How to buy SafeMoon on Bitmart is a simple process, and in this article, I’ll show you how that is done.
With BitMart, users can buy SafeMoon as it is one of the few larger exchanges around. Users can buy SafeMoon on BitMart with Tether (USDT) only.
Although it will take longer than buying the commonly available cryptos like Bitcoin, the process is still relatively simple and many people want to know exactly how it’s done on Bitmart.
What is SafeMoon?
SafeMoon is a Binance Smart Chain decentralized finance token. Holders’ value is derived from supply depreciation.
This is accomplished by applying a % penalty fee, or tax, on any SafeMoon token sellers. This penalty discourages those who sell SafeMoon while rewarding those who hold it.
It was first released in March 2021 and has progressed significantly since then. Meanwhile, SafeMoon is currently placed #144 in the world cryptocurrency rankings and is aiming to break into the top hundred soon.
SafeMoon V1 vs. SafeMoon V2
According to the SafeMoon website, SafeMoon V1 is no longer supported. Migration to SafeMoon V2 is now underway. For SafeMoon V1, a 100% transaction charge has been implemented to encourage migration. Swapping SafeMoon V1 tokens for SafeMoon V2 tokens are free of charge.
Aside from the migration, changes have also been made to the 10% fee allocation. Previously, 5% of SafeMoon V1 revenue went to liquidity pools, which are a collection of funds that allows for decentralized trading.
The other 5% was distributed to token holders. The 10% tax distribution in SafeMoon V2 has been updated to the following:
- 4% is redistributed to all existing token holders
- 3% goes to the liquidity pool
- 2% of tokens are burned and removed from circulation
- 1% goes towards the SafeMoon Ecosystem Growth Fund.
Is SafeMoon Legit?
SafeMoon has been heavily criticized by the media and crypto influencers. Even strong SafeMoon advocates have expressed disappointment over the failure to receive promised redistribution payments for holding the token.
The fact that SafeMoon is facing a class-action lawsuit for defrauding and misleading investors is more worrisome. Many analysts believe SafeMoon shows all of the hallmarks of a Ponzi scam and that the token has no value.
What is BitMart?
BitMart is a centralized exchange based in the Cayman Islands that was launched in 2018. BitMart has 9 million consumers and allows crypto trading in more than 180 countries.
Also, BitMart offers a mobile app available for download on the Apple App Store and the Google Play Store, with ratings of 4.6 stars and 3.0 stars, respectively. Users can trade over 1,000 cryptos, use its staking services, and buy and sell NFTs.
They focus on bringing newer coins to users as quickly as possible in order to make cryptocurrency more accessible to the general public.
Their goal is to provide financial freedom to individuals from different walks of life by providing them with access to all types of investment opportunities available throughout the world.
Is BitMart Safe?
Based on web traffic, liquidity, transaction volume, and legitimacy, CoinMarketCap offers BitMart a 5.5 out of 10 rating. FTX and Binance, on the other hand, are among the best cryptocurrency exchanges, with scores of over 8.5 and 9.9, respectively.
BitMart states that trustworthiness, accessibility, and professionalism are its main priorities. While it is one of the world’s largest exchanges, there have been a few issues.
BitMart touts itself as the “most trusted cryptocurrency trading platform.” However, it was hacked in late 2021, resulting in numerous customer complaints.
The main problems highlighted by BitMart users were the non-return of promised funds and a lack of communication with the company.
How to Buy SafeMoon on Bitmart
SafeMoon could only be bought via the trust wallet initially. For security reasons, one must create a wallet on the trust wallet network and memorize a recovery phrase. They would then be granted access to the wallet.
Then, by exchanging Binance smart chain, add Safemoon. Any fiat-based currency, like US dollars, could not be used to buy SafeMoon.
To obtain SafeMoon, you must first buy a Binance smart chain, which must then be exchanged for SafeMoon. Other than Binance smart chain, no other cryptocurrency or token could be used to exchange for Safemoon at the moment.
Bitmart, on the other hand, has gradually adopted Safemoon and is now offering its customers a more convenient and streamlined way to buy this crypto token by offering exchanges in other stable coins.
To buy SafeMoon on BitMart, there are a few steps to follow:
1. Create a Bitmart Account
Bitmart is compatible with both Android and iOS, so you don’t have to worry about compatibility. Simply go to the app store on your phone and download the app.
After that, you must create an account on their platform using either your email address or your phone number, or both.
This step will give you access to most of the Bitmart platform’s features, but if you want to buy or sell SafeMoon, you’ll need to go through the “Know–Your–Customer” procedure and verify your identity by providing a government-issued financial or other forms of identification.
After that, you can buy and sell any cryptocurrency or token available on the platform at your convenience.
2. Make a Deposit
After you’ve completed your KYC and have full access to all Bitmart features, you’ll need to make a deposit into your account before buying SafeMoon.
You’ll find a “Buy and Sell” button in the upper left corner of your main screen to fund your account. When you click it, you’ll be redirected to a page where you can buy bitcoin, Ethereum, and other stable coins.
Bitmart is available in 180 or more countries throughout the world, so finding your native fiat money on the exchange platform shouldn’t even be an issue.
You can also use the US dollar, the pound sterling of the U.k, the Japanese yen, and the Indian rupee. Whatever currency you select, the rate of the required amount will be shown in that currency.
3. Buy USDT
It is highly recommended that you buy a Tether coin, often known as “USDT,” using your country’s fiat currency once you are on this page. Tether is a US dollar-denominated stable coin.
At any given time, one Tether is always equal to one US dollar. If you want to buy SafeMoon on Bitmart, the Tether is your best option.
Tether is the cryptocurrency version of the US dollar. It is much less volatile and is tied directly to US Dollar price fluctuations.
This coin would be perfect for exchanging SafeMoon tokens whenever you pleased. You can use Safemoon tokens to exchange a variety of other cryptocurrency tokens and coins, in addition to SafeMoon tokens.
4. Trade USDT/Safemoon
You don’t need to do anything else now that you have Tether. Go to the market section of your BitMart’s main screen and search for the SafeMoon token in the search bar.
Once you’ve found SafeMoon, choose the option to exchange it for a Tether (USDT). “SAFEMOON/ USDT” will be displayed on the screen. Choose this combination and the amount of SafeMoon you would like to purchase.
The system will show the equivalent cost in Tether. SafeMoon will be safely deposited in your BitMart account once you have completed your order.
This balance can be kept in your Bitmart account indefinitely for as long as you like, and you can use it for whatever you wish, including investment and day trading.
Bitmart SafeMoon Price
In the blockchain world, there is no cryptocurrency whose price does not change or fluctuate. As a result, there is no fixed pricing for safeMoon.
However, the following is the most up-to-date information about safe moon that is currently available on Bitmart.
Price to USD: $ 0.0000035
Close price: 0.0000035 USDT
Market rank: 1,221
Base currency: SafeMoon
Buying SafeMoon tokens is more difficult than buying or selling well-known cryptos like Bitcoin or Ethereum, but there aren’t many other options.
SafeMoon’s legitimacy is questioned to some extent due to its lack of availability on reputable exchanges. Consumers should always carry out research before buying crypto, but for those interested in buying SafeMoon, BitMart is a viable option.
Will SafeMoon be on Coinbase?
SafeMoon is not supported by Coinbase.
Is there a way to buy Safemoon?
Go to CoinMarketCap and search for SafeMoon. Tap on the button labeled “Market” near the price chart. In this view, you will see a complete list of places you can purchase SafeMoon as well as the currencies you can use to obtain it. Under “Pairs” you’ll see the shorthand for SafeMoon, SAFEMOON, plus a second currency.
Is BitMart a good wallet?
BitMart is a decent option for moderate and advanced crypto traders who want access to a wide range of coins and futures trading with leverage, all with reasonable trading fees. This exchange offers a large selection of cryptocurrencies to purchase and trade, especially those looking for less popular crypto options.
What platforms can I use to buy SafeMoon?
There are a number of platforms where people can buy SafeMoon. Some of the top exchanges to buy SafeMoon are BitMart, Gate.io, MEXC, LBank and WhiteBIT.
Where can I buy SafeMoon BitMart?
People can buy SafeMoon on BitMart with USDT. BitMart is available in over 180 countries worldwide.
Is BitMart a wallet or exchange?
Launched in 2017, BitMart is a digital asset exchange/cryptocurrency exchange that has adopted an advanced multi-layer and multi-cluster system architecture to ensure the security, stability, and scalability of the system.