HomeCrypto UpdatesUnderstanding Safemoon Coin: A Guide on Buying Safemoon

Understanding Safemoon Coin: A Guide on Buying Safemoon

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WHAT IS SAFEMOON COIN | HOW DO YOU BUY SAFEMOON | NEWS IN 2023

WHAT IS SAFEMOON COIN

Let’s learn full details about the latest trending safemoon cryptocurrency coin in 2021 & how do you buy safemoon on Binance, mining etc.

WHAT IS SAFEMOON COIN INTRO OF SAFE MOON CRYPTOCURRENCY FULL GUIDE WITH LATEST UPDATED PRICE

Okay, let’s talk about the safe moon. So safe Moon Is A Cryptocurrency, A crypto a token  whatever you want to call it, it was recently going viral, and you can argue that it’s still going viral. Maybe you’ve heard about it from your favorite celebrity influencers, Afrojack, little Yachty Keemstar Jake Paul and others, and everyone on social media, Facebook, IG, Twitter, tick-tock Reddit stock twits and random forums, and if you’re already a pretty advanced crypto user, you’re probably part of a lot of discord groups channels. You’ve probably heard this mentioned as well and probably seen some messages group chats on Telegram, or some other chat service that you’re using, whether it’s a pump and dump group or not the fact that the press, the traditional media groups are even talking about this right now and they’re still pumping out new articles, that’s when you know you’ve actually hit by reality on a whole different level. The point is definitely viral, big, a lot of people know about it people who’ve literally never even bought an altcoin they’re talking about safe Moon, I mean just look at the price chart history, the trends that’s literally visual representation of FOMO, you’re gonna see that big upswing right there, what some people may call a lot of sell-offs, and then you’ll see little consolidation periods as well. And here we are right now, it still hasn’t died down, there’s still a lot of buzz around this I’m sure a lot of people are still searching for it safe moon a scam is safe Moon legit, different variations of that, I’ll just tell you right now in the crypto world it’s really difficult to identify and even label something as a scam because there’s a lot of different ways to fabricate a scam and to even play an extremely long game.  

THE BASIC SAFE MOON FUNCTIONS

So basically safe Moon has three big functions that take place during a trade, and in this case, an example of a trade would be if someone holds safe mint tokens, and then they sell it. Alright so there’s 3 things that happen- The first thing is something referred to as static rewards, also known as reflection, there’s LP acquisition. So if you’ve ever heard about liquidity pools or liquidity providers, it’s probably something that’s really similar to this LP acquisition, and then finally there’s something referred to as burn-in any other class when you’re burning something, It’s probably going to have a negative connotation but in this case, you’re burning the tokens, of course there are exceptions, but generally in the crypto space when you’re burning the tokens and you’re potentially limiting the overall supply, that’s usually seen as something that’s good, it’s done in good faith, and it’s usually for the purpose of actually helping everyone in the community. Alright, so maybe everything I just said right now makes zero sense. Let me give you a real-world example of what happens when you have a safe moon, you actually decide to sell safe moon. So just know this context, it’s important to understand this. They actually discourage you from selling, which’s one of the best ways to discourage people from selling. And after a financial penalty for selling, and in this case, there’s an automatic 10% fee, whenever you sell, say for example if you sell $100 worth of safe Moon. Right now, there’s gonna be a $10 fee, here’s what happens to that $10 fee. Well, it gets split in half right so half of the $10 $5 that’s been distributed to all existing holders of safe mode, and that redistribution, that’s actually referring back to the first function that I talked about, that’s a static reward, that’s the Reflect.

SAFE MOON CRYPTOCURRENCY COIN REWARDING

It’s basically rewarding you for being a follower, a loyal holder, the other $5 that gets split in half again $2.50 So it’s pretty much a quarter of the original penalty. Alright so that’s $2.50, that’s a byproduct and throttles the other $2.50 that’s added as a liquidity pair on pancake swap and all of this is pretty much really liquidity, that’s the liquidity that I was mentioning earlier, so if you really think about it, what does safe Moon do well this protocol generates liquid and rewards its most loyal users and there’s a lot of room for loyal users, did I mention the total supply, right now there’s one quadrillion tokens quadrillion, most people have never even seen that number even visually on a piece of paper. It’s one with 15 zeros after but people don’t really care about that right now. They just care about the price because it’s so low, psychologically, it feels like you’re holding on to a lot more tokens, and the whole business model it rewards you for holding it penalizes sellers, and the whole thing about token burning, well, that also feels good too so that track comes more exclusive in the future, seemingly, so now that you know what it does, or at least kind of know what it does, team behind, you can just simply go on the site, it shows all of their faces, and you can also read about what they’ve done in the past as well. If you want to do all that backchecking their CEO is also pretty active on Twitter as well, but in general it seems like their team is pretty responsive and active on a lot of different platforms out there, whether it’s Reddit, discord, Telegram, or any other thing that you’re using, but with that said, there’s always a reason to doubt. So let’s talk about some of the controversies here in general, there’s a lot. We’re gonna call anything in crypto a scam, whether you like crypto or not, there’s just a lot of people who think this is a scam, I mean there’s some people who literally, look at the company business model and say that’s a scam because it punishes sellers, there’s even people who go deeper than this, who look at the source code of crypto. And there’s another project that was called B, that this is really strong and they say this is just a combination of four different other projects.so remember how I said this was really popular. Well there’s a lot of projects out there that are literally called Safe something maybe you’ve heard of safe star safe Mars safe horizon safe anything that’s the controversy around this is because a lot of people like this started a trend that’s not really good for the crypto world, the other controversy is, is there even utility to this.

WHAT’S THE PURPOSE OF SAFE MOON CRYPTOCURRENCY TOKEN

Seriously, what’s the purpose of this token,…

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