Bitcoin (BTC) crashed to just $8,100 on Oct. 21 — but only if you were trading on Binance’s dedicated United States exchange, Binance.US.
These are just two of the cryptocurrencies that challenge Safemoon’s dominance, and some, like Bitrise, face very stiff competition against Safemoon on the basis of the products on offer, among many other features. From the powerful wallet to exchanges, among many other products, the coin is one of Safemoon’s toughest competitors.
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Numerous others have also made their mark on the industry, some of whom Cointelegraph lists in its top 100 people in crypto and blockchain for 2021.
Critics also highlighted that its website contained many spelling mistakes and grammatical errors. The website is no longer online and social media accounts promoting the tokens have also vanished.
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4 November 2021$CAKE #SAFEMOON $CATE $NFTB $SLIM $FEG $YOOSHI $BSCX $LINK $FTM pic.twitter.com/6BCyllEQ3F
It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to some time ago. This is just one sign that Safemoon is in deep trouble.
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As a beginner in crypto, you’re unlikely to know which cryptocurrency is the best and which one to invest in. There are more than 6000 cryptocurrencies, so picking out the best one with high growth potential by yourself may be an arduous task. Bitcoin is an obvious crypto investment given its popularity and constant growth – even with the frequent market volatility. However, there are many other cryptocurrencies that you can invest in with high growth potential as well.
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SafeMoon is available at dirt cheap price and the coin remains to be low-hanging fruit for investors. Even for a mere $10, investors can get more than 2.5 million tokens. Investors need to make use of the dip and add in bags of tokens, for when the coin reaches a milestone, their investment can spike tenfold.
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You should also look out for an email from Robinhood as the company is reaching out to people affected.
Miners serve as record-keepers for cryptocurrency communities, and indirect arbiters of the currencies’ value.
Safemoon investing will be made much more accessible if this happens, leading to more accurate price data. Time will tell whether this happens, but keep an eye out in the months ahead.