Let’s take a tour of the moon safely with the SafeMoon as anyone might be thinking about the term safemoon. But, it’s not about the tour, instead SafeMoon is a decentralized altcoin that has been recently added in the cryptocurrency market.
But the question arises why so many people are preferring to invest in Safemoon cryptocurrency?
Since its inception in March 2021, it is one of the most promising de-fi tokens that has a strong- driven community and is leading in the crypto market over a period of time
What is SafeMoon?
Using the Binance Smart Chain Blockchain. The decentralized digital token Safemoon conducts P2P transactions and has just lately entered the cryptocurrency market. Many people have become interested in it since they simply desired to win a “lottery ticket.”
A common yet unbelievable fact is that the Safemoon coin gave early investors a return on investment of more than 20,000 percent in just three months.
Investors who had invested $20 in Safemoon tokens at the initial cost of $0.000000001 gained $26,000 when the coin’s worth was $0.000013. As a result of its stability and volatility, investing in SafeMoon is considered safe and secure.
Also Read: What is Golem Wallet ?
How can you buy SafeMoon on Trust Wallet?
Investing or purchasing in Safemoon is not everyone’s cup of tea as it does not offer a simple purchase or investing method. However, if you follow the step-by-step instructions, buying digital coins would be simple for you.
Purchase Binance Coin
It must be noted that you won’t be able to invest in SFM with fiat currency. Thus, you must first buy and sell the Binance coin before exchanging it for Safemoon.
Convert BNB to Smart Chain Tokens with Trust Wallet
- Purchase your digital coins directly from the BNB platform and then head to Trust Wallet to place a Smart Chain order.
- Exchange all the Binance coins through Smart Chain. It can be done easily on Trust Wallet’s main screen.
- Your funds will automatically appear on the status bar of the screen once you have converted BNB to the Smart Chain.
- You can purchase Safemoon with the newly acquired BNB coins in your Trust Wallet.
Click on Pancake Swap’s Exchange Page
- To use Pancake Swap, SFM’s main exchange, you must link your TrustWallet with the DApp browser.
- The process is simpler for Android users than it is for iOS users, but iOS users must still manage it.
- You must enable the DApp Browser before you can properly access the Pancake Swap, therefore you can’t skip this step.
Convert Smart Chain to Safemmon Tokens
- Look for Safemoon in the Search Bar after integrating your trust wallet with Pancake Swap.
- You may buy SFM tokens here using Smart Chain BNB.
- After deciding how much BNB you’re willing to trade for SFM, click “Confirm Swap”, your transaction will be carried out as quickly as feasible.
To verify your funds, enable Safemoon on Trust Wallet
Following the successful conversion of Smart Chain into Safemoon, you can view the funds in your Trust Wallet by using:
- You may find the Safemoon Contract Address on the exchange website where you bought the funds. Copy it.
- Search for SFm on the Trust Wallet by clicking “Add Custom Token” (it is situated next to the blue icon)
- After pasting the Safemoon Contract Address, click “Done.”
Your Safmoon Funds will be visible in your Trust Wallet once this process has been completed successfully.
How does Safemoon Works?
It is a newly introduced cryptocurrency that is based entirely online and can be used for trading or as a medium of electronic exchange. Safemoon is based on the distributed ledger technology known as the blockchain, just like other well-known cryptocurrencies like Bitcoin and Ethereum.
SFM relies on the SmartChain blockchain which has a market capitalization rate of $ 5,898 as of August 7, 2022. Safemoon was introduced to promote more and more investment and demote selling but it has failed to do so after its first spike.
To overcome this, it has started charging a 10% fee from sellers – half of which goes to SFM existing holders while the other half goes into a liquidity pool that aids in maintaining the price stability.
Conclusion
Safemoon is a Defi crypto digital token that fully operates with the Binance smart chain network. This virtual currency cannot be compared to other cryptocurrencies. Just after its inception, its value decreased, but after a few months. Altcoin established itself in the cutthroat market and rose to prominence. We can’t buy SFM directly using fiat currency. However, to invest in Safemoon, we can use a Smart Chain Wallet to swap into Binance.
The mobile application used for SFM investments and coin storage is called Trust Wallet. We can’t declare which cryptocurrency is a good investment because the market capitalization rate fluctuates every day, making it unpredictable and risky.
