SafeMoon: What is it?

SafeMoon is a cryptocurrency designed to bring stability and utility – not only serving as an asset that holds its value, but also as an efficient means of exchange. In this article you will discover what SafeMoon stands for, how it works in the ever-expanding crypto galaxy!

In March of 2021, SafeMoon was unleashed on the Binance Smart Chain blockchain and straight away saw its value skyrocket by a staggering 1,200% after receiving support from stars like Nick Carter and Lil’ Yachty. It offers users the chance to experience capital growth while incurring an exit fee every time they sell their tokens; making it ideal for those wanting long-term returns or wishing to use crypto currency frequently.

The revolutionary SafeMoon V2 was released in December 2021, offering users an incredible 1000:1 exchange ratio with zero loss of value. By exchanging 1000 tokens from the original version for one token on the updated contract, you can enjoy equal net worth at no cost! This new iteration is also more secure and allows developers to execute updates quickly due to its superior degree of control.

Discerningly, SafeMoon stands out from other tokens and coins due to its imposing exit fee charged to sellers when they decide to part with their token holdings. An additional 10% is calculated on top of the already existing transaction fees – a truly unique feature that sets this currency apart from others.

Ten percent of all transaction fees are allocated as follows: four per cent goes to token holders, three per cent is added to a liquidity pool, two per cent is burned (removed from circulation), and one percent contributes to the SafeMoon Ecosystem Growth Fund. This fund has been established with the purpose of financing further development and enhancement for SafeMoon.

To discourage abrupt selling and shield SafeMoon from unscrupulous actors who might dump a lot of tokens to bring down its value, an exit fee has been installed. Additionally, redistributing part of the exit cost back to token holders encourages them to keep their coins for longer periods.

SafeMoon is a relatively new cryptocurrency, and its price has been volatile since its launch due to external events like celebrity endorsements. Since it is a relatively new token, it is not available on some of the top Australian cryptocurrency exchanges like SwyftX and CoinSpot. However, it’s possible to purchase SafeMoon using the SafeMoon Wallet, which is SafeMoon’s own crypto transaction and storage service. 

Cryptocurrencies often display extreme volatility, giving rise to overnight millionaires while also wiping away people’s wealth in a matter of hours. When compared to other cryptos like Bitcoin, SafeMoon has been known to be even more unpredictable and unstable.

Despite the immense support and rapid growth of SafeMoon, it remains a new, largely untested currency with an unpredictable price. For that reason, if you are looking to invest in this (or any other) cryptocurrency asset, make sure you don’t exceed what you can afford to lose should prices plunge due to volatility. Alternatively, consider talking to a financial advisor to help construct your portfolio in order for your wealth-building journey be fruitful and safe.

Our aim from this article was to help you understand how SafeMoon works and if it can be beneficial for you to invest in. Don’t forget to check out our other helpful crypto articles to gain more knowledge on cryptocurrency. Finally, don’t forget that cryptos are highly volatile so exercise caution when considering investing in them. Good luck!

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