Safemoon is one of the world’s fastest-growing cryptocurrency.
It’s now a popular community-driven DeFi token, and investors are much interested in acquiring it into their investment portfolio.
But why is it so…?
Keep reading to get the rest of the information behind this cryptocurrency that is getting everybody’s attention.
I’ll also show you how to buy Safemoon ($SAFEMOON) on Binance and PancakeSwap with Trust wallet.
Before we start, let me take you through everything you need to know about this popularly known DeFi (Decentralized Finance) token.
What is Safemoon token?
Safemoon is a decentralized finance token created in the BSC (Binance Smart Chain) blockchain.
It’s one of the major altcoins on the Binance exchange that has rewarded its early investors up-to 20,000% ROI in just 3 months.
For instance, let’s say you bought $20 worth of Safemoon at $0.000000001 each, and now the value is about $0.000013, you’ll be $26,000 richer.
Quite awesome, right?
Now that you know about the popular Safemoon token, let’s go over to where I’ll be guiding you on how to buy it.
How to buy Safemoon crypto
In order to buy this token, we’ll need to purchase Binance coin (BNB) first, then swap it for the coin on a decentralized exchange for SAFEMOON.
Binance is one of the best cryptocurrency exchanges, and it’s fundamental to register and complete KYC on the platform.
Below are the processes in detail, you will need to follow thoroughly to acquire any amount of Safemoon.
Purchase Binance native coin
To invest in this token, you need to have BSC token in your possession, which will be exchanged on PancakeSwap using either Metamask or Trust wallet.
Practically, we are going to focus on using Trust wallet mobile app for better understanding and clarity.
In other words, you’ll need to have these things in-place before starting:
- Download Trust wallet from either Google Play Store or Apple App Store (Depending on the mobile gadget you have)
- Set up and save the recovery phrase with the Private Key (In-case you hit a wall and need to recover your funds)
- Finally you will need to find and activate BNB coin address on Trust wallet.
You can buy the Binance native token coin with FIAT currency on Trust wallet, or directly from Binance platform.
Transfer BNB to Trust wallet
If you bought the BNB using Trust wallet app, you can skip this step. Otherwise, you have to transfer your token over to the mobile wallet.
On your Trust wallet app, locate and find your BNB wallet address, then paste it on the exchange and send the coin.
If you do it correctly, you will see notification that you have receive certain amount of new Binance coin in the wallet.
Without wasting much of your time, let me get going with the process on how to buy Safemoon with Trust wallet app safely.
Convert the BNB to BSC
Firstly, you have to decide how much of BNB you would like to invest in Safemoon before initiating the swapping process.
Because at this stage, you need to convert BNB (i.e. Binance coin) to BSC (Binance Smart Chain) token.
To be on the safer side, you should swap all the BNB coin you bought to BSC right there on your Trust wallet.
Once you finish converting the BNB to BSC, you will see your funds and balance on the mobile wallet app status bar.
At this point, you’re now ready to acquire Safemoon token with the Binance Smart Chain token you just got by swapping.
Swap BSC to SAFEMOON
Pancake swap is the primary exchange for acquiring Safemoon. So you will need to connect the wallet to the DApp browser.
Enabling the DApp browser will help you to connect to the blockchain and be able to get access to the token vault and pool.
Now that you’re connected to the exchange vault, search and look for SAFEMOON token using the search bar.
NOTE: You will pay 10% on any Safemoon transaction, so the slippage tolerance must be set to 12% on the Trust wallet fee settings. Otherwise, the transaction may not go through
However, the trade only will be successful once you’ve followed these steps until this extent.
Frequently Asked Questions
Enable Safemoon on Trust wallet
Since you have successfully acquired SAFEMOON token, it’s then time to HODL it, while safely waiting for the value to skyrocket!
But how do you get to be seeing your Safemoon fund price on your wallet?
You will need to find and copy the contract address that is made available on the Pancake swap exchange during your purchase.
Once you’ve copied it, head to Trust wallet and add custom token by pasting and saving the contract information you copied earlier.
At this point, Safemoon will be displayed alongside other cryptocurrencies you have already (If any).
Do not forget that you can also use a hardware wallet (like; Ledger Nano X/S) to store your crypto investment for the long-term purposes.
