Crypto Safemoon - How to Buy Coins Safely
Netgenz - Stock | Safemoon caught the attention of the crypto world earlier this year for having rewarded and rewarded some of its early investors with returns of over 20,000%. The safe moon is a cryptocurrency that was issued on March 10 with an overall supply of around one quadrillion SAFEMOON coins. After getting the highest price increase, Safemoon had fallen by more than 70% in April, but this cryptocurrency is still a very good thing to buy to make a profit.
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If you are interested in Safemoon and make it one of your investment portfolios, the most difficult part of having this crypto coin is how to buy it. As a new cryptocurrency, SAFEMOON is not currently on the top cryptocurrency exchanges. But if you already know where and how to buy, then the process can be called quite easy.
Before explaining how to buy the SAFEMOON crypto coin, you should first know if this crypto asset has a very high risk. Many say pump and dump and one of the things that makes it unique is the 10% fee that is paid to you every time you sell SAFEMOON coins. If you still choose to buy, you should still use money that is sincerely burned or cold money and not make a full investment in this crypto asset.Also Read: Crypto Safemoon - Know What Is Safemoon Cryptocurrency
4 Steps to Buy Safemoon Crypto Coin (SAFEMOON) on PancakeSwap Exchange
Pancake Swap is the best-decentralized transition on the Binance Smart Chain. Pancake Swap allows multiple users to trade without needing to go through Concentrated Transition mediators. All business transactions that you do on Pancake Swap will be sent directly to your digital wallet. The 4 ways that you can follow to buy Safemoon (SAFEMOON) on the Pancake Swap Exchange are as follows:
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1. Download Trust Wallet
The developers of Safemoon recommend that its users use the Trust Wallet to buy and store these crypto assets. Trust Wallet is a digital wallet program that you can download and install on your mobile device via the App Store or Google Playstore.
After installing Trust Wallet, open the application and select "Create a new wallet" (unless you have used it before and already have a digital wallet account). Trust Wallet will give you your reconditioned phrases. This reconditioning phrase is important because it is a form of individual keywords that can be read by your crypto wallet.
This recondition phrase is useful if you forget or lose access to your digital wallet, with the recondition phrase you can regain access to your crypto with the recondition phrase. However, if someone else gets your reconditioned phrase, they can use it to retrieve all your cryptocurrencies that are in your digital wallet. Write your reconditioned phrase, put it in a safe location, and don't share it with anyone.
2. Buy Binance Coin (BNB)
The safe moon cannot be obtained directly with cash but you need another crypto asset to later be exchanged for Safemoon crypto asset. You will need the Binance Coin (BNB) cryptocurrency as a crypto asset that you will exchange later.
Here are the steps to buy Binance Coins (BNB) using the Trust Wallet digital wallet:
- From the terrace menu, then tap "Smart Chain". If it's not there, use the icon in the upper right corner of the program to browse it. Then you go to the Binance Coins in Trust Wallet page.
- Tap "Buy".
- Enter the number of BNB coins you want to buy in US dollars and specify "Next" to be directed to the payment verification page.
- Enter your payment info and verify business transactions.
- You may need to confirm your identity to complete the purchase.
If you have a Binance account and program, you can immediately buy Binance Coins in that program. Then, you can use the Binance Smart Chain wallet to trade Safemoon.
3. Go To PancakeSwap Exchange
Pancake Swap is a transition that allows you to trade many different cryptocurrencies supported by this platform, including Binance Coin and Safemoon.
Select "DApps'' in the bottom menu under Trust Wallet. If you are using an iPhone device, this option is labeled "Browser." Scroll down until you find Pancake Swap and select it. This will take you to the Pancake Swap transition page, where you can replace one cryptocurrency with another.
This process is different if you use a digital wallet from Binance Smart Chain. You can connect Pancake Swap, by clicking "Trade", then click "Exchange" to reach the transition page. It should be reiterated if you have connected the digital wallet that you are using Pancake Swap by pressing the "Connect" button in the corner of the page.
4. Exchange Binance Coin (BNB) for Safemoon (SAFEMOON)
The last way is to replace the Binance Coin (BNB) crypto asset that you already have to exchange for the Safemoon (SAFEMOON) crypto asset in Pancake Swap, enter the number of Binance Coins you want to exchange. Specify "Max" if you want to replace all Binance Coins in your wallet with Safemoon.
Then "Select a currency" to select the cryptocurrency you want to accept. Enter "Safemoon" in the search bar and specify when the search exists. Pancake Swap will show you the predicted number of Safemoon you want to receive. Specify "Swap" to verify the crypto coin transition.
See if you may need to adjust the slippage tolerance so the trade can be processed. Slippage is when the price of a cryptocurrency moves between when you send a trade and when it is placed. If the slippage tolerance is not high enough, the trade may not be successful. Safemoon's developers recommend a slip tolerance of 12%. You can adjust this by tapping the settings icon in Pancake Swap.
The safe moon is a big gamble, so think about that when deciding how much you want to buy. There's nothing wrong with buying a little if you like the idea or just want the riskiest crypto in your portfolio. Make sure you only put in money you can afford to lose. If you want to make crypto a part of your portfolio, look for other cryptocurrency investment tactics with greater long-term strength.