How M&M made Thar a product, price and branding combo, and drove beyond off-road purists
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Clear regulation would mean the removal of a “significant roadblock for cryptocurrency,” says Wang, since U.S. firms and investors are operating without clear guidelines at the moment.
There are also individual withdrawal fees for moving your crypto holdings from your Binance.US account into your own crypto wallet. These fees vary based on the type of cryptocurrency.
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One investor who wasn’t deterred was Barstool Sports Inc. founder Dave Portnoy. In May, he announced to his 2.6 million followers on Twitter that he’d bought US$40,000 worth, despite saying that SafeMoon could be a Ponzi scheme, a scam in which early investors’ returns are paid with funds coming from later buyers that collapses when new deposits dry up or too many people try to cash out.
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That can mean serious savings for investors, especially compared to some other exchanges. For example, if you want to buy $100 worth of Bitcoin on Coinbase, you’d actually end up with about $96.51 in Bitcoin, after fees. On Binance.US, you’d still have $99.99 to purchase Bitcoin after accounting for the 0.1% fee.
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WARREN DAVIDSON: The industry is basically pleading, give us some regulatory clarity.
What impact do cryptocurrencies have on the environment? Energy consumptions of ...
It appears the coin became widely recognised on Twitter and many of its posts have thousands of likes by cryptocurrency watchers.
Overall, we’d urge you to do your own research if you were to invest in Safemoon. Common investment advice states that the cryptocurrencies which perform the best over the longer term are those with real-world utility, which Safemoon doesn’t seem to have at present. Although the developers may improve the protocol and create some valuable use cases, there is still the chance that this coin could be a ‘memecoin’.
As of November 9, SafeMoon has 2,865,000 holders. There has been a consistent rise in the number of SafeMoon holders over the past two months.
Yahoo Finance Live's Brian Sozzi, Julie Hyman, and Emily McCormick discuss the stock rebound for Tesla after founder Elon Musk sells $5 billion of his shares following a Twitter poll, while EV newcomer Rivian tops expectations in his IPO debut.
Former winners include musician Tamar Braxton and Broadway star Marissa Jaret Winokur