A Beginner’s Guide to Buying and Trading SafeMoon Cryptocurrency in the USA
Launched in March 2021, a cryptocurrency called SafeMoon has quickly become one of the hottest trading crypto assets in the crypto market. Its value increased 20,000% in a month, and in April, SafeMoon reached an all-time high, rising to almost $0.000012 per coin. But, the price of SafeMoon started to fall after a short time, and now it’s fluctuating at around $0.000004.
In general, SafeMoon is a cryptocurrency project that tries to solve the issue of crypto volatility, which is one of the most significant problems when it comes to digital currencies. But how does the project treat this problem, and should you buy SafeMoon right now? This guide will give you answers to these questions and explain how to buy SafeMoon in the US if you want to do so.
What's in This Guide?
- QUICK GUIDE: HOW TO BUY SAFEMOON IN THE USA
- Where To Buy SafeMoon In The USA
- What Is SafeMoon?
- How SafeMoon Works And What Affects Its Price?
- Is SafeMoon A Buy Right Now?
- How To Buy SafeMoon In The US - A Step by Step Guide
- How To Sell SafeMoon
- How To Trade SafeMoon In The US - A Step by Step Guide
- Things To Consider When Buying SafeMoon in the USA
- SafeMoon Advantages and Disadvantages
- What Is SafeMoon Price Prediction?
- How Do I Mine SafeMoon in the US?
- What is the Total Supply of SafeMoon?
- Things to Consider Before You Invest in SafeMoon in the US
QUICK GUIDE: HOW TO BUY SAFEMOON IN THE USA
- Open an account with a cryptocurrency exchange.
- Verify your account.
- Go to the deposit section
- Go to the platform and select SafeMoon.
- Enter how many SafeMoon coins you want to buy.
- Check the details and confirm your purchase.
Where To Buy SafeMoon In The USA
Are you searching for how to buy SafeMoon in the USA? Well, there are hundreds of crypto exchanges and brokers in the USA. This can make it hard to know which platform is right for you.
List of the best Exchanges to buy SafeMoon in the USA:
Looking where to buy SafeMoon in the USA right now? Below you will find 4 of the best brokers that allow you to buy SafeMoon in the USA.
- eToro - Best broker to buy SafeMoon in the USA
- Binance - Best exchange to buy Internet SafeMoon USA for asset diversity
- Coinbase - Best exchange to buy Internet SafeMoon for beginners
- OKEx - Best broker to buy SafeMoon USA for low-cost
What Is SafeMoon?
SafeMoon is a BEP-20 token-based cryptocurrency project created in March this year that has seen significant growth since April. According to its founders, SafeMoon emerged to solve one of the fundamental problems in the Defi world - the volatility of cryptocurrencies. There are several features that SafeMoon uses to attract new investors, including a unique pricing system. All in all, its main aim is to encourage holding the crypto and discourage selling it.
To achieve this, SafeMoon owners have designed the project so that every time you sell your SafeMoon, you have to pay 10% of your coins as a fee (excluding the other trading fees charged by the exchange). This 10% is then split into two parts, half of which is distributed among the holders, and the other half is again divided into two parts - 50% is converted into Binance Coin, and the 50% percent goes to the SafeMoon liquidity.
How SafeMoon Works And What Affects Its Price?
As mentioned previously, SafeMoon set its primary goal to solve the volatility problem, which is a widespread problem among digital currencies. To make the prices stable, they try to boost buying SafeMoon coins and decrease its selling. In this way, they try to keep the liquidity stable; hence the costs will remain stable too.
Another factor that influences SafeMoon price is the coin-burning system that its founders set for it. SafeMoon is a deflationary coin, which means that its creators manually burn coins - This decreases SafeMoon supply and increases its value. More than 400 trillion SafeMoon coins have already been burnt from the beginning of the SafeMoon launch.
Read More: What Is SafeMoon And How Does It Work?
Is SafeMoon A Buy Right Now?
If we take a look at the SafeMoon price history charts, we can notice that the project gained popularity in a very short time. In a month, its value increased by almost 20,000%, largely because of some celebrities' endorsements, including Logan Paul, Dave Portnoy, and others. The price of SafeMoon increased after they have devoted some tweets about investing in SafeMoon. However, the prices started to fall shortly after and decreased by almost 100% till now.
Still, we cannot surely guess whether SafeMoon will grow or not as it’s a very speculative asset right now. This means that the risks of investing in this cryptocurrency are very high, so you need to be very careful and don’t put your capital at risk if you will need it later. One problem is that SafeMoon is not yet a practical coin and does not have any sophisticated projects for the future.
How To Buy SafeMoon Online In The US - A Step by Step Guide
In case you already decided to get some SafeMoon coins, here is a step-by-step guide that explains how to buy SafeMoon in the US.
Step 1: Find a US Regulated Crypto Exchange that Supports SafeMoon
As we have mentioned, you cannot yet buy SafeMoon directly from a cryptocurrency exchange. Instead, you will need to find an appropriate exchange to buy Binance Coin or another crypto that you can later swap with SafeMoon. Here are two of the best brokerage platforms that will satisfy you with a great user experience.
eToro: eToro is among the most visited brokerage platforms, and it operates worldwide. Among its various trading assets, it also supports buying, selling, and converting more than 120 crypto assets available not only outright but also through the CFDs. And what is most important, you don’t need to pay any commission fees when you purchase them, only the buy and sell difference fee is charged. As for your safety, eToro is a super-regulated platform registered with four financial institutions around the globe.
Coinbase: Being one of the crypto exchanges with the largest liquidity, Coinbase is a top-rated platform, especially in the US. It supports more than 50 cryptocurrencies, which you can buy through several payment options. Coinbase charges a trading fee which differs depending on the amount of crypto you buy and sell. Additionally, it offers a built-in wallet, a mobile app, and a Coinbase Pro account which differs from Coinbase in some features.
Step 2: Register for an Online Account and Fund Your Account
The registration process with the best crypto platforms is usually simple and quick. What you need to do is to fill in some personal data and verify your account with an ID or/and undergo address verification. After these steps, you can finally link a bank card or bank account to deposit money into your brokerage account. When your account is charged, you can search BNB and buy as much as you want to convert on Pancakeswap.
Step 3: Buy SafeMoon
Now, when you have finally bought BNB coins, you can get to swap them with SafeMoon coins. Just visit the Pancakeswap website and link one of the available wallets supported by the platform. Then, The next step is to transfer your BNB coins from your brokerage account to the crypto wallet you linked to the Pancakeswap. If you succeed in all of these steps, you can now convert BNB with SafeMoon.
Step 4: Transfer Your Funds to a Hardware Wallet
There are usually two ways of storing your cryptocurrencies - keeping them on your brokerage/exchange account or transferring your coins to a crypto wallet. When it comes to SafeMoon coin, you cannot keep it on an exchange account, as Pancakeswap will immediately transfer it to your crypto wallet. However, you can choose between hardware and software wallets. The main difference of which is that the first one is a physical device while the second one is a software app connected to the internet.
How To Sell SafeMoon
Selling SafeMoon is as easy as buying it. All you need is to log into the crypto exchange platform and head to the sell section. You can then select the amount of SafeMoon you want to sell. You can sell the tokens in exchange for the USD or sell them in exchange for other cryptocurrencies.
If you exchange SafeMoon with other cryptocurrencies, you can later sell them in exchange for USD. Afterward, you can withdraw your money from the exchange.
How To Trade SafeMoon In The US - A Step by Step Guide
In this part of the guide, we will explain how to trade SafeMoon online in the US. Again, we should note here that you can only trade SafeMoon through Pancakeswap. The latter supports only crypto-to-crypto trading, so you need first to buy a crypto asset to swap it with SafeMoon.
Step 1: Find an Online Trading Platform that Supports SafeMoon
As you won’t find an online trading platform to trade SafeMoon, you should use Pancakeswap automated market maker that allows you to swap several digital assets. However, you should take into consideration that it does not accept fiat money, meaning you will need to buy a token from the crypto exchange to convert it with SafeMoon. Binance Coin is a recommended cryptocurrency to buy and swap with SafeMoon. For that purpose, you can buy BNB on eToro and Coinbase.
Step 2: Fund Your Account
Next, you are required to complete the process of signing up for an online account and verifying it. As long as these brokers have robust security systems, they won’t sell you large amounts of crypto without the KYC process. After you undergo it, you can deposit fiat currencies into your brokerage account and purchase BNB. At last, you need to transfer it into a crypto wallet which you can link to the Pancakeswap platform.
Step 3: Develop a Trading Strategy
Much like any other type of investment, it’s essential to adopt a trading strategy before you start buying and selling SafeMoon. Trading strategies are of two kinds - active and passive. Active strategies require that you trade frequently and keep an eye on market changes. In contrast, passive strategies allow you to buy and hold an asset for a more extended period. In short, short-term trading is a bit tricky when it refers to SafeMoon as long as you will need to pay a 10% fee for every sell order. So, to avoid such risks, you can choose a passive strategy for SafeMoon coin trading.
Step 4: Start Trading SafeMoon
If you think you have got the right moment to buy and sell SafeMoon and can get a huge profit, you can visit the Pancakeswap platform to do so. Again, link your wallet to the platform and swap it with another token you want. Then, you'll be able to trade SafeMoon coin.
Things To Consider When Buying SafeMoon in the USA
Some of the factors you need to consider when buying SafeMoon in the USA include the following:
The future of the token
One of the things you need to consider when buying SafeMoon tokens is its future. The crypto market is full of uncertainties, so it can be very hard for you to predict the future of a token. SafeMoon is fairly new in the market and cannot be compared in similarity to BTC and ETH. A token’s future is solid if it has multiple uses, such as payments and other DeFi projects.
You also need to assess how the token prices have been changing so you can assess the level of risk. The crypto market is highly unpredictable, and the only way you can survive in the market is by understanding this nature.
You also need to know how many SafeMoon tokens are in circulation. The more available a token is, the easier it will be for you to trade it because of high liquidity.
SafeMoon Advantages and Disadvantages
Before you make a final decision to buy or trade SafeMoon coin, take a final look at its most striking advantages and disadvantages.
✅ You get rewards for holding SafeMoon coins
✅ The purpose of this project is to stabilize the volatility in the crypto market
✅ Strong marketing community
✅ Some celebrities endorse SafeMoon investment
✅ It highly increased in value in a month
✅ Deflationary coin system
✅ An affordable cryptocurrency for beginners
❌ It charges 10% every time you make a sell
❌ The coin does not have any practical use
❌ You cannot find it on the best cryptocurrency exchanges
❌ SafeMoon is considered a risky investment
What Is SafeMoon Price Prediction?
If you want to take a look at the SafeMoon price predictions, in this part of our guide, we will introduce some of the predictions conducted by crypto analyzing algorithms. One of them, Digital Coin Price, has quite an optimistic approach to SafeMoon's future prices. According to it, the costs will increase up to $0.000002 in 2022, and between 2024-2025 it will hit $0.000003. Overall, the prediction platform sees this cryptocurrency as a profitable investment and strongly recommends buying it.
According to Wallet Investor, SafeMoon can manage to rise to $0.000005 in one year, but the price will fall again, and in 2026 it will be traded below its currency price. The platform considers that SafeMoon won't crash in the near future, and neither can it surpass 1 cent.
Don't Miss: SafeMoon Price Predictions
How Do I Mine SafeMoon In The US?
SafeMoon's blockchain is based on the Proof of Authority consensus mechanism, so you cannot mine it like Bitcoin or stake it to get rewards. According to the Proof of Authority consensus mechanism, you need to become a validator to create new blocks and earn new SafeMoon coins.
Having said that, you can become a validator by proving your identity and investing in the project. In addition, SafeMoon blockchain charges 10% from the sellers, and 50% of it is distributed among the SafeMoon holders.
What Is The Total Supply Of SafeMoon?
SafeMoon has a circulating supply of 585,536,366,402,812 SAFEMOON coins and a maximum supply of 1,000,000,000,000,000 coins.
Things To Consider Before You Invest In SafeMoon In The US
In short, there are some crucial factors you need to take into account before you make a SafeMoon investment. The first thing is that it's a very speculative asset - The coin does not have a practical usage and doesn't yet solve any real-world problem. So, the only thing through which it can gain value is good marketing.
The next thing to consider is that it's a good long-term investment on the whole. The problem with this is that whenever you sell SafeMoon, a flat fee of 10% will be charged apart from the other trading things. Another problem is that when it comes to buying SafeMoon, you don't have a wide selection of crypto exchanges to select. However, this problem can be solved in the near future, as long as its founders negotiate about getting it listed in some exchanges.
For now, you can buy it on the Pancakeswap platform by converting it with another token. To learn how you can do it, follow our step-by-step guide that clearly introduces how to buy SafeMoon in the US.
eToro – Best Exchange To Buy SafeMoon In The USA
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