SafeMoon doesn't tout itself as a cryptocurrency but instead as a DeFi token, a decentralised finance token. DeFi’s aim is to bring about disruption to the financial world and enable people to lend in peer-to-peer networks without needing a physical bank.
SafeMoon was launched on March 8, 2021, Its website carries the slogan ‘Safely to the Moon’ - a play on the phrase first mooted by WallStreetBets on Reddit in an attempt to hype up the price of Dogecoin or stock price.
The cryptocurrency is currently listed at 2431 on Coinmarketcap, so it’s not particularly up there in terms of coins.
SafeMoon claims it will reward people who buy the token and hold onto it instead of trade, its value still depends on people holding it. It intends to encourage people to hold on to the coin by imposing a 10 percent penalty tax fee on sellers and redistribute the seller fee to people who hold onto the coin.
The easiest way to buy SafeMoon is to create a crypto wallet on the Binance Chain Network.
To buy SafeMoon, You have to buy a Binance Coin (BNB) first before essentially swapping it for a token.
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