Investing in SafeMoon

By   |   Verified by David Boyd   |   Updated Aug. 15, 2022

SafeMoon (SFM) is a cryptocurrency that launched in 2021 on the Binance Smart Chain. After it was released, the altcoin was flooded with celebrity endorsements from Dave Portnoy, Lil’ Yachty, and Logan Paul.

Find out more about the project, what it is for, and how you can invest in it.

What is SafeMoon?

John Karony is the founder and CEO of SafeMoon. He was formerly an analyst for the United States Department of Defense.

SafeMoon is a BEP-20 token. Its main purpose has been to encourage long-term investment by charging 10% transaction fees for buying and selling the coin, which keeps people invested in SafeMoon for longer.

Half of the transaction fee from selling goes towards those who hold SafeMoon and the other half is placed into a liquidity pool to maintain the stability of the coin’s market value. While a 10% fee is charged for buying and selling transactions, you must accept a 12% slippage tolerance to purchase this SafeMoon on Pancake Swap.

SafeMoon’s team burns tokens manually from time to time to increase its market value and make it more valuable for investors.