![]() The pair also announced that they were working with Simplex, a platform that enables users to purchase cryptocurrency using a credit or debit card.SafeMoon's CEO John Karony and COO Jack Haines have revealed plans to use Minecraft as a platform to test possible new features.SafeMoon value is up by 1.6% in the past 24 hours.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.” Latest SafeMoon news (Updated June 2) 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’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. It launched in March 2021 and has already racked up over 1 million users. SafeMoon is an altcoin: a blockchain-based digital currency broadly similar to Bitcoin, but with some clear distinctions as well. Just in: What is Amazon Sidewalk, and how to opt out.What is Bitcoin? Everything you need to know.Top cryptocurrency by value: Bitcoin, Ether, Dogecoin and more.While they operate in similar ways, Uniswap is the leading decentralized exchange on Ethereum, while Pancakeswap is the leading DEX on Binance Smart Chain. If you’ve ever used Uniswap, then Pancakeswap should look familiar. However, these low fees come at the cost of centralization while it’s an attractive short term solution, the small number of validators on Binance’s blockchain raise security concerns. Pancakeswap’s biggest benefit over other DEXs are its low transaction fees you’ll likely pay less than $1 to process your transaction. All you need to do is choose SafeMoon token, and you’ll be able to swap the tokens in your wallet for SafeMoon. PancakeSwap is an Automated Market Maker (AMM), meaning that it uses mathematical equations to calculate token prices instead of centralized order books. If Tik Tokers can figure it out, then it can’t be too hard, right? Luckily, buying SafeMoon is much easier than setting up your crypto wallets to interact with PancakeSwap. Since Binance Smart Chain is a relatively new blockchain, there aren’t many hardware wallets on the market that support BEP-20 tokens like SafeMoon. This way, it’s impossible for your cryptocurrency to be hacked. Hardware wallets are physical devices that store your cryptocurrency offline. However, software wallets can still be hacked, so you may want to consider other storage solutions. Since you’ll need to use a software wallet to connect to PancakeSwap, your crypto assets are much more secure than if you were to store your cryptocurrency on a centralized exchange. Once these tokens are in your wallet, you can use the bridge feature on PancakeSwap to enable your tokens to work with BSC. Once your wallet is set up with Binance Smart Chain, you can send your BNB tokens to your wallet. You can then set up your wallet by providing the following information: To set up your wallet to be compatible with BSC, you’ll need to choose “Custom RFP” from the drop down tab in the upper right hand corner of the screen. Most cryptocurrency users who interact with decentralized exchanges (DEXs) use MetaMask wallet, as its Google Chrome extension makes it easy to use with other programs on your PC. While cryptocurrencies like DOGE and SafeMoon could make you a quick buck, they aren’t regarded as viable investments for the long term. Remember, names can be deceiving –– there’s a good chance you’ll end up losing close to your entire investment if you decide to invest in pump-and-dump Tik Tok Tokens. Since you’ll eventually be swapping these tokens for SafeMoon, you should buy as much BNB as you wish to invest in SafeMoon. Once you’re approved to trade, you’ll need to purchase Binance Coin (BNB). Depending on where you live, you may have to provide additional information before you’re approved to begin trading. Creating an account with Binance is easy you just need to provide an email address and create a password. ![]() You’ll need to make a Binance account to use the platform’s decentralized exchange, PancakeSwap. Luckily, Binance, the largest crypto exchange in the world makes it easier. Due to this, you will likely have to buy BNB (the native token of BSC) from a major exchange and swap it for Safemoon. Since SafeMoon is a new and controversial cryptocurrency token, many popular exchanges like Coinbase and Gemini don’t support the asset on their platforms.
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