SAFEMOON has seen its price rise by 1,550% since the start of March.
What is SafeMoon?
SafeMoon is a community-driven, fair-launched token and the fastest-growing decentralised finance (DeFi) token on Binance Smart Chain. The project announced this week it had partnered with crypto infrastructure provider Simplex to offer streamlined and integrated SafeMoon wallets.
The partnership enables millions of people around the world to buy SafeMoon quickly, seamlessly and securely. SAFEMOON has seen a trading volume of $37 million in the last 24 hours as traders line up to buy the coin, anticipating a rise.
To put this into perspective, SAFEMOON price has risen by 1,550% since the start of March.
Where can I buy SafeMoon?
To purchase SAFEMOON on Coin Kong, users will need to register an account. Coin Kong connects customers to the most premium brokers available in their countries, and automatically lists those offering the lowest commission deals in the market. Coin Kong offers all the major cryptocurrencies, including Bitcoin, Ethereum, 100s of altcoins, and those newer ICOs. It’s the preferred option for traders looking to grow their portfolios with access to the best coins in the market. Please note: this platform is only available to non-US customers.
How is SafeMoon different from Dogecoin?
Both coins have made the headlines this year after meteoric rises. However, while DOGE has an unlimited supply, SAFEMOON’s manual burn strategy makes the token deflationary.
— Simplex (@SimplexCC) May 25, 2021
Many people talk about Dogecoin going “to the moon”, but for SafeMoon, it’s part of their roadmap. The new partnership with Simplex enables users to invest in SafeMoon much more directly and will likely onboard many more investors, bringing the moon one step closer.
SafeMoon has three functions: reflection, LP acquisition and burn. Every SAFEMOON transaction incurs a 10% fee. Half of this is redistributed to all SAFEMOON holders. 2.5% is sold for BNB and the other 2.5% is paired with that BNB to generate liquidity that goes into pools used by exchanges.
The static rewards incentivise users to hold their SAFEMOON for longer and watch their balance grow. SafeMoon also implements a manual burn strategy and the team has burned over 416 trillion SAFEMOON so far.