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- SafeMoon: New Dogecoin or Ponzi scheme?
- SafeMoon Crypto: 11 Things to Know as SafeMoon Prices Rocket 100% Higher
- Iranian immigrant lost $53,000 in crypto hack, says he faces ruin if BitMart doesn't pay him back
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- What Is SafeMoon and Is It a Good Investment?
- HUH Token 1000% growth in 48hrs replicates successful launch of SafeMoon and EverGrow
SafeMoon: New Dogecoin or Ponzi scheme?
A new cryptocurrency called SafeMoon has been surging in popularity, with its price rising by more than per cent in the last 24 hours. Very little is known about the new coin, making it an even riskier investment than more established cryptocurrencies , but it has been very active on Twitter. SafeMoon is not technically a cryptocurrency. On its website it calls itself a DeFi token, which is short for decentralised finance token. Like cryptocurrencies they use blockchain technology.
Their aim is to recreate financial services such as earning interest or taking out a loan in a decentralised manner, without the need of a third party like a bank.
It aims to do this by penalising selling — SafeMoon takes a 10 per cent cut from every sale made. It has regularly been pumping up its recent success on social media, celebrating when a zero drops from its valuation. Cryptocurrencies are a risky investment at the best of times. Even the most established coins like Bitcoin and Ethereum are notoriously volatile, and can crash as quickly as they can rise.
Because so little is known about SafeMoon, and because it only launched in March, it should be viewed as an extremely risky investment. When investing, you should only ever put in what you can afford to lose, and it is important to do your own research before putting money down. Log In. Contact us Sign up for newsletters. SafeMoon price: What the new crypto is worth, how it works and risks around buying it explained Very little is known about the new coin, making it an even riskier investment than more established cryptocurrencies SafeMoon is a new cryptocurrency that has been gaining in popularity Photo: Reuters.
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SafeMoon Crypto: 11 Things to Know as SafeMoon Prices Rocket 100% Higher
New digital currency SafeMoon has lost an astounding amount of value in just an hour as it is impacted by wild swings in volatility. It launched this month, but what exactly is SafeMoon? Here, we explain everything you need to know. But first, a word of warning: buying cryptocurrencies and decentralised finance tokens as well as stocks and shares is a risky business. Investing is not a guaranteed way to make money, so make sure you know the risks and can afford to lose the money. Cryptocurrencies and decentralised finance tokens are also highly volatile, so your cash can go down as well as up in the blink of an eye.
Iranian immigrant lost $53,000 in crypto hack, says he faces ruin if BitMart doesn't pay him back
We explain what you need to know about SafeMoon and how its price is predicted to change in But first, a word of warning: buying cryptocurrencies and decentralised finance tokens as well as stocks and shares is a risky business. Investing is not a guaranteed way to make money, so make sure you know the risks and can afford to lose the money. Cryptocurrencies and decentralised finance tokens are also highly volatile, so your cash can go down as well as up in the blink of an eye. Not a huge amount is known about SafeMoon meaning the risk to your investment may be even higher. DeFi stands for decentralised finance token. They are very complex but essentially aim to disrupt the finance world to enable people to follow and lend in peer-to-peer networks, without needing a bank. Like Bitcoin they use a complicated method called blockchain technology. Its Facebook page states: "Remember, getting to the moon takes time and the longer you hold the more tokens you pick up. Experts warn that these can sometimes be a sign of a scam and make it a very high risk investment.
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When it comes to cryptocurrencies , there are more than you can shake a stick at, with new digital coins surging and crashing overnight. But, as with any investment, and especially with cryptocurrencies, you can lose all of your money if you put it into highly speculative assets like these. SafeMoon was launched on March 8, , and its newness to the cryptocurrency world means that not too much is known about its long-term value and underlying technology. The joke cryptocurrency dogecoin was created in as a light-hearted take on bitcoin. But in the wake of Reddit retail investors taking on established Wall Street types, the cryptocurrency began to rally.
What Is SafeMoon and Is It a Good Investment?
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HUH Token 1000% growth in 48hrs replicates successful launch of SafeMoon and EverGrow
Read more. Community Focused and fair launch. The dev team burned all of their tokens and participated with everyone else. Every trade contributes towards auto-generating liquidity that goes into multiple pools used by exchanges. Holders earn passive rewards through static reflection as they watch their balance of SafeMoon grow indefinitely. The SafeMoon exchange is a revolutionary new idea that will bring tokenomics to all of crypto on its platform. We call this Cryptonomics.
But while other coins are now rebounding , SafeMoon is only sinking further. Nomics has it at , for example. The wider market is mostly booming. Where SafeMoon varied from some of the past pump-and-dump tokens is in the way it incentivizes investors to hold on to the token long-term.
We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. Instead, investors dropped out of the Dogecoin hype , selling their holdings and leading the price of a single dogecoin to drop, hurting the overall value. Start your day with the top stories you missed while you were sleeping.
The V2 upgrade is now live, what will it mean for a SafeMoon price prediction in ? With the growth of the cryptocurrency market, lots of new coins have been appearing. One such example is SafeMoon, which has been in existence for just under a year and has recently gained a lot of excitment due to its recent V2 upgrade. So what is the outlook for a SafeMoon future? And is it really safe? It appears to be designed to encourage people to hold — or, to use the online crypto meme phrase, HODL — their coins. This gives crypto holders a kind of reverse dividend.
The crypto minnow, which currently carries a value of less than a thousandth of a dollar, has surged in value in recent days, is attracting fresh investor interest amid a stumble in the wider crypto bull market. While the crypto sector has found itself mostly on the back foot in recent days, one bright spot at the smaller end of the market is Safemoon, a new crypto launched in the first quarter of that has been gaining traction. Technically, Safemoon is not a cryptocurrency in the same way that Bitcoin is, rather it serves as a decentralised finance DeFi token. DeFi tokens aim to replicate financial processes without the need of a third-party intermediary such as a bank, instead choosing to rely on computer processes such as smart contracts.
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