If you want to build up a fortune with your savings, you need information. Investing blindly inevitably leads to losing money. However, it is not only about the lack of knowledge, but also about the fear. The fear of loss – and I try to take it away with my texts.
As a freelance copywriter, I have placed my focus in the direction of the financial market – here especially with a view to shares and cryptocurrencies. Here we are not only dealing with very exciting topics, but also with the possibility of placing signposts to put interested parties on a promising path.
With a comparatively steep rise in prominence, Safemoon 2021 finally reported to the crypto arena. Since then, many investors have been asking themselves whether they should buy Safemoon or rather invest in another crypto coin. This is exactly the question we have been exploring. Right at the beginning it can be stated that the Safemoon project has some interesting goals. But great visions, as we all know, are not everything.
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Safemoon at a glance: What is Safemoon?
Safemoon coin is one of the most well-known cryptocurrencies. This is quite a surprise, because the project was only launched in 2021. However, they chose a smart way from the beginning and so Safemoon is based on the Binance Smart Chain Blockchain. This can only help the trade. In addition, the token has received a lot of prominent encouragement especially in recent months. Thus, between April and May 2021 alone, the value increased by more than 23 percent. Justified by new investors such as well-known Youtuber, who were thus also able to create a little hype in the social networks. Then, at the end of 2021, Safemoon further developed its own project and created V2 as a successor to V1.
We have therefore taken a closer look at Safemoon below. Here we have both the development of the last few months under the microscope and a possible forecast for the future established. In addition, we’ll show you where to buy Safemoon and what to look for when investing in the coin.
How Safemoon works?
Like many other Kyptocurrencies, Safemoon aims to decentralize finance. A so-called DeFi token is based on the Safemoon protocol, each transaction also triggers three different functions. On the one hand, this is the burning of tokens, on the other hand, the reflection as a static reward and the procurement of a liquidity pool (LP). The fees incurred for the transactions are split up. A total of ten percent transaction cost is incurred, five percent of which goes directly to miners as rewards. The other five percent will be cut in half again. Half is sold to NBN, the other half is converted to a liquidity pair through a smart contract, and then added on pancake swap. A significant advantage and at the same time the decisive factor for the fees is the fast processing of the transactions here.
However, Safemoon actually pursues a completely different goal. Traders with a low annual rate usually have few options to LP farms. These often require a certain annual rate, which can not be afforded by beginners. Safemoon reduces this required annual rate to make it easier to access LP farms. A price floor for holders is also set, so as to be able to stabilize the liquidity pool.
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Safemoon buy and sell: These are the options for investors
If you want to buy Safemoon, you have several options for investment. Certainly the classic in this case is the investment directly in the coin. So you buy Safemoon coins for your money. If the coin goes up, the value of your investment goes up as well. Alternatively, you can also use so-called crypto ETFs. This is a collection of several cryptocurrencies. These are bundled for a joint investment. So, in this case, you can buy Safemoon, but at the same time invest in other cryptocurrencies as well. Which exactly, varies depending on the composition of the ETF.
A third way to get started trading is with crypto CFDs. These are treated like classic currency pairs in Forex trading. So here you are not investing directly in the coin, but speculating on the prices of the Safemoon. Depending on the investment, you can profit from rising or falling prices.
To buy Safemoon or not: Top arguments
1. Social media hype can be over quickly: Safemoon is not one of the traditional cryptocurrencies of the "first hour". Instead, this Coin is only since the middle of 2021 so really on everyone’s lips. Primarily because the coin was enormously hyped via the social media and could enjoy investments of famous YouTuber and other social media stars. For a short-term hype such investments are worth their weight in gold. However, these increases are usually not really sustainable. Investors should therefore keep in mind that hype on social media can end just as quickly as it arrived.
2. Dubious reputation shed: Precisely because Safemoon was pushed, especially in social networks, many investors have deliberately refrained from investing. The coin was notorious as a "viral coin", but in the meantime it has been able to shed this dubious reputation. One of the reasons for this are the regular security checks. In December last year, the coin achieved a security score of 91 (out of a possible 100) in CertiK’s check. The rating company Comics has also assigned a transparency rating of A. In other words, independent bodies confirm the transparent mode of operation.
3. Remains the fees? The Safemoon project offers some advantages, especially in the speed of transaction settlements. However, exactly these also have their price. Fees are charged for all transactions. As the past has shown, such additional costs are not necessarily a favorite word of investors. The development of Safemoon in the coming years will also depend on how the fee model is designed in the future and whether the competition will undercut these fees.
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Investing in Safemoon: This is how you proceed
Newcomers often find it difficult to trade on the stock exchange and in crypto trading. This is actually not as complicated as it seems at first glance. Below, we have formulated a small clear guide. You can "shimmy" along these if you would like to buy Safemoon for the first time.
Coin, CFDs or ETFs: set up an investment plan
Before you start your investment, you should make an investment plan. This means that you question the direction of your investment. As you’ve learned, you can invest in crypto coins in a variety of ways. There are differences between the investments. Especially when investing in an ETF or the coin directly, this is usually planned for a long time. So you should only put money in your hands that you won’t need in the next few years. If you decide to trade CFDs, the investments are much shorter term and, depending on your wishes, only valid for a few minutes. Among other things, this is why CFD trading is considered a riskier investment.
Where to buy Safemoon? Of course, you need to be able to answer this question before you start your investment. There are countless brokers in question on the market. But not everywhere you will find the same conditions and framework conditions. Before you invest, you should therefore take a close look at the conditions of the provider. If fees are high, they also have a big impact on your returns. In addition, you should also pay attention, for example, to features that are particularly important to you in trading. The better the broker fits your needs, the more comfortable you will feel when trading.
Once all the preparations are made, you can buy Safemoon. Again, of course, you should not just go all in. We advise you to spend only as much money as you can afford to lose. There is always a certain risk with a financial investment. Therefore, you should not use money that you might need elsewhere. It is also advisable to diversify the investment. This means that you do not invest your entire capital in just one coin. So, if you want to buy Safemoon, you should not put all your capital on this "card". The more diversified your portfolio is, the lower the risk for trading is.
The best brokers for trading with Safemoon
If you want to buy Safemoon, several brokers in Germany come into question. A fine thing, although the large selection does not exactly make the overview easy. We want to help you and present in the following once three strong offers for trading with the Safemoon.
One of the most well-known brokers on the market is the broker BDSwiss. The broker has a wide range of products, which is also constantly being expanded. Currently, more than 1.000 underlyings tradable, hau beside the cryptos above all also currency pairs in the Forex trade belong. BD Swiss offers a license from the authorities of Mauritius and can be called a serious contact point by this official control. Who wants to use PayPal for Safemoon buy, is not quite at the right address here. Alternatives such as Neteller, Skrill, Giropay or Sofortuberweisung are available for this purpose.
Also pleasant to evaluate if you want to buy Safemoon: When withdrawing from the trading account, there are no fees for sums of 100 euros or more. If the withdrawal is less than 100 euros, a flat fee is charged.
Advantages and disadvantages of BDSwiss
Licensed by the financial authorities from Mauritius
More than 1.000 underlyings on offer
Intuitive design provides quick orientation
Great variety in the cash area
– Withdrawals only free of charge from 100€
Especially beginner-friendly is the entry into crypto trading at the broker Bitpanda. This is a broker that was founded in 2014. Since then, the focus has been primarily on attracting young traders to financial trading. Bitpanda attracts for this with a low minimum deposit of only one euro for trading. In addition, you can rely on an official license from the competent financial authorities from Austria.
The fact that the entire offer is aimed at newbies can be seen within a few moments. The interface is intuitively designed and focuses mainly on the essential trading functions. The security of the broker is also underlined by the enormous customer base. More than three million traders are already active here.
Advantages and disadvantages of Bitpanda
Invest from as little as 1€
Cryptos, stocks, ETFs, precious metals and crypto indices
Secure license from the FMA in Austria
Optimized for newcomers
– Fee structure not always immediately apparent
A very special broker for crypto trading is Binance. Most brokers offer different fiat currencies for trading, such as the euro or US dollar. Binance does not. Trading is possible here exclusively with cryptocurrencies. For this, Binance has an impressive variety and can offer you more than 200 coins for trading. The fact that the renowned British financial supervisory authority is watching over the offer is also to be rated highly. You definitely do not have to worry about the seriousness here.
Binance also offers fair conditions for trading. 0.1 percent of the trading volume is retained as fees. If you trade with the in-house BNB Coin, you can reduce the fees even again by three quarters. The only catch: the broker’s website is only available in English so far.
Advantages and disadvantages of Binance
Over 200 cryptocurrencies tradable
License from the British financial supervisory authority FCA is available
Trading possible via browser and attractive app
Fair fees of only 0.1% of the trading volume (reducible up to 0.025%)
– Website not available in German
3 top tips for buying Safemoon
- 1. Trade with the broker that suits you: You should only buy Safemoon from a broker that suits your needs. The choice is significantly decisive for your further course as an investor. So you should take your time in deciding. By the way, it is also advisable to register not only with one broker, but with several providers. On this you can balance possible weaknesses of one broker with the strengths of another broker.
- 2. Mitigate risk through diversification: Risk in any investment should always be kept as low as possible. A key point here is diversification. You should always spread your capital over several investments and not put all of your capital into just one coin. If you want to buy Safemoon as a particularly conservative investor, the crypto ETFs may be a better choice. These offer a significantly lower risk compared to individual investments.
- 3. Staying Attentive: How the crypto market is evolving? How does Safemoon progress? As an investor, you should regularly ask yourself these questions. You must always keep an eye on the market to adjust your trading accordingly. As a reminder, crypto trading is enormously volatile. Short-term, extreme price fluctuations should therefore at best not worry you in the process.
Safemoon Forecast& Price development: Text
Safemoon’s price performance has been largely driven by two things so far: The hype on social media and the hype that has been created around kyprocurrencies in general. But the really "hot phase" for the coin is yet to come. Safemoon says it has big plans that want to be put into action. Among them, for example, the development of its own blockchain and crypto language. In addition, a macro structure for the Internet of Things is to be launched. These projects are probably most important for the development and price of the coin. That you are on a good way, the 2021 launched version V2 has already shown. Fittingly, the price of Safemoon rose sharply at the turn of the year 2022.
However, every trader should be aware that Safemoon, like all crypto coins, is characterized by an enormously volatile price. So at the time of our advice, the seven-day performance was down almost six percent. The 14-day performance again at a strong plus of over 55 percent. Such a course is likely to continue to determine the appearance of Safemoon in the coming years. In other words, the investment is not for the faint of heart.