SafeMoon uses an individual tokenomics model to incentivize long-term holding and deter short-term selling. If you are an Investor who wants to purchase SafeMoon and use Trust Wallet to store it, you are in the right place. This blog will provide you with a step-by-step process of how you can buy Safemoon on Trust Wallet.
What Do You Need to Initiate the Purchase?
You need a smartphone and Trust Wallet app, which you can download from the Apple App Store or Google Play Store. You’ll also need Binance Coin (BNB) to swap it for SafeMoon. Last but not least, you need to have a good internet connection.
Step 1: Install Trust Wallet
Download Trust Wallet
First, you must download and install the Trust Wallet app on your phone. To do so, you simply need to type Trust Wallet into the App Store or Google Play Stores Search tab on your smartphone and download it. Trust Wallet is a quick and secure way to store multiple currencies.
Setting Up Trust Wallet
Some setup is required when opening a Trust Wallet; select Create a New Wallet, and then back up your recovery phrase. It is essential to write it down to keep it safe. Enter your recovery phrase in the correct order to confirm it. This recovery phrase is a backup to recover your wallet if you misplace your phone or wallet. Now, your Trust Wallet has been successfully created.
Step 2: Add Binance Coin (BNB) to Your Trust Wallet
You will need Binance Coin (BNB) in your Trust wallet to purchase Safemoon. You can follow these steps to obtain BNB.
Buying BNB
You can acquire BNB through a Trust Wallet application. Open the Trust Wallet, find a “Buy” button on the main page, and choose “BNB” from the list of cryptocurrencies.
Then, enter the amount of BNB you need to buy, and complete the process by following the guidelines on the screen. Payment methods like credit/debit cards can also be used to obtain the coins; just ensure you have adequate money to pay the charges or purchase.
Transferring BNB from Another Wallet
If you have BNB on another wallet or exchange, you can send it to your Trust Wallet. To do this, go to Trust Wallet and tap “Receive,” choose BNB, copy the BNB address, or scan the QR code. Then go to your other wallet and transfer BNB to your Trust Wallet address. Moving BNB usually takes a little time, so don’t worry while waiting for a transaction to be completed.
Step 3: Swap BNB for Smart Chain BNB
You’ll need a regular Binance Coin(BNB) to swap with Smart Chain BNB to purchase SafeMoon.
Open the Trust Wallet app, Choose “BNB” from the main screen, Select “Swap to Smart Chain” from the menu located at the top right side, and put the number of BNBs you want to swap or purchase; now your Trust Wallet has Smart Chain BNB in it.
Step 4: Enable SafeMoon in the Trust Wallet
You need to allow SafeMoon in your Trust Wallet before purchasing it.
Open the Trust Wallet account. You will find the icon in the top right corner of the main screen. Click on it. Look for “SafeMoon” and turn on the switch button to activate it. In this way, SafeMoon will appear in your wallet and help you track your transactions and balance easily.
Step 5: Swap Smart Chain BNB for SafeMoon
You can also purchase SafeMoon with a popular Decentralized exchange (DEX) called ‘Pancakeswap.’
Using PancakeSwap to Buy SafeMoon
To start using Pancakeswap, open Trust Wallet on your phone and click the ‘’dApps’’ button at the bottom. Pancake swap is regarded as one of the best Decentralized exchanges for Binance Smart Chain because it is easy to use and reliable.
To link Pankcakeswaap to your Trust Wallet, click on the ‘’connect button on the app. Select ‘’Trade’’ and then ‘’Exchange’’. Set the ‘’Option to Smart Chain BNB and ‘’TO’’ option to Safemoon, and then put the amount of BNB you want to replace for SafeMoon.
Now, set the slippage tolerance at 12%. When conducting your transaction, the slippage tolerance considers price changes and ensures that your transaction is completed even if there is a change in the price. Click on ‘’Swap complete the transaction.
After the transaction is confirmed, the swap might take a little longer to complete. Congrats! SafeMoon has officially transferred to you. Now, you can see your SafeMoon holdings and monitor the values in your Trust Wallet App.
Step 6: View your SafeMoon in the Trust Wallet
Open the Trust Wallet to see your SafeMoon balance and go to the main screen. You’ll have to scroll down your list of assets to find SafeMoon. To see more details of your holdings, click on SafeMoon. You will learn about current transactions and market value.
Conclusion
Purchasing SafeMoon on Trust Wallet may seem complicated, but following these instructions can easily purchase SafeMoon. To complete the purchase, you must install Trust Wallet, add Binance Coin, swap BNB for smart chain BNB, allow SafeMoon in your wallet, and use Pancakeswap. Make sure that you keep your wallet secure and keep updates on your investments.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.