What is Safemoon Crypto, Safemoon Crypto Price, and How to Buy Safemoon Crypto
What is Safemoon Crypto?
SafeMoon Crypto is a decentralized finance (DeFi) token based on blockchain technology with distributed and built upon on the Binance Smart Chain blockchain in March 2021. According to the SafeMoon website, SafeMoon has three functions that occur during each trade: Reflection, LP Acquisition, and Burning.
Reflection: The white paper explains that SafeMoon holders are charged a transaction fee of around 5%, which is distributed among coin holders.
LP Acquisition: The white paper reveals that the second core component of the project charges a transaction fee of around 5%, which will be disbursed to various liquidity pools on PancakeSwap and other platforms.
Token burn: The project white paper shows that every transaction that occurs on the mainnet is subject to a 10% tax. 5% of tax goes to reflection rewards and 5% goes to liquidity pool. Those to the liquidity pool were converted to Binance Coin (BNB) to ensure the liquidity of the SafeMoon and Binance coin pairs. Burn feature, making it a deflationary digital currency.
The three functions show that Safemoon has unique features. The White Paper also said the total supply is 1,000,000,000,000,000, with 223,000,000,000,000 burned dev tokens and a fair launch supply of 777,000,000,000,000,.
Safemoon Crypto Price
Safemoon Crypto price can be seen accumulated on CoinMarketCap or other similar crypto exchanges, such as: PancakeSwap, PancakeSwap (V2), Bitrue, Hotbit, BitForex, Gate.io, MEXC, BitMart, Biswap, Bitbns, or Decoin. Safemoon price volatility can refer to the list of available exchanges.
We recommend the Safemoon to WBNB pair on PancakeSwap (V2), because the trading volume is high. However, you can try pairing Safemoon to USDT at BitMart or Decoin.
How to Buy Safemoon Crypto
There are 4 steps, how to buy Safemoon crypto:
Step 1: Create a Wallet
Download SafeMoon Wallet on PlayStore or AppStore and follow the steps to create your wallet. Always remember to keep the 12 word seed phrase private! and a secret to no one, except your family. Safemoon will never ask for that seed phrase, ever!
Step 2: Buy BNB
After you create a wallet, you can then purchase BNB seamlessly via the MoonPay widget in your SafeMoon wallet in a few simple steps:
(1). Click the "Buy" button at the top of the app, and (2). select Smart Chain (BNB). The purchase process takes a few minutes and is not instant. Be patient!
Step 3: Swap BNB for SafeMoon
Click the swap button at the bottom and check slippage should be at 12%. Select Smart Chain (BNB) in the top slot and SafeMoon in the bottom slot. Just click swap!
Step 4: HODL
Finally, HODL (hold on for dear life) and let your balance grow from reflection.
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