Extra details about thecompetitor continues to filter out as individuals flip their consideration to different cryptocurrencies.
is a brand new cryptocurrency that appears to be a competitor because it depends on hype and social media dialogue, as I wrote for the
experiences that SafeMoon resembles “a pyramid scheme as an alternative of a sound financial coverage” since individuals are charged a payment for promoting their holdings.
- “Primarily, buyers depend on extra individuals shopping for into SafeMoon to extend their funding,” in keeping with .
SafeMoon vs. Dogecoin
So what makestotally different than Dogecoin and different cryptocurrencies? Properly, in keeping with , SafeMoon prides itself on not being a day buying and selling cryptocurrency the place individuals can promote rapidly and revenue. Slightly, it rewards long-term buyers.
To take action, SafeMoon will cost a ten% payment anytime somebody sells their holdings. Half of these charges are then despatched to SafeMoon coin homeowners, who obtain some extra cash as a prize or reward for holding their cash.
- “The purpose right here is to forestall the bigger dips when whales determine to promote their tokens later within the recreation, which retains the value from fluctuating as a lot,” informed .
- experiences that “most buyers would agree that Safemoon has greater potential for returns than DOGE, albeit a particularly excessive threat funding.”
What’s subsequent for SafeMoon?
Theplans to develop within the subsequent few months. desires to construct its personal app, a cryptocurrency pockets (which lets you view your holdings) and video games, in keeping with The corporate additionally desires to discover becoming a member of cryptocurrency buying and selling apps like Binance.