SafeMoon is a “to the moon” themed coin that emerged due to the success of Dogecoin.
About the Safemoon Founders
SafeMoon is led by John Karony, CEO, An All-Source analyst for the US department of defense. Thomas Smith is the CTO who previously serves as the CIO of Goldsmith Blockchain consulting. ACCORDING TO LinkedIn, the COO, Jach Haines-Davies, previously worked in Likeandshare LTD and Ben Phillips as media manager.
Any Different from Dogecoin?
The coin promises to be a safe bet for an investor. Why? Because investors will have to be charged 10 % if they try to cash in and sell. Every time an investor tries to sell his Coins, he/she will be charged a penalty tax of 10 % of which 5 % will be given to the current investor as a token for their loyalty. Because investors would be apprehensive of selling due to the penalty, the founders of SafeMoon believe the volatility of the coin due to selling can be controlled, a problem Dogecoin faces due to Market speculation.
Current value
SafeMoon has only begun trading for two months. Its price skyrocketed from $0.000000001 to $0.000013. The value of a safe moon as of 26th May is $0.000005008. A person who bought 10 $ worth of safe moon at its initial price would have made 13000$ at its peak.
How to buy SafeMoon
Investing in SafeMoon is complicated. You would first need to create a trusted wallet. Next, you have to convert BNB to a smart chain via the trust wallet and add Safemoon. Use Pancakeswap to convert Binance smart chain to Safemoon.
Here is a step by step process.
Verdict:
Investing in SafeMoon can turn a profit in the future, the only catch is the 10 % penalty tax charged on transactions. Like any other coin, investors should consider investing cautiously and consider the crypto market as one of the many sectors of their portfolio.
Official link
Also Read: DogeCoin, A Multi-Billion dollar joke of the decade
