Now that you’ve got an idea of what Safemoon is and its background, we can focus on the coin’s long-term outlook. Most beginner crypto investors simply buy Bitcoin (BTC) or Ethereum (ETH), although lesser-known coins such as Safemoon can be better options if you are looking for quick returns. However, that being said, these options tend to be much riskier, so this will depend on your risk tolerance.
It is pretty easy actually. The entire process involves five key steps. They are: a) Choose a crypto exchange; b) Create your account and verify it; c) Deposit the fund and start investing; d) Place you order to buy desired cryptocurrency, e) Select a storage method. However, there are also other ways to invest in cryptocurrencies. These include crypto ETFs (similar to those of gold and other ETFs) or investing in cryptocurrency-related stocks. These options are not so mainstream yet.
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Whilst demonstrating a respectable return, especially for a meme token, SafeMoon has the potential to spike again in the future. With expert, or lucky, timing you may be able to catch another huge market spike and benefit from the volatility of the cryptocurrency market.
Its Facebook page states: "Remember, getting to the moon takes time and the longer you hold the more tokens you pick up."
Fig 6. Wavelet coherence between Ethereum new authors and price decomposed for different period bands (with GSADF test bubble overlay).
However, investing in a crypto ETF, like BITO, still carries the same risk as any crypto investment. It’s still a speculative and volatile investment. If you’re not willing to lose the money you put into crypto by purchasing on an exchange, then you shouldn’t put it in a crypto fund either. Carefully consider if you’re willing to take on the risk of having cryptocurrency in your portfolio at all.
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Its founders have been holding ‘Ask Me Anything’ sessions to reassure potential investors of its legitimacy due to the unregulated nature of cryptocurrencies.
This update packs security upgrades, bug fixes and general usability improvements. Almost Non existent customer service. Update They won’t verify you so don’t even bother trying
“We do it in the equity market, we do it in the bond markets, people might want it here,” Gensler said at the Aspen Security Forum over the summer.
“It’s easy to get carried away, but such aggressive growth is highly unlikely to continue forever.”
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In June, the Chinese Government cracked down on considerable crypto mining operations taking place in the Sichuan province and demanded that Chinese banks and payment channels stop supporting decentralised and anonymous crypto transactions.
Exchanges bring their own steep learning curve as you’ll need to get to grips with the technology involved and learn how to make sense of the data. Many exchanges also have limits on how much you can deposit, while accounts can be very expensive to maintain.
Indeed, Amazon has recently sparked rumors that it’s making moves to that end by sharing a job posting for a “digital currency and blockchain product lead.” Walmart is also recruiting a crypto expert to oversee its blockchain strategy.
While still on the tokenomics, 4% of the 12% fee is automatically distributed to the token holders every 60 minutes in BNBs. Such active income is attracting many investors, and in the process, increases Bitrise coin market cap.