The cryptocurrency industry is growing and maturing at an incredible pace. Thinking that, in 2018 the number of cryptocurrencies worldwide was a little more than 1,500 (March 2018) and now is more than 10,000 (February 2022), we can immediately confirm that this is a phenomenon no longer confined to a small group of people. One of the latest trends in the cryptocurrency world is definitely the so-called Decentralized Finance (DeFi) which aims to bring innovation to traditional finance, eliminating the need to depend on an intermediary.
The SafeMoon Protocol comes from this ideal. The protocol’s token, SAFEMOON, was launched on March 8th 2021 and its developers are keen to promote the ‘buy and hold’ philosophy by penalizing sellers and incentivizing holders. Should it succeed in growing in popularity, then it is likely to be listed on many crypto exchanges that will probably push SAFEMOON price to go up (so far only a few have introduced it). SafeMoon Protocol should gain value over time also because of its coin-burning strategy making it a deflationary currency.
Where Can Crypto Investors Buy SafeMoon for Now? (H2)
If you already have a wallet on the Binance Smart Chain, you can buy Safemoon by exchanging it for other tokens in your wallet on a decentralized exchange (DEX) called Safemoon Swap. This process can be a bit too difficult for beginners, as well as the second method that we will explain below.
PancakeSwap is a decentralized exchange (DEX) for swapping BEP20 tokens on Binance Smart Chain. There is a swap pair SFM/WBNB, that means users should be able to have the wrapped version of BNB in their wallet in order to be able to obtain SFM. If the first method was a little difficult, this is a bit more.
The easiest thing to do if you want to invest in SafeMoon is definitely to open an account on a centralized crypto exchange. Make sure you choose a safe and reliable one that allows you to deposit fiat currencies in order to buy your favorite coins. https://www.gate.io/ exchange offers the possibility to buy SafeMoon by using the stablecoin USDT. Gate.io has always been a point of reference for crypto traders, as it is one of the most durable in the industry and also one of the most secure and reliable. It also allows you to hold your coins in your account or, if you want, transfer them elsewhere. When other major exchanges still don’t have SFM on their list of cryptocurrencies, Gate.io decided to give the crypto community a chance to support the SafeMoon project.
Should Investors Buy Safemoon?
Everyone should make their own decisions based on the research they do. It’s wrong to invest in something you don’t know, relying primarily on what people say on the web. Regarding SafeMoon, we have to say that, for now, it is not likely to have as much long-term underlying value. Plus, we have already seen a drastic plunge in its value. If SafeMoon is going to succeed, it needs to achieve some functionality beyond simply being a tool for speculators. Lastly, its community, even if it is large, alone may not support SafeMoon’s current value.