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How To Buy Safemoon (SFM): Swapping Crypto Made Easy
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Home » Crypto » How To Buy Safemoon (SFM): Swapping Crypto Made Easy

How To Buy Safemoon (SFM): Swapping Crypto Made Easy

how to buy safemoon

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If you’re looking for a way to get into the cryptocurrency market, SafeMoon is a possible option. It’s a new currency that quickly gained popularity back in 2021, and it’s easy to buy and use. In this article, we will show you how to buy SafeMoon tokens and use the network to your advantage.

We’ll also give you some tips on how to keep your coins safe and secure with the dedicated SafeMoon Wallet.

However, if you are new to the crypto space, we strongly recommend going through our dedicated article – “Crypto For Beginners“. This will give you a strong foundation, allowing you to navigate through the industry with ease.

Launched in the spring of 2021, SafeMoon promised a revolutionary idea. But a year later, its adoption rate has yet to take off.

SafeMoon was designed to take some of the volatility out of the crypto market and reward long-term token holders. Its price shot up in April 2021 but has since dropped back with investors concerned about the fee structure and finding a real-world use for the digital currency.

How To Buy SafeMoon – Summary

A short version of how to buy SafeMoon looks like this:

  1. Download SafeMoon Wallet App.
  2. Purchase BNB.
  3. Wait for the transaction to complete.
  4. Swap BNB for SFM.
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For an extended version please look for the dedicated section below.

What is SafeMoon

SafeMoon is a cryptocurrency token created in March 2021 on the Binance Smart Chain blockchain. The token is known for charging a 10% fee on transactions, with 5% redistributed (or reflected) to token holders and 5% directed to wallets in a different currency, Binance Coin (BNB), controlled by the coin’s authors.

The SafeMoon coin has been around for a bit more than a year, but it’s quickly losing momentum. With its high transaction fees and volatile nature, some people might think twice before investing their money into this newbie.

Aside from that, the project has its own DEX (decentralized exchange) where you can swap tokens, similar to UniSwap, PancakeSwap, etc.

As for the future, the project plans on developing an NFT exchange as well, which would be quite an innovation. Not only that, but the team also wants to organize charity projects and crypto educational apps.

Safemoon Logo Vector (.SVG) Free Download
Source: Safemoon.com

The most important update is going to be the long-term staking option that is currently in development. It is stated that it will be up to 80% APY (Annual Percentage Yield) which is stunning compared to other yield farms.

All of this will be happening within the SafeMoon Wallet, which is available for both iOS and Android.

SFM is the native cryptocurrency of the network. According to the official white paper, the cryptocurrency has 3 main functions:

Reflection

As we mentioned earlier, the network charges those who buy SFM a 5% fee. All 5% go back to the current holders of SFM. This motivates owners to hold for a longer period of time before selling.

That sums up the Reflection function.

LP Acquisition

The second function is the Liquidity Pool Acquisition. In the white paper, we can easily find information about this portion of the system. Another 5% fee is charged which is then issued to other similar platforms (i.e. PancakeSwap). Half of what goes there is converted to BNB, guaranteeing high liquidity for the SFM/BNB pair.

Burn

The token burn is yet another classic feature that ensures a token is deflationary. If you haven’t heard of that term, it means that the token supply is reduced on a regular basis, ensuring a single token is more valuable than it was before. This works great in the demand & supply crypto era we are currently in.

How To Use SafeMoon Swap

To use SafeMoon Swap you will need to own some crypto first. The platform currently works only with the BSC mainnet. This means there is a limited number of currencies you can swap across. The most popular one on there is definitely BNB.

Once you head to the website, you will be asked to connect your wallet. It can be SafeMoon Wallet, MetaMask, Binance Chain Wallet, and some others.

You can now choose the crypto you want to swap from, to the crypto you want to receive. However, before you confirm the amount, make sure to check the settings, which will allow you to choose transaction speed, slippage tolerance, and a transaction deadline (in minutes).

Once you’ve chosen the amount and settings, you can confirm the transaction and expect the amount in a couple of minutes.

This will also be very useful when wondering how to buy or swap SafeMoon for a different token.

History of SafeMoon

SafeMoon (version 1) launched on the 8th of March, 2021. Its price at the time was $0.0000000010 with a supply of 777 trillion SafeMoon tokens.

The founder and CEO of SafeMoon is John Karony. There are 3 more known team members working on the project, more about which you can check here.

There isn’t any other information about the history of the token, except that SFM has 2 different versions. The first version is the one we talked about up until now. The second version – SFM – was launched back in December of 2021, with the aim to tackle supply issues. Not only that, but with v1 some users were unable to benefit from the “reflection” feature.

With that being said, the first version is no longer in use, which is why you need to make sure to buy SafeMoon V2 (SFM).

Price Analysis & ATH

Before deciding whether or not you want to invest in a cryptocurrency, it is very important to go over its past performance. That’s mainly to give you an idea of what is currently happening with the token. Since there are two versions of SafeMoon, we will cover both until they cancel each other out.

2021

SafeMoon v1 is one of the few cryptocurrencies that blew up during launch. Its initial price was $0.000000001 in March but quickly rose to $0.00001118, which is also the token’s current all-time high (ATH).

If you calculate it, this is a 10,000x growth in only a month, which made many rich. Unless they decided to hold out of greed, which was going to be a huge loss for them.

Ever since then, the price of SafeMoon has been bearish. It dropped even more during the announcement of SafeMoon v2 (SFM). On the 12th of December, when the token launched, the price of SafeMoon was 0.0000016, which is a 10x drop from the ATH.

At this moment, we can go and take a look at the chart for SafeMoon v2. It actually launched at a price of $0.003, which is higher than the ATH of SafeMoon v1 because of the 1:1000 ratio in which they migrated it.

Yet, ever since its launch, the price of SFM also never stopped dipping. At the end of the year, the price was $0.0015.

2022

In 2022 the price of SFM has only been dropping, extending the bearish phase. However, that is quite natural, due to the current ongoing military conflicts in Europe, leading to a drop in the value of the crypto market.

With that being said, the current price of SFM is around $0.0005, which is 6x less than it was during the ATH of v2.

Is SafeMoon A Good Investment

Now that we know enough about SafeMoon, including its history and price analysis, we can come up with a conclusion on its worth as an investment. There are a couple of things we will need to consider here.

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First, the team behind SafeMoon is quite small. This means that given the situation where SafeMoon gets the spotlight again, it will be a hard thing to handle.

Another problem with SafeMoon is that it does not solve any certain problem. Many owners have been complaining about the lack of utility. This is a huge reason why it’s been declining in evaluation over the past year.

Following that is the issue with buying SafeMoon. It is just not as easy. Lots of new investors want to be owners of a new token in a couple of simple clicks. The fact that SafeMoon has to be swapped for another token instead of being purchased directly is another negative.

Although the project and its team want to expand it, even the roadmap is currently empty (as of the beginning of May).

Source: Safemoon.com

In conclusion, we do not believe SafeMoon is currently a project worth investing in. Although this might change, things are not looking bright for the price of SFM.

How To Buy SafeMoon – In-depth

Time needed: 8 minutes.

In this section, we will quickly go over the few steps you need to follow to become an owner of SFM.

  1. Create a SafeMoon Wallet.

    First, you will need to download the SafeMoon Wallet application on your iOS or Android devices. This is quite easy. However, you will need to create an account as well. Make sure to keep your 12-word code safe and secure, because it is the only way to recover your wallet if anything were to happen.

  2. Purchase BNB.

    Purchasing BNB is actually quite simple because you will be using the SafeMoon wallet. This will happen by using the integrated MoonPay feature. First, click on the “Buy” button in the top-right corner of the app and select “Smart Chain (BNB)”. Following that, you will need to enter the amount of BNB you wish to purchase, link your card, and confirm the transaction.

  3. Wait for the transaction to go through.

    It can take up to 30 minutes for the transaction to go through. However, it is a rarity for it to take this long. These transactions usually are complete within 2-5 minutes.

  4. Swap BNB for SFM.

    In the app, click on the “Swap” icon in the middle on the bottom. In the upper section select BNB, while selecting SFM in the section below. You can go through the settings and select a slippage percentage, in addition to some other options. Select an amount you wish to swap, click on “Swap” and confirm. You are now an owner of SFM.

Conclusion

With so many new projects coming all the time it is hard to sieve through the better ones. There are some projects that are completely useless and attract investors in a way that might appear as a scam (HINT: because they are). Others simply lack the manpower to achieve their goals.

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In this case, SafeMoon is an ambitious project that falls into the latter category. Although it might look like a pyramid or a “Ponzi” scheme, it most likely is not. Yet, there are too many things that need to change for it to go up the leaderboard by market cap and see adoption.

Currently, the token doesn’t have enough utility, making it a bit useless for the crypto space. Even with the swap platform, the project cannot compare to other DEXs such as UniSwap, PancakeSwap, etc. This is why we believe it is a risky investment.

However, if you like the project and its idea, you can invest in it for the long term. If the team behind it With that being said, we will be keeping you updated regarding the project as a whole.

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