The SafeMoon cryptocurrency was released on March 8, 2021, and instantly gained popularity in the crypto market. Since its release, it has increased the incomes of its early investors by more than 20,000%. But three months later, after reaching a record high of $7.97, the value of the coin collapsed by almost 70%. Nevertheless, interest in the token has not faded so far.
SafeMoon is bought by investors, crypto enthusiasts, and industry experts in the hope that one day the explosive coin will thank them with high growth. But getting it is not so easy: the token is not available on cryptocurrency exchanges and it is impossible to buy it for fiat funds. So if you want to learn how to get SafeMoon quickly and easily, this article is for you!
We bring to the attention of all crypto investors a step-by-step guide on how to buy SafeMoon cryptocurrency with Trust Wallet. Let’s go!
Everything is necessary to know about the SafeMoon token?
SafeMoon (SFM) is one of the most popular cryptocurrencies. It is a DeFi token issued on Binance Smart Chain (BSC), now known as BNB Chain. The coin is intended for fast P2P transactions and a decentralized payment policy.
The token immediately flooded the information air of Twitter and TikTok, arousing interest among many crypto investors. It was approved by such celebrities as rapper Lil Yachty, singer Nick Carter and video blogger Logan Paul. Lil Yachty posted a tweet calling Safemoon the new DogeCoin (DOGE).
On April 20, 2021, Binance even had to suspend withdrawals from the platform due to a sudden influx of SafeMoon investors.
In December 2021, the developers presented a new version of the project called SafeMoon v2. On CoinMarketCap, the coin was transferred to a new address.
Let’s take a quick look at the current numbers of SafeMoon v2:
- Current price: $0.0002995
- Market capitalization: $ 171 498 379
- Market capitalization rating: #2119
- Circulating supply: 561.43B
SafeMoon creators reduce the number of SFMs in circulation.
How does Safemoon work?
If you want to invest in SafeMoon, you should learn some of the nuances associated with this coin.
The creators initially stated that the coin was developed with the intent to encourage long-term investment. To reduce price volatility, SafeMoon charges a 10% transaction fee for every sale or purchase of SFM.
The charged commission is shared between long-term SFM holders as a reward and SafeMoon’s liquidity pool at PancakeSwap. The first solution encourages customers to keep cryptocurrency on their accounts, and the second one stabilizes the value of the token.
As a result, tokens are burned to reduce the total supply, making existing tokens more scarce and more valuable in the long run.
Despite the sufficient demand on the market, SafeMoon can be bought on a few exchanges. The cryptocurrency is currently available on PancakeSwap, Bitrue, Gate.io, MEXC, and Bitmart.
One of the best wallets for SafeMoon is Trust Wallet. The non-custodial wallet supports 53 blockchains and more than 10 million tokens. It integrates perfectly with PancakeSwap, making it easy to buy SafeMoon cryptocurrency with Trust Wallet.
How to buy SafeMoon Cryptocurrency with Trust Wallet
To buy SFM, you need a cryptocurrency wallet that supports SafeMoon (SFM) and Binance Smart Chain (BNB) coins, and also allows you to make purchases with fiat currency. The Trust Wallet mobile crypto wallet meets all the requirements.
Pay attention! The guide considers the purchase of the current version of the coin – SafeMoon V2. Anyone still holding the legacy token version (SAFEMOON) must now upgrade to the latest version (SFM).
Step by step guide on how to buy SafeMoon with Trust Wallet next.
Step 1
Install Trust Wallet on your smartphone or tablet.
Download Trust Wallet from the App Store for iOS devices or from the Play Store for Android devices.
Step 2
Create a wallet in Trust Wallet.
Click “Create a new wallet”. Accept the terms of use. Then follow the on-screen instructions to set up your account.
Be sure to write down the 12-word secret phrase. You are also provided with a private key. Make sure this information will be kept in a safe place.
If you already have a Trust Wallet set up, skip to step 3.
Step 3
Deposit funds to Trust Wallet.
To make purchases on Trust Wallet, you need BNB. It is the native token of the Binance Smart Chain network that runs the Binance ecosystem.
BNB can be bought on Binance and directly in the Trust Wallet app using fiat currency.
Note! The minimum purchase of BNB is $50.
After the purchase, the coins will appear on the account in the Trust Wallet.
Step 4
Add SafeMoon v2 Token to Trust Wallet.
Since Trust Wallet supports many tokens, most of them have to be added manually.
- Tap the settings icon in the top right corner of Trust Wallet.
- Enter the name of the token in the search field.
- Click the switch next to the “SafeMoon v2 (SFM)” token.
- The SFM will appear in the list of tokens in your wallet.
If the application does not find the token, it can be added manually. - Click the icon in the top right corner to bring up the Add Custom Token tab. Fill in the form fields.
Net: Smart Chain
Token address: 0x42981d0bfbAf196529376EE702F2a9Eb9092fcB5 (copy on CoinMarketCap).
Name: SafemoonIcon: SFMDecimal number: 9Click “Done”.
Step 5
Connect PancakeSwap to Trust Wallet.
This step will be different for Android and iOS users.
Go to the “Browser” tab in the bottom menu of Trust Wallet. Then go to the “DApps” section.
Scroll down until you see PancakeSwap and click on it. The icon will redirect you to the pancakeswap.finance exchange page.
Step 6
Exchange BNB to SafeMoon.
a. Select from the list of SafeMoon v2 tokens for the second swap.
Do not choose a legacy token called SAFEMOON!
Click MAX in the top field to buy SafeMoon for all your BNB.
b. Otherwise, enter the amount of BNB you want to exchange.
Set slippage. Set it to 12% as the exchange must account for the 10% SafeMoon transaction fee on top of price fluctuations.
Complete the exchange.
Congratulations, you are now the owner of SFM. As soon as the exchange on the blockchain is over, SFM tokens will appear in Trust Wallet.
In conclusion
Investing in cryptocurrencies is never completely safe. The crypto market is extremely volatile, so rapid price jumps up and down are not uncommon.
SafeMoon should not be viewed as the only path to becoming a billionaire or millionaire. SafeMoon is a lottery ticket where everyone can lose everything if the bet doesn’t win. Despite positive forecasts for SafeMoon’s price growth, no one knows what will happen.
The main rule that is: never invest more than you can afford to lose.
