Bitcoin was the pioneer of all cryptocurrencies, appearing back in 2008. Since then, other digital currencies have been launched on the market that seek to offer innovative options that have not been covered by their predecessors, so that investors decide for they. One of them is SafeMoon Coin
SafeMoon is a digital currency recently created, launched on the market on March 8, 2021, its first function has been to cover decentralized financial needs. Like other cryptocurrencies, such as Bitcoin, Ethereum o DogecoinSafeMoon’s technology is also based on the blockchain or chain of blocks, which functions as if it were a large public accounting ledger. For more information in this regard or about any of these coins, you just have to visit the blog of Hoddled, specialized in finance and with constant new entries on the latest news related to the world of virtual currencies.
What makes SafeMoon different from other cryptocurrencies?
As previously mentioned, the new cryptocurrencies aim to cover some market need that is not yet satisfied. Which makes that SafeMoon be unique is that It charges sellers a 10% fee and redistributes half to other owners, encouraging the ownership and purchase of these assets.
This coin aims to correct two of the most pressing problems of cryptocurrencies, its extreme volatility and the bad habit of investors of wanting to sell the digital asset quickly. The 10% rate wants to prevent investors from dumping their acquisitions quickly.
How does SafeMoon work?
SafeMoon differs from other digital currencies in what happens after your purchase. Each transaction causes the network to do a Reflection, an Acquisition of liquidity funds and a Burn. These concepts are explained below.
In crypto language this concept refers to static rewards. The main purpose of this currency is eliminate the liquidity bubble. To get it, SafeMoon rewards holders with each transaction, based on trading volume, that is, each transaction comes with a 10% tax. While 5% of that goes to liquidity, the other 5% is distributed among all SafeMoon holders.
In this way, what is intended is that holders continue to hold their currencies, as it is expensive to sell or trade the asset. On the contrary, if they are maintained, rewards will be received with each transaction carried out on the network, with which the capital increases without doing anything.
Acquisition of liquidity funds
Regarding the 5% that is allocated to liquidity, the objective is create and maintain price stability. These funds are intended to limit significant price changes from the sale of whales and other scenarios. SafeMoon distributes liquidity on all exchanges that support the asset.
Finally, there is the burning. The remaining 5% is converted into BNB, which consists of remove SafeMoon from circulation. This increases the rarity of the asset and, as a result, its price increases. Readers should be reminded that these three steps occur with every operation that is performed. The token is intended to act as a store of value rather than an asset. In that sense, it is intended to work like gold. With all these measures, SafeMoon is presented as a profitable long-term investment.
Is it worth investing in SafeMoon?
Many interested parties may wonder if it is really worth investing in SafeMoon, but it is not an easy answer. It’s It largely depends on the type of investment you want to make.. While many traders look to volatility and quick selling to make money, other more conservative investors prefer to stick with safer, more stable assets. Those who belong to this last group are the ones who will opt to invest in SafeMoonwell these are the values that this currency defends: stability and security.
However, before investing in this or any other type of cryptocurrency, it is best to look for detailed information, study its history… On specialized web pages, experts give a lot of information. An example is the blog they Hoddled mentioned earlier, a Reliable source to stay up to date on the latest digital currency news.