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The most fundamental thing you need to understand about Safemoon is that it is not a crypto coin. It is a token that operates on the Binance Smart Chain (BSC). In crypto jargon, a coin is a cryptocurrency that operates on its own blockchain. It is not the same as a token.

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On the other hand, cryptocurrencies come with a host of risks and drawbacks, such as illiquidity and value volatility, that don’t affect many fiat currencies.
This saw Bitcoin prices tumble to below $30,000 in a dramatic plummet from its soaring success. .

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Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
5% is reflected on to all holders for passive income. 5% is added to the liquidity pool. A burn wallet receives a portion of the reflections to never be seen again.

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Brooks led the Office of the Comptroller of the Currency (OCC) before joining Binance.US. At the time, his move to Binance.US raised some eyebrows because Binance is not seen as the poster child of compliance, particularly compared to Coinbase where Brooks worked before joining the OCC.
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Like traditional currencies, cryptocurrencies express value in units — for instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50.”

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In 2019 Facebook said it plans to introduce a cryptocurrency that at the time was called Libra.

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    There is also a 25% discount to your fee if you use Binance Coin (BNB) to pay your transaction fee. To do this, you just have to hold Binance Coin in your Binance.US account, and your trading fee will be automatically deducted from your Binance Coin balance.

    We should also point out that if we had been given labels on the Y-axis (which obviously we are not), it might become clear that these “daily Covid cases” refer to US Covid cases. Because while a US chart looks exactly like the one above, a chart showing worldwide Covid cases doesn’t; instead it looks like this (according to Google):
    Cryptocurrency exchanges are vulnerable to cyber attacks that might result in your investment being lost forever — scams are always a possibility with cryptocurrency. Scammers frequently use social media platforms such as Instagram, Facebook and Twitter to dupe consumers into making these investments. If you believe you've been targeted, you should contact national reporting centers like Action Fraud in the United Kingdom or the Federal Trade Commission (FTC) in the United States as soon as possible.

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    However, while there are some organisations that accept it as currency, others shy away due to Bitcoin’s dramatic price swings. Driven largely by speculation, the price per Bitcoin rose sharply from $1,151 in January 2017, to an all-time high of $19,783 in December the same year.* It then dropped to below $7,000 by February 2018 and rallied again to around $11,000 over a matter of days, before plunging once more to trade below $4,000. Subsequently, one of the key characteristics of Bitcoin that traders should understand is its potential for extreme volatility.

    Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
    Transfer USD to your Binance.US account for no feeSet a market or limit order trade for USD to Bitcoin for a 0.1% fee

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    It’s impossible to determine at this point whether SafeMoon is a riskier investment than any of the other 4,000 or so active cryptocurrencies. Crypto skeptics like Megan Horneman, direct of portfolio strategy at Verdence Capital Advisors, warns investors to steer away from all digital coins, since they have no underlying assets and are threatened by regulatory oversight.

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    Cryptocurrency developers build these protocols on advanced mathematics and computer engineering principles that render them virtually impossible to break, and thus to duplicate or counterfeit the protected currencies.

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    More and more cryptocurrencies are entering the market every day, each one offering a slightly different model to attempt to attract investors. One of the most intriguing cryptocurrencies launched this year is SafeMoon, which looks to take the DeFi world by storm.
    Additionally, 4JNET has its smart contract audited by a world-leading blockchain network security firm. CertiK is known for working with big platforms. Their portfolio includes providing audit services for Binance, Huobi, and OKEx, in addition to blockchain ecosystems like Ethereum, Terra, and Neo.

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The blockchain technology backing cryptocurrency is inherently secure, thanks to the decentralized — and public — nature of distributed ledger technology and the encryption process every transaction undergoes.

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With its bullish structure now invalidated, those looking for long positions will need to eye support levels at $2.44 and $2.2. Should the crypto market remain bearish (with BTC having a probability of revisiting $60-62K), these levels are likely to come into play.

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After a year of gains and record highs, crypto currencies are enduring a turbulent time with unpredictable price changes.

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