Crypto Safemoon - Know What Is Safemoon Cryptocurrency

Crypto Safemoon - Know What Is Safemoon Cryptocurrency

Illustration Safemoon

Illustration Safemoon

Netgenz - Stock | A meme coin is a coin created for a specific purpose of fun and can also be the identity of a community. Many crypto practitioners used to underestimate the ability of coin memes. The vision was different when the Dogecoin (DOGE) incident occurred, which is a coin meme with a dog icon that is typical of Japan, namely the Shiba Inu. The coin exploded and the price touched USD 1 per DOGE coin due to the contribution of Elon Musk and SpaceX.

Coin memes are a new star among some crypto practitioners today, but it must be understood that not all meme coins can be of good value and can follow Dogecoin's footprint. SafeMoon (SAFEMOON) might be what you think if you want to buy meme coins.

To add your recommendation regarding the SAFEMOON coin, in this article, the Indonesian Money Slave has summarized an article with the title "Recognizing What Safemoon (SAFEMOON) Cryptocurrency is". Happy reading!. also, read Crypto Safemoon - How to Buy Coins Safely.

Also Read: Crypto Safemoon - How to Buy Coins Safely

What is Safemoon (SAFEMOON) Cryptocurrency?



SafeMoon Protocol is a commune-based Decentralized Finance (Defi) token with the concept of justice. According to the official website, SafeMoon has three simple roles for every trading business transaction: Reflection, LP Acquisition, and Burn.

SafeMoon Protocol is a combination of RFI tokenomics and Auto-Liquidity Generating procedures. SafeMoon plans to scale up the decentralized Non-Fungible Token (NFT) transition, several charity projects, and programs for crypto teaching.

SafeMoon belongs to the type of altcoin, which is a blockchain-based digital currency that is generally similar to Bitcoin, but with some distinct differences and roles. SafeMoon was first released in March 2021 and has successfully accumulated more than 1 million users.

SafeMoon has a unique feature where they charge a 10% fee to those who sell their tokens, of which 5% of the fee is reallocated to all other SAFEMOON coin holders. It aims to reward those who don't sell their coins and of course by shrinking the marketing of the SAFEMOON coin keeping the price of the coin still constant.

SafeMoon as a community coin was created as a critique of Bitcoin which has deviated from the initial direction the coin was created, where Bitcoin was supposed to be a centralized currency but has now turned into a traded commodity. Until the price of Bitcoin is really 'wild' and only controlled by 'Whale'. SafeMoon charges minimal fees that drive some owners to not only buy the coin for remarketing in an instant but to hold it in place over time.

SafeMoon can be seen as a more serious look at Dogecoin which has the jargon "Go To The Moon" and that jargon SafeMoon replies with "Safely to the Moon."

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How to buy SafeMoon

If you are ready to take the risk, then you can buy SafeMoon from one of the four crypto transitions: PancakeSwap, BitMart, WhiteBit, and Bakery Swap. This is a more complex process than simply buying a currency like Bitcoin: in essence, you need to buy BinanceCoin, another cryptocurrency, and then replace it with SafeMoon.

To use PancakeSwap, for example, you must first take the Trust Wallet program, then buy Binance Coins (either BNB or BSC) and add them to your wallet. You then visit PancakeSwap through the Trust Wallet program, get the SafeMoon page and replace your Binance Coins there with SAFEMOON coins.

A special SafeMoon wallet, for now, is still in the development stage. Because there is a special digital wallet for the SAFEMOON coin, it is hoped that the process of buying and storing coins can be simplified. Keep in mind that using cryptocurrencies as an investment carries a high level of risk, even at the best of times. Crypto assets are more volatile than the traditional stock and mutual fund markets and it can be said that currently, no one regulates crypto asset trading. Keep using cold money in investing or the money you are preparing to burn.

Read: Shiba Inu - Explanation and How it Works

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