SafeMoon is a crypto token launched in March 2021, and it operates on the Binance Smart Chain blockchain.
SafeMoon’s value increased soo much soon after its launch in 2021 after it was endorsed by celebrities and influencers. SafeMoon runs on the Binance Smart Chain blockchain. SafeMoon is a worthy investment in the crypto market.
It is one of the most popular tokens, and it is available on several exchanges. Just like other cryptocurrencies, SafeMoon was created to make financial transactions easier. SafeMoon works similarly to Bitcoin in that it is based on a decentralized network and maintains anonymity which makes them free from government interference.
If you are interested in investing in SafeMoon, you have to understand that cryptocurrencies are always changing and their prices go up and down frequently, which makes investing in crypto a highly risky venture.
A feature of SafeMoon that sets it apart from other tokens and coins is the exit fee charged to sellers. If you decide to sell your SafeMoon tokens, you will be charged a 10% exit fee (on top of the transaction fees). Of the 10%, 4% is shared among token holders, 3% is added to a liquidity pool, 2% is removed from circulation, and 1% is added to the SafeMoon Ecosystem Growth Fund, which is set up to help fund the development and improvement of SafeMoon.This exit fee helps prevent premature selling and discourages people from placing large volumes of tokens that could dilute SafeMoon’s value.
In this guide, you will learn how to buy SafeMoon, but before that let us see where to buy SafeMoon in Australia.
Where to buy SafeMoon
You can buy SafeMoon from a crypto exchange in Australia. Although there may be several cryptocurrency exchanges in the country, some of them may not offer SafeMoon. You need to research the exchanges offering SafeMoon and only open an account with those exchanges. Also, the crypto exchange should support the Australian dollar because that is what you’re gonna use to make purchases. In this article, we will take a look at buying SafeMoon with eToro and Binance.
Note
SafeMoon is currently not supported by CoinBase
How to buy SafeMoon
Buying SafeMoon with eToro
- Open an account: You have to open an account with eToro by going to their official website and clicking on the “join now” button to open a new account.
- Verify your identity: Upload all necessary documents that show proof of your identity and home address, you will get your account verified in a short time after doing so.
- Fund account: Make a deposit into your new eToro account with a minimum of $10.
- Search for SafeMoon on eToro: Search for SafeMoon in the eToro crypto market.
- Purchase SafeMoon: Enter the amount of the worth of SafeMoon you want to buy ain United States Dollars (USD), then click Open Trade.
Buying SafeMoon with Binance
- Download a Binance Wallet wallet
- Set up your Binance Wallet: Register and set up the crypto wallet via the wallet’s Google Chrome extension or via the mobile app you downloaded in Step 1.
- Buy BNB Chain as Your Base Currency: Once your wallet is set up, you can log in to your Binance account and proceed to the Buy & Sell crypto webpage to buy the BNB Chain.
- Send BNB Chain From Binance to Your Crypto Wallet: Once you buy your BNB Chain, go to your Binance wallet section and look for the BNB Chain you purchased. Click on withdraw and fill up the required information. Set the network to BNB Chain, and provide your wallet address and the amount you want to transfer. Click the withdraw button and wait for your BNB Chain to appear in your Binance Wallet.
- Choose a Decentralized Exchange (DEX): There are several DEXs to choose from; you just have to make sure the wallet you selected in Step 2 is supported by the exchange.
- Connect your wallet: Connect your Binance Wallet wallet to the DEX you want to use by using your wallet address from Step 2.
- Trade Your BNB Chain With the Coin You Want to Get
- Apply the swap: Once you are done with the previous steps, you can click on the Swap button.
Conclusion
That’s it! By following these easy steps, you can invest in SafeMoon in Australia in just a few minutes. After successfully purchasing SafeMoon you might also be interested in how to sell it. If you are then all you need to know is that selling SafeMoon is almost the same process as buying it. You can sell SafeMoon for cash or other cryptocurrencies. The only difference is that you will be navigating the ‘sell’ option. If there is no option for directly selling SafeMoon for cash, you can change it for other cryptos and later cash out. Hope this article helped you buy SafeMoon.
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