Investors looking for the next Dogecoin are piling up in the recently launched SafeMoon crypto
Dogecoin (CCC: DOGE-USD) jumped to an all-time high above 40 cents during this summer. Cryptocurrency enthusiasts have upped the meme coin, with Dogecoin’s prices generating a frenzy on Wall Street. Now, some people on social media think they’ve found the next Dogecoin …
in a newly launched token called SafeMoon (CCC: SAFEMOON-USD). So what is SafeMoon? And what are SafeMoon news and price predictions now?
For starters, SafeMoon is relatively new. The token, in fact, was launched in the first quarter of 2021. It comes from the SafeMoon protocol, a decentralized finance startup (Defi). In essence, SafeMoon wants to help cryptocurrency bulls get to the moon, only in a safer way. To do this, he says he builds rewards for people who hold their tokens for a longer time. Those who sell also suffer a penalty.
According to the company, the SafeMoon protocol is based on three functions: reflection, LP capture, and mastering. These three functions are related to its initial goal: sellers have to pay a 10% transaction fee. Investors should note that half of that fee is redistributed to all existing token holders.
So what else do you need to know? Although there is little information on SafeMoon, the company expects a major expansion in the coming months. These growth plans are helping to bolster SafeMoon’s price predictions.
Importantly, the company has already confirmed an exchange pair with Dogecoin, allowing cryptocurrency users to trade the two coins. In the coming months, he says he plans to develop an NFT exchange, integrate SafeMoon with video games, push to Africa, launch an educational app, and complete their SafeMoon exchange. SafeMoon has already raised $700,000 of the $1 million it needs to launch its exchange. Additionally, the founders of SafeMoon say that two new trade listings are on the way.
Safemoon news – price today
What is SafeMoon?
Currently, there are many interesting projects, especially the blockchains that underpin them. Among those that aim to facilitate the spread of Decentralized Finance (better known as Defi ), to bring together several different blockchains and those of Oracle (which offer themselves as a bridge between the virtual and the real economy).
SafeMoon is one of the latest cryptocurrencies to be launched. In fact, it has risen since March 2021, and yet, in mid-April, it was already recording a spike that took it to 0.00001399. In the span of a couple of months, the market capitalization has exceeded $ 5 billion, while the increase is more than 2 million percent.
SafeMoon is a Defi protocol and is Community Driven. Its purpose, clearly written on the whitepaper, is to incentivize those who own the token. Therefore, the more it is bought, the more its price increases and the more it discourages the sale. In this way, more tokens are burned.
The protocol provides for a 10% commission on sales, distributed for 5% to current holders. While the remaining 5% is converted into Binance Coin (BNB) and is used to implement liquidity always on the PancakeSwap platform.
The project also includes a philanthropic part, as part of the profits will be donated to charity in Africa. While most of it is intended for listing on exchanges, as well as the emergence of tools that can spread its use. Like:
- exchange for NFT
On Twitter, the Safemoon community boasts over 650,000 followers. While on Telegram it goes towards 140 thousand members.
SafeMoon has removed the spotlight from Dogecoin, a cryptocurrency born as a joke in 2013 and which, also thanks to the tweets of Elon Musk, has experienced incredible price increases.
However, we are at the same speech made several times for the Dogecoin: we need to understand if this hype is just a momentary phenomenon or there is something solid at the base.
However, it would seem so, given that part of the profits is invested in technologies that will have to be useful for this purpose.
SafeMoon news: the project
The project behind Safemoon is very ambitious and according to many analysts, it is worth investing now in something whose value is destined to rise in the future.
After all, several major exchanges have included SafeMoon in their list. Among these, we mention:
It will also soon be listed on the Binance exchange, as CEO and founder Changpeng Zhao admitted he was fascinated.
This event will be very important for SafeMoon and will consolidate its position and credibility.
Although it should not be forgotten that SafeMoon has launched a crowdfunding campaign (fundraising) to create its own decentralized Exchange.
Among the goodies of SafeMoon, we remember the smart contracts managed by blockchain. In this way, those who invest in this project can earn interest, obtain loans and carry out trading operations.
All this, without the need to resort to expensive intermediaries and manipulators.
SafeMoon news – Is it all a scam?
When it comes to alternative coins, newly born cryptocurrencies, and SafeMoon news, the skepticism is high.
Let’s start with the fact that a quadrillion tokens (or 1,000 trillion) have been issued. An impressive volume.
There are also doubts as to whether it can go too far in price. For example, there are those who have done the math in the event that its price reaches one-hundredth of a dollar. In that case, it would also reach a market cap of $ 100 trillion. Virtually a quarter of the wealth of the entire world.
In addition, it also needs to be clarified what the true long-term purpose of SafeMoon is. For some skeptics, it’s yet another pump and dump vector. The phenomenon multiplied with the advent of cryptocurrencies.
Various tweets, for example, have suggested that SafeMoon is the focus of an online consortium of coordinated day traders. They are doing something similar to what the WallStreetBets subreddit did with some stocks in early 2021. They are acting collectively to save them from short-handed hedge fund speculation. Above all, the GameStop case caused a sensation.
increase in SafeMoon prices, therefore, could simply be the result of coordinated groups of activities on platforms such as Reddit and Discord. Or the practical consequence of brainwashing posts on Twitter, YouTube, or TikTok.
Probably, according to skeptics and detractors, SafeMoon is the classic case of a financial bubble. Which sees its price increase in a vicious circle, the more people invest in it.
Generally, regardless of what the true nature and purpose of SafeMoon are, at some point, a good portion of the investors disengage from the project to collect. And the price will plummet.
However, you can protect yourself from this through CFD trading, which stands for Contract for difference. Below we explain what it is and the best brokers to do it.
How to buy Safemoon with CFDs: the alternatives
Contracts for difference, better known by the acronym CFD, are standardized contracts. So you won’t have to learn its function every time, as you will always be faced with the same type of contract.
They are derivative contracts, as they faithfully express the value of an underlying. In this case, SafeMoon cryptocurrency. Thus, you will not buy cryptocurrency directly, but a contract that expresses its value.
The real advantage of buying Safemoon with CFDs is that you can speculate both up and down on the cryptocurrency, positioning yourself long or short.
Therefore, even if SafeMoon falls in price, by betting short, then on the downside, you will still be able to earn. Which you cannot do if you own it directly, since you will end up with a devalued asset of facts.
Furthermore, with CFDs, you can also count on a multiplier such as the financial leverage. Therefore, you can reduce your stake to half (ESMA for trader retails provides a 1: 2 cap on the leverage of cryptocurrencies), while earning the same amount that you would have earned if you had invested the full amount.
But also remember that in the event of an incorrect forecast, leverage will also multiply the loss by the same level, but to your detriment. So, use it sparingly, so that you end up with bad bills.
Now let’s see the best brokers to invest in cryptocurrencies with CFDs.
The eToro broker is the first choice that we list for 3 reasons:
- the licenses it boasts
- the many services it offers
- contained costs
In the first case, in fact, eToro boasts 3 licenses to operate: CySEC, FCA, and ASIC. Issued in Cyprus, Great Britain, and Australia respectively.
As for the second point, you will find yourself in the presence of a broker who provides among others:
- the ability to copy the best traders registered with the broker (Copy Trading)
- the ability to interact with traders from all over the world registered on the platform
- the ability to use it both as a CFD broker and as an Exchange. With the eToro service
- the possibility of investing in asset packages organized by eToro itself, thanks to a mix of artificial intelligence and human experience: the CopyPortfolios
As for the third point, eToro is a spread-only broker. Which does not provide for spreads on trades but only commissions.
OBRinvest is a very interesting broker. It is also multi-licensed, having licensed CySEC and FCA.
But the real strength of OBRinvest is training. As for the theoretical training, you will be able to download eBooks immediately after registering for free on the site. In addition, you can follow webinars organized from time to time, the scheduling of which is announced on a special calendar.
As for the practical training, you will have an adequate demo account of 100 thousand virtual euros, to be used calmly without time limits.
OBRinvest provides excellent commissions and spreads, lower than the market average.
The Capital.com broker closes our brief overview of CFD platforms for investing in crypto with a flourish.
Capital.com is a broker with 2 licenses to operate, always CySEC and FCA.
Here, too, you will find commissions and spreads that are lower than the market average.
Capital.com provides many services reserved for the trader, such as the Investmate app dedicated only to practical training.
SafeMoon news – how it works
The SafeMoon blockchain is very strict, as it provides a 10% commission for what they sell or trade on their cryptocurrency. In order to incentivize speculative transactions, by encouraging the purchase and maintenance of the token in the long term.
Of this 10 percent, half is redistributed to all SafeMoon holders as a passive reward, while the other half helps provide liquidity to the liquidity pool.
The value remains high, as purchase transactions end up being larger than sales transactions.
The liquidity pool – which would be the treasury constituted by the penalties imposed on the sellers – constitutes a real reserve that SafeMoon holds to amortize price fluctuations and support the value of the token.
Finally, the SafeMoon blockchain provides for a manual elimination of the cryptocurrency (burn) , which leads to the gradual reduction of the monetary base. And, consequently, a potential price increase (clearly for the same demand).
Is it worth investing in SafeMoon?
The project made a lot of talk in spring 2021, since, just launched in March, it immediately saw its price rise enormously.
Many see us only as mere financial speculation, not fully believing in the goodness of the project. You can still protect yourself from this thanks to CFD trading.
SafeMoon news – Conclusion
SafeMoon is a cryptocurrency born in March 2021, whose blockchain provides a mechanism of disincentives to the sale of tokens with commissions of up to 10%. Since storing tokens should increase their value.
SafeMoon was an immediate success, so much so as to obscure the Dogecoin phenomenon. It also plans to make its contribution to Defi, with the launch of apps, wallets, games, exchanges for NFT.
When we consider SafeMoon news now, there are few ways to buy SafeMoon directly, but some major exchanges like Binance and safe brokers like eToro are ready to put them on the list.
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