What Is Safemoon and How to Exchange SAFEMOON on Swapzone?
The launch of new cryptocurrencies is increasing with every passing day, as many cryptocurrencies are yet in their trial phase. Some become huge successes while others prove to be epic failures over time. The popularity of cryptocurrencies is due to their volatility which is creating a spur in the finance market. Of the many cryptocurrencies, some are often talked about a lot, whereas, some are just lost in the mix. Safemoon crypto is one of those which gained a lot of popularity in a comparatively short period of time. Safemoon coin took the crypto world by storm this year as soon after its launch it rewarded its early investors with returns of over 20,000%. Although due to an overall bearish season like many other cryptocurrencies it suffered a blow which was no less than 70%, investors still look forward to it and find it to be an exciting project for the future.
All those who are interested in Safemoon need to select the right Safemoon exchange and know the right price of Safemoon to take an entry. Many well-known crypto exchanges do not support Safemoon but various other safer options like Swapzone are available. Swapzone offers competitive rates and trusted exchange options to enjoy the best swapping experience.
What is Safemoon?
Safemoon is a cryptocurrency project launched in March this year. The project aims at introducing a cryptocurrency that will escape the swings commonly seen in the crypto market like Bitcoin, Ethereum, Dogecoin, etc. Therefore, it discourages day trading and is more focused on incentivizing its hodlers. About two million people have already bought the currency during this short 3 to 4 months period. Its value has also risen to 202%.
The project promises to benefit its holders anytime soon. Safemoon is the abbreviation of the longer term “safety to the moon”. According to some sources, the coin has a market cap of about $2.5 billion while others say it is $4.1 billion which shows that it possesses a great potential to perform in the future. Also, the taxes that are collected on each Safemoon token are distributed equally among the holders.
Safemoon differs from the other traditional cryptocurrencies. First of all, it is aimed at addressing the price volatility that we see in other cryptocurrencies. Secondly, the project believes in manual burns rather than continuous. In manual burns, the coins are purposefully removed from circulation. This gives the currency better control over the supply and value. The coin is handled by an experienced team whose major goal is to do something out of the box.
Key features of Safemoon coin
Safemoon coin is launched by diverting the attention of traders towards the benefits of holding an asset and in return managing the price swings. The key features of the project are discussed below:
- It is completely dependent on its community
Safemoon is a community-driven token. The creators believe in strengthening the community to increase the coin’s worth and value in the market. To maintain fair play the developers and the team burned their tokens and participated with everyone else.
- The automatic Liquidity pool system
The project has designed an automatic liquidity pool system so that every trade that happens on the network contributes automatically to the liquidity pools used by various exchanges.
- Static reflection system
The creators have added a feature of static reflection. They earn passive income by contributing to the pools and account balance increases.
- Sellers have to pay 10% tax
One unique feature of Safemoon is that the sellers have to pay 10% tax when they sell Safemoon. It is done to encourage the holding of the coin over trading it. Half of this tax is distributed to the owners of the coin and the other half goes to the liquidity pools.
- The tokens are burned manually
Another feature of the project is that the coins are burnt manually which means that the Safemoon team will burn the coin manually to increase its price.
Safemoon protocol revolves around a combination of RFI tokenomics and auto liquidity generating pool. The plan is to generate a non-fungible token. The roadmaps explain that creators have some charity projects associated with the coins’ mass adoption. The protocol also includes crypto educational apps which are centered around the mass adoption of cryptocurrency. According to the Safemoon protocol, the holders will earn passive income based on the scale of their holdings. The holders can generate up to 80% of annual profit per year.
The coin-burning strategy of Safemoon sets it apart from other coins and therefore it is expected to rise as a deflationary cryptocurrency. When fully expanded, the Safemoon protocol will allow users to create their own cryptocurrencies through the launch of NFTs. Furthermore, the protocol includes the formation of a native decentralized exchange.
Why is Swapzone the best place to exchange Safemoon?
It is no surprise that not many exchanges list Safemoon as it is new and is yet to fulfil its listing criteria. Swapzone, on the other hand, provides multiple exchange options with the best transaction speed and transaction rates to its users. As an exchange aggregator, it brings many exchanges together on a single platform so you can select an exchange that suits you best.
In short, where many other renowned exchanges have not listed Safemoon yet, Swapzone provides you with multiple options to select from. On Swapzone you get all the required information to make the right decision about when to buy and where to buy.
How to exchange Safemoon on Swapzone?
If you’re interested in getting Safemoon at ease, Swapzone can help you with that. Follow this step-by-step guide and become a Safemoon holder:
- Go to the Swapzone website.
- Select the currency you want to swap in the field “Send” and Safemoon in the field “Get up to”.
- Input the amount of currency you want to exchange for SAFEMOON. Swapzone will now bring you the best rates from various exchanges offering the desired pairing and show the amount of Safemoon you are getting for your crypto.
- Click on the exchange button, which will ask you to provide the address you want your newly purchased Safemoon sent to. There is also space for a refund address.
- Click on the “proceed the exchange” button. Swapzone will also show you the review of the exchange site you choose to buy from.
- Wait for the deposit to be processed by the exchange service and the exchange to be done.
- Don’t forget to rate the exchange partner and leave a review, so we can gather more information on the exchanges for future users.
As you can see, emerging cryptos are setting the trend for community management and social engagement. Safemoon is no exception. Nevertheless, its community is extraordinary in terms of building on word-of-mouth marketing and contributing to corporate branding which is widely spread throughout social media. Even though at the beginning, when SAFEMOON just launched, there was a lot of buzz around the topic “Is Safemoon legit?”/”Is Safemoon a scam?”, at the moment, the coin remains in the market, keeps getting attention and endorses new hodlers.