What is Safemoon?
SafeMoon is an altcoin: a blockchain-based digital currency broadly similar to Bitcoin, but with some clear distinctions as well. It launched in March 2021 and has already racked up over 1 million users.
SafeMoon’s unique feature is that it charges a 10% fee to anyone who sells their tokens; 5% of this fee is then redistributed to all other SafeMoon owners, essentially rewarding those who hang onto their tokens and disincentivizing selling.
One criticism of cryptocurrencies like Bitcoin is how they’ve strayed from their original goal of providing a working, decentralized currency to simply become investable commodities; it’s not clear what, if anything, you’ll actually be able to buy with SafeMoon, but the selling fee is at least encouraging owners not to just buy and sell their tokens for now.
SafeMoon could also be seen as a more serious take on Dogecoin, the tongue-in-cheek altcoin with an unofficial rallying cry of “To the moon” — SafeMoon’s slogan is “Safely to the Moon.”
How to Buy Safemoon?
Before we start you must sign up for the following two exchanges. Newton and Binance.
Then download Trust Wallet on your Mobile Phone iOS or Android.
