“How to sell SafeMoon” is a search query that is blowing up on Google and other search engines. Perhaps investors want to map out an exit strategy when the meme token blows up or maybe SafeMoon holders are ready to cash out. Either way, we have gotten the scoop on how to sell SafeMoon safely and securely.
SafeMoon is a cryptocurrency token that was launched on the Binance Smart Chain blockchain in March,2021. It presents itself as a DeFi token (decentralized finance). This implies it’s a component of a decentralized financial system that allows people to trade over peer-to-peer chain networks without the interference of centralized institutions like banks or governments.
It was created to encourage long-term investment while discouraging selling. This is accomplished by charging sellers a 10% charge, with half of the money going to Safemoon’s current holders and the other half going to a liquidity pool (to better maintain price stability). Reflection rewards receive 5% of the total, while liquidity pools receive 5%. To ensure the liquidity of the SafeMoon and Binance Coin pair, 2.5 percent of the 5% transferred to liquidity pools are converted into Binance Coin (BNB).
Safemoon has explained its currency, saying, “The idea here is to prevent greater drops when whales decide to sell their tokens later in the game, which stops the price from changing as much.” Whales are investors who own huge quantities of digital money.
Only a broker can assist you in selling SafeMoon. Liquidity is provided by brokers or crypto exchanges for cryptocurrencies such as Safemoon. This information is intended to help you make the best broker decision possible. We’ve included a few brokers below that you may contact at any time if you need to sell your Safemoon. These brokers have met de facto industry-recognized criteria and are regarded as appropriate platforms for newcomers and experienced investors.
How to sell SafeMoon?
In order to sell SafeMoon, you need to have an account at a cryptocurrency exchange that holds BNB. Follow the steps mentioned below:
1. Open the Trust Wallet app and tap on “Browser” (“dApps” for Android users).
2. Tap on “PancakeSwap.”
3. In the “From” section, tap on the BNB symbol. Type the word “SafeMoon in the search bar.
4. “Tap on “SafeMoon.” You’ll get a notice that SafeMoon tacks on a 10% transaction fee; 5% is distributed to token holders and the rest is added to liquidity. Tap on “I understand” and hit “Continue.”
5. Tap on the aquamarine icon next to the clock symbol. Set your slippage to 12% and hit “X.”
6. Tap on “Select a currency” and hit “BNB.”
7. In the “From” section, tap on “Max” to sell all of your SafeMoon tokens (if you want to sell a portion, you can type in the amount you’d like to sell).
8. Tap on “Swap” and hit “Confirm Swap.”
9. You’ll be taken to a page that will inform you of BNB network fee. If you’re satisfied with it, hit “Send.”
10. You’ll then get a “Transaction submitted” message. If you click on the BscScan link, you can check the status of the transaction. Once it’s processed, it will go from “Pending” to “Success.”
Convert Smart Chain to BNB
1. On Trust Wallet’s main page, you should see that your SafeMoon is converted into BNB Smart Chain currency. To swap it to Binance Coin, tap on “Smart Chain,” hit “More,” and tap on “Swap to Binance Chain.”
2. Tap anywhere within the “You Pay” space and tap on “100%.”
3. A confirm page will appear informing you of a network fee. Tap on “Send.”
4. Head back to Trust Wallet’s main page and you should see your BNB.
How to Send BNB to Binance US?
1. Tap on “BNB” and hit “Send.” Keep this tab open; you’ll need to go back to it.
2. Go to Binance US, navigate to “Wallet” and click on “Deposit.”
3. Select BNB as your coin, and copy your wallet address and your BNB memo number.
4. Head back to Trust Wallet. Paste the address under “Recipient address,” and paste the BNB memo number under “Memo.”
5. Tap on “Max” and hit “Next,” which will lead you to a confirmation screen. Hit “Send.”
6. You should now see your SafeMoon-exchanged BNB in your Binance US account.
How to Exchange BNB for USD?
1. On the Binance US website, go to “Buy Crypto” and click on the “Sell” tab.
2. Select “BNB” under “Sell” and “USD” under “Payment Method.”
3. Click on “Max” and hit “Sell BNB.”
4. Voila, you have now sold your SafeMoon for USD.
As usual, be careful with buying cryptocurrencies, especially meme tokens. They are a highly volatile asset class and can plummet just as quickly as they rise. Always make sure to exercise proper risk management.
When Is The Best Time To Sell Safemoon?
Anyone selling safemoon coins will be charged a 10% fee, half of which will be given to present investors in the form of a dividend; essentially, the long-term investment plan is the most favourable to determine your ability to sell your Safemoon coins. It might not be easy to keep track of an asset’s price since you need to be aware of what’s going on in the crypto market to decide whether to sell or keep your Safemoon.
Given the volatile nature of the crypto market, a lot may happen in the time between when your investment reaches the objective you set. A piece of negative news might have an impact on any open positions or holdings you have. This is why, anytime you wish to invest; you should always conduct research. Even when the transaction is heading in the wrong direction, the analysis keeps you in check. You may have to wait longer than required to hit your target.
Safemoon has a $987 billion market capitalization and a $9.8 million average daily trading volume. As it is a digital asset, it can be easily purchased, saved, and sold. It is not yet available on main crypto exchange platforms, but the top exchanges to use for trading Safemoon are ZBG, Gate.io, Bitrue, BitMart, and LBank.
You must close positions to sell Safemoon on the above exchange platforms. You can exchange the asset for USDT or your home country’s fiat money, then withdraw to your local bank account. Whether it’s hardware or software, Safemoon can be kept in a wallet.
If you want to get a cryptocurrency, you should do it after doing your research and not because the asset appears profitable. Invest just what you can afford to lose, as the saying goes. The crypto market is extremely volatile, and it cannot be traded based on hope or assumption.