What We Need to Know Before Deciding Whether to Invest in SafeMoon
2022-04-28 15:06:15
How Do We Know If Safemoon Is A Good Project To Invest In?
Cryptocurrencies are gaining more and more popularity and visibility in the investing world, thanks to their flexibility and adaptability to any type of portfolio, large or small. This trend is definitely revolutionizing the industry and opening the doors of finance to people, who didn’t have access to it before for various reasons. Since the birth of bitcoin, we have seen a succession of new coins linked to more or less valid projects. Most of these are still in circulation, while others have unfortunately almost disappeared for a variety of reasons, including the abandonment of the project. It is becoming increasingly difficult to find the right currency on which to invest, because of the wide selection and the different characteristics that these have. It is always recommended to do your own research before acting.
In the spring of 2021, a newly launched project called SafeMoon has caught the attention of numerous people, especially newbies, attracted by a noticeable SafeMoon price increase. The reason is to be found in the fact that its currency was created specifically to be deflationary and destined to grow in value over time. The developers are keen to promote the ‘buy and hold’ philosophy, to get away from the cryptocurrencies reputation as the wild frontier of investments. Is all this enough to convince people to invest their resources?
The team behind the project, composed of young crypto enthusiasts who come from several other industries, is led by John Karony. Another feature of SafeMoon is that the team considers the active participation of the community (the so-called SafeMoon Army) indispensable for the success of the protocol, making it one of the most community-driven projects in the crypto world. This factor certainly had a positive influence on its growth in popularity at the end of 2021.
SafeMoon supply is quite high, considering that until a few months ago there were 1 trillion coins in circulation, then reduced to 575 billion as of 17 April 2022. Probably, the token burn strategy will have some kind of effect on the value of the currency, but still, it would take a real mass adoption to push it to overcome its old all time high.
Cryptocurrencies are gaining more and more popularity and visibility in the investing world, thanks to their flexibility and adaptability to any type of portfolio, large or small. This trend is definitely revolutionizing the industry and opening the doors of finance to people, who didn’t have access to it before for various reasons. Since the birth of bitcoin, we have seen a succession of new coins linked to more or less valid projects. Most of these are still in circulation, while others have unfortunately almost disappeared for a variety of reasons, including the abandonment of the project. It is becoming increasingly difficult to find the right currency on which to invest, because of the wide selection and the different characteristics that these have. It is always recommended to do your own research before acting.
In the spring of 2021, a newly launched project called SafeMoon has caught the attention of numerous people, especially newbies, attracted by a noticeable SafeMoon price increase. The reason is to be found in the fact that its currency was created specifically to be deflationary and destined to grow in value over time. The developers are keen to promote the ‘buy and hold’ philosophy, to get away from the cryptocurrencies reputation as the wild frontier of investments. Is all this enough to convince people to invest their resources?
Take Some Time and Study the Characteristics of the Project.
As already mentioned before, SFM has been created with the aim of being primarily an investment currency designed to be held and to grow in value over time. Token holders can earn up to 80% APY that comes from automatic LPs, the penalty paid by token sellers and staking. SafeMoon’s manual burn strategy also helps holders in the long term, according to the white paper.The team behind the project, composed of young crypto enthusiasts who come from several other industries, is led by John Karony. Another feature of SafeMoon is that the team considers the active participation of the community (the so-called SafeMoon Army) indispensable for the success of the protocol, making it one of the most community-driven projects in the crypto world. This factor certainly had a positive influence on its growth in popularity at the end of 2021.
SafeMoon supply is quite high, considering that until a few months ago there were 1 trillion coins in circulation, then reduced to 575 billion as of 17 April 2022. Probably, the token burn strategy will have some kind of effect on the value of the currency, but still, it would take a real mass adoption to push it to overcome its old all time high.
Ultimately: is SafeMoon a Good Investment?
There is a clear difference between being a trader and an investor: the first has certain short-term goals, the second has other long-term ones. By separating the two, you can then decide which of the two strategies to adopt according to your needs and desires. The idea of the SafeMoon project seems quite ambitious and tempting, but it should not be the only decision-making meter. If you would like to learn more about SafeMoon,feel free to visit the Gate.io exchange website.
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