What Is SafeMoon?
This article traces the origin of the newest cryptocurrency SafeMoon, shedding light on its ownership, current market capitalization, potential strategies and how one can own a SafeMoon in their crypto wallets.
With over 9000 coins already functioning in the market, cryptocurrency is no longer a strange concept. Despite its volatility and sudden drop in prices, investors are banking on its massive potential as the futuristic mode of currency. StopElon, Ethereum, Dogecoin, Bitcoin, the list goes on with the crypto verse welcoming its newest participant – SafeMoon.
Getting to know the SafeMoon
SafeMoon is founded by John Karony (CEO), with Thomas Smith as the CTO, and Jach Haines-Davies as its COO. Even though it is the most recent cryptocurrency to enter the market only in March 2021, SafeMoon has caught the significant attention of crypto enthusiasts, crypto traders and crypto miners. “Safely to the Moon” is the expansion of SafeMoon, which sells itself currently as a DeFi token. The phrase “Safely to the Moon” was originally used by the Dogecoin creators. Launched as another player in the decentralized system of currency, Safemoon aims to resolve the price volatility issue of usual cryptocurrencies. Especially after the quaking surge and recession of Bitcoin, SafeMoon is seen as a cryptocurrency that would fuel a positive change in the crypto-verse.
Within three months of SafeMoon entering the crypto market, it registered a market capitalization of US$2.2 billion and a valuation of US$0.000003967. SafeMoon is seen as a unique entrant in the crypto verse because it does not leverage any level or type of financial intermediaries and exists on the blockchain. Having a total supply of 1 quadrillion tokens, it encourages peer-to-peer exchange.
Buying the SafeMoon
SafeMoon’s official website lists Pancakeswap as the primary medium to exchange and buy its tokens from. One can buy the SafeMoon through these easy steps:
- Create a trusted crypto wallet
- One needs to convert BNB through a trust wallet
- To the trust wallet in the smart chain, one needs to add SafeMoon
- After the transaction swapping process, the crypto wallet will show SafeMoon
As SafeMoon is exceptionally new to the crypto market and also relatively free from any sort of scrutiny, financial analysts and crypto traders agree that due to the highly non-regulated characteristics of this cryptocurrency, it might be risky to invest in it for now. Some have even accused the currency creators of having been running a Ponzi Scheme because the maximum liquidity is owned by its own team. However, in response to these allegations, SafeMoon’s owners have publicly laid down their potential strategies in the form of a clear roadmap detailing its plan of action for the upcoming year. According to the roadmap, SafeMoon is on a mission to integrate itself with African Markets, initiate its own exchange ecosystem and explore others in the field, including Binance.