“How to buy SafeMoon” is a common question today among investors who want to invest in this promising token. Following the claims that SafeMoon could soon take the place of Dogecoin, investors are flocking to purchase it. People supporting this coin believe that it will take the same path as Dogecoin.
In addition to that, more people learned about SafeMoon after the endorsement by David Portnoy, the founder of Barstool Sports and internet celebrity. He remarked that SafeMoon is his favorite meme token. This comment grew SafeMoon to greater heights.
What Is SafeMoon?
Before you run to invest in SafeMoon, let us understand what it is all about. SafeMoon is a decentralized finance token that operates on the Binance Smart Chain blockchain. It made its grand entrance into the crypto market in March 2021. However, it took off on TikTok and Twitter in mid-April.
The terms of operation of this currency attracted too many investors resulting in a backlog of withdrawals. As a result, Binance suspended withdrawal services temporarily.
Many investors are drawn to SafeMoon because they came up with a new strategy to reward buyers and punish sellers. Therefore, before investing your money into this trending token, it is essential to realize that they penalize sellers by a 10% fee. Half of the fee is redistributed to the holders.
The creators of SafeMoon aim to deal with major cryptocurrency issues like price volatility and premature selling hence the 10% fee on sellers. The advantage of investing in SafeMoon is that you will continue to make money as people buy-in. However, if no one purchases, you will receive 5% of zilch, and the decrease in demand will cause the prices to drop.
Now that you understand what SafeMoon is all about, let us look into how to buy on Bitmart.
How to Buy SafeMoon on BitMart
Buying SafeMoon is not a straightforward process, but the simple steps below will guide you to success.
1. Buy USDC on Coinbase
To purchase SafeMoon on Bitmart, you must have USDC. You can buy USDC from other exchanges like CoinBase or transfer a different coin to your BitMart wallet and ‘trade’ for USDT. In this guide, we will buy the USDC from CoinBase. If you do not have CoinBase, sign up to buy USDT.
2. Send USDC to BitMart
After buying your USDC, enter your BitMart account and search USDC and click on Deposit. They will provide you with an address where you want to send your USDC coins.
3. Trade USDC for USDT
By now, you should have USDC in your account. Click on Trade on the right, and a USDC/USDT pop-up will appear. Click the red “Sell USDC” on your right to trade your USDC for USDT. The price will pop up on your screen.
4. Buy SafeMoon
On the asset section, search for SafeMoon and click Trade. Click on “buy SafeMoon” on the pop-up that appears. The green numbers on the middle button represent the current price. The numbers below are buying prices of other people. Select any number since the prices will fluctuate and hit the green “Buy SafeMoon” button.
And that is the fastest way to buy SafeMoon.