SafeMoon Crypto – Is it Really Worth the Risk?
Ah, crypto. The new talk of the town everybody is excited about.
Feeling a bit of FOMO when you do not know about its intricacies? Don’t worry, we got you!
What is SafeMoon Crypto?
SafeMoon Crypto is a cryptocurrency launched in March 2021 by Binance Smart chain using blockchain technology.
It was the most hyped-up and popular cryptocurrency in 2021. A blockchain is a peer-to-peer network that keeps a public ledger that maintains information about every financial exchange.
As per the SafeMoon website, John Karoly, a former analyst for the US Department of Defense, is the CEO of SafeMoon.
This was a fair launch token that was driven by the community and listed as BEP-20 tokens on the Binance Smart Chain (BSC) network.
Do you know what drove up the value of SafeMoon?
The engagement of the influencers and celebrities like rapper Lil Yachty, Youtuber Keemstar, sports blogger David Portnoy, Boxer and Social media personality Jake Paul, social media puffs, and the Reddit campaigns has shot up the value of SafeMoon like frenzy!
The initial excitement attracted more than 2.9 million traders and a high circulating supply. However, the SafeMoon price has fallen dramatically within a year.
When SafeMoon launched, it had a peak market cap of $0.003145, and its current price is falling by 4.72%.
3 Functions of SafeMoon Crypto
Now that we are done with the background check of SafeMoon, let us know about its 3 functions.
SafeMoon protocol has three functions. Its creators put out the uniqueness from other tokens and take place with each trade.
Reflection is static rewards or static farming. A 10 percent transaction fee is applied each time someone sells SafeMoon.
It’s called a “reflection” since 5% of the cost is shared by all SafeMoon holders. The remaining 5% goes to liquidity pools, making it easier to buy and sell SafeMoon using distributed ledger technology.
Several SafeMoon investors have praised this functionality. This strategy addresses volatility issues by encouraging investors to keep their tokens.
2. LP Acquisition
Liquidity provider Acquisition is the second function, whereby half of 5% goes to other cryptocurrency exchanges and the remaining half to BNB.
This feature was to guarantee liquidity and long-term stability. Both buyers and sellers benefit from a stable price floor, and it can thus avoid more significant drops if giants decide to sell their tokens later.
3. Token Burn
Burning is a strategy adopted by most cryptocurrencies, it permanently removes the token from circulation.
Based on the supply and demand method, there will be a scarcity of tokens, and so does the value.
The team manages the token burn and promotes it depending on achievements, which helps to keep the community rewarded and informed.
The manual burn conditions and amounts can be tracked on the SafeMoon website. So far, there is a 40% burn on the total supply of coins.
Journey of SafeMoon Crypto
Being a relatively new cryptocurrency, SafeMoon’s roadmap is pretty short.
Six developers developed the idea and launched it on March 8th, 2021. The proposed Operation Phoenix initiative in the Gambia was revealed by SafeMoon Crypto in May 2021.
The V1 version of the coin was reviewed by the security auditing firm CertiK in May 2021. It was discovered that the project’s owners have authority over tokens supported by SafeMoon’s seller fee, which is a serious concern. Image by Gerd Altmann from Pixabay,
The app was released in September 2021 on Google Play and the App Store in October 2021.
SafeMoon V2, an updated version, launched in December 2021. In Early January 2022, SafeMoon Crypto officially launched its “Naughty Naut” NFT product.
Again in January 2022, a wind turbine innovation revealed in Africa has been updated under operation phoenix.
How to Buy SafeMoon?
You will not find SafeMoon listed on any exchanges that accept fiat currency, and the purchases of SafeMoon can be paid only with other cryptocurrencies.
Fiat currency is government-issued money like dollars. And so, to buy SafeMoon Crypto, you need to download a wallet app named SafeMoon Swap and purchase BNB.
Once it is complete, swap to SafeMoon tokens. SafeMoon can also be bought at PancakeSwap and Bitmart.
PancakeSwap gives you 100% control over your crypto. It is a decentralized exchange and allows you to trade directly from your wallet.
But, you are solely responsible for the safety and security of your wallet, and the benefits that other crypto exchanges offer might not be available.
In PancakeSwap, you have to buy BNB first, convert to a smart chain and then swap it for SafeMoon.
The trading platform BitMart is far more well-known and has branches all around the world. It prioritizes trust and access, and they support spot and advanced trading services.
The buying process is the same as PancakeSwap: buy Binance and swap to SafeMoon Crypto.
Is SafeMoon a Good Investment?
Now now, as we all know, crypto is subject to market risk, so please don’t come after to sue us if you face a regrettable loss.
Let’s spill this out to you straight – SafeMoon is regarded as one of the risky cryptocurrency investments because of its high volatility and drastic price swings, as per financial advisors and experts.
The sizeable transaction fee does not allow frequent trading using these tokens, which has reduced the liquidity for token holders.
Some SafeMoon investors have started to allege it as a “Ponzi Scheme,” mainly because of the reflection feature where a part of the fee goes back to earlier investors.
Ponzi Scheme – A Lawsuit File against SafeMoon!
A Ponzi Scheme is a sham whereby the existing investors lure in new investors and make a profit from their investment.
A class-action lawsuit was filed against SafeMoon’s celebrity and social media boosters as the acquisition failed.
In this case, SafeMoon’s development team has been unable to meet the development targets outlined in its roadmap, such as creating a crypto exchange.
These charges have been dismissed by SafeMoon Team. Crypto wants to coordinate charitable initiatives and educational programs. In addition to having its decentralized exchange, it also intends to create non-fungible token (NFT) exchanges.
SafeMoon intends to innovate in the commerce and metaverse and add value to the blockchain.
The steps involved in reaching these goals, however, seem vague. This community-driven, decentralized finance digital asset aims for long-term investment.
The liquidity of this investment will be pretty low, and the investment will be at your own risk.
Does SafeMoon have a Future?
The inventors desired a coin to guarantee “safe” earnings and a sustainable alternative to other cryptocurrencies. It was designed to encourage long-term investment.
Though the roadmaps and new projects promise a shining future, its value seems to be solely derived from other investors buying in.
The general information provided is kind of theoretical. There are no actual steps given on how this will be achieved and how exactly they will benefit the financial situation of the existing investors.
Moreover, Binance smart chain is now rebranded as the BNB chain, and the SafeMoon token is no longer in it.
The core analysts and employees of SafeMoon Crypto have left the business. There is no sign of real-time practical applications of these crypto tokens or digital coins as per expert advice.
What is the Value of SafeMoon Crypto?
Want to invest in SafeMoon Crypto and don’t know its value yet? Then you must focus more on learning investment decisions.
For it is critical to review a cryptocurrency’s prior performance before determining whether or not to invest in it. That’s primarily done to help you understand how the token works.
The current SafeMoon price is $0.000000006687, with a market cap of 3,757,795 USD and a circulating supply of 561,994.72 B.
To check SafeMoon’s price live, visit this page.
SafeMoon V2: What is it?
SafeMoon V2 is an updated version of SafeMoon Crypto. SafeMoon V2 has influenced changes in three main features of V1, transaction fees, tokens value, and revenue.
Some exchanges lacked the resources required to enable SafeMoon holders to participate in the 5% reflection. SafeMoon V2 will make it easier for SafeMoon holders to collect their reflection share.
The original SafeMoon tokens do not automatically get transferred into SafeMoon V2, and one has to manually transfer these from the crypto wallet to the V2 Platform. Switching your assets to V2 is a straightforward process.
Users of SafeMoon Wallet can simply update to the most recent program version and follow the consolidation instructions from their account.
Users with other crypto wallets should visit the SafeMoon Swap website to consolidate. Token holders that are part of the exchange need not think about it, and the exchange will handle the migration and inform you when the transfer is complete.
SafeMoon V2 has four functions. Of the 10%, 4% is a reflection of existing token holders, 3% to LP Acquisition acting as liquidity, 2% of the tokens are burned, and the last 1% is added to an Ecosystem Growth fund. Unlike V1, the tokens burned in V2 are automatic, not manual.
SafeMoon was designed to follow an auto liquidity-generating protocol. The accuracy of the initial goals and trade volume has taken a nosedive to the lower end.
At the time, high expectations and the social media meme trend allured investors to risk investment. Its shift in business from cryptocurrency to investable commodities has raised the eyebrows of many.
However, investing in SafeMoon Crypto is a personal choice if you like helping out startups or investing with the risk involved and knowing that gains and losses are typical for any investment.
SafeMoon does have the potential to go viral, and if that happens, the feature reflection will benefit the investor.
With new members in leadership, luck might change with innovation. Investing only in what you can bear to lose is the best strategy.
- What is predicted about SafeMoon Currency in 2025?
According to the SafeMoon Crypto prediction, the value of its future token will be traded with a price of $0.0000044 (on average), and in 2025 the coin can further rise to $0.0000050.
2. What will be the price of SafeMoon Crypto in 2023?
In 2023, SafeMoon will reach $0.007 per coin.
3. From where can I buy SafeMoon?
You can buy SafeMoon from – BitMart, Gate.io, MEXC, LBank and WhiteBIT.
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