SafeMoon Coin price, marketcap discussed. How to buy this new cryptocurrency
SafeMoon the new CryptoCurrency is gathering interest amongst enthusiasts, search trends show.
Little is known about the cryptocurrency so far, though developers have held live Ask Me Anything (AMA) meetings to answer some questions.
The recently launched SafeMoon claims it will reward people who buy and hold on to the cryptocurrency and issue a penalty to those who sell it on.
To buy SafeMoon, cryptocurrency users have to buy a Binance Coin (BNB) first, and then essentially swap it for SafeMoon.
Going “to the moon” is a term popularized recently by the Reddit group WallStreetBets, who use it to describe an asset’s price skyrocketing.
SafeMoon rewards participants by levying a ten per cent penalty tax on sellers and redistributing five per cent of the proceeds to those who already own the currency.
A whitepaper report that outlines the features of a product such as a cryptocurrency—was reported to be accessible on the website by one Reddit user, but others said they couldn’t find it.
How to Buy SafeMoon
1. Buy Binance coin ($BNB)
2. Make a Trust Wallet account and transfer your BNB into it.
3. Swap your coins to BNB smart chain in the Trust Wallet app.
4. Go to the DApps tab at the bottom, open up pancake swap, connect your Trust wallet, and swap your Binance coins for SafeMoon.
5. It is not officially on the PancakeSwap list, so enter the token (0x8076C74C5e3F5852037F31Ff0093Eeb8c8ADd8D3) or go directly here.
6. Occasionally PancakeSwap will drop an error when swapping to SafeMoon, click the settings icon and set your slipping rate to 11% (or slightly higher if it doesn’t work).
Some cryptocurrency enthusiasts are excited about the coin, whilst some are sceptical.
One Reddit user said: “I completely agree that once they get listed on an exchange this could easily blow up.”