What is SafeMoon crypto? What’s so unique about it?

Ever since Bitcoin, Ethereum and other traditional cryptocurrencies have become popular, many new cryptos have also come  on the horizon.

SafeMoon is one of the newer cryptocurrencies, which was introduced in 2021 by John Karony, a former US Dept of Defence analyst. Featuring a rocket ship as its logo, SafeMoon is peer-to-peer, open-source crypto, which was launched to provide a more sustainable alternative to other cryptos like Bitcoin, Ethereum and also meme coins. 

Currently, the crypto was trading at US$0.0000005345, up 4.16% in the last 24 hours. Its circulating supply is 585.54 trillion SAFEMOON coins, while its maximum supply is 1000 trillion coins.

Let us know more about SafeMoon and its unique characteristics.

Source: © Arif77shine | Megapixl.com

Distinctive features of SafeMoon

Built on Binance Smart Chain, SafeMoon is a decentralised finance token and its protocol is community driven. The crypto rests on basic functions like reflection, liquidity provider acquisition and a burn mechanism.

Interesting Read: SafeMoon rallies: What is this DeFi crypto & its 2025 price prediction?

According to its website, SafeMoon uses the reflect mechanism, thereby adding incentive for its token holders to keep their tokens for longer periods. Furthermore, its LP acquisition provides stability to the protocol by offering a price floor for its token holders.

What makes SafeMoon unique is its 10% transaction fee on its platform, 4% of which is redistributed to all the token holders. It is this reflection function that dissuades the investors from selling their SFM tokens.

Out of the remaining half, some percentage is added to its liquidity pool for maintaining price stability, while some percentage is set aside for the SafeMoon Ecosystem Growth Fund.

Must Read: What is SafeMoon coin? Is SafeMoon a good cryptocurrency?

Where to buy SafeMoon?

The crypto is available on numerous crypto exchanges like PancakeSwap, Hotbit, Gate.io, BitForex, Biswap, BiKi, BitMart, etc.

Also Read: How do I buy SafeMoon?

Bottom Line

Before venturing into crypto investments, one must weigh the pros and cons and, at the same time, must have the nerves to accept short-term losses, as the crypto market is risky and volatile.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.


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