Launched in March 2021 and having a circulating supply of more than 5 hundred million, SafeMoon is one of the fastest growing cryptocurrencies. It works with the Binance Smart Chain Block chain or BSC. In the recent times, it has become the talk of the Town since BSC comes with several advanced features which the normal blockchains don’t offer. Coming back to SafeMoon, this crypto has a current market cap valuation of about 4 million USD. And that’s why traders are eager to learn from where to buy SafeMoon crypto in the safest possible way.
Even though for trading in this crypto, one needs to pay a $10 transaction fee, $5 is redirected back to the traders. Moreover, developers manually reduce the token supply for raising its price. This is another key feature which has made SafeMoon quite popular amongst the crypto traders. Since it’s been launched recently in the market, traders can’t find it being listed in the top exchanges. But according to reports, in the coming days, SafeMoon will have its own exchange, wallet, and even application.
As of now, there are only a few ways by which one can buy this crypto. In the below section, we have provided a simple guide for buying SafeMoon and trade with it.
From where to buy SafeMoon crypto?
Since SafeMoon is available on BSC, you can buy the crypto from any exchange platform which runs on Binance. Even though there aren’t many exchanges where SafeMoon has been listed, you will find the crypto on Pancakeswap. It is the first exchange platform on which this crypto was listed. Additionally, Pancakeswap is a leading decentralized exchange platform working on the Binance Smart Chain blockchain.
How to buy SafeMoon crypto currency?
Since now you know from where to buy SafeMoon crypto, let’s find out the way in which you can buy, sell, or trade in this crypto.
Opening an account on Binance
The first thing you need to do is open an account on Pancakeswap Binance platform. To do so hassle-free, follow these steps:
- Visit the official decentralized platform for Pancakeswap.
- If you do not have a Binance account, click on sign in where you will be redirected to a new page.
- Once the sign in page opens up, you need to provide your email ID.
- A password is also needed for future authentication. Do check the rules for making a strong password.
- There can be some extra steps which will depend on your location.
- Once all the details are given, sign in the account.
- You will get a confirmation link in your mail through which you can login.
Having a Binance wallet
Since there is no special wallet for SafeMoon yet, you will have to enable a software wallet. This wallet should be compatible with the BSC. Furthermore, you need to make sure that the wallets have proper authentication system. Metamusk and Trust are the two wallets with which you can trade in SafeMoon.
Initiating and completing the purchase
After you have logged into the Pancakeswap platform, you need to buy Binance coins. As SafeMoon can be bought through cash or Fiat money, you need to trade it. Make sure to buy the Binance coins in the proper amount in proportion of the SafeMoon tokens you want to have. Once you have the coins, you can initiate a trade and after paying the transaction fee, your trade will be completed.
Is it safe to trade in SafeMoon crypto?
Even though SafeMoon has become quite popular in the recent times, there is a lingering security risk. First of all, the tokens are burned manually which leaves room for errors. Secondly, you can only trade with this crypto by swapping it with others. However, the options for the same are limited.
Conclusion
In this article, we have given you the basic knowledge about where to buy SafeMoon crypto. Additionally, we have discussed the trading process on Pancakeswap DEX where the currency is listed as of now. So, all you need to do is get started with the trading as it will take some time to understand how SafeMoon operates.
