Safemoon is a crypto currency that was launched in March,2021. It has shown rapid development since it was launched,with the value exceeding $8 billion in the first month. Most people believe that it’s the 1000x coin.The reason for it’s popularity is the uniqueness of the currency.
Like other crypto currencies safemoon is volatile, however price fluctuation is controlled by a system known as the Auto lp. This functions as a beneficial system for hodlers in two ways. It creates stability from the LP and also supports the token’s price floor.
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What is safemoon?
Safemoon is a crypto currency and it was created on the Binance smart chain block chain. It’s attracting feature is that it reflects 5% of the 10% fee charged for transactions back to it’s token hodlers.
Despite the criticisms the coin has faced,it currently ranks #144 on the coinmarket charts and it keeps developing.
What is BitMart?
BitMart is a crypto currency exchange system, meaning crypto currencies can be sold and bought with it. It was created in 2018, offering a simple and beginner friendly buy/sell platform. According to investopedia, Bitmart launched it’s BitMart token (BMX) in 2018 which gives token hodlers trading discounts and numerous benefits on the platform.
Currently individuals can trade up to 1000 crypto currencies with BitMart. It also has over 9 million users in more than 100 countries.
How to buy safemoon on BitMart.
Download the BitMart app
The first step to using BitMart is by downloading the BitMart app from Google play store or the Apple play store for iPhone users. You can also access their website ( www.bitmartexchange.com) to create an account.
Create an account
The next thing to do is to open a trading account on BitMart. To open an account you will be required to provide an E-mail address or phone number and password. You will be asked to confirm your email address or phone number to gain access to the trading dashboard once you provide these information.
Complete the verification process
An identification verification process has to be completed in order to start trading. There are two levels of the verification process: Level one and Level two. Level one is for beginners or people who wish to trade only small amounts of cryptos while level two is for larger amounts or professionals.
The level one verification process requires only your personal details, while level two requires details like your statement of account,a Government issued ID card and additional information. Once all these information are completed you can begin to trade on the platform.
Fund your account.
Now that you have completed all the required processes, the next step is to fund your account in order to start actual trading on the platform. To fund your account, click on the Buy/sell option on the upper left corner of your screen. You will be redirected to a page where you can buy stable coins, like Bitcoin,Etherium,USDT and others with their exchange rates.
USDT is a stable coin that is tied to the US dollar. It is also the safest linked to the US dollar, meaning that it’s price fluctuations are tied, making it less volatile. One USDT is equal to one US dollar. This can be used to buy any crypto currency or token.
Once you have gotten the USDT,you can now buy your Safemoon peacefully without any quirks. To trade USDT for Safemoon,go to the market section on the main screen. Search for Safemoon token on the search tab. You will see different options, click on the USDT/ safemoon option. Once selected,choose the amount of safemoon you will like to buy. It will show you the corresponding amount in USDT. The selected amount is stored on your BitMart account for trading and investing.