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How to buy SafeMoon [OLD] (SAFEMOON) in Canada
Learn how to buy SafeMoon [OLD] (SAFEMOON) easily by following a step-by-step guide and compare 10+ crypto exchanges.
How to buy SafeMoon [OLD]
Look for an exchange that supports both fiat and cryptocurrency to simplify buying SafeMoon [OLD].
- Open an account on an exchange that supports SAFEMOON.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy SafeMoon [OLD].
- Buy SafeMoon [OLD].
Complete your SafeMoon [OLD] purchase and then find the best wallet to store SAFEMOON.
What is SafeMoon [OLD]?
SafeMoon is a decentralised finance (DeFi) token built on top of the Binance Smart Chain (BSC) blockchain. The token was designed to mitigate issues related to price volatility that have plagued the digital asset market since its inception.
SafeMoon actively dissuades token holders from liquidating or day trading their tokens by charging a 10% fee on each sale. Instead, SafeMoon rewards the "buy and hold" philosophy by gifting long-term token holders monetary incentives and benefits. According to SafeMoon documentation, half of the 10% sale fee is redistributed back to token holders. The platform punishes traders and rewards those that hodl.
SAFEMOON is the native crypto asset of the ecosystem and is designed to help facilitate not only reward issuance related processes but also various internal transactions. As per the official project whitepaper, the asset has a total supply of 1 quadrillion tokens (of which 223 trillion have already been burned).
SafeMoon [OLD] (SAFEMOON) is the 215th largest cryptocurrency in the world by market cap, valued at $333,761,172. The current price of SafeMoon [OLD] is $5.93027e-7, which is -4.420% lower than yesterday. Prices have ranged between $6.21142e-7 and $5.9317e-7 over the past 24 hours. All prices are listed in US dollars and accurate as of January 19, 2022 08:01 UTC.
Where to buy SafeMoon [OLD]
Find an exchange to buy, sell and trade SAFEMOON by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
SafeMoon [OLD] at a glance
|Total SAFEMOON supply||1,000,000,000,000,000|
|All time high||US$0.00001094|
|Notable team members||John Karony|
|Token uses||Transaction fees, rewards|
|Network||Binance Smart Chain|
SafeMoon [OLD] price performance over time
How to sell SafeMoon [OLD]
You can cash out your SAFEMOON with the same exchange you bought it through:
- Sign in to the exchange you have SAFEMOON on.
If you store your SafeMoon [OLD] in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of SAFEMOON you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of SafeMoon [OLD].
What to consider when buying SafeMoon [OLD]Cryptocurrency investments can be extremely volatile. It's important to consider both the upsides and the risks before any purchase. Here are some things to consider before buying SAFEMOON:
- Novel design infrastructure: The SafeMoon protocol implements different technological modules. These include RFI tokenomics and an auto-liquidity-generating protocol. This combination helps provide its users with a seamless DeFi experience. It's a novel but yet untested approach among cryptocurrency projects.
- Operational framework: According to the whitepaper, SafeMoon wants to make it easier for newcomers to make use of high APY liquidity pools. To help achieve this, the platform employs a static reward model, which helps relieve a lot of the selling pressure that digital currencies face when large scale liquidations occur.
- Incentive-driven: SafeMoon employs a novel reflect mechanism that helps provide token owners with massive incentives to accrue and hold onto their digital assets. The platform’s Automatic LP module helps usher in a high level of stability to the token by providing a degree of price flooring/cushion.
- Liquidity-centric operations: As mentioned previously, each SafeMoon transaction incurs a flat 10% fee of which 50% is redistributed to other token holders. According to Benzinga, the remaining 50% is split between purchasing BNB reserves and adding liquidity to the PancakeSwap network.
- Leadership team: The project’s CEO John Karony previously worked for the United States Department of Defence (DoD) as a technical analyst. SafeMoon’s Chief Technology Officer Thomas Smith and its community manager Trevor Church have been affiliated with many tech firms and also run an independent video game studio called TANO.
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Disclaimer: Cryptocurrencies, including SafeMoon [OLD], are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SAFEMOON is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the SafeMoon [OLD] or any other cryptocurrency discussed.
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