How to buy SafeMoon - Where to Purchase SAFEMOON?
SafeMoon is a decentralised finance (DeFi) token. The platform claims that the token has three functions that occur within each trade; Reflection, LP Acquisition and Burn. The protocol combines tokenomics and an auto-liquidity generating protocol. The platform plans to develop a non-fungible token (NFT) exchange and cryptocurrency educational apps. The network is powered by the native SafeMoon token (SAFEMOON). It is a relatively new token that has become popular in a short span of time.
This article discusses the various ways you can buy SAFEMOON and provides you with the required information to trade it on various cryptocurrency trading platforms.
Buy SafeMoon in 3 Easy Steps
Create a free account
Fund your account
Why Trade rather than Buy SafeMoon for Cheap and Fast Returns?
You Don’t Need a Wallet:
You trade on the price movement of the coin without having to buy and store it.
You Can Use Standard Payment Methods:
All regulated brokers accept popular methods of payment such as credit / debit card and bank transfers.
Trades Are Fast and Withdrawals Are Easy:
Trades are executed within seconds and withdrawals will reflect instantly in your account.
What is the Easiest Way and Best Way to Buy? Compare the Top SafeMoon Brokers
Cryptocurrency brokerage platforms are some of the best places to buy SAFEMOON. Brokers grant you instant and easy access to the SAFEMOON token. However, with numerous crypto brokers available, it is tricky finding the right one. You need to analyse the brokers and choose the best one for you.
5 Things to Consider if you want to Buy SafeMoon
As an interested investor in the SafeMoon project, you need to consider a few things before you choose your trading platform. These steps will help you decide on the best platforms to help you with your trading activities.
1. Carefully choose your preferred secure payment method
The first thing to consider is the payment option you intend to use. There are numerous payment options available to traders in various parts of the world. When choosing a payment method, ensure that it is available in your region and it offers you excellent security. Also, it would help if you look at other payment factors like the speed and cost of a transaction.
2. Will you need to set up your own wallet?
As a SafeMoon investor, you will need your private wallet to secure your tokens. Crypto exchanges have built-in wallets, but you should consider using cold storage or other private wallets. They offer better security for your funds and help in ensuring that they are not easily stolen. However, when you use a broker, you won't need a crypto wallet since you will be trading the SAFEMOON token as a CFD and thus eliminating the possibilities of hacks and theft.
3. Comparing costs
It would help if you considered the cost of transactions on the numerous SAFEMOON crypto trading platforms. Conduct research to find the most affordable platforms for you that don't sacrifice speed and security in the process. Regardless of that, crypto transactions cost less than traditional fiat currencies.
4. Safety and security
The safety of your SAFEMOON tokens should be your number one priority. SAFEMOON is built on the Binance Smart Chain which is one of the leading decentralised smart contract platforms. The Binance Smart Chain is home to numerous DeFi platforms and it offers top grade security. Also, the crypto brokers offer high-end security protocols to protect your funds and personal data. When using crypto brokers, you will be required to use additional security techniques such as the two-factor authentication (2FA). The MT4 and MT5 platforms used by brokers are also very secure.
5. Can you understand and navigate the platform?
You must understand how to navigate a platform before you register or start trading with them. Crypto brokers run different software, which means each one has its own degree of difficulty. Hence, understanding how to navigate a platform will make it easy for you to trade SAFEMOON tokens and other digital assets. We encourage you to take the time to explore the brokerage software before you choose the best one for you.
Ultimate Beginner's Guide to Trading SafeMoon
What is a SafeMoon Broker?
Cryptocurrency brokers are financial institutions or individuals that play the roles of intermediaries, executing trades on behalf of the investors and traders. Brokerage platforms have become popular as the internet has made it possible for anyone to trade financial assets. With crypto brokers, you can gain exposure to SAFEMOON by trading the cryptocurrency without holding the actual tokens. SAFEMOON has witnessed incredible adoption since it launched a few months ago.
What is a SafeMoon CFD?
CFD is an acronym for Contract for Difference. It is a trading instrument where you can speculate on the price performance of a financial asset without buying the underlying asset. This means you can open buy and sell positions on the asset without holding it.
Trading SAFEMOON as a CFD comes with numerous advantages. The first is that you can earn profits when trading CFDs, even if the price of an asset is declining. You can bet on the SAFEMOON's price going up or down, and if your prediction is correct, you will earn profits. CFDs also allow you to earn higher profits than supposed to, thanks to trading tools like margins. However, this tool can also amplify your losses if the market moves in the opposite direction.
What is the Benefit of SafeMoon Regulation?
Trading SAFEMOON tokens with a regulated platform offers you several benefits. As regulated platforms, the crypto brokers offer you better security for your funds and personal data. You don't have to be concerned about the loss of your funds as the security measures in place are excellent.
What is the Best Payment Method for Buying SafeMoon?
You can fund your crypto exchange or brokerage platform using a wide range of payment methods. As a popular token, it is quite easy to buy SAFEMOON. However, not all payment methods would be available to you due to country restrictions, and brokers don't accept some options.
Buying SafeMoon with PayPal: PayPal is one of one of the top online payment networks, with millions of customers worldwide. What makes it a great option is that it has low transaction fees. However, you can find cheaper alternatives if you carry out in-depth research. Furthermore, PayPal is not readily available on some crypto brokerage platforms.
Buying SafeMoon with Cash: It is difficult to find someone who is willing to exchange a coin in cash, even though it is sometimes possible primarily through peer-to-peer exchange platforms. As a cryptocurrency, most SAFEMOON transactions take place online. This means finding someone that would collect physical cash in exchange for SAFEMOON tokens would be a challenge for you.
Buying SafeMoon with Bank Transfer: This is a popular way of buying SAFEMOON tokens. The Bank Transfer method is adopted by several traders because of its low fees. However, transactions are slow, and it could take days for the funds to appear in your crypto brokerage account. Bank transfers are usually used by institutional players who deal with large transactions.
Buying SafeMoon with Credit Cards or Debit Cards: This is the most popular and convenient payment method to buy SAFEMOON. Virtually all crypto brokerage platforms offer this payment option. The funds are deposited in your account almost instantly. However, you have to contend with high transaction fees when using this payment method.
The Verification Process for Trading SafeMoon
When trading with a crypto broker, you will be required to verify your account at the start before you can carry out some activities. The process is usually easy, and it involves you providing some form of address confirmation, along with a government-approved ID. The broker may call you to verify the details through a video call but in most cases, the ID’s can be submitted online. Account verification process usually takes between 24-48 hours.
SafeMoon: Long vs Short Term Investment
Investing in SAFEMOON for the short-term differs from long-term investment. As a short-term investor, you purchase the SAFEMOON token at a low price and hold it for a few days or weeks before selling it at a higher price. On the other hand, as a long-term investor, you buy and hold on to the tokens for months or sometimes years.
Short-term investments offer quick profits, but it has its risks. However, long-term investment has lower risks, but you will need to understand the fundamentals of the project properly. This will help you determine if you should open a long position on the cryptocurrency and you can ignore the short term price fluctuations.
Why Buy SafeMoon rather than Trade?
Some prefer to buy the token, while others prefer to trade it. However, buying SAFEMOON and holding it for the long term offers numerous advantages such as;
- Access to the physical token: When you purchase SAFEMOON, you are given access to the actual token. The token serves several functions, and you can use it accordingly. You can hold it for long-term profits or use it on the SafeMoon network.
- Long-term investment: By purchasing SAFEMOON tokens, you are doing so at a low price and holding it for a long time to earn profits. Long-term investments usually deliver huge profits compared to trading them, where you only hold them for a few hours or days. By buying and holding, you are less affected by price swings and market fluctuations. The profits from short-term trading don't match the earnings of long-term investment.
- Token control: Buying SAFEMOON grants you control of the tokens at all times. You can either store the tokens on the crypto trading platforms or in private wallets. Private wallets are better because they offer better security than the exchange wallets.
Before you delve into the process, you have to know that buying and holding SAFEMOON is an investment. This means you need to carry out adequate research on the project before making major decisions. Research is also needed to help you find the best trading platforms to use, the top wallets to store your tokens and the features you require to be successful.
What Fees are Involved in Buying SafeMoon?
When you purchase SAFEMOON tokens, you will have to pay certain fees on the network. The crypto trading platform also charges you a fee for processing your transactions. However, the fees are negligible as you will be holding the tokens for the long term. Despite that, you should compare the trading fees on various platforms to determine the cheapest and best one for you.
Transaction Fees: You will pay network fees when you buy SAFEMOON tokens. The network fees are paid to miners and stakers for securing the network. SafeMoon is an Ethereum-based token, which means you will pay Ethereum gas fees to conduct transactions with the cryptocurrency. However, the gas fee changes based on the amount you are transacting and the network congestion at that period. Regardless, the network fee is still negligible if you are buying and holding SAFEMOON for a long time.
Deposit Fees: The deposit fee varies amongst cryptocurrency brokers and exchanges. To ensure you don't pay too much in deposit fees, you will need to research and find the platforms with the cheapest deposit fees and excellent services.
Withdrawal Fees: Usually, crypto exchanges and brokers don't charge withdrawal fees. However, the payment platform you are using will charge you for processing the transactions. Check the various withdrawal options like credit/debit cards, PayPal and Bank Transfer to see those with the lowest withdrawal fees.
Safely Storing Your SafeMoon
You can securely store your SAFEMOON tokens on a wide range of cryptocurrency wallets, including the following.
Web Wallet: This is the wallet type offered by cryptocurrency exchanges and other trading platforms. The web wallets offer an easy and convenient way to store SAFEMOON tokens and other cryptocurrencies. However, they don't offer maximum security for your tokens, as exchanges have lost billions of dollars to hacks and theft over the past decade. Storing your SAFEMOON tokens on an exchange wallet puts them at risk of being stolen.
Mobile Wallet: They offer better security than the web wallets and still provide you with the convenience to store and use your SAFEMOON tokens. Despite their security, mobile wallets are still vulnerable to hacks and theft, especially if someone can access your mobile device. Some of the top mobile wallets to store your SAFEMOON tokens include ZenGo, TrustWallet, Jaxx Liberty and BRD.
Desktop Wallet: The desktop wallets are software programs that allow traders and investors to store various cryptocurrencies, including SAFEMOON. The desktop wallets offer better security as compared to the other two mentioned above. MyEtherWallet, MyCrypto, MetaMask and Exodus are some of the top desktop wallets that you can use to store SAFEMOON tokens.
Hardware Wallet: This is the best and most recommended wallet type. Hardware wallets offer the best security, allowing you to store your SAFEMOON tokens without worrying about hacks and theft. This is because the funds are stored in an offline device, making it impossible for attackers to gain access to your tokens. Some of the best SAFEMOON hardware wallets include Ledger Nano S, Trezor T and KeepKey.
Wallet combinations: This involves the combination of any of the two wallet types described above. An important example is Ledger Live. It is the desktop version of the Ledger hardware wallet, allowing you to connect the two and conduct transactions with ease while still maintaining tight security.
What Other Coins Can I Trade or Use to Buy SafeMoon?
What's the Smallest and Largest Amount of SafeMoon I Can Buy?
There is no set maximum amount you can spend on buying SAFEMOON tokens. The major determinants would be how much you are willing to spend and the liquidity the crypto exchanges or brokerage platforms offer. Some trading platforms set the minimum limit to be around $5 to $10, depending on the exchange or broker you are using.
Can I Buy SafeMoon Anonymously with no ID? Is it Safe and Legal to Buy SafeMoon?
Yes, you can buy SAFEMOON anonymously without verifying your ID. This is because SAFEMOON is mostly available on decentralised exchanges, and they don't require people to verify their IDs before they buy or sell cryptocurrencies. However, we recommend buying from platforms that are regulated, and these platforms require you to verify your ID. Although the regulated platforms don't offer you anonymity, they make up for it by providing you with high-end security and other excellent features.
Will Buying SafeMoon Make Me Money?
Several traders and investors have earned massive profits from their SAFEMOON investments over the past few months. However, before investing, you need to understand the fundamentals of the cryptocurrency so you can determine if you can invest in it or not. It will also help you know if you are entering for the short or long term. Despite that, always keep in mind that the relevance of cryptocurrencies continues to grow, and the market is expected to grow even bigger over the next few years. If you wish to research the price history of the token, please visit our SafeMoon Price Page.
How to Spend your SafeMoon
SAFEMOON is a token that could be used on the upcoming SafeMoon DeFi platform. You can store it to use on their upcoming exchange and marketplace that will be launched soon.
How to Sell your SafeMoon
You can sell your SAFEMOON tokens on crypto exchanges or brokerage platforms. With brokers, you don't have to worry about transferring the tokens as you sell them as CFDs. The broker will credit you with the equivalent fiat currency almost instantly. However, with exchanges, you can only sell it for other cryptocurrencies or stablecoins such as USDT, BNB, BUSD and CAKE. Once that is done, convert the swapped cryptocurrency to fiat currency and withdraw it to your bank account.
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Frequently Asked Questions
The SAFEMOON token can be used on the SafeMoon platform. You can store the tokens and use them on their soon-to-be-launched NFT exchange and marketplace.
SAFEMOON is currently available on numerous decentralised cryptocurrency exchanges. Some of these exchanges include PancakeSwap, Gate.io, LBank, BitMart, ZBG, Bitbns, MXC.COM and Hotbit. You can also buy and sell SAFEMOON from some crypto brokerage platforms.
Binance Smart Chain is one of the leading DeFi blockchains in the world. Some developers use it instead of the Ethereum blockchain to host their tokens and DeFi projects.
SafeMoon is a decentralised financial project, which means there is no single authority that controls the tokens.
The answer to the legality question depends on how your country views cryptocurrencies. However, SAFEMOON is a legal cryptocurrency in most countries around the world but check your local laws before buying.
This is because the cryptocurrency market has numerous investors and traders that are only speculators. They are not interested in a project's fundamentals or what it does but only in making short-term profits. Hence, as the demand and supply rise and decline, so does SAFEMOON's price. However, the fundamentals of the crypto space haven't changed. If you are a long-term SAFEMOON investor, ensure you study its fundamentals to know if the project has a chance to gain massive adoption.
This cryptocurrency can achieve massive adoption with its NFT exchange. NFTs have become popular, especially in the sports and entertainment industries. SAFEMOON token could gain massive adoption with the projects NFT exchange and the crypto education apps.
Paying taxes on your SAFEMOON earnings is important if cryptocurrency gains are taxed in your country. Find out about the tax laws on cryptocurrencies in your country to know if you should or not.