his article will explain the methods of how to buy SafeMoon (SAFEMOON). This coin has exploded in popularity recently, and for good reason. With the price incredibly low and its promise to bring investors โto the moon,โ celebrities and investors looking to make a quick buck happily have jumped on board. Unfortunately, SafeMoon can be extremely complex to purchase. We have broken it down for you to make your SafeMoon purchase as quick and stress-free as possible. This step-by-step guide was created to help you learn how to buy SafeMoon with the easiest method.
Disclosure: No content in this article should be taken as financial advice. Investing can be risky, so it is recommended that you consult with your accounting, legal, and tax advisors before engaging in any kind of transaction.
How to Buy Safemoon: TLDR
Buying SafeMoon involves a multi-step process, typically using a cryptocurrency exchange and a compatible wallet. First, acquire Binance Coin (BNB) or Binance Smart Chain (BSC) on a platform like Binance. Then, transfer the BNB/BSC to a compatible wallet, such as Trust Wallet or MetaMask. With your BNB in the wallet, use a decentralized exchange platform like PancakeSwap to swap your BNB for SafeMoon. Remember, patience is required due to the potential for high network congestion and fees. Always double-check addresses and transactions for accuracy to avoid loss of funds.
What is SafeMoon?
SafeMoon is a cryptocurrency that promises to reward investors who purchase the token and hold it. Simultaneously, it disincentives people to sell it by charging a 10% penalty and gives 5% of this penalty to users who keep holding SafeMoon.
Many experts are calling SafeMoon a high-risk coin, as its success is dependent on investors to continue buying in for it to โgo to the moon.โ This has created a cult-like following, encouraging people to buy into the coin.ย
Safemoon Risk Assessment
Investing in any form of cryptocurrency involves a certain level of risk, and SafeMoon is no exception. Being a relatively new player in the market and having unique tokenomics, it presents certain risks that potential investors should be aware of:
- Volatility: Cryptocurrency markets are notorious for their volatility, and SafeMoon is no different. The price of SafeMoon can fluctuate significantly within short periods, leading to potential losses. Investors need to be prepared for this level of risk and only invest funds they can afford to lose.
- Smart Contract Risk: SafeMoon operates on the Binance Smart Chain and utilizes a smart contract for transactions. Like any software, there may be potential vulnerabilities or bugs in the smart contract code that could be exploited, leading to loss of funds.
- Regulatory Risk: The regulatory environment for cryptocurrencies is evolving. Changes in regulations can affect the price and liquidity of SafeMoon. For instance, bans or restrictions on the trading or use of cryptocurrencies in certain countries can impact its price negatively.
- Liquidity Risk: Being a deflationary token, a portion of each SafeMoon transaction is burned, reducing the overall circulating supply. This, along with the redistribution of tokens to existing holders, could impact liquidity, making it more challenging to buy or sell significant amounts without impacting the price.
- Project Risk: SafeMoonโs future largely depends on the successful execution of its roadmap and the performance of the project team. Any delay or failure in delivering the planned projects, or any negative news regarding the team, could affect investor sentiment and the tokenโs price.
- Market Adoption Risk: SafeMoonโs price depends on its adoption as a form of payment or a store of value. If the market does not widely accept SafeMoon, the token might lose its value.
Before investing, it is highly recommended to do thorough research, and understand the project, its goals, its team, and its community. As always, diversification of investments is key to managing risk.
Where to Buy SafeMoon Crypto
SafeMoon is not an easy coin to buy. We outlined the best method for buying SafeMoon below. You will be able to buy SafeMoon through a combination of using Binance, Trust Wallet, and Pancake Swap. Please read the below guide carefully to purchase your SafeMoon coins!
How to Buy SafeMoon with Binance, Trust Wallet, and PancakeSwap
Step 1: Create and verify your Binance Account.
If you are a U.S. resident click here to create your account:
If you live outside the U.S. click here to create your account:
Go through the guided steps to set up your account. You will be required to verify your identity, which should only take a few minutes.
Step 2: Deposit Fiat
You will need to connect your bank account or connect a debit/credit card in order to buy Binance Coin (BNB). This is what you will have to use in order to buy SafeMoon. We highly recommend purchasing through connecting a bank account to avoid high fees! If you want to buy BNB quickly, you can use a credit/debit card but may pay a small fee. You will see โBuy Cryptoโ at the top of the page.
Now, simply click on โPayment Methodโ and โAdd New Payment Methodโ and then choose one of the following:
- ACH (this is a bank transfer and recommended for beginners + lowest fee)
- Credit/Debit Card (recommended for beginners and small purchase amounts)
- Domestic Wire (not recommended)
Once youโve chosen your preferred way to transfer fiat to your account, youโll simply follow the on-screen instructions and move to the next step.
Step 3: Convert Fiat to BNB
Great โ youโve successfully deposited fiat into your account! Now you will need to convert your fiat (ie. USD, EUR, etc) to cryptocurrency. You will need to buy BNB. Once you purchase BNB, youโre ready to start the process of buying SafeMoon!
Step 4: Download Trust Wallet
You will need to download Trust Wallet on your mobile phone. Simply go to your app store, search โTrust Walletโ and download the app. Go through the process to create an account.
Important Note: Make sure you SAVE your key phrases in a SECURE location! We donโt recommend writing them down on a piece of paper (you will lose it). Save them in a secure password storage app, such as LastPass.
Step 5: Get the โReceiveโ Address from Trust Wallet
Click on the โSettingsโ button on the top right of the app. Now, search for โBNB.โ It will be the first listing that you see. Go back to the crypto list and click on BNB. It will open up a dedicated page for BNB.
Click on โReceive.โ Clicking receive will give you an address where you can send your BNB that you bought earlier from Binance. Copy this address.
Step 6: Send BNB from Binance to Trust Wallet
Go back to your Binance account. Click on โWithdraw.โ Here, you will input the address that you copied from Trust Wallet. This will allow you to send your BNB from Binance to Trust Wallet.
Note: You do not need to input a Memo. Just click Send.
Step 7: Buy BNB SmartChain with BNB
Go back to the Trust Wallet app and click on DEX at the bottom of the app. Click on โYou Payโ and type in BNB. Next, click on โYou Getโ and then click on BNB SmartChain.
For the amount of โYou Payโ type in whatever amount of BNB you have. Then, click on โSwap.โ Your BNB coins will now be transferred to BNB SmartChain.
Step 8: Add Your Browser to TrustWallet
On your phone, go to Safari or your default browser. Copy/Paste and Go to this address: trust://browser_enable It will now ask you if you want to open this page in Trust. Click on โOpen.โ You should now be back in the Trust Wallet app.
Step 9: Buy SafeMoon on Pancake Swap
On the bottom of the screen, click on โBrowserโ and search for โPancake Swapโ and click it. This will open Pancake Swap.
You should now see an option that says โFrom.โ Make sure BNB is selected. Click the โMaxโ button or type the desired amount of BNB you want to use. On the โToโ option, you will need to type in โSafeMoon.โ Note: In this step, you may see some errors. This is due to the slippage tolerance. The higher the tolerance, the more GAS fee you will pay. You can leave the tolerance at 11% or try to put it lower. However, just note you may get errors. We had to put it on 15% for it to work successfully.
How to Buy Safemoon Without Trust Wallet
SafeMoon can be purchased without Trust Wallet. Simply follow the instructions above and use MetaMask instead of Trust Wallet.
Frequently Asked Questions
Is SafeMoon Legit?
We recommend SafeMoon as a coin for short-term holding. This coin has been pushed by celebrities and has garnered a lot of attention, but that doesnโt mean it is safe. We always recommend trading at your own risk and do research before investing in any cryptocurrency.
Is SafeMoon on Coinbase?
SafeMoon is currently not on Coinbase.
Is SafeMoon on Binance?
SafeMoon is not currently on Binance. Please read the guide above for how to buy SafeMoon using Binance.
Can You Buy SafeMoon on Robinhood?
No, SafeMoon is not available for purchase on Robinhood.
Where can I buy SafeMoon crypto in the U.S?
SafeMoon can be purchased in the U.S. by using Binance.US, Trust Wallet, and PancakeSwap. Please refer to our guide above to do this.
Where can I buy SafeMoon in the UK?
UK citizens can purchase SafeMoon by using Binance, Trust Wallet, and PancakeSwap. Please refer to the guide above.
