The crypto-trading mania could be seen reaching new heights in the year 2021. This year, we have seen how some devalued cryptocurrencies like Dogecoin have come to the frontline and made an ever-lasting impact on the trading world. However, many are still unaware of what is SafeMoon crypto and why it is making the headlines. Therefore, we will try to answer all these questions of the users so that they can make the best trading decisions.
Well, this cryptocurrency emerged in March 2021 and is one of the decentralized cryptos which is similar to other cryptocurrencies available in the marketplace and is led by John Karony. Now, the question is how this crypto works.
SafeMoon crypto working mechanism
The working mechanism of this crypto-currency is that one cannot use their coins for day trading as this promotes the stability of their coins and their price. Anyone holder who sells off their coins is charged 10% as the penalty fee from which 5% benefit is given to the rest of the holders. This ensures that not much of their coins are sold and investors can keep maximum benefits in their holdings.
In case this mechanism interests you and you want to know how to buy SafeMoon, then go ahead with reading the next section.
How to buy SafeMoon?
If you navigate to the official website of SafeMoon, then you can see that the platform uses the Pancakeswap method as their primary method to buy the SafeMoon crypto.
Step 1- The first step, just like you do for any other crypto, is to create a wallet on the platform you trust
Step 2- after that, you have to go ahead with the conversion of BNB to a smart chain. This can be done via the wallet you have chosen
Step 3- the next step is to add SafeMoon to your trusted wallet
Step 4- Now, navigate to the official platform of SafeMoon and then use “Pancakeswap” for the conversion of Binance Smart Chain to the SafeMoon crypto
As soon as the swapping process takes place, you will see that your wallet SafeMoon crypto in it.
Is it safe to invest in SafeMoon?
Now that you are well versed with the working mechanism as well as the purchase method of SafeMoon, it is now time to understand how safe it is to invest in this crypto. As discussed earlier, SafeMoon encourages the holding of their coins rather than selling them. So, even if this crypto is seeing a good increase in its price in the trading world, you may not be able to make the most out of them by selling them off. As we all know that, digital currencies are highly volatile and SafeMoon is not an exception. Although in the current scenario, we are seeing it as one of the highly growing cryptos, it is still prone to major downfall.
Should you invest in SafeMoon?
This is one of the biggest dilemmas which buyers come across whether they should invest in this crypto or not or it is worth buying or not.
According to the experts, trading in this crypto could prove to be one of the biggest opportunities for investors. Since its value is quite less, therefore it has great room for its value to get increased in the near future. Therefore, one should invest in SafeMoon because it could be worth your buy.
Since the whole scene looks like the growth of Dogecoin, you can expect the same to happen with SafeMoon. After going through this article thoroughly and doing a great analysis on it, you should be able to decide if SafeMoon crypto worth your interest or not.