This tutorial will explain the best way to purchase Safemoon in Australia. You’ll also learn how to buy Safemoon in a cryptocurrency exchange—step-by-step. In addition, this tutorial will include tips on how to sell the asset in the market. But before you begin your SafeMoon investment journey, you must first gain a thorough understanding of cryptocurrency and how to invest in it.
SafeMoon is a DeFi token that allows scalability to holders over concerns like high transaction costs and a lack of security that plague the traditional banking centre. SafeMoon is a cryptocurrency that runs on the Binance Smart Chain blockchain—and was first published in 2021 and has since procured many followers.
What is SafeMoon?
SafeMoon is one of the best finance tokens—built with BSC to help address price volatility, which has been a problem in the digital asset market since its creation.
By charging a 10% on each sale, SafeMoon discourages token holders from liquidating or day trading their tokens. Instead, SafeMoon pays long-term token holders with monetary incentives and advantages, encouraging them to “buy and hold.” According to SafeMoon, half of the 10% selling charge is returned to token holders—traders are penalized while holders are rewarded.
Furthermore, SafeMoon is the ecosystem’s native crypto asset, and it’s designed to help reward not only issuance but also different internal transactions. According to the official project whitepaper, the asset has a total sum of 1 quadrillion tokens (of which 223 trillion have already been abolished).
Even more, This DeFi token is the world’s 108th most valuable cryptocurrency, with a market cap of $903,722,070. It is also currently trading at $0.00000157, which is 0.364% up from yesterday’s price. By September 2021, all prices have been updated and are listed in US dollars.
How To Buy Safemoon In Australia
You must first buy Bitcoin, Ethereum or Tether through an Australian exchange to purchase SafeMoon in Australia. That said, here’s how to purchase SafeMoon through a crypto exchange of your choice, and we’d recommend you try out CoinSpot.
Step 1: Open An Online Account
Sign up on a crypto exchange in Australia (one supporting SafeMoon and Australian Dollars). Additionally, you’ll have to give your name, email address, and phone number to open an exchange account. A copy of a government-issued ID is required to verify your identity. I highly recommend that you go with CoinSpot, which is one of the simplest crypto exchange platforms.
Step 2: Fund Your Account
The next step is to deposit some money into your account. You will be given various deposit options, ranging from using credit cards to online purchase platforms such as Paypal. Pick the most suitable deposit option for you and enter the amount you want to spend.
Step 3: Buy SafeMoon
You can use the funds in your account once you obtain them or use your other crypto holdings. Search for the pair written BTC/SAFEMOON, ETH/SAFEMOON, or any other equivalent pair under the ‘buy’ section if you select a crypto-crypto payment.
Choose the AUD/SAFEMOON pair if you wish to purchase using fiat currency. You’ll receive a notification that your SAFEMMON tokens have been added to your exchange account once you confirm your order.
Best Safemoon Crypto Exchanges
1. CoinSpot
CoinSpot is a Melbourne based cryptocurrency exchange that guarantees a safe and secure platform for buying and trading cryptocurrencies. The exchange platform is one of Australia’s leading cryptocurrency platforms, and customers can purchase or sell Bitcoin and trade the open market to speculate and earn profits.
Casey Block Services Pty Ltd trades as CoinSpot and is a legally licensed company. If you want to properly practice and operations with investors’ money, the exchange is managed by Australia’s highly regulated financial sector.
And to safeguard user accounts, CoinSpot cryptocurrency exchange complies with AUSTRAC’s strict new AML/CTF laws. The crypto exchange platform also employs bank-like security measures to secure its users’ information and funds. Furthermore, CoinSpot uses two-factor authentication (2FA), which requires a mobile phone code to access the platform and has become the industry standard for security.
Since its inception in 2013, CoinSpot has never been hacked, making it a renowned and trustworthy exchange. Besides, CoinSpot is Australia’s first cryptocurrency platform to achieve the internationally renowned ISO 27001 information security accreditation. This means there’s a low chance that personal information saved on the exchange to meet KYC criteria will be hacked.
2. Binance
Changpeng Zhao started Binance, a cryptocurrency trading exchange. And after rising Chinese restrictions jeopardized the company’s business, it relocated to the Cayman Islands.
With its vast choice of trading pairs and minimal costs compared to competitors, Binance quickly became one of, if not the largest crypto trading platforms in the world. Most crypto enthusiasts liked it because it didn’t have any KYC (know your customer) requirements at first, though it has since incorporated more KYC procedures.
Binance provides more than 100 different cryptocurrencies and includes well-known coins like Ethereum (ETH) and Litecoin (LTC), as well as smaller coins like CyberMiles (CMT) and ZCoin (XZC). However, Coinbase, which sells more Bitcoin than any other exchange, only lists only four coins!
