What Is SafeMoon, and Why Should You Hold It?

What Is SafeMoon, and Why Should You Hold It?

One of the ways to earn profit from crypto is getting rewards in the DeFi ecosystems.

How do you get rewards in the DeFi?

There is one solution: stake your tokens and start farming.

Yield farming is the most popular way to profit in the DeFi sector.

Keep reading to learn more.

Pejman Zwin Updated:

Content

DeFi without locking your tokens

Are there other innovative ways to earn a cut in DeFi without locking your tokens?

Is there a less risky way to earn crypto tokens?

Well, I say yes.

Why?

Because of the SafeMoon.

With SafeMoon, you can make a profit by holding it in your wallet.

Just like that. But there’s more.

What is SafeMoon?

What is SafeMoon?

SafeMoon is a cryptocurrency with very powerful tokenomics, letting holders make a significant profit by holding it.

The cryptocurrency started with the tag of Memecoin but started to release its roadmap with serious development plans later on.

Let’s unhide more on this chapter.

John Karony, the former analyst for the United States Department of Defense, is the CEO and founder of SafeMoon token.

SafeMoon abbreviation is SFM, and it aims to become a complete blockchain project in early 2022.

But now, you can only install the SafeMoon wallet app and bag some SafeMoon tokens for a profit.

Is it tempting?

Wait till the end of this article to decide whether you want to bag some SafeMoon.

SafeMoon is a combination of the words Safe and Moon, points out that it’s a safe token that will rise in value significantly as you have heard the term “to the moon” if you have been in crypto space for a while.

Well, SafeMoon held on to its name as it grew over 23,000% in value in the early days of launching, March 2021.

SafeMoon’s launch date was March 2021.

It created much buzz among crypto enthusiasts using the help of some celebrities like Lil’ Yachty and Nick Carter and a bunch of other social media characters.

The project wanted to show the world that they had innovated a new way to earn crypto without having to lock your tokens.

As a result, its value soared to $0.000014 but started climbing down after the ATH of $0.00338272 in April 2021.

SafeMoon is a community-driven token on the BSC network.

It utilizes BSC’s technology, Proof-of-Authority (POA).

SafeMoon released its wallet three months after its launch.

People can install the SafeMoon wallet via the Play Store or App Store and start holding tokens for their benefit.

Many more exciting features have been added, with version 2 released in December 2021.

The number of burned SafeMoon tokens is around Nine hundred ninety-nine trillion.

Now, the number of tokens in circulation is 575 billion. Currently, the number of SafeMoon holders is about 3 million.

What is the purpose of SafeMoon?

The primary purpose of the SafeMoon crypto is to take some of the volatility out of the crypto market.

It’s going to reward its long-term holders.

Investors are concerned about the fee structure of this cryptocurrency and its use in the real world.

How does SafeMoon work?

John Karony, CEO and founder of The SafeMoon project, has created its token on the Binance Smart Chain (BSC) blockchain.

This token was programmed based on the Proof-of-Authority (POI) algorithm.

The POB mechanism is centralized as the consensus selects some trustworthy validators to confirm transactions.

How to mine SafeMoon?

Mine the SafeMoon token

You can mine the SafeMoon token with your CPU and GPU with the following steps:

  • Create your wallet on Binance or Trust wallet.
  • Download the MFI version of Unmineable Miner Software and run the file as an Administrator in windows, then select CPU or GPU.
  • Select the SafeMoon token, enter your SafeMoon wallet address and click on the start button.
  • Go to the Settings, set your mining intensity at the top, save the changes you’ve made, and restart your device.

Now you can check the speed of your graphic card that shows the current hash rate.

If you want to check your balance, just go to Unmineable.

Further reading

Is SafeMoon Safe Enough?

Is SafeMoon Safe Enough?

It is essential to mention that the crypto auditing corporation named Certik has issued SafeMoon with some security weaknesses.

It revealed that the token authors control the tokenomics; thus, they can have control over transaction fees and more.

Keep learning because the best part is coming.

Crypto being a scam

The project’s centralization problems have raised some questions about the crypto being a scam.

But it has been a year since it launched, and scammers don’t tend to wait this long.

It might be a good reason to claim that it doesn’t try to take away your life savings.

The project also announced that they would update their protocol in version 2 (V2) for a better ecosystem.

The project aims to create its blockchain, crypto exchange, hardware wallet, and even step into the IoT (Internet of Things) sector and integrate IoT into its blockchain.

Unfortunately, the project has fallen behind this lately, and the expectations for SafeMoon don’t seem achievable on time.

SafeMoon has also managed to become an easy payment system.

It has a debit card integrated with some retail services, making it relatively easy to buy things online.

But the token has very high price fluctuations, and it’s practically impossible for it to be a payment solution.

Moreover, the crypto’s high volatility keeps it from being a definite solution for the economy since it has fallen from its All-Time high of almost 70%.

So we can consider it a meme coin that attempts to become a real thing.

What’s so special about SafeMoon?

SafeMoon’s core value revolves around its tokenomics and token ecosystem, building an innovative DeFi protocol.

SafeMoon holders are always encouraged to hold their tokens and not sell them.

That’s the thing that makes SafeMoon a different cryptocurrency.

SafeMoon takes a 10% fee for every transaction within the ecosystem and distributes it to other sectors for various purposes.

The uniqueness of SafeMoon is that it has created a built-in liquidity provider ecosystem, unlike other DeFi protocols.

Liquidity pools mostly create their liquidity by encouraging people to stake.

Still, SafeMoon has removed this barrier.

It collects a portion of transaction fees and sends them to the liquidity pools used by different exchanges.

Further reading

What is SafeMoon's market cap?

What is SafeMoon's market cap?

Currently SafeMoon’s market cap is $106,733,362.

SafeMoon had a total supply of 999 Trillion tokens, but with the release of V2, it changed its maximum supply to 1 Trillion.

With the aid of a 10% percent transaction fee on each trade, SafeMoon manages to grow its economy as a DeFi protocol.

10% of every transaction is distributed within the ecosystem as follows:

4% Reflections

SafeMoon has created a reflective reward system.

You can earn profit by holding SafeMoon tokens, and you don’t need to do anything else.

The more tokens you have, the better, the longer you HODL, and the more profit you get because daily transactions are a basis for reflection.

The more transactions happen within the ecosystem, the more profit holders grab.

So 4% of every transaction goes directly to the holders’ wallet.

3% Liquidity

It is where innovation happens.

Users don’t have to act as liquidity providers because 3% of every transaction goes to liquidity pools which exchanges use to be able to swap SafeMoon for other cryptocurrencies.

So there’s absolutely no need for LPS.

I like how SafeMoon makes everything automatic so that everything works smoothly.

3% of every transaction is the primary key to SafeMoon’s liquidity.

2% Token Burn

How does SafeMoon keep its token valuable?

And protect its maintenance through scarcity?

Well, I should tell you that 2% of all the transactions of SafeMoon undergo a burn mechanism.

So 2% of every transaction burns and thus creates a decreasing supply of SafeMoon.

So no need to be worried if the supply is a lot (1 Trillion) or your SafeMoon tokens will be invaluable after a while.

In addition to that, there will be manual token burning in the system that will occur by SafeMoon occasionally.

1% Growth Fund

SafeMoon puts aside 1% of every transaction for ecosystem development and growth funds.

So there’s a backup for the project.

As the number of users grows and more transactions occur in the ecosystem, the project collects more significant funds for its development.

It’s for the benefit of both the user and the project.

Further reading

What is SafeMoon v2?

What is SafeMoon v2?

SafeMoon version 2 is the next target for SafeMoon to hit higher adoption and market cap with the aid of new developments.

SafeMoon has promised its holders and fans to create its independent blockchain and complete the token swap from Ethereum and BNB blockchains to the SafeMoon blockchain and some security modifications.

Smart contract features for SafeMoon

Smart contract features for SafeMoon are highly probable due to the creation of the blockchain.

SafeMoon also announced that it would create hardware wallets for the SafeMoon token (SFM) alongside a crypto exchange for traders.

It hasn’t yet announced what kind of trade infrastructure SafeMoon is trying to build; centralized or decentralized.

Besides crypto-related things, SafeMoon’s ambition is to create an infrastructure for the internet of things (IoT), to function in the smart economy of the future as a cryptocurrency.

When is SafeMoon’s v2 release date?

SafeMoon’s v2 release date occurred in December 2021 and introduced an updated version of the SafeMoon cryptocurrency.

SafeMoon has successfully launched its second version with two significant updates, reducing SafeMoon’s supply at 1:1000.

In plain English, 100 trillion SafeMoon tokens have 1 trillion resources, as reported by Forbes.

One more thing about SafeMoon v2 is the very low transactions, and SafeMoon reduced its transaction fees significantly.

It will help SafeMoon gain many users and increase the price because of its reduced supply.

Where can I buy SafeMoon v2?

SFM is not available at high-volume exchanges, but you can buy it on PancakeSwap, Bitrue, KickEx, Hotbit, Gate.io, and BitForex.

Besides, you can also get SafeMoon by using its app, download the SafeMoon wallet via the Play Store or App Store, and start holding some SafeMoon tokens.

PancakeSwap

24H Volume: $2 million

Digifinex

Trading volume: $1 million

Gate.io

24H Volume: $620,000

BitForex

24H Volume: $750,000

Bitmart

Trading volume: $500,000

MEXC

24H Volume: $144,000

Any Ethereum wallet and BSC wallet is also an excellent option to hold SafeMoon tokens in addition to the SafeMoon wallet.

Some safe and sound crypto wallets for SafeMoon could be Metamask, Trust Wallet, Math wallet, and SafeMoon wallet.

Can I buy SafeMoon on the Coinbase exchange?

No. SafeMoon could not be traded on Coinbase while writing.

On the Coinmarketcap website, you can check all the markets that are listed SafeMoon.

How to buy SafeMoon with a credit card?

If you want to buy SafeMoon with your credit card or debit card, you should have an account in Trust wallet on your phone device.

Note that it’s not possible to buy SafeMoon with a credit card.

By using Trust wallet, you’ll be able to buy BNB with your credit card, and then you can swap your BNB for SafeMoon.

  • Install the Trust wallet app.
  • Create an account or import your current account.
  • Select BNB, tap “Buy,” and enter the number of dollars you want to pay to get BNB.
  • Enter your card information and checkmark all of the statements.
  • Verify your billing information and get a receipt for your transaction.
  • Enter the verification code that the Trust wallet app sent to your email.
  • Now, after buying BNB, you can return to the Trust wallet. But for buying SafeMoon, you’re going to need BNB Smart Chain. So go to the “DEX” section and exchange your BNB for Binance Smart Chain.
  • To buy SafeMoon, you must connect your wallet to the Pancakeswap exchange. So click on DApps and search for “Pancakeswap.”
  • Click the “Connect” button.
  • Search for “SafeMoon” and select it. Then you must agree to the Terms, and now you can easily convert your BNB to SafeMoon.
  • Remember to disconnect your wallet before you leave.

How can I sell SafeMoon on the Trust wallet?

If you want to cash out your SafeMoon tokens, you should exchange them for BNB.

In the following steps, I will tell you how you can sell your SafemMoon for USD.

  • Open your Trust wallet.
  • Open Pacncakeswap on the DApps icon and connect your wallet.
  • Swap your SafeMoon for BNB Smart Chain.
  • Convert BNB Binance Smart Chain to BNB Binance Chain
  • Now you can send your BNB to Binance and convert it to USD.

How can I sell SafeMoon on the Bitmart exchange?

If you have SafeMoon on Bitmart, you can only sell it for USDT there.

But it’s not possible to receive the USDT amount in your bank account directly.

So, you need a Binance or Coinbase account.

I’m going to tell you how you can cash out your SafeMoon in just four simple steps:

  1. Create your account on Binance, Binance US, or Coinbase.
  2. Sell your SafeMoon for USDT on the Bitmart exchange.
  3. Withdraw the USDT amount to your Coinabse or Binance wallet.
  4. Now it’s the time to sell your crypto for cash to your bank account.
Further reading

When is SafeMoon v2 going public?

When is SafeMoon v2 going public?

No major crypto exchanges with massive volumes, such as Binance, Coinbase, and Crypto.com, have listed SafeMoon yet.

Still, people trade it on lower-level exchanges with smaller trading volumes.

As you know, demand is the key to entering more prominent exchanges.

SafeMoon to go public

We can take Shiba Inu as a meme coin with very high demand, a large trading volume, and investors.

There’s no exact date for SafeMoon to go public, meaning that to be listed on major exchanges.

Still, with SafeMoon v2, rumors are that Binance has planned to list SFM in 2022.

It is just a rumor, and we can’t rely on this information.

Still, on the other hand, it is a very probable thing to happen as demand for SafeMoon grows.

How to buy SafeMoon v2 on Trust wallet?

SafeMoon v2 is a Binance Smart Chain token.

We can buy SFM using some dapps and decentralized exchanges supporting Binance Smart Chain (BSC).

Among all decentralized exchanges, Pancakeswap stands out as the best dex to buy/sell SafeMoon v2 or, better say, SFM based on trading volume and liquidity.

To buy SafeMoon on Pankaceswap:

  • You first need to have some BNB Smart chain tokens (Bep-20). You have to buy BNB from some exchange and send them to your Trust wallet in the Bep-20 network.
  • After sending enough BNB to your Trust wallet, you can now enter the Pankaceswap exchange via Trust wallet/Dapps.
  • You need to copy SafeMoon’s contract address from Coinmarketcap, paste it on the Pankaceswap tap, and then bring up BNB to do SFM/BNB pair. Remember not to search SafeMoon on Pancakeswap because you will find tons of SafeMoon tokens trying to fake the actual token, and they are scams. Only search for SafeMoon’s exact contract address on Coinmarketcap.
  • After extracting the SFM token, you can choose how much SafeMoon you want to buy according to your Bep-20 BNB balance. Then you select the slippage amount for the swap.
  • You only need to pay for the smart contract execution. A small amount of BNB token is required to execute the swap’s smart contract. Then you click swap, and you’ll be good to go. You can see your SafeMoon’s balance with the number of tokens you want.

 

How to buy SafeMoon v2 on the SafeMoon wallet?

You can buy SafeMoon V2 in just two simple steps.

First, you should buy BNB on the Binance exchange and transfer it to SafeMoon Wallet.

Then you will be able to swap your BNB from SafeMoon V2 on SafeMoon Wallet.

How much is SafeMoon v2?

SafeMoon is being traded at around $0.00059 with a daily volume of $2,000,000, according to Coinmarketcap.

59% of the total supply is in circulation, with a circulating market cap of $332,716,000.

The price rose 15% in the last 24 hours, but the volume has been 8% down.

SafeMoon holds an all-time high of $0.003145.

You can have access to SafeMoon’s live chart on the livecoinwatch website.

Where to trade SafeMoon v2?

The top two exchanges for SafeMoon with the most significant volumes are Pancakeswap and DigiFinex exchanges.

But as long as you can’t do options trading and future in Pancakswap because it is a decentralized exchange with limited tools and doesn’t have trading tools like centralized exchanges.

The best option to trade SafeMoon or do daily scalping is DigiFinex due to its greater trading volume of SafeMoon than other exchanges offering it.

SafeMoon, with a trading volume of $1 million on DigiFinex, could bring you the smoothest and safest trading experience on SFM/USDT.

Remember that you should have enough experience to trade futures using leverages and highly consider risk management as well.

How can I swap V1 for V2?

The best and safest places for swapping SafeMoon V1 to V2 are the SafeMoon Official Website and the apps.

You can easily download android or iOs versions of SafeMoon by searching “SafeMoon” on mobile app markets.

Further reading

What will SafeMoon v2 be worth? (Price prediction)

What will SafeMoon v2 be worth? (Price prediction)

The mind-blowing fact is that SafeMoon v2 hit %20,000 after being listed on Gate.io and then started its forever bearish structure or, better say, a downtrend.

As you can see, SafeMoon is now tradable at approximately $0.0006.

You can see the price change and volume change of Safemoon token in the past 24 hours in the following chart:

https://www.tradingview.com/chart/uIidmZfn/

SafeMoon's price

According to the chart, SafeMoon’s price made a breakthrough out of the resistance zone between $0.00051 and $0.00054; In plain English, the demand volume is rising, which is good news for its investors.

The next resistance zone is between $0.00069 and $0.00078.

If SafeMoon manages to climb up to $0.00069, you should keep your eyes on the chart for any suspicious activity.

There are also two dynamic resistance lines on the chart.

As you can see, the price fell below the lower resistance line in the past few days, but it recovered itself.

Suppose the price breaks the higher resistance line in the upcoming days and stabilizes itself above that.

In that case, a bullish trend is sure to be expected.

Will SafeMoon v2 reach $1?

SafeMoon is considered a meme coin that tries to bring utility to its token.

But to be honest, it doesn’t seem possible for SafeMoon to reach $1 because, to achieve that, it needs to get the market value of 1 trillion dollars, which appears Unattainable in my opinion.

Shiba Inu created an enormous army with many celebrities tweeting about it and supporting it.

However, it still couldn’t reach $1 per token.

SafeMoon will not hit $1 unless a miracle happens.

It is better to keep our feet on the ground and hope for closer targets.

What is the future of SafeMoon v2? (Forecast)

Our price prediction for SafeMoon cryptocurrency looks more bullish for long-term outlooks.

SafeMoon is a meme coin struggling to find its place among tens of thousands of other cryptocurrencies out there in the market.

Big exchanges didn’t list it yet, but it has found its way to smaller ones like Hotbit and Gate.io.

The team is trying to convince other exchanges to list it due to its popularity and good development plans.

SafeMoon released a wallet and a debit card in 2021 and is now trying to create its blockchain and move from Binance Smart Chain (BSC).

Furthermore, SafeMoon aims to develop many other features, tools, and blockchains, such as Crypto exchange, NFT marketplace, hardware wallet, etc.

To create an ecosystem with the launch of V2.

Suppose SafeMoon delivers its projects as expected and manages to get listed on more prominent exchanges.

In that case, it has the chance to safely reach the moon and create much wealth for its holders besides its Hold-farming feature.

Considering the price action of SafeMoon, it is at the edge of a very crucial support zone, and it doesn’t seem to break unless the whole crypto market undergoes a hard bearish spike.

Suppose the crypto market, especially bitcoin, forms a strong uptrend and goes long.

In that case, we expect SafeMoon to see higher values and hit new all-time highs.

According to SafeMoon’s reflection, it is also good to HODL some SFM.

It will bring you passive income as 2% of every transaction fee is distributed between SafeMoon holders.

It can be one of the reasons to hold SafeMoon in your wallet.

We believe that this cryptocurrency has the potential to reach 1$ by the end of 2023.

Plus, SafeMoon is a DeFi token, and DeFi has achieved only 10% growth so far.

There is still great potential for profitability among the various types of cryptocurrencies.

Plus, according to its core value, reflection, and LP acquisition, it is still considered one of the best DeFi projects in the crypto market.

It has the potential to reach the moon.

Should I buy SafeMoon v2?

SafeMoon’s low price has made it an attractive option for investing.

Although SafeMoon is an ambitious meme coin with higher targets and developments, it is still not a reliable cryptocurrency because of its low market cap.

Highly trusted and famous exchanges like Binance and Coinbase didn’t list it yet.

SafeMoon has also been late to what it was supposed to do.

They haven’t yet created their native blockchain, and further development is still vague.

The economic decision is to invest a small portion of your capital in SafeMoon and name it a dream edition.

Why? Because it may make you rich or burn your money; who knows?

As I said, the better decision is to consider risk management while investing.

Thanks for reading!

Stay tuned for more crypto content and price prediction.

Further reading
Frequently Asked Questions about SafeMoon (FAQ)

Frequently Asked Questions about SafeMoon (FAQ)

How much is SafeMoon?

You can have access to SafeMoon’s live price on CoinGecko.

What is the easiest way to buy SafeMoon?

Using a Trust wallet is the easiest way to buy SafeMoon. You should have BNB Smart Chain in your wallet, and then you’ll be able to swap it for SafeMoon via Pancakswap exchange.

How can I convert SafeMoon to USD?

You should exchange your SafeMoon for BNB on Trust wallet and then withdraw your BNB to Binance and sell it for USD.  Then you can receive the USD amount in your bank account.

Is it possible to buy SafeMoon with a credit card? 

If you want to use your credit card, you should buy BNB in Trust wallet and then swap it for SafeMoon via Pancakeswap exchange.

Is SafeMoon a good investment? 

If you are looking for a medium-risk investment, the answer is yes. It is a DeFi token backed by a strong community, and it has been created on the BSC blockchain, making it a powerful crypto project. The roadmap of this coin is also promising. Some technical analyses expect the price to hit $0.0010 by the end of the year, but you should do your research and invest in whatever suits you best.

What is SafeMoon’s All-Time High (ATH)?

SafeMoon, also called SFM, reached $0.003145 in February 2021.

Who created the SafeMoon token?

John Karoly, the former analyst for the United States Department of Defense, is the CEO and founder of SafeMoon.

What makes SafeMoon different crypto?

SafeMoon takes a 10% fee for every transaction within the ecosystem and distributes it to different sectors for various purposes. SafeMoon holders are always encouraged to hold their tokens and not sell them, making SafeMoon an utterly different token.

How can I cash out SafeMoon on Bitmart?

You should sell your SafeMoon for USDT on Bimart and withdraw the USDT amount to a Coinbase or Binance account. Now you can sell your crypto for cash.

How Can I migrate SafeMoon V1 to V2?

You can convert V1 to V2 on SafeMoon apps and the official website.

Further reading