Should you invest in Safemoon cryptocurrency?

[Karl_BC]

Hello everybody!

While it’s the mainstream choice to invest in older cryptocurrencies like Bitcoin and Ethereum, most people nowadays are beginning to take their chances on new and up-and-upcoming coins as well. This is because smart investors don’t want to miss out on the next big thing that could potentially open the door to unique innovations and investment opportunities.

The Safemoon cryptocurrency is just one of these that has attracted the attention of savvy investors.

Safemoon was first launched as a token on March 8, 2021, by SafeMoon LLC. It was built under the Binance blockchain and was listed under exchanges such as PancakeSwap, BitMart, WhiteBit and more.

The name of the digital currency was coined after the popular phrase ‘To the moon’. Safemoon cryptocurrency aims to eliminate impermanent loss caused by volatile prices and trading patterns. To solve this problem and create a better liquidity protocol, Safemoon offers static rewards, performs manual token burns and offers an automatic liquidity pool.

Soon after its launch, Safemoon became the talk of the town especially after several celebrity endorsements from Youtuber Logan Paul and rapper Lil’ Yachty.

What you should know about Safemoon

If you’re looking to invest in Safemoon, it’s better to learn everything you can about the digital currency first. Read the list below to get an idea of what you should know about Safemoon:

* Safemoon had an eventful start in the market
Safemoon launched with over 777 trillion tokens. And a month after its release, the prices shot up by 20,000% and fell back down within a matter of days.

This caused more people to learn about Safemoon and what exactly it offers as a digital currency. Since then, the price of Safemoon hasn’t changed drastically and as of October 2021, is at $0.000001626.

* Safemoon cannot be purchased via cash or crypto exchanges
Most cryptocurrencies offer ease of access through exchanges but unlike them, Safemoon cannot be purchased in crypto exchanges or through cash transactions.

Instead, Safemoon can be purchased by converting Binance Coin or Tether into Safemoon via PancakeSwap, a decentralised crypto platform. The second way to buy Safemoon is by downloading the Trust Wallet crypto app and acquiring Safemoon from there.

* Safemoon has a 10% fee every time it’s sold
When Safemoon was first released in March of 2021, it was quickly made evident that the digital currency discourages day trading or short-term transactions. Every time Safemoon is sold, a 10% fee is charged. This aims to stabilise the price and reward long-term traders, according to Safemoon’s whitepaper.

Moreover, with this 10% fee, half of it will be distributed as dividends to all of the holders of Safemoon. On the other hand, the other half will be used for a Safemoon and Binance Coin liquidity pool.

* Traders find it an intriguing investment despite speculations
All investments, whether digital or not come, with risks. This is why crypto traders must know about the market and understand how digital assets work. Through smart trading, using new cryptocurrencies like Safemoon can be a valuable experience. Traders also find Safemoon a somewhat speculative investment due to its unconventional design.

Is it worth buying Safemoon?

Safemoon is by far one of the most popular, newly-released cryptocurrencies that had an eventful half-year in 2021. This leads us to the question that everyone wants to ask: is it worth buying Safemoon?

Buying Safemoon is worth it as long as traders know what they are getting into. Proper research and knowledge about the market are essential before delving into new investments such as this. Through careful consideration and adept skill in trading, Safemoon can prove to be a profitable investment in the future.

Thanks for reading and you're welcome to share your thoughts about Safemoon.

Regards,
Karl


Source: Bitcasino blog

[TomPluz]

Yeah, I heard many things on Safemoon though I have not converted any of my limited BNB or Tether into it. I am sure that since it appears to have a good team behind then we can expect that soon it will be doing another big pump just like what is happening with Shiba Inu right now. Anyway, good luck to all holders and I am wishing you all the profits everybody can be looking for!

[Octoalts]

Safemon once boomed, but sadly only for a moment.  Personally, I prefer SHIB to Safemoon. Or you can also choose Goma, but keep in mind that buying coins like this has a very high risk.

[TomPluz]

Safemon once boomed, but sadly only for a moment.  Personally, I prefer SHIB to Safemoon. Or you can also choose Goma, but keep in mind that buying coins like this has a very high risk.

They can be more exciting to invest and watch but has more risks compared to the "normal" coins or tokens. And one thing for sure is the lack of use-cases compared to Ethereum, ADA, DOT, Polygon which we know are booming right now as more and more people are getting into them. I am not so sure what is Safemoon for...or is this not another Dogecoin copy-cat that are out in the market to make money first and foremost?

[NancyDeep]

Never heard about this coin, interesting name though.

[KryptoBull]

Unfortunately, I don't understand the tokenomics of this project, it was born just to increase the token price. I don't see its potential for users or the crypto ecosystem. I will invest in other potential tokens like NEAR, CELO, CSPR…

[Gyrgen]

Having studied the token, I did not see anything new. Many projects create a similar model and pursue the same goal. The only difference is that they are not advertised by some rappers and bloggers, albeit famous. I think they will soon forget about it, unless Elon Musk says that he is very I like the project as he did with the dog token))).

[rizqillah]

Yeah, I heard many things on Safemoon though I have not converted any of my limited BNB or Tether into it. I am sure that since it appears to have a good team behind then we can expect that soon it will be doing another big pump just like what is happening with Shiba Inu right now. Anyway, good luck to all holders and I am wishing you all the profits everybody can be looking for!

Me too, I think safemoon will pump like shiba inu.
I still have safemoon and hold it
 although not much.
But I believe safemoon will pump and touch new ATH at this month.
So wait and see.

[KKH84]

I tend to stay away from such investments, for me the risk is too great.  Safemoon, shiba, 100x and tokens that have a supply of trillions I would think a thousand times to buy it, it's undeniable that they have a strong community out there.

[Doctor]

I tend to stay away from such investments, for me the risk is too great.  Safemoon, shiba, 100x and tokens that have a supply of trillions I would think a thousand times to buy it, it's undeniable that they have a strong community out there.

Yes,.I think we should learn their supply.
I don't like to invest in shib, 100x and safemoon.
I think top 10 coins are better for investment than those coins.
They just FOMO,  we should see their fundamental and project.
Not just meme coins.