Is safemoon (safemoon) a good investment?
Apr 18, 2022 · 8m ago · By Omor Ibne Ehsan Source: Shutterstock Safemoon ( SAFEMOON-USD) was one of the most popular meme coins in early 2021. The company reached an all-time high market capitalization of $5.75...
How do I buy safemoon (SMO)?
Apr 19, 2021 · Source: Shutterstock To start, SafeMoon is relatively new. In fact, the token launched in the first quarter of 2021. It comes from the SafeMoon Protocol, a decentralized finance (DeFi) startup....
What is the maximum supply of safemoon?
Jan 19, 2022 · SafeMoon was one of the newer cryptocurrencies to hit the market in 2021. This crypto project is a community-driven approach to decentralized financial systems. After the initial launch in the first quarter of 2021, there are now more than 2.9 million holders of the currency, according to Utah Business.
How many safemoon coins are there?
Jul 20, 2021 · SafeMoon is a BEP-20 token launched on the Binance Smart Chain (BSC) ecosystem on March 8, 2021. BSC is a centralized finance (CeFi) ecosystem and a competitor to Ethereum’s decentralized finance...
Is SafeMoon stock a good investment?
Safemoon is backed by a strong community, and investing in this token is a good choice. However, you first need to consider all potential risks. For example, like other cryptocurrencies, Safemoon also features high volatility.
Is SafeMoon cryptocurrency safe?
As with all digital currencies, investing in safemoon is HIGH-RISK and should only be considered by investors who: Understand cryptocurrencies.
How do you trade a SafeMoon?
How to Buy SafemoonCreate a wallet. Create a wallet address for the Binance Smart Chain through MetaMask or Trust Wallet.Buy Binance tokens & swap for Safemoon. Buy Binance tokens (BNB), then swap them for Safemoon on a decentralized exchange such as Safemoon Swap or PancakeSwap.Mar 21, 2022
Which cryptocurrency should I invest in 2021?
Bitcoin (BTC) Market cap: $880 billion. ... Ethereum (ETH) Market cap: $415 billion. ... Tether (USDT) Market cap: Over $79 billion. ... Binance Coin (BNB) Market cap: Over $68 billion. ... U.S. Dollar Coin (USDC) Market cap: Over $53 billion. ... Solana (SOL) Market cap: $44.5 billion. ... XRP (XRP) Market cap: $40 billion. ... Cardano (ADA)More items...•Apr 7, 2022
Is SafeMoon a pyramid scheme?
It has been referred to as a Ponzi scheme, a pump and dump, and a pyramid scheme, and the Safemoon community has been compared to a cult. Most types of cryptocurrency are risky investments, but some are much riskier than others.Jul 10, 2021
Is SafeMoon on Robinhood?
It's also not available on apps like Robinhood or SoFi Invest. To buy SafeMoon, use SafeMoon's proprietary SafeMoon Swap to trade other crypto, like Binance Coin (BNB) for SafeMoon tokens. A few other crypto exchanges support trading in SafeMoon.Mar 4, 2022
Can I buy SafeMoon with Bitcoin?
eToro – Overall Best Crypto Trading Platform Then, you will be able to transfer your cryptocurrency, such as Bitcoin, into a cryptocurrency compatible with it, which will be Binance Coin (BNB). You can then use the SafeMoon swap to convert your BNB into SFM for a small fee.Mar 18, 2022
Will SafeMoon become a coin?
Safemoon Price Forecast 2022 Most investors see Safemoon as a meme coin and nothing more! This means that the asset's prospects look a bit bleak and will most likely remain that way until the broader market picks up again.Feb 23, 2022
How does Safemoon work?
Safemoon is a cryptocurrency, which are digital currencies that exist solely online and hope to be used as a medium of exchange. Like more popular cryptocurrencies such as Bitcoin and Ethereum, Safemoon is powered by distributed ledger technology such as blockchain.
Risks to consider
Like all cryptocurrencies, Safemoon is an extremely speculative asset with no intrinsic value. You should be prepared for the possibility of losing your entire investment if you choose to purchase Safemoon. Here are some other risks to consider.
Bottom line
Safemoon is a cryptocurrency that was designed to encourage long-term investment and discourage selling, but it’s an extremely volatile asset that comes with a number of other risks too.
What is SafeMoon 2021?
By James Archer May 20, 2021. SafeMoon is one of the newest and fastest-growing cryptocurrencies. Here's what you need to know about it. (Image credit: Shutterstock) Editor's note.
What is SafeMoon's slogan?
SafeMoon could also be seen as a more serious take on Dogecoin, the tongue-in-cheek altcoin with an unofficial rallying cry of “To the moon” — SafeMoon’s slogan is “Safely to the Moon. ”.
Who is the CEO of Safemon?
SafeMoon's CEO John Karony and COO Jack Haines have revealed plans to use Minecraft as a platform to test possible new features. The pair also announced that they were working with Simplex, a platform that enables users to purchase cryptocurrency using a credit or debit card.
Is it risky to invest in crypto?
Just remember that using cryptocurrencies as investments is risky at the best of times — they're usually far more volatile than traditional stocks and the market is, at present, unregulated, In the end, it’s your own money on the line — so we'd suggest never investing more than you can afford to lose.
What is SafeMoon protocol?
It comes from the SafeMoon Protocol, a decentralized finance (DeFi) startup. Essentially, SafeMoon wants to help crypto bulls get to the moon, just in a safer fashion. To do this, it says it builds in rewards for people who hold their tokens for a longer time. Those who sell also face a penalty.
Is SafeMoon an NFT exchange?
In the coming months, it says it plans to develop an NFT exchange, integrate SafeMoon with video games, push into Africa, launch an educational app and complete its own SafeMoon exchange. SafeMoon has already raised $700,000 of the $1 million it says it needs to launch its exchange. Plus, SafeMoon founders say two new exchange listings are coming.
What is safemon 2021?
What Is SafeMoon? SafeMoon is one of the latest cryptocurrencies to hit the market in 2021. This crypto project is a community-driven approach to decentralized financial systems. After the initial launch in the first quarter of 2021, there are now more than 2.3 million holders of the currency.
Does SafeMoon use manual burns?
However, SafeMoon employs manual burns instead of continuous burns. The argument is that this process can implement a beneficial burn strategy for long-term investors. It also allows the burns to be announced and tracked publicly, leading to increased transparency.
Is SafeMoon a good investment?
Given that SafeMoon doesn’t do anything and the only future expectation of profits is that more people will continue to buy, it doesn’t seem like a good investment. In early 2021, the price skyrocketed over 1,500%, then dropped again by 73%. At this point, it would seem like a gamble to invest in SafeMoon.
Is the crypto token pump and dump?
The hype and frenzy over crypto in social media are adding fuel to the fire. Some analysts even go so far as to say they believe it is a pump-and-dump scheme.
What is SafeMoon token?
Fast Facts. SafeMoon is a BEP-20 token launched on the Binance Smart Chain (BSC) ecosystem on March 8, 2021. SafeMoon is built to have three core components: The first is the " reflection" where SafeMoon transactions are charged a fee that gets distributed among holders of the token. The second is a fee charged on transactions ...
Who is SafeMoon's web developer?
SafeMoon's web developer, Jacob Smith, apparently worked for this game development company as well. On Jacob Smith' s LinkedIn he states that he "Worked as the lead website developer working on several of their projects. Work is on hold atm due to the lack thereof.".
Is SafeMoon a proof of authority?
The creators of SafeMoon do not seem to have any proven track record in the field. SafeMoon is built on the Binance Smart Chain which uses proof-of-authority as its consensus mechanism. In proof of authority, the block creators are known as validators.
Is SafeMoon a decentralized token?
As mentioned, SafeMoon is a BEP-20 token issued on the Binance Smart Chain. The creator of Binance, Changpeng Zhao, has admitted that BSC is not decentralized. In a since-deleted tweet , Zhao called BSC "CeDeFi," which is short for centralized DeFi and a bit of an oxymoron.
How many Safemoon tokens are there?
Safemoon's developers also manually burn tokens regularly. They've burned over 400 trillion already, and there are now under 600 trillion Safemoon tokens in circulation. The logic behind burning tokens is that a smaller supply should, theoretically, increase the price.
What is the furthest thing from safe?
Safemoon is the furthest thing from safe. The design of Safemoon is intended to encourage holding onto it and to drive the price up. There's one thing we haven't gone over, which is what Safemoon actually does. And that's one of the biggest problems. Safemoon doesn't do anything.
Is Safemoon a safe investment?
And even though the manual burns are supposed to increase the price, that hasn't happened. Safemoon definitely isn't a safe investment, and it probably won't go to the moon, either.
Safemoon Review (About Safe Moon Token)
The SafeMoon Protocol is a community-driven, fair-launched Defi Token. Three simple functions occur during each trade: Reflection, LP Acquisition, & Burn.
Is Safemoon Legit? (Is Safemoon A Good Investment?)
Short-term gains are frequently looked down upon by both analysts and professional traders alike, but while it may present some problems for the digital public, it can be said that crypto is designed to be decentralized, meaning those who own it are the ones in charge.
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Hi, I'm Oladimeji Abubakar, a young Nigerian blogger and writer. I've special interest in making money online just like many other people and this is why I chose the review niche where I'd get to show people the websites to join and the ones not to. I hope my reviews helps😀.
