How to buy SafeMoon — the easiest way to buy the lunar-inspired crypto | Laptop Mag
How to buy SafeMoon — the easiest fashion to buy the lunar-inspired crypto
Note: This is non financial advice. This how-to article is for educational purposes just. Delight note that cryptocurrency is a highly volatile asset class; only invest what y'all can afford to lose.
"How to buy SafeMoon" is a question many risk-tolerant investors are asking, peculiarly since some claim the new lunar-inspired token could be the next Dogecoin. Safely aiming for the moon, SafeMoon supporters believe it could follow the same upward trajectory equally Dogecoin.
On top of that, David Portnoy — internet celebrity and founder of Barstool Sports — endorsed SafeMoon equally his favorite meme token, causing the cryptocurrency to surge to new heights. Whether you missed the Dogecoin rally, or you simply want to diversify your cryptocurrency portfolio with a new trendy altcoin, we've got the scoop on how to buy SafeMoon.
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What is SafeMoon?
Before you hop on a nearby spaceship to a SafeMoon-supported crypto exchange, let's whip out our metaphorical telescopes and zoom in on what SafeMoon is all almost.
SafeMoon, which operates on the Binance Smart Chain blockchain, launched on March 8, 2022, but it took off like a rocket on Twitter and TikTok in mid-April, sparking interest among many crypto investors. On April 20, Binance even had to temporarily suspend withdrawals from its platform due to the sudden influx of SafeMoon investors.
#BNB withdrawals are temporarily suspended due to a large volume increase causing a withdrawal excess. Rest bodacious our team is working on it.We apologize for whatever inconvenience caused and cheers for your patience.April twenty, 2022
Before you purchase the trending token, you must know that SafeMoon penalizes sellers with a 10% fee, and redistributes half to other token holders to incentivize ownership and holding. SafeMoon was created to address several problems plaguing cryptocurrencies today, including toll volatility and crypto investors' bad addiction of premature selling; hence the x% selling fee. Crypto blogger Lou Bagel says the upside of SafeMoon is that you'll keep making money as new people buy in, but the downside is that if no i buys SafeMoon, investors will receive 5% of zilch and the low demand volition cause the toll to plummet.
According to CoinMarketCap, SafeMoon was trading at effectually $0.000002 on April 18. Two days subsequently, SafeMoon skyrocketed to an best high of $0.00014 — an increase of nearly 7,000%. If you invested $one,600 into SafeMoon on March 22, you'd have a whopping $60,000 a month later.
How to purchase SafeMoon on Trust Wallet
Purchasing SafeMoon isn't the most straightforward process, but with these easy-to-follow, pace-by-step instructions, you'll have your tokens in no time. For this guide, I'll be using PancakeSwap every bit the chief exchange for SafeMoon.
Convert BNB to Smart Chain via Trust Wallet
one. Download the Trust: Crypto & Bitcoin Wallet app from the app store (on iOS and Android).
2. Open up the app and tap "Create a new wallet."
3. Review the Privacy Policy and Terms of Service. Tick the box next to "I've read and accept the Terms of Service and Privacy Policy."
four. You'll exist given a dozen recovery words. Write them down sequentially in a notebook for safekeeping.
5. Adjacent, the app volition bear witness you your 12 recovery words non-sequentially. Tap the words in the correct order and you'll land on TrustWallet'southward main page.
6. Navigate to "BNB" and tap "Buy BNB." Input how much money you'd like to invest in USD and striking "Adjacent."
7. You lot'll be prompted to purchase BNB with a credit or debit card. Wait until the purchase is candy.
eight. Head back to TrustWallet's chief page and you should see y'all now have some BNB. Tap on "BNB," hit "More" and tap on "Swap to Smart Chain."
nine. Head back to TrustWallet'southward primary page and yous should come across that your Smart Concatenation guild is fulfilled.
Using PancakeSwap to convert Smart Concatenation to SafeMoon
For the next set of instructions, if you have an Android device, y'all can skip the first step. Only if yous have iOS, you lot'll need to follow the first step to admission PancakeSwap (a decentralized marketplace that lets you lot buy SafeMoon).
i. (Merely for iPhone users) Open Safari and visit PancakeSwap. Tap on"Connect Wallet."Tap on "Trust Wallet"and tap on"Trust."You'll exist prompted to login to your Trust Wallet account. Finally, tap on"Connect"on the"PancakeSwap wants to connect to your wallet"window. Skip to pace 4.
2. In the TrustWallet app, tap on "dApps" on the bottom taskbar. Next, tap on "PancakeSwap."
3. Tap the "Connect" push button on the top-right corner and hit "TrustWallet." You should see that your Smart Chain tokens are now in PancakeSwap.
4. Tap "Select a currency" and type in "SafeMoon" into the search bar.
v. A notice will pop up to inform you that SafeMoon taxes a ten% fee on each transaction. (It will also ask you to have "slippage" into account, which is when the executed cost is different from the initial quote; you lot're required to let a 12% buffer.)
six. Tap on the icon next to the time symbol on the superlative-right corner, and as requested past PancakeSwap, set your slippage tolerance to 12%. Click "X" to save and exit the window
seven. Tap "Swap" and "Confirm Swap." This will prompt a "Transaction submitted" message to pop up.
8. Click on "View on BscScan." The status bar should say "Success," proving yous successfully converted Smart Concatenation into SafeMoon. Exit PancakeSwap.
How to see SafeMoon in your TrustWallet
At this betoken, y'all're probably wondering, "Okay swell, I bought some SafeMoon, but where are they?" Don't worry! Follow these steps to enable SafeMoon in TrustWallet and confirm that you have them in your possession.
one. Re-create SafeMoon's Contract Address hither: 0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3
2. Navigate back to TrustWallet's principal page. Click the blue icon on the peak-correct corner and gyre to the lesser.
3. In the search bar, type in "Prophylactic."
iv. Tap on "Add Custom Token." Change the network from Ethereum to Smart Chain. Under "Contract Address," paste SafeMoon's Contract Address. Tap "Salvage."
v. Voila! You should see your SafeMoon tokens in the TrustWallet app.
Proceed in mind that SafeMoon is still in its infancy, so while some are optimistic that information technology'due south the adjacent Dogecoin, others are skeptical — it's just also early to tell whether SafeMoon is headed for greatness or ruin. As with whatsoever investment, you should assess your take chances tolerance and act accordingly.
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Kimberly Gedeon, holding a Primary'southward degree in International Journalism, launched her career as a journalist for MadameNoire'south business trounce in 2022. She loved translating stuffy stories about the economic system, personal finance and investing into digestible, easy-to-understand, entertaining stories for young women of colour. During her time on the business beat, she discovered her passion for tech as she pigeon into articles about tech entrepreneurship, the Consumer Electronics Show (CES) and the latest tablets. Subsequently eight years of freelancing, dabbling in a myriad of beats, she's finally found a home at Laptop Magazine that accepts her as the crypto-addicted, virtual reality-loving, investing-focused, tech-fascinated nerd she is. Woot!
Source: https://www.laptopmag.com/how-to/how-to-buy-safemoon
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