The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin. (Pic: Shutterstock)
These are just two of the cryptocurrencies that challenge Safemoon’s dominance, and some, like Bitrise, face very stiff competition against Safemoon on the basis of the products on offer, among many other features. From the powerful wallet to exchanges, among many other products, the coin is one of Safemoon’s toughest competitors.
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But no true cryptocurrency emerged until the late 2000s when Bitcoin came onto the scene.
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Popular cryptocurrencies such as Bitcoin and Ethereum are built on blockchain technology. Blockchains like Bitcoin and Ethereum are constantly growing as new blocks are added to the chain, increasing the security of the ledger dramatically.
Learn what crypto day trading is and how to participate in three steps: Select a platform, evaluate your investment options, and pick a trading strategy.
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The global crypto market cap jumped about 4 per cent to $2.85 trillion. However, the total crypto market volume was almost flat to $97.46 billion.
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Bitcoin (BTC) crashed to just $8,100 on Oct. 21 — but only if you were trading on Binance’s dedicated United States exchange, Binance.US.
Yes, you can invest in cryptocurrencies using Indian currency, but you cannot use cash for the payment. Every investor needs a bank account linked to the crypto account to add money and make a digital payment. Only KYC-approved users can make such payments. Investors should note that exchanges charge some fees when you make an investment and redeem it. The fee levied may vary from one exchange to another, and from one currency to another.
With all these shortcomings when put against most of the competition, Safemoon is definitely in trouble. There is a lot that Safemoon team needs to do to make the coin competitive. Otherwise, few people will be interested in this Safemoon. This means low demand, and that's how Safemoon's coin value will crumble.
It may be a 2019 product, but it's still a premium streamer at an unbeatable price.