SAFEMOON V2
Safemoon crypto is one of those cryptocurrencies which gained a lot of popularity in a comparatively short period of time. Safemoon coin took the crypto world by storm this year as soon after its launch it rewarded its early investors with returns of over 20,000%. All those who are interested in Safemoon need to select the right Safemoon exchange and know the right price of Safemoon to take an entry. Let’s learn all about Safemoon itself and of course, how to swap Safemoon on our exchange aggregator.
What is Safemoon?
Safemoon is a cryptocurrency project launched in March this year. The project aims at introducing a cryptocurrency that will escape the swings commonly seen in the crypto market like Bitcoin, Ethereum, Dogecoin, etc. Therefore, it discourages day trading and is more focused on incentivizing its hodlers. About two million people have already bought the currency during this short 3 to 4 months period. Its value has also risen to 202%.
The project promises to benefit its holders anytime soon. Safemoon is the abbreviation of the longer term “safety to the moon”. According to some sources, the coin has a market cap of about $2.5 billion while others say it is $4.1 billion which shows that it possesses a great potential to perform in the future. Also, the taxes that are collected on each Safemoon token are distributed equally among the holders.
Safemoon differs from the other traditional cryptocurrencies. First of all, it is aimed at addressing the price volatility that we see in other cryptocurrencies. Secondly, the project believes in manual burns rather than continuous. In manual burns, the coins are purposefully removed from circulation. This gives the currency better control over the supply and value. The coin is handled by an experienced team whose major goal is to do something out of the box.
Key features of Safemoon coin
Safemoon coin is launched by diverting the attention of traders towards the benefits of holding an asset and in return managing the price swings. The key features of the project are discussed below:
It is completely dependent on its community
Safemoon is a community-driven token. The creators believe in strengthening the community to increase the coin’s worth and value in the market. To maintain fair play the developers and the team burned their tokens and participated with everyone else.
The automatic Liquidity pool system
The project has designed an automatic liquidity pool system so that every trade that happens on the network contributes automatically to the liquidity pools used by various exchanges.
Static reflection system
The creators have added a feature of static reflection. They earn passive income by contributing to the pools and account balance increases.
Sellers have to pay 10% tax
One unique feature of Safemoon is that the sellers have to pay 10% tax when they sell Safemoon. It is done to encourage the holding of the coin over trading it. Half of this tax is distributed to the owners of the coin and the other half goes to the liquidity pools.
The tokens are burned manually
Another feature of the project is that the coins are burnt manually which means that the Safemoon team will burn the coin manually to increase its price.
Safemoon protocol
Safemoon protocol revolves around a combination of RFI tokenomics and auto liquidity generating pool. The plan is to generate a non-fungible token. The roadmaps explain that creators have some charity projects associated with the coins’ mass adoption. The protocol also includes crypto educational apps which are centered around the mass adoption of cryptocurrency. According to the Safemoon protocol, the holders will earn passive income based on the scale of their holdings. The holders can generate up to 80% of annual profit per year.
The coin-burning strategy of Safemoon sets it apart from other coins and therefore it is expected to rise as a deflationary cryptocurrency. When fully expanded, the Safemoon protocol will allow users to create their own cryptocurrencies through the launch of NFTs. Furthermore, the protocol includes the formation of a native decentralized exchange.
Safemoon exchange: Why is Swapzone the best place to swap Safemoon?
Swapzone provides multiple exchange options with the best transaction speed and transaction rates to its users. As an exchange aggregator, it brings many exchanges together on a single platform so you can select a Safemoon exchange offer that suits you best.
Safemoon exchange: How to swap Safemoon at the best rate?
If you’re interested in Safemoon exchange at ease, Swapzone can help you with that. Follow this step-by-step guide and become a Safemoon holder:
- Select the currency you want to swap in the field “Send” and Safemoon in the field “Get up to”.
- Input the amount of currency you want to exchange for SAFEMOON. Swapzone will now bring you the best rates from various exchanges offering the desired pairing and show the amount of Safemoon you are getting for your crypto.
- Click on the exchange button, which will ask you to provide the address you want your newly purchased Safemoon sent to. There is also space for a refund address.
- Click on the “proceed the exchange” button. Swapzone will also show you the review of the exchange site you choose to buy from.
- Wait for the deposit to be processed by the exchange service and the Safemoon exchange to be done.
- Don’t forget to rate the exchange partner and leave a review, so we can gather more information on the exchanges for future users.
Conclusion
As you can see, emerging cryptos are setting the trend for community management and social engagement. Safemoon is no exception. Nevertheless, its community is extraordinary in terms of building on word-of-mouth marketing and contributing to corporate branding which is widely spread throughout social media. Even though at the beginning, when SAFEMOON just launched, there was a lot of buzz around the topic “Is Safemoon legit?”/”Is Safemoon a scam?”, at the moment, the coin remains in the market, keeps getting attention and endorses new hodlers.
Frequently asked questions
What is the SAFEMOON V2 exchange rate?
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Where to find the lowest transaction fees?
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
What is average transaction time?
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
How to choose a cryptocurrency wallet to store SAFEMOON V2?
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
What is the best cryptocurrency exchange for beginners?
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
What is Swapzone?
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
Gate.io будет поддерживать миграцию токенов SafeMoon (SAFEMOON)
Согласно команде SafeMoon, компания SafeMoon начала миграцию SAFEMOON V1 на SAFEMOON V2, токены SAFEMOON v1 будут обмениваться на токены V2 по курсу 1000 V1=1V2. Gate.io будет поддерживать этот обмен токенов и обменивать токены на пользователей.
Коэффициент обмена: 1000 SAFEMOONV1 = 1 SAFEMOONV2
За каждые 1000 SAFEMOON v1 Вы получите 1 SAFEMOON v2
Дата начала обмена токенов Gate.io: в ближайшие дни, будет определена
Ниже приведена более подробная информация о том, как мы будем обменивать токены:
How to Migrate V1 to V2 SafeMoon on Trust Wallet
To migrate V1 to V2 SafeMoon on Trust Wallet, you need to connect Trust Wallet to swap.safemoon.net and swap your SafeMoon to SafeMoon V2 (SFM).
After you’ve swapped your SafeMoon to SafeMoon V2, you need to copy the SafeMoon V2 contract and add it to Trust Wallet.
Lastly, refresh Trust Wallet and you’ll be able to see your SafeMoon V2 balance!
Keep in mind that the address that you’re swapping the tokens needs to be swap.safemoon.net.
If it’s another address, do not swap your tokens or you might be scammed.
You also need to add SafeMoon V2 to Trust Wallet to see it.
This is because Trust Wallet will not automatically add it to your wallet.
Otherwise, you won’t be able to see your SafeMoon V2 balance.
Here’s how to migrate V1 to V2 SafeMoon on Trust Wallet:
1. Go to swap.safemoon.net and tap on “Connect to a wallet”
Migrate V1 SafeMoon to V2 SafeMoon: swap.safemoon.net.
The first step is to go to swap.safemoon.net.
Make sure the address is swap.safemoon.net and not anything else or you might be scammed.
Once you’re on the website, you need to connect to Trust Wallet.
To do so, tap on “Connect to a wallet” on the top navigation bar.
2. Connect to Trust Wallet
After you’ve tapped on “Connect to a wallet”, you’ll see the “TrustWallet” option.
But before that, you need to select the network.
There are a couple of networks that you can choose from.
This includes the “BSC” network and the “Ethereum” network.
If you’re only holding SafeMoon (and not pSafeMoon), you need to select the “BSC” network.
Lastly, tap on “TrustWallet” to start connecting to Trust Wallet.
3. Change the network to “Smart Chain”
After you’ve tapped on “TrustWallet”, WalletConnect will open (if you’re using an iPhone).
On WalletConnect, select “Trust” to connect to Trust Wallet and tap on “Open in Trust Wallet”.
Now, Trust Wallet will be opened and you’ll land on the “Swap wants to connect to your wallet” page.
Again, you need to make sure that the URL is “swap.safemoon.net” and not anything else.
From here, the “Ethereum” network might be selected.
If so, you need to change it to the “BSC” network (Smart Chain).
To do so, tap on “MAIN” and select “Smart Chain”.
Lastly, tap on “Connect” to connect Trust Wallet to SafeMoon Swap.
4. Swap your SafeMoon to SFM
After you’ve connected Trust Wallet to SafeMoon Swap, you need to go back to swap.safemoon.net.
Now, you’ll see that your wallet is connected to the website in the top-right corner.
You’ll also see your SafeMoon balance in the “From” field.
If SafeMoon is not selected, you need to select it in the “From” field.
You also need to select “SFM” (SafeMoon V2) in the “To” field.
To migrate SafeMoon V1 to SafeMoon V2, tap on “Max” in the “From” field.
Lastly, tap on “Approve SafeMoon” to approve it.
5. Agree and tap on “Continue”
After you’ve tapped on “Approve SafeMoon”, a pop-up message will open.
The pop-up contains important information that you have to agree on.
Here’s what it says, “Please note that after your SafeMoon has been consolidated into V2 SafeMoon, it will not show a price for a short period of time”.
Followed by, “This is normal. Once a sizable amount of holders begin migrating, the market cap will eventually find a stable price and then it will be displayed. Please be patient during this time”.
Firstly, agree to the terms by tapping on the “I have read and I understand” checkbox.
Then, tap on “Continue” to proceed with the migration.
6. Tap on “Migrate”
After you’ve tapped on “Continue”, you’ll land back on the swapping page.
Now, you’ll see a “Migrate” button.
Tap on “Migrate” to start swapping SafeMoon V1 to SafeMoon V2 (SFM).
7. Tap on “Confirm”
After you’ve tapped on “Migrate”, Trust Wallet will open and the “Smart Contract Call” will load.
Now, you’ll see the asset that you’re sending, the decentralized app that you’re using, and the network fee.
The network fee is the amount that you need to pay for the transaction.
Tap on “Confirm” to confirm the transaction.
8. Copy the SafeMoon V2 Contract
After you’ve tapped on “Confirm”, go back to swap.safemoon.net.
On swap.safemoon.net, you’ll see the Smart Contract Call as well.
If you go back to Trust Wallet, your SafeMoon balance will disappear.
However, you won’t be able to see your SafeMoon V2 balance yet.
This is because you haven’t added it to Trust Wallet.
To do so, go to https://safemoon.net/ and copy the SafeMoon (SFM) V2 Contract by tapping on the duplicate icon.
9. Open Trust Wallet and tap on the filter icon
After you’ve copied the SafeMoon (SFM) V2 Contract, go back to Trust Wallet.
Once you’re on Trust Wallet, you need to add SFM to see it.
To do so, tap on the filter icon on the top right of your wallet.
10. Scroll down and tap on “Add Custom Token”
After you’ve tapped on the filter icon, the “Tokens” page will open.
Now, you’ll see a list of tokens that you can add to Trust Wallet.
Scroll down the list until you see the “Add Custom Token” option.
Tap on “Add Custom Token” to add a custom token.
11. Paste the SafeMoon V2 contract and save it
After you’ve tapped on “Add Custom Token”, you’ll be able to add a custom token.
Firstly, paste the SafeMoon (SFM) V2 Contract in the “Contract Address” field.
After you’ve pasted it, the rest of the fields will be autopopulated.
Tap on “Save” to add SFM to Trust Wallet.
12. Check your SafeMoon V2 balance
After you’ve added SFM (SafeMoon V2) to Trust Wallet, go back to your wallet.
Firstly, you need to refresh your wallet by swiping down and releasing your screen.
By refreshing your wallet, you’ll see your SFM balance.
You’ve successfully migrated V1 to V2 SafeMoon on Trust Wallet!
Conclusion
Migrating V1 to V2 SafeMoon on Trust Wallet is not that complicated.
You just need to make sure to select the “BSC” network and not the “Ethereum” network.
In addition, you need to make sure that you have enough BNB for the transaction to execute (for the blockchain cost).
If you don’t have sufficient BNB, the transaction will fail.
SafeMoon V2 is an upgraded version of SafeMoon, so it’s highly recommended that you consolidate your V1 SafeMoon to V2 SafeMoon as soon as possible.
The version includes better flexibility, security, and accessibility.
There is no cost for the SafeMoon to convert except for the network fee.
In other words, your amount of V2 SafeMoon will be equal in value to your initial V1 SafeMoon after the conversion.
Further reading
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About the author
Lim How Wei
Lim How Wei is the founder of followchain.org, with 8+ years of experience in Social Media Marketing and 4+ years of experience as an active investor in stocks and cryptocurrencies. He has researched, tested, and written thousands of articles ranging from social media platforms to messaging apps.
Lim has been quoted and referenced by major publications and media companies like WikiHow, Fast Company, HuffPost, Vice, New York Post, The Conversation, and many others. One of his articles about the gig economy was quoted by Joe Rogan who hosts The Joe Rogan Experience (arguably the most popular podcast in the world), in the This Past Weekend podcast by Theo Von.
In his free time, Lim plays multiple games like Genshin Impact, League of Legends, Counter-Strike, Hearthstone, RuneScape, and many others. He creates guides, walkthroughs, solutions, and more on games that he plays to help other players with their progression.
Here’s the Complete Guide on How to Migrate Your SafeMoon Tokens to V2
The V2 upgradation of SafeMoon will be launched anytime soon. The migration will go into effect soon and the countdown for the V2 upgradation has already started on social media.
Reports state the migration process might not happen automatically and investors need to manually set up their tokens for transition. The DeFi project’s V2 formula involves getting upgraded contracts. They have the ability to change its consolidation formula. For the uninitiated, consolidation is a DeFi feature that SafeMoon refers to as ‘reverse stock splits’
The traditional stock market allows firms to make reverse stock splits as it would benefit the shareholders. Therefore the same reverse stock splits in the form of consolidation is used by SafeMoon for the benefit of its investors.
In conclusion, consolidation is a way to clean up the numbers by not changing the ownership rights of the investors.
How To Migrate SafeMoon Tokens To V2?
Here’s the step-by-step guide on how to migrate your SafeMoon tokens to V2.
For SafeMoon Wallet users: Make sure you update to the latest version of the app and follow the consolidation process in the wallet.
For Non SafeMoon Wallet users: (Users with another wallet: Trust Wallet, MetaMask, Binance Chain Wallet, Math Wallet, or have access to the WalletConnect dApp from your wallets. You need to go to swap.safemoon.net and after that connect your wallet to consolidate.
If your tokens are on an exchange: No need to worry. Your exchange will handle the migration, or you can transfer your tokens to the SafeMoon Wallet and do it yourself (fees will apply).
Above all, if your tokens are stored in a Hard Wallet: Import your wallet into the SafeMoon Wallet app using the private key feature.
In addition, if none of the above applies to you and own SafeMoon in different formats: You need to contact the SafeMoon support team for guidance and steps on how to migrate to V2. Similarly, you need to email the help and support team at [email protected].
“The #SafeMoonV2 evolution starts here! Get ready – learn how to migrate your tokens to V2 #SAFEMOONARMY,” tweeted SafeMoon.
Get ready – learn how to migrate your tokens to V2#SAFEMOONARMY pic.twitter.com/jaG5epgxqG
— SafeMoon – wen v2? coming soon 🚀 (@safemoon) November 28, 2021
SafeMoon revealed the upcoming features of the V2 upgradation and stressed that the development is safe and secure. ”3 reasons why #SAFEMOON V2 is the Evolution. Upgraded contract implementing a 1000:1 consolidation. Increased quality, security, and accessibility of SafeMoon. Preparing us for a warp-speed future.”
At the time of publishing, SafeMoon was trading at $0.00000308 and is down -4% in the 24-hours day trade.