How to Buy SafeMoon Crypto in December 2023
SafeMoon is an exciting crypto project with strong utility and excellent potential. If you are hoping to diversify your investments with SafeMoon (SMI) this year, this guide will reveal everything you need to know about how to buy SafeMoon.
To buy Safemoon in 2023, you will need to use a decentralized exchange such as UniSwap. Safemoon is not listed on any centralized crypto exchanges. In this guide, we will walk you through the processes of investing through a DEX including taking a look at the best Dexes to use.
How to buy SafeMoon step by step in 2023
Learning how to buy SafeMoon starts with finding out where to buy SafeMoon crypto in the first place. In the next section, we will show you five cryptocurrency exchanges and trading platforms where you can buy SafeMoon coins.
Step 1: Purchase BNB from eToro
SAFEMOON is built on the Binance Smart Chain (BSC) which means that you will need to hold BNB tokens in a crypto wallet to be able to invest in the token.
There are a number of crypto trading platforms that can be used to buy BNB however, eToro stands out as the best option for less-experienced traders. The platform is user-friendly, provides a good range of tools for research and analysis and is licensed.
To buy BNB from eToro:
- Navigate to the website homepage and create an account. You will be asked to enter some personal details and upload two forms of ID verification.
- Deposit funds into your eToro trading account using Bank Transfer or debit card. The minimum deposit is $20.
- Search for ‘BNB’ under ‘explore’.
- Click ‘trade’ and enter the amount of BNB you want to buy. Then, execute the transaction.
- Navigate to your portfolio and send the BNB tokens to your eToro Money crypto wallet. You will need to set the wallet up on your phone before you can complete this step.
Step 2: Transfer BNB tokens to a decentralized wallet
eToro Money Wallet is a centralized wallet that cannot be connected to DEXes. Therefore, you will need to send your BNB tokens from eToro to a third-party crypto wallet that is compatible with your chosen SAFEMOON exchange.
Download the eToro Wallet app to connect your trading account and enable you to start sending tokens.
Once you have done this, select BNB from your portfolio and click ‘send’. Here, choose ‘send to Money Wallet’.
When the tokens appear in your eToro wallet, you will be able to send them to an external wallet address. Make sure that you enter the address correctly before pressing ‘send’. Once you have sent tokens, the transaction cannot be reversed.
The tokens should appear in your wallet after a few minutes.
Step 3: Connect your crypto wallet to Uniswap
You will now need to connect your crypto wallet to your chosen DEX. For this guide, we will use Uniswap.
Select ‘connect wallet’ in the top left hand corner and then choose which wallet you would like to connect to the exchange. MetaMask is the most popular option that is available on both desktop and mobile.
You will be asked to login to your wallet account to confirm the connection.
Once the connection has been verified, you will be able to access the tokens in your wallet to purchase SAFEMOON.
STEP 4: Swap BNB for SAFEMOON
Swap BNB for Safemoon by selecting ‘BNB’ as a payment option and ‘SAFEMOON’ as an investment option.
Enter the amount of SAFEMOON you would like to purchase and then confirm the transaction. SAFEMOON tokens will then be sent to your DeFi wallet.
Before confirming the transaction, make sure that you have enough funds in your wallet to cover transaction fees.
What is SafeMoon?
SafeMoon is a relatively new cryptocurrency that was launched in March 2021. It is a decentralized finance (DeFi) token that operates on the Binance Smart Chain (BSC). SafeMoon aims to address some of the issues with other cryptocurrencies, such as high transaction fees and market volatility.
One of the unique features of SafeMoon is its redistribution mechanism, which charges a 10% fee on every transaction. Half of this fee is burned, which reduces the total supply of the token, and the other half is redistributed to existing holders. This redistribution mechanism is intended to incentivize users to hold onto their SafeMoon tokens, thus creating a deflationary effect on the supply and potentially increasing the token’s value over time.
While SafeMoon has gained a significant following and has seen significant growth in its user base, it is important to note that investing in cryptocurrencies is inherently risky and that caution should be exercised when considering any investment.
Your capital is at risk.
Why buy SafeMoon?
There are a number of reasons why some investors may choose to add SafeMoon to their portfolio. However, it is important to understand that investing in crypto is highly volatile. Here are a few reasons why SafeMoon may be an appealing investment.
Potential for high returns: Due to its unique redistribution mechanism, SafeMoon has the potential to see significant price increases if demand for the token increases and more people start buying and holding it.
Low initial investment cost: SafeMoon’s current price is relatively low, which means that individuals can buy a large quantity of tokens for a relatively small investment.
Interest in DeFi: SafeMoon is a decentralized finance (DeFi) token, which means that it operates on a decentralized network and provides users with financial services without the need for intermediaries. This may be appealing to those who are interested in the DeFi space.
Community support: SafeMoon has a large and active community of supporters, which may provide individuals with a sense of belonging and support.
How much does it cost to buy SafeMoon?
The current value of SafeMoon is $0.0000000038- this fluctuates daily. However, the exact cost of buying the asset is largely dependent on the platform and payment method that you use. Some platforms charge higher fees than others which can make buying SafeMoon more expensive.
As well as this, certain payment providers with charge fees for purchasing crypto. It is important to be ware of this before investing.
How to buy SafeMoon with Bitcoin
To buy SafeMoon with Bitcoin, you will need to use a crypto swapping platform. The majority of these platforms are decentralized and require a crypto wallet.
PancakeSwap is a good example. Here, you can connect your crypto wallet to the exchange and swap BTC for SafeMoon. The transactions are supported by blockchain technology and the SafeMoon tokens will appear in your crypto wallet once the transaction has been completed.
Buying SafeMoon safely
Buying any cryptocurrency carries inherent risks, and Safemoon is no exception. However, there are several steps you can take to increase your safety when buying Safemoon:
Research the project: Before investing in Safemoon, do your own research to understand the project’s goals, team, and roadmap. Look for information on the project’s official website, social media channels, and community forums.
Choose a reputable exchange: Use a reputable cryptocurrency exchange that is known for its security features and has a good track record. Some popular exchanges that support Safemoon include BitMart, Gate.io, and PancakeSwap.
Use two-factor authentication (2FA): Set up 2FA on your exchange account to add an extra layer of security. This could involve using an authentication app or receiving verification codes via SMS or email.
Secure your funds: Once you have purchased Safemoon, transfer your funds to a secure wallet that only you have access to. Hardware wallets like Ledger or Trezor are generally considered to be the safest option.
Beware of scams: Be cautious of scams, such as fake Safemoon giveaways, phishing emails, and impersonation attempts. Always double-check the legitimacy of any communication or offer before taking action.
Risks of buying SafeMoon
Buying Safemoon involves risks that are inherent to cryptocurrencies. The high volatility of Safemoon’s price can lead to substantial gains or losses. As cryptocurrencies are not regulated by governments or financial institutions, there is a risk of price manipulation, fraud, and other illegal activities.
Additionally, the success of Safemoon depends on its market adoption, and technical risks such as hacks or bugs could result in the loss of funds. Finally, Safemoon may not have enough liquidity on exchanges, making it difficult to buy or sell at a desired price. It’s crucial to understand these risks, do your own research, and only invest what you can afford to lose.
To sell Safemoon, you need to log in to a cryptocurrency exchange that supports Safemoon, navigate to the Safemoon trading page, select the option to sell, enter the amount you wish to sell, choose the currency you want to receive, confirm the transaction, and wait for it to be processed. It’s important to note that there may be fees associated with selling Safemoon, and it’s crucial to consider the market conditions and price of Safemoon at the time of selling to make an informed decision. Once the transaction is complete, withdraw the funds to your desired payment method, such as your bank account or PayPal.
SafeMoon price prediction
SafeMoon indeed peaked at a certain price this year due to its release of SafeMoon 2.0, but the current price range is around half of what it was a month ago. Therefore, to find out how to buy SafeMoon and where to buy SafeMoon, one should research the cryptocurrency’s price prediction and understand how to buy SafeMoon.
SafeMoon is expected to trade in a range of $0.0020 to $0.0025 until both significant pressure and significant price changes push it beyond these levels. Even though this year’s peak of $0.004599 occurred after just a few days, it may take another group of investors for the price to return to this level. At present, SafeMoon 2.0 is trading at the lower level of its historical price.
This SafeMoon price prediction and this entire Where to Buy SafeMoon guide are not financial advice but merely our opinion about the cryptocurrencies we are talking about.
It is possible to buy Safemoon crypto from a decentralized exchange such as Uniswap. To do this, you will need to hold BNB tokens in a DeFi wallet so that the tokens can be swapped for SAFEMOON.
In this guide, we have taken a look at the exact process of buying SAFEMOON from a DEX. We have also discussed what Safemoon is and the risks involved with investing in the project.
Safemoon is a new token that is not listed on centralized exchanges. As a result, you should take care when investing. Always conduct thorough research and read recent news before making any investment decisions.
What is SafeMoon?Safety Moon is a cryptocurrency token that has been launched under the Binance Smart Chain (BSC) standard and is marketed towards long-term investors.
Who created SafeMoon?John Karony, who was previously an analyst for the U.S. Department of Defense, is the CEO and founder of SafeMoon, released in March of 2021.
What is the market cap of SafeMoon?SafeMoon has a market cap of $2.16 million at writing this article.
Is a crypto wallet required to purchase SafeMoon?In order to purchase SafeMoon and other cryptocurrencies, you will need a crypto wallet, as you will be exchanging the crypto for the token.
How much money is required to purchase SafeMoon?If you already own some cryptocurrency, you can use that to purchase SafeMoon from them. If you don't already have any cryptocurrency, you can buy SafeMoon from your broker.