![]() ![]() If you’re looking to buy SafeMoon on BitMart, there are a few simple steps you’ll need to follow. Those looking to trade cryptocurrencies should consider other exchanges that have higher ratings and fewer customer complaints. While BitMart may be a large exchange, it does not guarantee safety for its users. In comparison, FTX and Binance rank among the best crypto exchanges, with scores above 8.5 and 9.9, respectively. CoinMarketCap gives BitMart a score of 5.5 out of 10 based on web traffic, liquidity, transaction volume and legitimacy. These issues raise questions about the safety of using this exchange. The core problems highlighted by its users were promised funds not being returned and a lack of communication from BitMart. However, in late 2021, the exchange was hacked and many customer complaints ensued. Is Bitmart a trustworthy company?īitMart is one of the largest cryptocurrency exchanges in the world and it has stated that its core priorities are trustworthiness, accessibility and professionalism. Users can trade more than 1,000 cryptos on the platform, take advantage of its staking services and buy and sell NFTs.īitMart is one of the leading exchanges in terms of trade volume and offers competitive fees for its users. In addition to its web platform, BitMart has an app available to download on both the Apple App Store and the Google Play Store which are rated 4.6 stars and 3.0 stars, respectively. The company was founded in 2018 and is headquartered in the Cayman Islands.īitMart supports crypto trading in more than 180 countries and services 9 million customers. What Is Bitmart?īitMart is a centralized cryptocurrency exchange that enables users to buy and sell digital assets. It remains to be seen whether SafeMoon can weather this storm and come out the other side unscathed. Many experts have come to the conclusion that SafeMoon shows all the hallmark traits of a Ponzi scheme and argue that the token has no real use.ĭespite this, SafeMoon has remained popular with some sections of the crypto community and continues to be traded on major exchanges. More worrying, however, is the fact that SafeMoon is facing a class-action lawsuit for defrauding and misleading investors. The token was launched in March 2021 and received heavy criticism from media outlets and crypto influencers.Įven diehard SafeMoon advocates have voiced dismay due to not receiving promised redistribution payments for holding the token. It is safe to say that SafeMoon has had a turbulent few months since its launch. Now, 4% of all tokens will be redistributed to existing holders, 3% will go into the liquidity pool, 2% will be burned, and 1% will be allocated to the SafeMoon ecosystem growth fund. The team behind SafeMoon has announced an update to the tax distribution for SafeMoon V2. There are no fees or charges for swapping SafeMoon V1 tokens for SafeMoon V2 tokens. Right now, a 100% transaction tax is being imposed on SafeMoon V1 in order to encourage users to switch to SafeMoon V2. This change was made in order to incentivize migration to the updated version of the token. However, for SafeMoon V2, the entire 10% fee will be redistributed to token holders. The main difference between the two versions is that SafeMoon V2 has a new distribution model for the 10% fee that is charged on each transaction.įor SafeMoon V1, 5% of the fee went to liquidity pools, and the other 5% was redistributed to token holders. SafeMoon V2 is the updated version of the token, which was released on December 13, 2021. SafeMoon V1 was the original version of the SafeMoon token, which was launched in March 2021. What exactly is the difference between SafeMoon V1 and SafeMoon V2? This is done by charging a 10% penalty fee, or tax, to any sellers of the SafeMoon token. The value of holders derives from the depreciation of supply. SafeMoon is a decentralized finance token built on the Binance Smart Chain. ![]() The Binance Smart Chain is a smart contract platform that runs on the Ethereum blockchain and incorporates several cryptocurrency features. Can I Buy SafeMoon on Coinbase, Binance,, WeBull, Robinhood or Kraken?.How to Convert SafeMoon V1 to V2 on BitMart.
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