BitMart is known as one of those large exchanges that let you buy SafeMoon. There is only one particular way through which you can buy SafeMoon on BitMart and that is with Tether (USDT). This is a long process as compared to buying widely available cryptos such as Bitcoin, but still, the process is relatively simple and easy to understand.
In today’s article, we will be tackling this very issue and learning a bit about SafeMoon crypto.
So let’s begin.
What is BitMart SafeMoon crypto?
Bitmart Safemoon is a decentralized finance token of the Binance Smart Chain and the value for its holders is derived from its depreciating supply.
This is made possible by incorporating a 10% penalty fee, or tax, for any sellers of the SafeMoon token. This penalty discourages any further selling and rewards those who continue to hold on to SafeMoon.
Now, let us tackle the big question of how to buy SafeMoon.
Complete buying procedure of SafeMoon on BitMart
To buy SafeMoon on BitMart follow the steps mentioned below:
- Download the BitMart app or visit the BitMart website: You can download the BitMart app on both the Apple App store and the Google Play Store. As an alternative method, you can access BitMart’s online platform at bitmart.com.
- Set up a BitMart Account: For creating your BitMart account simply enter your phone number or email address, create a password and verify your account. Any further details regarding your residency and identification will be needed to complete the full verification. The next thing to do would be to make a deposit.
- Make a deposit: BitMart account does not allow fiat currency deposits to be made. Users can only buy crypto through fiat currency or transfer crypto through another exchange. One of the safest and most efficient ways to buy SafeMoon on BitMart is by directly buying USDT with U.S. dollars or any other acceptable currency. Remember that fees do apply. MoonPay is one of the most popular options, with a fee of 3.5%.
- Buy SafeMoon with USDT: Once the first purchase of USDT has been settled, users can search for SafeMoon or SFM and select the buy option. Once the user accepts the transaction, the USDT tokens will be exchanged for SafeMoon and all their new holdings will appear in the Assets tab.
That’s it! This was the complete step-by-step breakdown for buying SafeMoon on BitMart.
The entire process of acquiring SafeMoon tokens may look complicated and difficult but trust me once you begin the process it will feel like a cakewalk to you. Because of not having a whole lot of alternatives for acquiring SafeMoon tokens, it is more difficult than buying or selling well-known cryptos such as Bitcoin and Ethereum.
BitMart offers one of the largest cryptocurrency selections we've seen and competitive trading fees. With plenty of advanced features, including margin and futures trading
We hope that you found this article helpful in your quest to know the working mechanism of buying BitMart SafeMoon. If you have any queries or doubts feel free to drop a question in the comment section below.