How to buy Safemoon in Bitmart

With the rise of numerous coins daily, investors may not be quite sure on where to throw their money. SafeMoon appears to be a fantastic choice for investors in a world where we are seeing an increasing number of new altcoins every day.

Because SafeMoon does not have some sort of advantages over other cryptocurrencies, a lot of enthusiasts are not paying attention to it, preferring instead to go for other altcoins which have a use case. SafeMoon has survived so far on its popularity, but that isn't a guarantee for long-term success.

The coins with a clear purpose or a competitive edge are the ones that survive.

SafeMoon was previously exclusively accessible for purchase through the Binance smart chain on trust wallet. The Binance smart chain has to be purchased and then exchanged for SafeMoon tokens.

This approach was time-consuming. But BitMart now offers a more simplified and efficient manner of doing things, making the process much simpler and smoother.

This post covers all you need to know about SafeMoon and how to acquire it on BitMart.

What is SafeMoon?

SafeMoon is a Defi cryptocurrency that is new to the market. The word 'Defi' means a decentralized financial currency with no central authority overseeing its peer-to-peer transactions. 

It was originally introduced on March 8, 2021, by its CEO John Karony, who is a former United States Department of Defence analyst. It has progressed significantly since then. The Binance Smart Chain (BSC) is the foundation of the project (now known as the BNB Chain).

It aims to encourage all purchasers by penalizing sellers. As a result, there will be a boom in demand, pushing the price "to the moon."

The 10% tax on every sale, according to SafeMoon's white paper, rewards long-term investors and keeps prices stable.

SafeMoon's platform charges a 10% fee for each transaction, with 5% of that cost distributed among current SFM holders. This reflection function has the potential to deter investors from selling their SFM coins.

One major purpose of SafeMoon is to prevent price drops caused by whales selling their tokens. A whale is a word describing someone who has a high amount of cryptocurrency coins.

The remaining 5% of the transaction fee goes to PancakeSwap liquidity pools, with 2.5% of the 5% converted into Binance Coin (BNB) to ensure SafeMoon token liquidity.

The project asserts that by adding a tax to the overall liquidity of the token, its automatic liquidity provider system creates stability from the supplied liquidity provider.

SafeMoon has long been chastised for being a worthless token. However, with the release of the SafeMoon Wallet, this cryptocurrency has once again demonstrated that it is a trustworthy initiative.

SafeMoon appears to have a bright future ahead of it, with many more goods on the way.

The demand for this coin grew once the SafeMoon Wallet was launched. To add to the intrigue, the wallet has been released on the Google Play Store and the iOS App Store.

With this move, we are looking to see how much of an impact the wallet will have on SafeMoon's market performance.

SafeMoon Update.

The project published a new SafeMoon version in December 2021, dubbed SafeMoon V2, and has subsequently migrated to a new contract address on CoinMarketCap. SFM is the new name for the SafeMoon cryptocurrency.

At $0.0017 on December 16, 2021, SFM began its adventure. Following a period of horizontal price activity, the bull run began in late December, when the currency soared from 0.00165 on December 30, 2021 to 0.0029 the next day.

The SafeMoon V2 SFM currently ranks #2841 on CoinMarketCap. With an unverified market cap from the CMC team. On Coingecko, the SafeMoon V2 SFM ranks #152. The old SafeMoon ranks #233 on CoinMarketCap. On Coingecko, it ranks #240.

What is Bitmart?

Sheldon Xia, the current CEO of BitMart, launched the company in 2017.

It has branches in Greater China, Seoul, and Hong Kong, but has its headquarters in New York.

BitMart is a controlled cryptocurrency exchange that is now regarded as one of the most secure crypto exchanges. BitMart's platform is built on a multi-layer design that ensures security, scalability, and stability for its users.

It is a controlled cryptocurrency exchange that is currently widely regarded as one of the most secure in the world. Many people use this exchange for up-and-coming currencies because it lists many of the new cryptocurrency coins that have yet to be listed on any of the world's exchanges.

BitMart is available in over 180 countries and has well over 5 million users, with a diverse range of 300 and more cryptocurrencies available for trading at any time of day. They focus on getting newer coins to individuals as rapidly as possible in order to make bitcoin more accessible to the general public.

Many investors who are looking for low-cap cryptos use BitMart as well. This is due to the fact that BitMart is continually updating its list of new cryptocurrencies and tokens that have yet to be added to other exchanges.

To know if you're on the official BitMart website, you will see Top Coins and Top Gainers displayed on the BitMart home page. BitMart charges a single price of 0.25% for trading because maker and taker fees are combined into one.

How to buy SafeMoon in BitMart

SafeMoon could only be purchased via the trust wallet at first. For security reasons, one must build a wallet on the trust wallet network and remember a recovery phrase.

They would then be given access to the wallet. Then, by trading Binance smart chain, add SafeMoon. Any fiat-based currency, like US dollars, could not be used to purchase SafeMoon.

To obtain SafeMoon, you must first purchase a Binance smart chain, which must then be exchanged for SafeMoon. Other than Binance smart chain, no other cryptocurrency or token could be used to swap for SafeMoon at the moment.

BitMart, on the other hand, has gradually adopted SafeMoon and is now providing its consumers with a more convenient and simplified way to purchase this token by facilitating exchanges in other stable coins.

When you've decided to buy SafeMoon on BitMart, there are a few things you need to do first, and they include;

1.     Create a BitMart account: BitMart is available on iOS and Android devices. Simply go to the app store on your phone and download the app. After that, you must create an account on their platform using either your email address or your phone number, or both.

This stage will provide you access to most of the BitMart platform's features, but if you want to buy or sell SafeMoon, you'll need to go through the "Know–Your–Customer" protocol and verify your identity by submitting a government-issued financial or other forms of identification.

After that, you can purchase and sell any cryptocurrency or token offered on the site at your leisure.

2.     Fund your account: You'll find a "Buy and Sell" button in the upper left corner of your main screen to fund your account. When you click it, you'll be taken to a page where you may buy bitcoin, Ethereum, and other stable coins.

BitMart is offered in 180 or more countries throughout the world, so finding your local fiat money on the exchange platform should not be an issue. You can also use the US dollar, the pound sterling of the United Kingdom, the Japanese yen, and the Indian rupee.

Whatever currency you select, the rate of the required amount will be displayed in that currency.

3.     Purchase USDT: Buying a Tether cryptocurrency, often known as "USDT," with your country's fiat currency is highly encouraged. Tether is a US dollar-denominated stable coin.

At any one time, one Tether is always equal to one US dollar. If you want to buy SafeMoon on BitMart, the Tether is your best option. It is the cryptocurrency equivalent of the US dollar.

It is far less volatile and is directly linked to US Dollar price variations. This coin would be great for exchanging SafeMoon tokens whenever you wanted. You can use SafeMoon tokens to exchange a variety of different cryptocurrency tokens and coins, in addition to SafeMoon tokens.

4.     Trade USDT > SafeMoon: Go to the market part of your BitMart's main screen and search for the SafeMoon token in the search bar. When you've found SafeMoon, choose the option to swap it for a Tether (USDT).

"SAFEMOON/ USDT" will be displayed on the screen. Choose this combination and the amount of SafeMoon you'd like to purchase.

The system will display the equivalent cost in Tether. SafeMoon will be safely put in your BitMart account once you have completed your order. This balance can be kept in your BitMart account indefinitely for as long as you wish, and you can use it for whatever you desire, including investment and day trading.

FAQs

Is it wise to invest in SafeMoon?

SafeMoon's current overall market capitalization is close to $1 billion. Quite impressive for a brand new cryptocurrency competing against over 9,000 others, but it's not a smart investment.

Is BitMart a suitable fit for SafeMoon?

Yes. The SafeMoon token swap from V1 to V2 will be supported by BitMart, which will provide a swap service to users. As a result, users on the platform can complete the transaction without taking any action.

Is BitMart Suitable for Crypto?

BitMart is a global cryptocurrency exchange that allows both novice and expert traders to purchase and sell a diverse range of digital assets. The exchange also provides users with early access to tokens produced through its in-house token launchpad, as well as a variety of yield generation options.

Is BitMart a safe place to trade?

To protect users' assets, 99% of funds in BitMart are stored in offline cold wallets. Users can earn up to 6.25% annualized interest rate with the loan scheme offered on crypto such as USDC. BitMart Shooting Star will help high-quality blockchain projects get off the ground quickly.

Was BitMart hacked?

Yes. The security breach was primarily driven by a stolen private key, which affected two of the exchange's hot wallets, but other assets were "secure and unharmed," the exchange revealed.

According to a report from CNBC, cryptocurrency exchange BitMart offered a full refund to victims of the platform-wide $200 million hack, but some users have yet to get their funds.