Introduction To SafeMoon
SafeMoon is a new addition to the list of Cryptocurrency. It was created by John Karon in the first quarter of 2021. Characterized under the DeFi token, SafeMoon has been launched with a community-driven approach.
The overall aim of SafeMoon is to ensure safe gains and prevent the inevitability of bubbles. This ideology has gained SafeMoon 2.9 million holders since its creation.
When it comes to the global ranking in the list of cryptocurrencies, SafeMoon stands at 232 position with a market capitalization of $298,893,511. Creator has got nearly 585,536.37B SAFEMOON coins circulating in the crypto economy.
What Is SafeMoon Trading, And How It Works?
SafeMoon trading, just like every other trading, relates to buying and selling the digital token on a reliable exchange platform. It differs from already existing cryptocurrencies as it cannot be bought directly from an exchange.
Every cryptocurrency gives its trader easy access to the features of buying and selling. Unlike other cryptocurrencies, SafeMoon adds two layers before anyone can get their hands on it.
The first step is to have a SafeMoon wallet. This is followed by the next step where you have to buy Binance Coin and convert it into a Smart Chain. This is necessary as the entire ecosystem of SafeMoon is built on Binance Smart Chain.
Once you have converted Binance Coin into a Smart Chain, you can finally swap it for a SafeMoon token. Other cryptocurrencies make it easier for a user to purchase as they are registered on an exchange platform. They can be bought with – literally – only a few taps on your mobile screen.
Trading of SafeMoon grounds on three features namely Reflection (also known as Static Rewards), LP Acquisition, and Manual Burn.
Is It Profitable To Trade SafeMoon (SAFEMOON)?
There is less conclusive evidence to claim that SafeMoon is a likely candidate that will generate profit. It is a risk to invest in something that does absolutely nothing. Analysts say that SafeMoon appears to be legit but does not seem a rightful place for profit.
The objective of SafeMoon, since the last 12 months, has come out in the market to only get more and more people to buy the digital coin. The intention could be to drive the value of SafeMoon to its peak; however, there is little to no clarity about it.
Crypto scams have hunted down many innocent traders’ hard-earned money. This could be just another pump and dump-based scheme.
What speaks differently is the numbers it has achieved on the digital platform. Call it a marketing strategy but SafeMoon has succeeded in getting a total of 100,000 downloads of Android wallets. When launched on iOS, it quickly climbed up to the 10th position within 24 hours.
It last hit a peak in its trading value in October 2021. The price is low but may bounce back as the community is continuously looking to burn some more tokens.
How To Trade SafeMoon, And Earn Huge Profits?
No one really recommends trading SafeMoon, especially in the short term. Trading would require you to sell a portion of your holding. This will eventually hurt your withdrawings as SafeMoon attracts a selling fee of 10%.
You can still trade it by holding it for a longer time. Meanwhile, you can earn passive income from SafeMoon. Its functions somehow motivate you to hold onto your digital coin. You are rewarded a portion of the selling fee whenever someone sells his or her share of SafeMoon.
Traders claim that around half of the selling fee is distributed among those who are still holding the digital coin in their wallets.
Profit can also be earned in the future if the team manually burns tokens. The SafeMoon team is known to do so to keep the supply scarce and drive the price up to the roof. There is never a timeline with pinpoints of when tokens are burnt. Keeping your eye open is one way of not losing track.
Stick to the plan of holding SafeMoon for as long as you can, assuming you have got your hands on it after completely trusting a newly launched Cryptocurrency.
Now See, SafeMoon Price Prediction
Analysts have anyway gone ahead to predict the price of SafeMoon for the next 6 years. It is currently up by almost 5% at the value of $0.0000005105. The rebound is expected to take SafeMoon to the value of $0.000000672 by this year’s March.
Next year may witness a fall to $0.000000622 but it will then rise to $0.000000749 in the following year. According to SafeMoon price prediction, the future token projection for 2025 is estimated to trade with an average price of $0.00000092. The years 2026 and 2028 are predicted to start with the value of $0.000000935 and $0.0000015, respectively.
Remember to deploy your research skills before getting on board with SafeMoon.
Future Of SafeMoon (SAFEMOON)
Analysts claim that the future of SafeMoon is filled with style rather than substance. Everything happening in the present around SafeMoon may ultimately be to simply create hype for it.
The community has drawn a roadmap though. It has said that it intends to create an exchange platform for SafeMoon and launch “Project Pheonix” to fuel the freedom of the unbanked.
SafeMoon still carries a risk and you must stick only to reliable platforms.
One can only be recommended to take every precautionary measure possible. It has hardly been 1 year since SafeMoon was launched. The digital coin is in its early stages, probably attempting to evolve.