Everyone in the crypto world is always looking to invest in the big next thing. Being an early investor on the big next thing is a great way to ensure a profit, after all!
However, sometimes you need to find a middle ground between safe projects and hidden gems. This is when projects like SafeMoon get on your radar. This warrants the question… How do you quickly and easily buy a cryptocurrency that is still not mainstream?
Well, in the case of SafeMoon, the currency has already been picked by a popular crypto exchange: Bitmart. Let’s look at how to buy SafeMoon on Bitmart!
What Is SafeMoon?
Maybe you have heard about it from your favorite influencers, as some famous names have already gotten involved with this token. These would include Afrojack, Lil Yachty, KEEMSTAR, and Jake Paul.
SafeMoon is a tech company that recently launched its cryptocurrency (SAFEMOON) back in March and has kept getting viral since then. The coin is still a baby crypto if you compare it to BTC that has a market value of 1 trillion dollars, or ETH, with a market cap of 500 billion dollars, you can draw your conclusions.
However, SafeMoon has become popular over the past months, almost reaching the top 100 by market capitalization. This brings the currency into the sweet spot between hidden gems and top projects. With a market cap fluctuating between 1 and 2 billion dollars, there is a lot of potential here.
What Makes SafeMoon Special?
But the question is: why does this coin keep getting hyped, and what makes it different? Well, the whole publicly stated goal of SafeMoon founders could be encouraging. The company’s objective is to create a less volatile cryptocurrency and take its users to the moon.
Yeah, you read right, to the moon. This means lands of prosperity and stacks of cash from those holding this crypto. Who wouldn’t want that, right?
How they aim to reach this is both by discouraging day trading and incentivizing long-term holdings. This is achieved by charging a 10% fee on sales transactions, making traders think twice about selling.
On the other hand, 5% is added to a liquidity pool to support price stability. The other 5% is given to those buyers who know that the trip to the moon may take a while.
If we talk from an unbiased perspective, we can see two sides here – those who defend SafeMoon and those who strongly criticize it. The first ones will tell you that the project is different from all others, and the tax on sales is completely warranted due to the reward for holding.
According to them, in the end, you can make more money if you support the project in the long term.
On the other hand, many people punch hard at SafeMoon, calling it a Ponzi scheme. They consider that 10% tax as a redistribution plan to take money from the new investors and cycle it back to old ones.
Here at TurboWallet, we don’t see much difference between SafeMoon and other cryptocurrency projects that provide rewards for long-term holding. While the selling fee is certainly higher than other projects, no recruiting or strings are attached to the rewards.
That being said, SafeMoon is a project that relies a lot on its community and popularity. As such, make sure to consider this factor when investing in it!
Now that we know what SafeMoon is, we can talk a bit about the team.
The Team Behind The Curtains
A project can have all the right ideas, a great use case, and great community support. However, if the team is sketchy, you can be sure that can negatively impact the project. As such, you always need to check the team is who they claim to be.
This can be done by looking at their credentials. Most legit projects will have these somewhere easily available to be checked. Social platforms like Linkedin, Discord or Twitter are a favorite among many.
One thing we can be sure of is that SafeMoon’s team is public and well-known. Their CBO, Thomas Smith, is a software engineer involved in lots of IoT and blockchain projects. He was CTO of many other companies and also was the founder of “T A N O”. His LinkedIn can be easily reached, which ensures he is legit.
Regarding other important team members, we could find their CEO John Karony. He was a former All-Source Analyst for the Department of Defense before founding SafeMoon. He can also be reached over discord and Twitter.
There are also 4 more members, reaching 6 in total. These are the following, and they all can be found on Twitter, Reddit, and Discord.
- Charles Karony (Executive Assistant)
- Ryan Arriaga (Global Head Of Products)
- David. B Smith (Director Of Content)
- Tony Costanzo (Mooncraft Lead)
Alright, so we can be sure about SafeMoon’s team transparency. That’s a good thing. Now, let’s go through all the features this project has to offer you and its investors!
What Features Does SafeMoon Offer?
SafeMoon software wallet was launched in August 2021. If you have an android phone, you can go to the Play Store and install it now. For iOS phones, you can go to the App Store and do the same.
If you create a new wallet, you will have to go through a security stage. Once you’ve done that, you are inside the wallet. There, you can do many things like:
- See currencies candle/wicks graphics and watch detailed information on how prices fluctuated over time
- Send tokens to different wallets
- Receive tokens
- Buy tokens
You can buy SafeMoon if you swap USD for ETH and then trade it. You can also pay with a credit/debit card or apple pay for fiat currency. However, you will be paying some high fees. This is because of the ETH exchange rate. You will be getting a transaction fee that goes over 10%, plus another network fee that varies.
The main difference between this wallet and the software wallet is that the latter is connected to the internet. As such, hardware wallets are considered more secure storage than software wallets.
Now, SafeMoon has its hardware wallet. As we said before, this is meant to store your crypto in a much safer way than in a software wallet. It is a separate physical device that allows you to save your crypto with private keys that you must not lose.
If you do, your money could be gone, which is why you should be careful with where you save your keys.
SafeMoon Exchange (Coming Soon)
There have been some updates about an upcoming SafeMoon exchange. The SafeMoon team has finally filed for the name “SafeMoon exchange”, trademarked in the U.S. and the E.U. This suggests that we are on course for the release of the SafeMoon exchange. Maybe in December or at the beginning of next year.
So, what’s this exchange going to look like? SafeMoon and Bibipom’s recent partnership may indicate that the exchange will overhaul the current Bibipom website, and Bibipom’s CEO Alessandro Brunello already hinted at this.
In April, Brunello spoke about a possible collaborative effort between SafeMoon and Bibipom in developing and launching the exchange. He also released a series of cryptic updates that suggested that this was happening. However, we haven’t heard from Bibipom in a while, so not much is known about the progress here.
Additionally, a theory suggests SafeMoon will build the exchange on top of the SafeMoon wallet. Just like Binance did, and this may be why the devs decided not to add the word “wallet” to the wallet’s title in the Play Store.
Again, mostly speculation. Nothing is certain yet, and the only certain thing is that the exchange will bring tokenomics to every crypto on its platform.
SafeMoon V2 (Coming Soon)
First, we explained V1 SafeMoon token consolidation and why it is so important for V2.
The V1 token has these fees attached to it:
- Buy (10%)
- Sell (10%)
- Wallet To wallet (10%)
The V1 token also has a supply of 1 quadrillion. That’s a one with fifteen zeros after it, and it doesn’t look sustainable in the long term.
The V2 token has different fees attached to it:
- Buy (10%)
- Sell (10%)
- Wallet to wallet (2%)
The buy and sell fees are kept. However, the wallet-to-wallet fee was heavily decreased to help out with the commerce of the tokens. In this way, businesses would want to accept it, and people would also want to purchase things with SafeMoon.
The token numbers will also decrease. V2 token is pretended to have a total supply of 1 trillion. We are getting rid of 3 zeros compared to the V1 SafeMoon token.
Don’t worry, you won’t lose money because of this change. Yes, you will have fewer tokens, but these will change accordingly.
Should You Buy SafeMoon?
If we look at the price of SafeMoon at the time of writing this article, we can see interesting movements. With all the news of V2 and the exchange coming, we started to see how the token is slowly being legitimized.
It might be just a matter of time until this asset goes to “the moon”.
The current market cap is sitting at 1.84 million, volume is under 10 million, and we see the price at $0.000003144. After the consolidation of V2 (SafeMoon’s second protocol contract version), new investors will surely grow, especially institutional ones who will legitimize the token.
Is It a Good Investment?
So, is SafeMoon still a good investment? That depends on several things and whether you fall into one of these factors. First, as we said before, SafeMoon is still pretty young as it was launched in March 2021, which is 8 months ago.
This means that many things could go right or wrong. That being said, the project seems to be looking to become more technical, which is great news.
It’s early to predict, but if you want quick profits and maybe you are too impatient, then SafeMoon is not for you. Find another crypto that can make it to the moon faster. Look at dogecoin for example. People waited years until something happened.
SafeMoon might be a good investment for you if you are patient. Not fanatically so, but patient in a smart way. The upcoming change will sustain the current “reward and punishment” model the coin has used while adding actual functionality.
We also know that this project isn’t a rug pull. If it were, they should have done it when things were hot. But they didn’t, so why would they now? Combine this with the team’s transparency, and you can completely disregard those concerns.
How Can You Buy SafeMoon (SafeMoon)?
Alright, we arrived at the interesting part now: How to buy SafeMoon on Bitmart. This exchange allows you to buy SafeMoon easily and transfer USDT and trade it directly for our wanted coin.
So, if you want to know how to buy SafeMoon on BitMart, please stay tuned. We will explain it step by step so you can do it yourself. Let’s go!
Step 1: Get A Crypto Wallet
If you want your SafeMoon stored in the most secure place, you must grab a crypto wallet. You can use this tool to save your coins and interact with the blockchain network. These wallets work by storing your private and public keys.
There are two different types of them, while one is safer than the other.
Hardware wallets are the best way to save your crypto, and they guarantee you safety above everything. However, if it is a hassle for you to set it up, you can always use a software wallet.
If you want to know which is the perfect wallet for you, we have a detailed article on our website. This explains all wallet security details you need to know. Make sure that the wallet you choose supports SafeMoon!
Step 2: Create A Crypto Exchange Account (BitMart)
Right now, we will tell you how to register on BitMart. First up, click the “get started” button in the top-right menu. Enter your email or your phone number, and then set a login password. Be sure that is difficult to guess since your money is on stage here.
You will see the email SMS verification page. Check your email message and enter the six-digit verification code. Click “Submit”. Alright, you are all set.
Now, you can access your BitMart account information by clicking “account” on the dropdown menu. You can check your account settings, assets, funds history, and trading history here. You can now start trading your crypto, which means your SafeMoon is getting closer now.
Step 3: Verify Your Identity
How do you pass BitMart’s identity verification? Well, the process is simple. First of all, log into your BitMart account. On the dropdown menu, click where you see “Account”. Under the “Account” level section, click “Details”. After this, click on “Verify now” to start verifying your identity.
Now, scan the Q.R. code with the BitMart mobile app. Choose your I.D. issuing country or region. Select your I.D. type, the most common one to use is “Passport”. After selecting your I.D. type, you will have to do these 2 things:
- Take a photo of your Id
- Go through face verification (scan your face in the frame)
Once you are finished with this process, click on “Done”. Hit back again and return to the main page of the BitMart exchange. Now, click the account symbol on the top left corner. Click on your username, and you will see that your account is in the verifying process.
After a few minutes, you can check again. You’ll realize that your account is successfully verified.
Step 4: Buy SafeMoon Using Credit/Debit Card
For buying SafeMoon, the first thing you need to do is transfer USDT into your account, and you can acquire the stable coin directly on the exchange to complete this task.
To do this you have to click on “Buy Coins” at the top of the site. Then, you have to select the payment method you want to use. There are many options, including credit and debit cards.
After clicking on “Buy”, you will see a large list of cryptocurrencies. There, click on USDT and go to pay. After this, you only need to select the amount you want and click on “Continue”.
Once all that’s done, BitMart will ask you for your payment details. Complete everything and make your payment. Note that it can take some minutes for your purchase to appear in your account.
Now that those USDT are in your possession, it’s time to trade them for SafeMoon. Go over to the spot section and click on “Standard”. You will be redirected to the trading page, which can be quite confusing. Don’t worry though, we’ll guide you through it.
At the top right corner, you will type at the search bar “SafeMoon”. You can see that there is only 1 trading pair, USDT/SafeMoon. Click on it and the page will reload.
At the bottom of this new page, you will see a box with a “Buy SafeMoon” option. Watch SafeMoon’s price, which will be at the left of the box, and pay at that rate. After this, enter the amount of USDT you want to trade.
If you want all your USDT to be traded, click on the 100% below. For finishing the process, click on “Buy SafeMoon”.
Alright, so you are now a proud owner of this cryptocurrency, and it is just a matter of ensuring it is safely stored.
Step 5: Transfer Your SafeMoon To Your Wallet
To put an example here, we will use Trust Wallet to transfer SafeMoon coins. This is because the Trust wallet is the most used for storing SafeMoon. However, the process is similar for every wallet.
In your BitMart account, go over to “Assets”. Just click on “Withdraw” and paste your address from Trust Wallet. If you don’t know how to find the address, it’s really simple.
You need to go to the top right button (lines with circles around it) and type in SafeMoon.
Make sure that the button it’s turned on. Then just click on the coin, go over to “receive” and copy the address. Over to Bitmart, paste the address as we said before. Select the amount of SafeMoon you want to transfer and click on “Withdraw”.
Now you have been able to transfer your SafeMoon successfully. Mission accomplished!
So we just went through a complete guide on SafeMoon characteristics and how to buy SafeMoon on BitMart. It was a nice ride, and we all hope that this project skyrockets and makes some SafeMoon millionaires.
Always keep in mind that every crypto project seems to be profitable in the short term, but it can be very risky. Don’t forget to do your proper research and be very sure when investing.
Prices are very volatile, and emotions shouldn’t drive you. Cold mind for cold profits.
If you want to know how to buy other altcoins, check out our website.
There, you will find many articles similar to these but covering coins like TRON, DOGE, or SOL. If you need to buy Bitcoin, we also got you!
We hope you enjoyed this article and was useful for your purposes. See you on the moon, SafeMoon owner!
Credit Cards1 year ago
What is Credit Utilization And How Can You Use It To Improve Your Credit Score?
Crypto10 months ago
What Is Cryptocurrency? The Ultimate Crypto Learning Resource
Manage Money1 year ago
Four Ways to Make Your Money Work for You
Crypto11 months ago
How To Buy VeChain (VET) – A Quick Step By Step Guide