Which wallets support Safemoon
There are more than 9000 types of crypto coins currently available in the market. It’s highly unlikely that all of these coins will survive the harsh crypto market.
The developers or teams behind these coins are very small, so they have yet to deliver what they have promised. SafeMoon is a small project and has a small team, but nevertheless, it is one of the hottest crypto coins in the current market.
Crypto enthusiasts and experts think that SafeMoon is soon going to follow the pathway of Dogecoins. The name SafeMoon refers to “Safely to the Moon”, and the experts suggest that SafeMoon will soon reach a greater height just like Dogecoin did. SafeMoon was launched in the month of March at a price of 0.0000000010 dollars per coin in the Binance ecosystem. And on April 20, it hit an all-time high of 0.00001399 dollars, within a month after its launch. But then it jumped back to 0.000003 dollars in the month of July. It quickly became Binance’s third-largest valued coin in terms of market capitalization.
How does SafeMoon work?
A total of 1 quadrillion tokens were released at the time the coins were released in the market, but while launching the tokens, the developers of SafeMoon burnt 223 trillion coins. This is one of the primary features of the SafeMoon token, where with time, the coins get burnt. SafeMoon has three core components named reflection, pancakeswap and token burn. Reflection is where a penalty is charged for selling the tokens, pancakeswap connect Binance with SafeMoon through a liquidity pool and in token burn where coins are burned after each transaction. The developing team, in its whitepaper, has also stated that the team will manually burn tokens according to their discretion.
SafeMoon supporting wallets
Most of the brokers do hot have the option to buy SafeMoon from their platforms. The best way to buy SafeMoon tokens directly, is to create a pancakeswap account and finance that account with Binance coins (BNB or BUSD) and then exchange those Binance coins for SafeMoon tokens. You cannot buy SafeMoon directly because when SafeMoon is created on the Binance Smart chain platform.
The SafeMoon company is relatively new; therefore, it is currently unavailable on most of the exchange platforms, but with time, the situation is likely to change. There are also two crypto exchange platforms where you will be able to buy SafeMoon. One of them is Paybis; it is a United Kingdom-based, rapidly growing crypto exchange platform. Another one is Capital.com, it also supports trading of both small and large cryptocurrencies.
Although the wallets which can support SafeMoon are limited because the digital currency is relatively new in the market, with further updates, it will be available in the other crypto exchange platforms in the near future.