SafeMoon has promised to take investors ‘to the moon’ without the volatility of Bitcoin or Dogecoin. In this guide, we’ll show you how to buy SafeMoon coin and explain where to buy SafeMoon with easy step by step guides.
How to Buy SafeMoon Coin – Quick Guide
Want to buy SafeMoon crypto right away? You can get started with Binance in just 4 simple steps.
1. Open an account with Binance – Head to the Binance website and click ‘Register Now’ to create an account. You’ll need to enter your email and personal information.
2. Upload ID – Binance requires you to verify your identity before you can buy SafeMoon stock. Upload a copy of your driver’s license or passport as well as a proof of address.
3. Deposit – Binance accepts payment by credit card, debit card, or bank transfer. There’s no minimum deposit, but you must buy at least $10 worth of SafeMoon per trade.
4. Buy SafeMoon Coin – Search for the ‘SafeMoon/USDT’ trading pair on the Binance trading platform. Enter the amount you want to buy and click ‘Open Trade’ to complete your purchase.
How to Buy SafeMoon Coin Tutorial
Let’s cover how to buy SafeMoon stock using Binance in more detail.
Step 1: Open an Account with Binance
Binance is one of the best places to buy SafeMoon coin. Head to the Binance website and click ‘Register Now’ to create a new trading account. You’ll need to enter an email as well as some personal details to get started.
Step 2: Upload ID
Binance requires you to verify your identity in order to comply with anti-money laundering regulations. You can complete this step by uploading a copy of your driver’s license or passport as well as a recent bank statement or utility bill that shows your address.
Step 3: Deposit
Binance doesn’t require a minimum deposit, but you can save money by funding your trading account ahead of time. You can pay by credit card, debit card, or bank transfer.
Step 4: Buy SafeMoon Coin
Open the Binance trading platform and search for ‘SafeMoon/USDT.’ Click on the tradng pair when it appears and then enter the amount of SafeMoon crypto you want to buy. When you’re ready, click ‘Open Trade’ to buy SafeMoon.
Where to Buy SafeMoon Coin
Wondering where to buy SafeMoon? This cryptocurrency is relatively new, so not every exchange offers it for trading yet. Let’s take a look at 2 of the best platforms to buy SafeMoon stock.
1. Binance – Best Way to Buy Safemoon Coin
Binance is one of the largest cryptocurrency exchanges in the world and has a huge selection of more than 500 coins, including SafeMoon. The broker also offers a built-in crypto wallet, making it as easy as possible to buy SafeMoon crypto.
With Binance, you can either buy cryptocurrency instantly using a simple web interface or dive deep into technical analysis using the exchange’s advanced trading platform. The trading platform not only includes technical studies and drawing tools, but also gives you access to the SafeMoon order book and depth charts.
Another nice thing about Binance is that it’s relatively inexpensive. You can buy SafeMoon with a commission of just 0.10% per trade, and the fee is discounted if you hold Binance’s BNB cryptocurrency in your trading account. Just note that there is a 3% fee if you purchase SafeMoon using a debit or credit card without first funding your account.
Binance also stands out because it offers cryptocurrency derivatives. You can buy leveraged tokens that move $2 for every $1 move in the SafeMoon price. You can also buy crypto futures that allow you to speculate on the timing as well as direction of price movements.
Binance isn’t regulated by any financial watchdog, but it’s generally considered to be safe. The platform allows you to make payments using a credit card, debit card, or bank transfer.
Cons
2. eToro – Overall Best Crypto Exchange
eToro is our overall favorite cryptocurrency trading platform. The broker doesn’t offer SafeMoon just yet, but has plans to add this hot new coin in the coming months. In the meantime, you can get started trading 16 popular cryptocurrencies with eToro, including Bitcoin, Ethereum, Dogecoin, and more.
eToro allows you to buy cryptocurrencies using a wide range of payment methods, including debit and credit cards, bank transfers, and e-wallets like PayPal, Neteller, and Skrill. The platform requires a minimum deposit of just $50 for US traders and spreads start as low as 0.90%.
You also have the option of using CFD trading to buy and sell cryptocurrencies with eToro. This allows you to speculate that the price of a cryptocurrency will fall, as well as enables you to trade on 2:1 margin. You can also trade popular coins like Bitcoin against fiat currencies such as the British pound and Euro in addition to the US dollar.
eToro offers a capable trading platform for the web and through the eToro mobile app. It especially stands out for its social trading network, which allows you to follow other crypto traders and discuss ideas. This is especially helpful for keeping up with crypto news and staying one step ahead of the market. eToro also supports copy trading, so you can mimic the moves of more experienced traders.
eToro is regulated by the UK Financial Conduct Authority (FCA) and is used around the world. This platform also offers 24/5 customer support, so you can get in touch easily if you need help with your account.
Update – As of 2024, the only cryptocurrencies eToro users in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash and Ethereum.
Cons
67% of retail investor accounts lose money when trading CFDs with this provider.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection.
What is SafeMoon Coin?
SafeMoon is a relatively new cryptocurrency that shares a lot in common with Bitcoin. It’s designed to facilitate secure global payments over a decentralized blockchain network.
The difference between SafeMoon and other cryptocurrencies is that it doesn’t want to just take investors ‘to the moon’ – a phrase popularized by Elon Musk to describe tokens like Dogeocin. SafeMoon’s goal is to get there safely.
To that end, SafeMoon has taken several steps to reduce its volatility. The coin’s founders openly discourage day trading. In addition, SafeMoon crypto automatically charges a 10% fee when selling the token to make it more painful to sell. Half of these fees are distributed to existing coin holders, so they effectively receive a dividend as a reward for continuing to hold onto SafeMoon.
SafeMoon also uses manual burns, meaning that the coin’s leadership team decides when to remove coins from circulation instead of making this process automatic. That gives them more control over the SafeMoon price as the coin gains popularity.
Why Buy SafeMoon Coin? SafeMoon Coin Analysis
One of the main reasons to buy SafeMoon coin is that it aims to achieve some of the same goals as Bitcoin, but in a less volatile way. High volatility not only adds risk for investors and traders, but is also one of the main obstacles to more widespread adoption of cryptocurrency. So by reducing volatility, SafeMoon could become more attractive to everyday users and financial institutions as a replacement for fiat currency.
Another benefit to buying SafeMoon stock is that token holders receive half of all fees that are paid when the coin is sold. In some ways, you can think of SafeMoon as an income investment – albeit a much riskier one than most dividend stocks or bonds.
Although the potential upside of this coin is attractive, there are still some important pitfalls to SafeMoon. Critics note that the SafeMoon leadership team owns more than half of the cryptocurrency’s outstanding coin supply. That means that if the team were to sell a significant portion of its coin holdings, the SafeMoon price could collapse without warning.
In addition, SafeMoon’s controls to reduce volatility don’t appear to have worked so far. The coin has seen wild price swings of over 1,000% in a matter of days over the past month. This is even more significant than the volatility that Bitcoin and Ethereum experience, so it’s unlikely that everyday investors and banks are going to look at SafeMoon as a safe store of value anytime soon.
SafeMoon Coin Price
The SafeMoon price was valued at less than $0.000001 as recently as April. As the price of Dogecoin exploded in response to a series of tweets from Elon Musk, investors also became interested in SafeMoon as an alternative. That caused the SafeMoon price to skyrocket – SafeMoon hit a high of $0.0000125 in mid-April, a gain of more than 1,500% in less than a week of trading.
The price almost immediately dropped back to less than $0.000004, indicating that SafeMoon’s selling controls were insufficient to prevent the short-lived bubble from popping. Since then, the SafeMoon price has recovered somewhat. As of mid-May 2021, SafeMoon is priced at $0.00000588 and the entire SafeMoon crypto project has a valuation of $3.4 billion.
SafeMoon Coin Price Prediction
It’s difficult to predict what will happen to the SafeMoon price next. On the one hand, the coin is trading at less than 1/10th the value it reached in April. Aggressive believers in SafeMoon could see that as an opportunity to buy at a steep discount.
However, there’s no guarantee that SafeMoon will retest its April high. In fact, the coin appears to be losing momentum right now and could be poised for further losses. While SafeMoon’s selling penalties may buoy the price, those same penalties proved unable to stop the severe crash in April.
More broadly, SafeMoon is up against a number of competitors vying for investors’ attention right now. The cryptocurrency set out to be an alternative to Bitcoin and Dogecoin, but tokens like Shiba Inu are also trying to fill that niche. It’s impossible to know yet which cryptocurrency will emerge victorious, but SafeMoon doesn’t appear to have enough of an edge to put it over the top.
Investing in SafeMoon vs Trading SafeMoon Coin
SafeMoon was designed to attract long-term investors. Once you buy SafeMoon stock, you’re rewarded with payouts to encourage you to keep it and you face punishment for selling. That suggests that SafeMoon could make a good long-term investment.
However, these price controls have proven inadequate in the face of a rush to buy and sell SafeMoon. As long as the cryptocurrency’s volatility remains high, investors should see this as a highly risky investment – much riskier, even, than Bitcoin or Ethereum.
That same volatility has created opportunities for trading, though. The coin’s 1,500% price gain in April shows just how lucrative a well-timed swing or momentum trade on SafeMoon stock can be. Traders should proceed with caution since these large price swings can cause large losses if a trade goes against you.
SafeMoon Payment Methods
Wondering what payment methods you can use to buy SafeMoon? You have a couple different options. Be sure to think about what payment method you want to use when considering where to buy SafeMoon.
Buy SafeMoon with PayPal
First, you can buy SafeMoon with PayPal. This is possible at crypto brokers like eToro that accept PayPal for payment. Note that Binance does not accept PayPal at this time.
Until eToro offers SafeMoon trading, you can also buy SafeMoon with PayPal by first buying Bitcoin. You can then transfer your Bitcoin to any cryptocurrency exchange, including Binance, and use it to purchase SafeMoon.
Buy SafeMoon with Credit Card or Debit Card
One of the simplest ways to buy SafeMoon is using a credit card or debit card. Both Binance and eToro accept Visa and Mastercard payments. Best of all, when you use a credit card or debit card, your funds are available for trading right away.
Buy SafeMoon with Bank Transfer
You can also buy SafeMoon with a bank transfer. Just provide your bank account details to your broker and initiate an electronic transfer. Note that bank transfers can take several days to complete, so you won’t be able to buy SafeMoon right away using this payment method.
Best SafeMoon Wallets
In order to store your SafeMoon crypto, you’ll need a SafeMoon wallet. Your wallet serves as your digital bank account for cryptocurrency and allows you to buy, sell, and send cryptocurrency.
The wallet we most highly recommend for storing SafeMoon is the eToro wallet for iOS and Android. This app is extremely secure and supports more than 150 cryptocurrencies. If you’re already an eToro user, you can log into the wallet using your same account information. You can also exchange between any of the cryptocurrencies that eToro offers instantly without ever leaving your wallet.
Another great option is the Binance Trust wallet, also available for iOS and Android devices. This wallet supports more than 500 cryptocurrencies, including SafeMoon, and includes a built-in marketplace for decentralized finance (DeFi) apps. The Trust wallet is protected by Binance’s cutting-edge security technology, so you can feel confident your crypto is safe.
Other good options for storing SafeMoon coin include the Exodus and Mycelium wallets. Both of these are simple to use and highly secure. They can also be paired with a hardware wallet from Trezor or Ledger for even more protection.
Buy Safemoon at Binance
SafeMoon was designed to take cryptocurrency investors ‘to the moon’ with less volatility than coins like Bitcoin or Dogecoin. The cryptocurrency has its work cut out for it, however, as recent price spikes have shown just how volatile SafeMoon can be. SafeMoon also needs to establish itself as a more dominant cryptocurrency if it hopes to gain an edge over more valuable coins like Dogecoin and Shiba Inu.
Now that you know where to buy SafeMoon and how to buy SafeMoon, it’s time to get started. Click the link below to sign up for a Binance account today!
FAQs
Should I buy SafeMoon coin?
It’s difficult to know whether the price of SafeMoon will rise or fall. If you believe this cryptocurrency can gain popularity relative to alternatives like Bitcoin or Dogecoin, then it could be worth buying. However, SafeMoon should be considered a highly risky investment.
Where can I buy SafeMoon coin?
You can buy SafeMoon stock at Binance. eToro, our overall favorite cryptocurrency exchange, is also expected to add SafeMoon trading in the near future.
Is SafeMoon a good investment?
SafeMoon’s volatility makes it a highly risky investment. However, the token is designed to encourage long-term investment and offers payouts to token holders. If you have a high risk tolerance, SafeMoon could be a good investment.
How much SafeMoon coin should I buy?
Binance requires you to buy at least $10 of SafeMoon crypto per trade. Otherwise, you’re free to choose how much you want to invest. Only invest money you are willing to lose in this volatile cryptocurrency.
How much is SafeMoon coin worth?
A single SafeMoon coin is currently valued at $0.00000588. The SafeMoon crypto project as a whole is valued at $3.4 billion.
Will SafeMoon coin go up?
It is difficult to say whether SafeMoon will go up or down. The coin is currently trading 1,000% below its April high, but there is no guarantee that it will return to that level.
