How to buy SafeMoon on Binance: DotBig Review
Wondering whether buying SafeMoon on Binance is beneficial for you? DotBig has studied reviews of crypto-traders to provide you with this short DotBig review on buying SafeMoon.
Introduction to the token
The SafeMoon company was started in 2010, but its first digital protocol was released in 11 years. Today, the developer, which is one of the most popular providers of blockchain and metaverse solutions, has over 2 million clients and partners.
SafeMoon is a deflationary coin, which means its price will increase in the future. The token applies the reflection concept. In a nutshell, half of the tax required to perform a SafeMoon transaction is distributed to other holders of the coin. The remaining 5% goes to cover the liquidity needs of SafeMoon.
It also performs the burn. When the tokens are burned, their supply is decreasing. When the supply of digital currency goes down, the price per single token might go up.
The described functions of the token are, probably, the major reason why the number of coin holders is constantly increasing. As suggested by experts, reflection and burn make coins more stable, therefore, more attractive for long-term investments.
Where SafeMoon is listed
The SafeMoon is a coin listed on forex brokers, crypto exchanges, and trading platforms. Here are the best places to buy tokens:
- eToro — one of the best forex brokers of Europe, where you can trade not only cryptos, but a number of other instruments, including currency pairs, stocks, indices, and commodities;
- Binance — a cryptocurrency exchange that introduces new coins;
- Coinbase — the best crypto trading platform for inexperienced traders;
- Crypto.com — the most respectable name in the crypto-trading industry, known for the high level of security;
- Kraken — offers the lowest required prices.
When to invest in SafeMoon
In order to invest in assets, you need to be aware of how the price of a token can change. Here is a comparison table describing how the price of the token has changed in the timeframe between the 14th and 16th of February.
As you can see, the price has increased by 16.3%. According to this price rate change, you could convert a 1 163 USD profit from a 1 000 USD investment.
How to buy on Binance in the US
We consider Binance.com to be the best place to invest in digital tokens. Except for its own token called BNB, the exchange introduces users to many new and prospective coins. SafeMoon is one of them. Here is a step-by-step guide on how to purchase this token on the platform:
- Proceed to the official website of the exchange or download its mobile app.
- Fill in the registration form and create a personal profile.
- Confirm the verification of your ID documents;
- Deposit funds;
- Buy SafeMoon.
In order to avoid all the risks related to trading SafeMoon, buy the tokens only on trusted exchanges or forex brokers. Also, keep in mind that all cryptocurrencies are volatile and can rapidly increase their values as well as decrease them.
Follow our blog here, on Medium, to be always aware of the latest updates in the crypto-trading industry.
Review from Dotbig.