You may have been wondering how to go through the process of purchasing Safemoon crypto and where you can buy it. In this guide, I will walk you through a step-by-step guide on where to buy Safemoon and how to buy Safemoon on different exchanges.
What is Safemoon?
SafeMoon Protocol is a decentralized finance (DeFi) token built under the Binance Smart chain blockchain.
SafeMoon has three functions that take place during each trade which are:
- Reflection
- LP Acquisition and
- Burn.
SafeMoon protocol is a combination of RFI tokenomics and an auto-liquidity generating protocol. SafeMoon plans to develop a non-fungible token (NFT) exchange, as well as charity projects and crypto educational apps.
With SafeMoon protocol, token holders will earn more Safemoon depending on how many coins they have. This can be up to an 80% APY, which is staggering when compared to traditional interest accounts.
SafeMoon protocol will gain value over time thanks to its coin-burning strategy, making it a deflationary digital currency.
SafeMooon Protocol will be expanding to include an NFT marketplace and coin launchpad, which will allow users to create their cryptocurrencies via the platform.
SafeMoon protocol has an ambitious roadmap thanks to its growing popularity, and they wish to be listed on the leading exchanges, launch a decentralized exchange (DEX), and increase their partnerships by the end of 2021.
Where to Buy Safemoon
You can buy Safemoon on different cryptocurrency exchanges, both DEX (Decentralized Exchange) and CEX (Centralized Exchange) that are mentioned below.
Pancakeswap
PancakeSwap is an automated market maker (AMM) that was launched in September 2020. It’s a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. Pancakeswap is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain.
The exchange uses an automated market maker model where users trade against a liquidity pool. These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return.
Moreover, PancakeSwap allows users to trade BEP20 tokens, provide liquidity to the exchange and earn fees, stake LP tokens to earn CAKE, stake CAKE to earn more CAKE, and stake CAKE to earn tokens of other projects.
BitMart
BitMart is a global digital assets trading platform with over 2.2 million users worldwide; it was launched in 2018 and is based in the Cayman Islands.
It also has offices located in New York, China, Hong Kong, and Seoul. BitMart’s vision is to bring cryptocurrency available to everyone everywhere.
They believe that the decentralized digital currency will reshape the global economy fundamentally; such financial freedom would bring further economic innovation, efficiency, and equality to the world.
The exchange has three main priorities; being trustworthy, accessible, and professional.
BitMart supports spot trading, otc trading, and USD trading.
Hotbit
Hotbit is a cryptocurrency exchange that aims to provide a built-in artificial market-maker digital engine that meets the standard of Wall Street industrial standards.
Hotbit currently supports more than 700 cryptocurrencies and has almost 1500 trading pairs available.
Hotbit focuses on being highly efficient, flexible, diverse, stable, and secure. Hotbit aims to offer a diverse range of coins by listing new projects from all over the world.
Users can get customer support 24/7, and high liquidity is provided, according to the platform. Hotbit doesn’t require KYC when you register, trade, deposit, or withdraw.
They do offer two-factor authentication and claim to meet the safety requirements set by the IT surveillance logical structure from the Financial Industry.
Gate.io
Gate is a cryptocurrency exchange platform that started in 2017.
Gate.io was first founded in 2013 under the name Bter.com by CEO (Lin Han) while it was rebranded to Gate.io in 2017.
The exchange was known as a Chinese platform, but right now, it is not associated with China and seems to be US-based with a registered address in Virginia.
Gate.io supports 400 cryptocurrencies and has almost 800 trading pairs available.
Gate.io aims to protect its user’s funds with both centralized and decentralized methods.
The exchange claims to have invested millions in security and law funds to add extra protection for the users’ assets.
Kickex Exchange
Kick Ecosystem describes itself as a set of FinTech tools that form a “one-stop-shop” for every user from all over the world.
These tools aim to cover all financial needs. KickToken acts as a central currency, which resides on the Ethereum platform.
The ecosystem comprises an exchange (KickEX.com), a referral program KickRef (ref.kickex.com), a white label token sale solution (KickDesk), STO listing and trading, a unified login system (KickID), a multicurrency wallet (KickWallet), a crypto payment gateway (KickPay), ad network integration (KickCPA), a mobile app (KickMobile), a messaging service (KickMessenger), a crypto markets research institute KickAcademy (academy.kickex.com) and exchange-pricing solutions (AIO and IEO)
Kickex Exchange enables buying and selling of a cryptocurrency in a more efficient way.
BitForex
BitForexis a digital asset cryptocurrency exchange that offers spot and perpetual futures contracts that can be traded with leverage up to 100x.
It’s a relatively new exchange that was launched in 2018.
The exchange aims to provide a wide range of trading products, which includes spot trading, margin trading, and derivatives.
According to its website, BitForex constantly launches new features and products to meet the user’s needs.
The exchange is supported in more than 180 countries and offers over 300 trading pairs.
How To Buy Safemoon
Below is the step by step guide on how to buy Safemoon crypto safely and easily
How To Buy Safemoon With TrustWallet
To buy Safemoon with trust wallet, you need to download trust wallet on Playstore or Appstore and then create a wallet in the App.
In the process of wallet creation on Trustwallet, a 12 recovery phrase word would be assigned to you, and you’ve got to save the 12 words in a safe place, then verify that you have written the words down because that’s the only means of recovering your wallet in the case of phone lost or any unforeseen circumstances.
Click on “Done,” and your wallet is ready. You don’t need to create a new wallet if you already have an existing wallet.
After that, the next step is to buy Safemoon with your wallet on Trustwallet, and that’s what brought up “how to buy Safemoon on Pancakeswap” below.
How To Buy Safemoon On Pancakeswap
To buy Safemoon on Pancakeswap, you should know that Safemoon is a token Binance Smart chain (BSC) Token; thus, you need to have BNB (Bsc version) before you can buy Safemoon on Pancakeswap.
Create a Binance account and verify the account with your ID document or login into your existing Binance account
After that, buy USDT on your Binance account with Binance P2P trading features or from any third-party vendor and sell it for BNB by utilizing the spot trade feature on Binance.
Then open your trust wallet app and navigate to “Smart Chain,” and copy the address.
Go back to your Binance account, click on wallets at the left drop-down page and navigate to your BNB balance, then click on “Withdrawal,” input the address that you’ve copied from Trustwallet in the address bar and select “Bep20 (BSC)” as the network, input the amount of the BNB that you want to send then proceed and authorize your transaction with the confirmation message that would be sent to your phone number and email address.
The BNB will arrive at your Trustwallet BNB (SmartChain Version) wallet within a few minutes.
The next step in action is to go to your Trustwallet app and navigate to the Dapp page, then input “pancakeswap.finance” on the address bar and load.
- On the next page, click on the Ethereum logo and change to “SmartChain”
- Then click on “Connect wallet” and select “Trust Wallet”
- Click the three parallel lines at the top left side of the page and navigate to “Trade”, then select “Exchange”
Now that you’ve got to the “Trade” page of Pancakeswap, you need to get the Safemoon contract address, and you can easily get that by navigating to bscscan to search for “Safemoon contract address” Or instead copy the address below to save you the stress.
“0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3”
- Input the amount of BNB you want to swap for Safemoon and paste the contract address in the tab that indicates “Select a currency”
- Make sure you navigate to the setting on the page and adjust the “Slippage tolerance” to 12 for easy trade and cancel the settings page then click on “Swap”
The Equivalent Safemoon will show automatically in your wallet after a successful transaction.
Conclusion
Coindictate authors may or may not have a vested interest in any mentioned projects and businesses.
None of the information provided in this article is investment advice, nor is it a replacement for advice from a certified financial advisor.
The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of Coindictate.
