What is SafeMoon (SAFEMOON) ?

SafeMoon (SAFEMOON) is a decentralized finance (DeFi) token launched on March 8, 2021. It was developed to extract some volatility from the crypto market by encouraging investors to hold coins. It is a relatively new cryptocurrency that sets itself apart from other emerging DeFi systems by introducing static rewards. The reflect mechanism of SafeMoon (SAFEMOON) creates an incentive for its token holders. On the contrary, it imposes a tax of 10% on every SafeMoon transaction. Out of the obtained 10% tax, 5% is distributed to the token holders, and 2.5% is sold into BNB by contract. The remaining 2.5% gets automatically paired with BNB and added to PancakeSwap as a liquidity pair. SAFEMOON was created on the Binance Smart Chain blockchain and has a supply limit of 1,000 Trillion.

How does SafeMoon (SAFEMOON) work?

SafeMoon (SAFEMOON) token has three primary functions: Burn, LP Acquisition, and Reflection. Reflection refers to static rewards conditional upon the traded volume to mitigate the selling pressure on these coins and encourage the holding. LP acquisition refers to Liquidity pool acquisition where a portion of the imposed tax (5%) on SafeMoon transactions is automatically converted to the liquidity pool after the token count reaches a threshold of 500 billion tokens. SafeMoon is also famous for its manual token burning. It undergoes continuous burns that are announced and tracked publicly for increased transparency. This burning process manages the token scarcity and value. Through these approaches, SafeMoon claims that it can shoot its investors safely to the moon (highest point); however, it will be time-consuming to get there.

How to Buy SafeMoon (SAFEMOON) in India?

There are many platforms where you can invest and trade SAFEMOON securely in India.

One such platform is Flitpay. To buy SAFEMOON in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy SAFEMOON, and execute the SAFEMOON purchase.

You can instantly convert your INR to SAFEMOON and SAFEMOON to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After I Buy SAFEMOON?

SAFEMOON can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold SAFEMOON till it reaches a high price and then can sell it through the FLITPAY "Quick buy and sell"" facility. Users can earn significant profit from buying it at a lower price and selling it at a higher price.

Besides that, SAFEMOON gives the advantage of earning rewards to its long-term holders.

Why Use Safemoon?

SafeMoon encourages its holders to hold it for a long term instead of trading it in a volatile market. It uses a penalty approach for this purpose where anyone who sells their SAFEMOON suffers a 10% penalty. A significant part of this penalty fee is distributed to the SafeMoon holders as a reward. This way, SAFEMOON gives a comparatively safer way to grow investment to its holders without taking the risk of trading. Also, the burning mechanism of SAFEMOON effectively maintains the scarcity and value of the coin with time. The manual token burning of SAFEMOON instead of continuous burns can be announced and tracked publicly which further increases the transparency of its network.

FAQs

What is SafeMoon (SAFEMOON)?

SAFEMOON is a BEP-20 token launched to reward its holders for balancing the liquidity of its crypto market. It is a unique and relatively new decentralized finance (DeFi) developed on the Binance blockchain.

What is the SafeMoon (SAFEMOON) price in India?

Check out the LIVE! INR price of SAFEMOON crypto in India on Flitpay.

Which is the best platform to buy SafeMoon (SAFEMOON) in India?

The best crypto exchange to buy SafeMoon or your favorite cryptocurrencies in India is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the Benefits of Safemoon (SAFEMOON)?

SafeMoon focuses on solving the major problems like liquidity balance and mining rewards that are faced by other cryptocurrencies. It does so by introducing static rewards for its long-term holders and penalties for its traders.

Is it safe to invest in Safemoon (SAFEMOON) in India?

Yes, investing and trading SAFEMOON is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges to invest in SAFEMOON crypto. It offers the most real-time prices and advanced investing features.

Is Safemoon (SAFEMOON) a Good Investment?

SAFEMOON gained good popularity in a short time. Its price saw a good performance many times. However, it has no real-world utility. It can be a good investment option at a time of high volatility.