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SafeMoon doesn't tout itself as a cryptocurrency but instead as a DeFi token, a decentralised finance token. DeFi’s aim is to bring about disruption to the financial world and enable people to lend in peer-to-peer networks without needing a physical bank.
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SafeMoon is still a relatively new cryptocurrency compared to others, having only launched in March 2021.
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Without a clear track record to assess long-term value, cryptocurrency rises and falls on an unpredictable demand cycle. And for individual investors, the challenge is “you really don’t know where supply and demand can end up,” Aliaga-Díaz says.
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Some experts say this is high risk as SafeMoon’s success relies heavily on more and more people buying the currency to keep the price up.
Bitcoin is increasingly viewed as a legitimate means of exchange. Many well-known companies accept Bitcoin payments, although most partner with an exchange to convert Bitcoin into U.S. dollars before receiving their funds.
Although Binance.US is growing fast and is now considered to be one of the top exchanges in the United States, it doesn’t measure up to its parent company, Binance.
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Indians' investments in crypto grew from about $200 million to nearly $40 billion in the past year
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When you buy cryptocurrencies via an exchange, you purchase the coins themselves. You’ll need to create an exchange account, put up the full value of the asset to open a position, and store the cryptocurrency tokens in your own wallet until you’re ready to sell.