SafeMoon was launched recently in the spring of 2021 and has made it through headlines, and so many investors have also looked for a topic like SafeMoon on Coinbase.
It is the latest cryptocurrency, designed to provide a long-term reward to token holders.
In easy words, SafeMoon is a new cryptocurrency like Bitcoin, Ethereum, Dogecoin, etc., trying to reach the Moon.
The pitch which has led to the hike of SafeMoon is that, unlike other cryptos, it will not undergo wild price fluctuations.
The platform of SafeMoon works around the BEP-20 SafeMoon token, offering a good reflection tokenomics.
For every transaction you make, SafeMoon charges a 10 percent fee, out of which, 5 percent is given to SafeMoon holders and the rest is further split into two.
However, the question that lingers around is what makes SafeMoon unique? Have you ever thought of investing in this crypto but could not find a reason to?
Below we have listed some of its features that make SafeMoon unique in its own way:
Static and Better Rewards
As we mentioned earlier that every transaction gives 5% to the SafeMoon holders – the rest becomes very easy to understand.
The amount shared is distributed based on the volume of tokens and is 10% part of what is being charged on every transaction.
It eases the downward sell pressure for early adopters who are looking to sell their tokens. This is also one of the notable reasons why we find SafeMoon on Coinbase.
When a token holder intentionally sends their token to an unusable wallet, it is known as coin burning.
The address to that unusable wallet is called a burn address, and it cannot be accessed or assigned to anyone.
This is done when certain tokens are coins and are no longer in demand and the holder wants to get rid of them intentionally.
The holders would do it when the token is no longer in demand or when their tokens are lost or sent to an address with no owner to the actual address.
To ensure that there are no spam transactions, coin burning is performed.
However, in the case of SafeMoon, the supply of such tokens reduces, and their demand and supply are increased.
Automatic Liquidity Pool
Another amazing feature of SafeMoon is that it offers a self-sustaining liquidity pool.
It allows tokens from transactions as fees and adds them to the pool on PancakeSwap.
As a result, you would see an increase in the price floor of the token. Moreover, you would notice an increase in selling activities while not having to dump tokens on the market.
Why no SafeMoon on Coinbase?
There is an increasing demand for SafeMoonon on Coinbase, as it is the safest and easiest way of crypto trading.
SafeMoon has not yet been listed on Coinbase or Binance, but the hopes and demands are being hyped every day.
A petition was filed to get SafeMoon on Coinbase, and it has recently gained 4,646 signatures.
For new cryptocurrencies like SafeMoon, it is one of the biggest goals to be listed on platforms like Coinbase and Binance.
Despite all the amazing benefits it offers, SafeMoon is still a relatively new cryptocurrency.
Moreover, it is no surprise that Coinbase only lists coins by hype. The most common example that we can think of is Dogecoin, which had been people’s favorite and waited a long time to be on the platform for trading.
When it was questioned for not listing Doge early, it was noted that the coin’s competitors were getting huge support from the investors.
Should you buy SafeMoon?
From the past few months to date, the price of SafeMoon has tripled. Despite being a newcomer in the crypto industry, it has started making headlines and reached the top.
The purpose of SafeMoon was to encourage new investors not to sell early. No doubt that this has led the coin to have a network of loyal new investors, but has also opened to criticism and skepticism.
SafeMoon today appears to be a “risky” investment, despite offering unending benefits. Here are three benefits of why you should invest in SafeMoon:
Valuable Crypto Brand
There are more than 13,000 cryptocurrencies in the market, and the new ones are popping every now and then.
However, what makes SafeMoon stand out is its branding. It has stood with its competitors despite being new to the market and has been trending regularly on social media.
Although it does not have any addition or significance in its technology but is much like Bitcoin, Ethereum, and other top cryptos.
The hype alone of SafeMoon relies on its brand alone. This alone has made people want SafeMoon on Coinbase.
- Illiquidity and Volatility
No one buys a token with a mindset or plan of selling it in the future. However, they wish to get the max benefit out of it while the prices never stop growing.
SafeMoon is designed to follow the exact same strategy. It is designed to maximize the incentive, promote long-term investing, and eradicate selling.
They have put this into practice by implementing a fee of 10% to any investor who sells their share. The 5 percent of this fee was added as a liquidity pool, for supporting price stability.
Next, the remaining 5 percent is shared among the existing shareholders. This approach has led to the interest of so many investors, and they can benefit from someone’s sold shares.
SafeMoon gives its shareholders passive incomes throughout the year, every time someone sells. In weak times when selling pressure is high, SafeMoon’s investors generate even more passive income as a reward for being a holder
- High-Profile influencers:
We all can agree that the involvement of high profilers in any field has to be something.
In the case of SafeMoon, online influencer like Dave Portnoy has it going. The founder of Barstool Sports has announced an investment of $40,000 in SafeMoon back in May.
After reading all that we have on the table for SafeMoon, you might be thinking of buying some of your own. However, before you run to invest in this crypto, we have listed some things you should know about this new cryptocurrency:
- SafeMoon Launched 777 Trillion Tokens
SafeMoon has an enormous supply and a minimal price. SafeMoon launched on 10th March with over 777 trillion tokens and each one had a price of $0.000010. People who bought tokens of $100 got back 100 billion in return.
- 10 Percent Fee For Selling Your Token
We know we have mentioned this feature above, but this feature is so great that it does not hurt talking about it again.
Sellers have to pay 10% of their share while selling. Let’s say that a person has 100 million SafeMoon.
When they sell that, they have to pay 10 million as a fee for selling. Half of this fee is given to the remaining owners at SafeMoon.
This means that you are getting passive income whenever someone sells their tokens. It is one of its unique features and the reason for people wanting SafeMoon on Coinbase.
Moreover, SafeMoon shared a white paper report which shared that 10% tax on every sale is cut which goes as a reward to the long-term shareholders and stabilizes their price.
- Manual Token Burning:
Another best part about SafeMoon is manual token burns. It means that SafeMoon burns token regularly, which ultimately reduces the supply and increases the price.
According to the report, more than 223 trillion tokens have been burnt till now. One can only imagine the reduction in the supply and the hike in price that they have put to the table.
- The Early Price Shot Was Around 20,000 Percent
Initially, SafeMoon earned aggressively from early buyers. Soon after the launch in April, its price hit higher than $0.00001399.
For instance, if a person put $100 into SafeMoon at the time of launch, they would now have almost 1.4 million worth of profit.
Unfortunately, SafeMoon’s price dropped down to over 75 percent in recent years. Almost every crypto has seen a price drop in its life, but SafeMoon’s stats are absurd.
The value that it lost is higher than several bigger coins such as Bitcoin and Ethereum.
- It Does Not Have A Real Word Purpose
The reason why most crypto enthusiast is skeptical and reluctant about SafeMoon is that it does not have any real-world advantages of usage as other cryptocurrencies.
SafeMoon has gained a lot of popularity so far, but it does not guarantee long-term success. Cryptocurrencies with specific purposes or competition have only in the market.
- No Cash Purchases or Crypto Exchanges
The top cryptocurrencies like Bitcoin do not have an option of SafeMoon available.
Moreover, SafeMoon does not offer any exchange option that lets you buy fiat money like dollars. However, Pancakeswap (which enables swap between cryptocurrencies) was the first to list SafeMoon.
The app lets you connect your crypto wallet, so you can trade Binance coin for Safemoon or vice versa.
There are other exchange platforms as well that let you trade Tether for SafeMoon.
- Style Over Substance
Recently SafeMoon has shared their plan for the future and their website and their regular live streams.
Their ideas are all over the map; however, they do not seem to create much hype in the near future.
Some of their plans were to release a SafeMoon app, wallet, and video game. Next, they plan on creating a SafeMoon exchange while integrating Safemoon with African markets
- Risky Investment
You might have your own opinion about Safemoon, but according to sources and experienced, SafeMoon is the riskiest investment that you can make.
It is true that SafeMoon has been subjected to a lot of criticism and skepticism. Moreover, it has been referred to as a “Ponzi scheme” by famous influencers.
The SafeMoon community has been compared to a cult, pyramid scheme, pump and dump, and many other names that you can think of.
There is no doubt that almost all crypto investments are risky investments, but some are much riskier than others.
As SafeMoon does not have any legit applications and relies solely on popularity, it is known as the riskiest and dangerous place to put your money.
One can say that SafeMoon has lived its best days and they are now behind it.
You cannot find SafeMoon on Coinbase
For safe and secure buying, selling, transferring, and storing crypto, Coinbase is known as a popular platform. It works as a bank, but with your cryptocurrency money.
However, being the most trusted platform comes with many responsibilities. Many new cryptocurrencies arise daily with a huge risk of being a scam or not.
As it is quite hard to give a verdict on the authenticity of SafeMoon, you cannot find it on Coinbase.
If a crypto wants to qualify for Coinbase, must follow these guidelines before applying:
- They must share how they distribute their tokens
- How they decentralize their nodes
- They must share the necessary information about code and its origin
- The currency must assure equality between holders.
As SafeMoon is a reflection token, it has received quite a criticism regarding its tokenomics as people do not understand it.
Back in the days, there were rising rumors that Coinbase would take Safemoon on their platform, but the rumors faded as the popularity of SafeMoon faded.
That might be because of the backlash SafeMoon faced soon after it was launched, so Coinbase decided to stay away from it.
Moreover, when SafeMoon was launched, there was not enough information provided by the manufactures on how they distributed tokens.
As these two were a major concern, SafeMoon lost the chance to be on Coinbase back then.
The future of SafeMoon is not predicted yet, as the cryptocurrency market has always been uncertain.
However, it is very well known that cryptocurrency is the way to the future, and the market will surpass the rest in the near future.
Any project with the potential to grow will be seen on Coinbase, which gives us hope to one day see SafeMoon on Coinbase.