Ireland office.
SafeMoon is keen to launch a charity and charity drive as part of the first push forward. The plan is also to create a crypto educational app, to support wider efforts to educate and inform more people about cryptocurrencies.
In Q3 2021, the aim is to launch the crypto educational app, NFT Exchange, and the first video game with SafeMoon integrated. At the same time, a community listing donation raise will take place across several exchanges (e.g. Coinbase, Binance, Kraken), according to the SafeMoon Roadmap.
Going forward from this busy and accelerated period of growth, and moving into 2022, the ultimate aim is to open an office in Africa, operate in more African markets, and establish a SafeMoon Scholarship.
Now, let’s take a look at where and how you can buy SafeMoon.
How to Buy SafeMoon Crypto? Instructions from SafeMoon
According to the SafeMoon website, you can buy the token on PancakeSwap. That seems to be the method they encourage. However, they also list other exchanges where you can buy and swap SafeMoon tokens, which we will outline shortly.
Instructions from SafeMoon for buying these tokens include the following:
- Create a wallet. SafeMoon recommends downloading Trust Wallet.You can use other wallets, including any that you already have.
- Add SafeMoon to the wallet. Whether in Trust Wallet or another wallet, you need to click the relevant feature that allows you to “Add Custom Token”.
- The next step is to buy “Binance Smart Chain” (BSC), either using another cryptocurrency or fiat currency. This also may require KYC verification, and can take up to a few hours for a transaction to process.
- Now you’ve got cleared BSC funds in your wallet, you need to open Pancakeswap through DApps or a web browser, if using an iPhone.
Go to the relevant Exchange function within your wallet, to exchange BSC for SafeMoon (SFM).
Click the exchange icon and set the slippage to 12%. It can take anything from 20 minutes to an hour for an exchange to take place.
Once this transaction is cleared, you will have SafeMoon tokens in your wallet!
Other markets where you can buy and swap SafeMoon tokens include the following: BitMart, WhiteBit, Gate.IO, Burency, ZBG, HotBit, MXC, and BitBNS. There are plans to add more centralized and decentralized exchanges — as the team continues down the development roadmap — to give people more choice where they can buy and swap SafeMoon.
How to Buy SafeMoon Crypto on ChangeNOW?
At the same time, thanks to the non-custodial and limitless nature of the ChangeNOW exchange, you can buy, sell, and swap SafeMoon (SFM) tokens on ChangeNOW. Take a look at how it works on our website.
Similar to the steps outlined above, you are going to need to have or download a wallet first.
Then link the wallet to ChangeNOW, or use a wallet already connected to ChangeNOW.
As per the above steps, buying SafeMoon (SFM) tokens starts with buying “Binance Smart Chain” (BSC), either using another cryptocurrency or fiat currency. You can do this quickly, easily, and cheaply on ChangeNOW.
Once you’ve done that, you can exchange however much BSC for SafeMoon (SFM) tokens. It can take anything from 20 minutes to an hour for an exchange to take place.
SafeMoon: Key Takeaways
- SafeMoon is a community-driven, fair-launch altcoin with a focus on establishing charitable campaigns, particularly in Africa, including a scholarship.
- It was launched in March 2021, and currently has 2,450,000 token holders, with an overall market cap of $1.7 billion, and liquidity currently around $59,965,428.
- SafeMoon encourages coin holders to buy and keep, rather than buy and swap for short-term gains, with static rewards which benefits those who hold onto them for the long-term.
- You can buy SafeMoon (SFM) a number of ways, including on ChangeNOW.
Are you looking to invest in cryptocurrency, or implement fast and safe crypto swaps?
On ChangeNOW, you can buy any cryptocurrency with a credit or debit card, and sell or swap currencies, and exchange whatever you’ve swapped back into fiat currency, if you want.
Disclaimer: ChangeNOW does not provide investment advice. Cryptocurrencies are currently unregulated, which means every time you invest, your capital is at risk. Past performance is not an indication of guaranteed future price increases.
However, we put every effort into ensuring every transaction and exchange is secure, internally and working with partners, such as Simplex. ChangeNOW seeks to maintain accountability to its customers, employees, and the broad crypto community. We do it through strict AML compliance, social change encouragement, regular service quality upgrades, and community involvement.