SafeMoon coin brought a lot of attention to the crypto world over the last few days.
And it is no wonder since this crypto made 200x or 20000% to its earliest holders.
The luckiest ones had the luxury of buying this coin at miserable $0.00000007 per coin(on March 20th, 2021), and I won’t even get into thinking and calculating for those who bought the first SafeMoon price recorded by CMC($0.000000001 on March 10th, 2021).
All in all, huge money was made by trading SafeMoon this week.
I’ve jumped into this crazy train at $0.00000130, experiencing amazing gains over just 48-72 hours(at one point more than 1200%).
While I wasn’t smart enough to cash out during the peek, I still saved my entry and locked in 300% profits, while leaving a portion for potential future breakouts.
The current SafeMoon price of $0.0000039 is a double sword.
When looking from the pessimistic angle, we can say there are certainly potential issues with the SafeMoon coin:
It’s down 400% from what it was just 3 days ago. This does say the coin is extremely volatile and has more space to fall hard(it’s still 300% up from just 5-6 days ago).
The SafeMoon coin supply is enormously big(616,523,426,814,421).
Coins with big coin supply tend to grow much harder, as the coin supply is a mandatory factor of a coin price.
The SafeMoon fees are outrageous– 10-12% when you want to withdraw, half of which are burned and half going to the existing coin holders.
Like all of this ain’t enough, many influencers started publicly criticizing SafeMoon, calling it a scam and a pyramid scheme.
All this leads to a simple conclusion- SafeMoon price is speculative at the moment, the risk ratio is very big, and whoever tries to trade SafeMoon in the following period should execute extreme caution.
But, as the old saying goes:
One man’s trash is another man’s treasure.
, so it would be ungrateful to not cover the optimistic side:
When looking from the optimistic angle, the SafeMoon price is 400% smaller than just 3 days ago, and there’s certainly a lot of hype going on
I have another quote for you, and it goes something like this:
Buy when everyone else is selling.
One thing is clear, and no optimism can cope with it- this coin is very risky and the SafeMoon price is fluctuating like crazy. What this means is that you shouldn’t invest large amounts of your capital in it. Period.
However, what every solid investor knows is that you buy when the price goes down. And with mad market coins such as SafeMoon, the investment can pay quickly, in hundreds and even thousands of percentages.
Even though the coin supply of SafeMoon is extremely big, its price is extremely low(just a 1/3000 of a cent), so it still can grow without tons of capital.
Coins with extremely low prices tend to increase easily and bring a lot of hype, as additional millions and billions invested do make a serious difference in such markets.
The most beautiful part about risky coins and pyramid schemes– once you know them for what they are, you can proceed regardless.
You see, scam and pyramid schemes can hardly hurt you and your capital– as long as you know how to handle them.
If you invest $200 in something that can go to zero, but also reach new heights and bring you a 1000-10000% gain, while $200 doesn’t represent more than few percentages of your portfolio– you’re making a very reasonable bet.
The only reason why you shouldn’t do it more often is that opportunities like this are somewhat rare.
Be wise, take care of your money management, and never invest in something you can’t handle and accept as a loss.
But also keep in mind that there’s no large profit without a certain risk involved. Otherwise, this game would be too easy.
I was kind of stuck with writing the next chapter on what Safemoon is, and during research found another optimistic point: Starting today, SafeMoon can be traded on Gate.io, an exchange with a trading volume of $3,478,268,091.
Now that you know what are my looks on the SafeMoon price(which is honestly the part I’m mostly interested in), let’s see a bit more about what SafeMoon is:
What Is SafeMoon
The SafeMoon whitepaper consists of just one or two A4 pages, so even though there’s some logic behind it, it’s hard to judge whether it’s just trying to say as little as possible, or targeted to those already involved in the crypto and DeFi area.
The team page is rather cute, which doesn’t justify the lack of additional info on team skills and prior experience, however, there are links like Discord, Linkedin, and Twitter.
Besides this, certain coin metrics are also available on the Safemoon website, such as:
- Current value: $0.000003455
- Current amount of holders: 1,028,046
- Liquidity: $171,417,135.45
- Market cap: $2,039,013,252.48
There’s also a link to their Safemoon Contract, apparently written in Solidity, but above my knowledge of blockchain coding.
Another thing that can be seen on their site is the “SafeMoon Exchange” funding page, where almost $773,906.37 was staked, one million is a goal to achieve.
Among other things, this page contains a video of the SafeMoon founder and CEO- John (Capt Hodl) Karony. I will attach it here for reference:
That’s about the information I was able to extract from the official SafeMoon website, along with a few more currently unverified points:
- SafeMoon App, Wallet, and Game(s)
- Integration with African markets and charity
- a UK/Ireland office
- a crypto educational app
- a community listing donation raise for several exchanges(i.e. Coinbase, Binance, Kraken)
- African based SafeMoon Office
- a SafeMoon Scholarship
All in all, we have a solid mix of verified and unverified points on the SafeMoon crypto token, which in my opinion are more than enough for this speculative coin- after all, my interest in this crypto has grown only due to the SafeMoon coin price.
How to buy SafeMoon Coin
Luckily it’s 2021 and buying crypto coins usually isn’t a hard thing to do.
All you need is some Bitcoin(or another cryptocurrency), or another cash medium(like a credit card), and an exchange where the SafeMoon token can be bought.
My research is already done, so you will get the easiest and fastest ways and exchanges where SafeMoon can be bought right now, but before doing so, please take this seriously:
Never invest money you can’t afford to lose, especially on currently speculative cryptocurrency coins such as SafeMoon.
The time will tell if the SafeMoon coin will prove worthy over time, right now we are interested mostly in its pricing action, thus a safe and moderate amount should be invested only.
Where to buy SafeMoon Coin
The SafeMoon coin can be bought on several exchanges.
If you’re into DeFi, you can check the “PancakeSwap” DEX(a decentralized exchange), where you should be able to swap your SafeMoon for either WBNB or BUSD.
I’m personally most comfortable with traditional exchanges, where you can easily buy and sell cryptos with either Bitcoin, USDT, or a credit card.
Bitmart is a relatively newer exchange that started operating in 2018. Besides popular and traditional crypto coins, they offer trading opportunities for various less known crypto coins such as SafeMoon, Zeppelin, etc.
Once you register on Bitmart, you just need to deposit any of the cryptocurrencies you already own(from some earnings site, another exchange, your friend, etc), sell that cryptocurrency for USDT, and then buy on the SAFEMOON/USDT pair.
Depending on where you are depositing from and the network busyness, it may take a while to get your cryptocurrency deposited into Bitmart, but it will usually happen within 5 minutes to few hours.
If you don’t currently own any cryptocurrencies, you can use your credit/debit card and buy some SafeMoon for a small number of dollars, euros, or some other currency.
The exchange itself looks trustworthy, although sometimes it can get clogged. Their trading volume is getting close to 1 billion US dollars, so there should be no fear of a scam on the exchange side.
The process of registration is extremely simple, and you can sign up and get ready for SafeMoon trading within minutes.
Same as on Bitmart, you just need to create an account, deposit some cryptocurrency or buy some USDT with your credit card, then search for the SAFEMOON/USDT pair.
As mentioned above in the big blue box, this exchange has a trading volume of almost 4 billion USD dollars, so you don’t need to worry about being scammed by it.
Just make sure you invest a properly small amount of money into it, and also make sure you can afford to lose all of it.
SafeMoon coin infographics
What’s next for the SafeMoon crypto coin?
If one thing is certain, that’s that no one knows what will happen with SafeMoon in the following days nor weeks.
But honestly, I don’t care much, as that’s how this game is played.
I found SafeMoon and earned 300% on its action, then reinvested some money into it when it fell sharply.
Whatever happens next, will either make me pretty happy or won’t touch me as my risk ratio is very low.
So do your research and draw your conclusions.
Maybe it’s not a good choice for you, or you may have found a much better opportunity(in which case please share via comments :P).
I just felt the need to share what I found with you via this article, and hopefully help you when making your own decision when considering SafeMoon.
After all, it would be a shame to miss such a large potential, and an even bigger shame to not hear my warnings and invest more than you can handle.
Please let me know in the comments about what you know regarding SafeMoon and what your opinions and predictions are.