However, investors should know that the controversy is certainly bubbling on Wall Street. Right now it is unclear whether the SafeMoon crypto is a scam. It launched in March 2021 and has already racked up over 1 million. In selling shares of SafeMoon, the user, as well as other SafeMoon sellers, are reporting losses of over 50% upon withdrawals of the coin. SafeMoon is an altcoin: a blockchain-based digital currency broadly similar to Bitcoin, but with some clear distinctions as well. They are saying that the punishment for selling the coin is severe and serves only to line to pockets of developers. He doubled down on the critique and hearkened back to Bitconnect, a famous crypto scam.Īnother SafeMoon investor is reporting unfair practices by the crypto as well. Crypto influencer Lark Davis is going so far as to call the crypto a Ponzi scheme via Twitter. Other SafeMoon owners and insiders are coming out against the coin now as well. They allege that the SafeMoon owner possesses over 50% of the coin’s total liquidity. And now, insiders are warning investors against joining the SafeMoon community.Ī crypto scam fighter on Twitter bearing the name WarOnRugs is campaigning hard against the token, which now has over 1 million users. It seems users are getting fed up with the inclusion of unrelated content during AMA sessions. As with any investment, you should assess your risk tolerance and act accordingly.Insiders Call SafeMoon Crypto a Scam in Wake of AMAĪs SafeMoon acknowledged on its social media platforms, its latest AMA missed the mark. Keep in mind that SafeMoon is still in its infancy, so while some are optimistic that it’s the next Dogecoin, others are skeptical - it’s just too early to tell whether SafeMoon is headed for greatness or ruin. Voila! You should see your SafeMoon tokens in the TrustWallet app. Under “Contract Address,” paste SafeMoon's Contract Address. Tap on “Add Custom Token.” Change the network from Ethereum to Smart Chain. Click the blue icon on the top-right corner and scroll to the bottom.Ĥ. Navigate back to TrustWallet’s main page. Exit PancakeSwap.Īt this point, you're probably wondering, "Okay great, 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.ġ. Click on “View on BscScan.” The status bar should say “Success,” proving you successfully converted Smart Chain into SafeMoon. Tap “Swap” and “Confirm Swap.” This will prompt a “Transaction submitted” message to pop up.Ĩ. Tap on the icon next to the time symbol on the top-right corner, and as requested by PancakeSwap, set your slippage tolerance to 12%. How to buy SafeMoon (Image credit: Six Days LLC)Ħ. Open the app and tap “Create a new wallet.” With a circulating supply of 560 Billion SFM, SafeMoon is valued at a market cap of 87,199,342. This represents a 3.31 price increase in the last 24 hours and a 0.59 price increase in the past 7 days. Trade SafeMoon SafeMoon is only available through Coinbase Wallet. The price of SafeMoon (SFM) is 0.00015758 today with a 24-hour trading volume of 1,208,259.68. Download the Trust: Crypto & Bitcoin Wallet app from the app store (on iOS and Android).Ģ. SafeMoon is not available for trading on the Coinbase Exchange, but can be custodied on Coinbase Wallet Price 0.0000000050 Buy SafeMoon with Coinbase Wallet SafeMoon can be traded using Coinbase Wallet, your key to the world of crypto. lots of naysayers and FUD comments on this post likely because they missed the. couple that with the extreme press coverage as well as numerous large brokers accepting it as well as safemoon itself making its own exhange, its going to explode even more. For this guide, I’ll be using PancakeSwap as the primary exchange for SafeMoon.Ĭonvert BNB to Smart Chain via Trust Walletġ. whats there to understand its a deflationary token and the supply is decreasing by the hour. Cryptocurrency investing is fraught with risk and volatility, yet crypto has produced top returns for investors over time. Purchasing SafeMoon isn’t the most straightforward process, but with these easy-to-follow, step-by-step instructions, you’ll have your tokens in no time. If you invested $1,600 into SafeMoon on March 22, you’d have a whopping $60,000 a month later. Two days later, SafeMoon skyrocketed to an all-time high of $0.00014 - an increase of nearly 7,000%. 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 one buys SafeMoon, investors will receive 5% of zilch and the low demand will cause the price to plummet.Īccording to CoinMarketCap, SafeMoon was trading at around $0.000002 on April 18. SafeMoon was created to address several problems plaguing cryptocurrencies today, including price volatility and crypto investors’ bad habit of premature selling hence the 10% selling fee. Before you buy the trending token, you must know that SafeMoon penalizes sellers with a 10% fee, and redistributes half to other token holders to incentivize buying and holding.
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