Safemoon is a cryptocurrency that is inspired by the popular open-source digital currency, Monero. It is based on an improved version of the Cryptonote protocol. Safemoon is fungible so its units can be mixed freely with other units without affecting their value. It also offers stealth addresses for each user, which hide the user’s address and thus only the owner of the account can read it. Safemoon is anonymous and secure, therefore suitable for all kinds of users, who want to protect their privacy. Safemoon is already listed on several exchanges among them Bittrex, Poloniex, Kraken, Cryptopia, and Cryptohub.
SafeMoon is a very unique and exciting cryptocurrency that has a positive outlook on the future of the coin. The price of the coin has been steadily rising since it was launched in late 2017. According to SafeMoon’s current price of $1.24, the coin’s market cap is around $1.72 million.
Safemoon is the first encrypted messaging app that allows users to send and receive transactional messages (with end-to-end encryption) to and from other users, who do not require encryption keys to view the content of the message. As the first product of its kind, Safemoon has gained considerable traction among users around the world. The app is available on both iOS and Android platforms and has over 100,000 users. Safemoon Blockchain was founded in April 2018 by a team of entrepreneurs that have built several products. Safemoon is an app that enables its users to send and receive encrypted messages
Price of Safemoon
Price of SafemoonSafeMoon may be purchased in a variety of ways.
SafeMoon may be purchased through one of the BSC-linked DEXs if you’re still interested. PancakeSwap and Bakery Swap are two of them. If you’ve ever farmed produce, you’ll recognize the procedure, albeit it’s a bit more involved than just purchasing Bitcoin from Coinbase. Basically, you must first purchase Binance Coin (BNB) and then deposit it into a BSC-compatible wallet. MetaMask and Trust Wallet are two of them. Switch from BNB to SAFEMOON at DEX after you have BNB.
Exchange of pancakes
On PancakeSwap, trade BNB for SAFEMOON. Image courtesy of PancakeSwap There’s also a special SafeMoon wallet in the works, which will make it simpler to purchase BNB and exchange it for SAFEMOON whenever it’s launched.
Before you purchase SafeMoon, be sure you know what you’re getting yourself into.
We’ve previously addressed the potential that SafeMoon is a Ponzi scam, which may raise some red lights, and you should proceed with caution if you decide to participate in this project. There is, however, one additional cause for concern that has just lately come to light. HashEx, a blockchain auditing and consulting company, said in May 2021 that it had found a dozen security vulnerabilities in SafeMoon (SAFEMOON), putting over two million investors at risk.
According to your research, the project has a lot of flaws, one of which is the smart contract that allows for 100% fees on SAFEMOON transfers. Rug-pulling and the exclusion of owners from commission distribution Price of Safemoon A rug pull is when a developer steals liquidity by temporarily restricting token transfers. Making the token smart contract unusable indefinitely. According to Hashem, the owner of the Safemoon smart contract is an external account managed by a single individual.
The account has a market worth of $ 20 million, according to the firm, with the amount gradually rising as the smart contract pays a portion of the transfer commission to the owner’s account. There may be a rug pull of over $ 20,000,000 at any moment if the owner’s address is exposed. The SAFEMOON exchange rate may rapidly decrease since approximately 15% of total liquidity is kept in liquidity pools.
Price of Safemoon
If SafeMoon’s external account is hacked, an attacker may deplete the liquidity pool and prohibit SafeMoon devs from sending tokens to a burning address, according to Hashem. SafeMoon’s chief technical officer, Thomas Smith, told Safemoon Price HashEx that the security firm’s concerns aren’t “that we can update with a deployed contract without a hard fork.” SafeMoon has internal “rules and processes” on how the contract operates, according to Thomas, to “limit the danger of value abuse.”
SafeMoon’s mix of major flaws serves as a sobering reminder of the dangers that DeFi initiatives currently pose in the market. DeFi hackers took a total of $ 285 million in the last two years, according to Messari Safemoon Price. The DeFi100 decentralized financial protocol, which has been alleged to be fraudulent, is a recent example.
Safemoon is the only cryptocurrency that uses split-key technology to guard against fraud. Safemoon is not mined or created by mining, but rather it is created via the consensus of the network through the process of Quorum versioning. This means that users in the Safemoon network must agree to the network’s version of events before it can be made public, in order to prevent fraud.. Read more about where to buy safemoon crypto in us and let us know what you think.
Frequently Asked Questions
How do I buy SafeMoon crypto?
SafeMoon is currently not available for purchase on any exchanges. However, you can mine it with your GPU or CPU.
Can I buy SafeMoon on Coinbase?
SafeMoon is not available on Coinbase.
Can I buy SafeMoon with ethereum?
No, SafeMoon is a decentralized platform that does not allow for the purchase of tokens.
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