Buying Safemoon was once considered hard, as there were very limited options to buy Safemoon. But after the launch of Safemoon wallet, many crypto trading platforms like BitMart made it easy to invest in Safemoon. In this post, you will know the Simple Steps to Buy Safemoon on BitMart.
Table of Contents
What is SafeMoon Coin?
SafeMoon is a new cryptocurrency, which is launched in March 2021. The idea behind the coin was to make this coin so popular, that its price goes to the moon.
As of January 2022, the market cap of this coin is nearly 1 Billion dollars. Which ranks SafeMoon at 214th Place among 9,000 Cryptocurrency.
What is BitMart?
SafeMoon is available on BitMart and can be bought easily, although you can also find Safemoon in Binance and Wazir X like crypto trading platforms.
BitMart is a cryptocurrency trading platform, it lists more than 800 Cryptocurrencies. BitMart was launched in March 2018.
Like Coinbase and Binance, BitMart is also a centralized trading platform.
To Learn How to Buy SafeMoon on BitMart?
SafeMoon cannot be bought directly, with any fiat currency (Such as US Dollar).
In order to buy a SafeMoon coin, you have to first exchange it with any other cryptocurrencies. Like Bitcoin, Ethereum, you can also buy any stable coin, eg. USDT.
Step #1 – Download & Create BitMart Account
BitMart is available on both Android & iOS, so you can download BitMart easily from Google Play Store or App Store.
Step #2 – Fund Your Account & Buy Other Crypto
As SafeMoon cannot be bought directly, you have to exchange it with another popular cryptocurrency.
But first, complete the KYC of your account, and fund your account.
To fund your account, you have to click on Buy and Sell, in the upper right corner of the app.
Then, you have to buy Tether (USDT), in order to buy SafeMoon, as you can’t buy SafeMoon from Fiat Currency.
Tether is a Stable coin, as these coins are least fluctuating, won’t make them too high or low as our final goal is to exchange them with SafeMoon.
Buy USDT, and complete your payment. You can use Apple Pay to Complete your Payment.
You can also use Debit Card to make payment, just enter the amount, tap on continue, and add debit card details, then complete your payment.
Also, You can complete your payment with your bank account, as BitMart is available in 180 Countries, so almost all the fiat currency is accepted.
Once you’ve got USDT, now you just have to exchange it with SafeMoon
Step #3 – Buy SafeMoon on BitMart
Wonderful! as you have completed previous steps successfully, now you just have to trade SafeMoon with the coin you bought (eg. USDT)
The Last Steps –
- Go to the Market Section of BitMart.
- Search for SafeMoon.
- Tap on SafeMoon.
- Trade it with other Cryptocurrencies you have.
- Enter the Amount.
- Exchange it with the other coin, after seeing the exchange price.
Woohoo! once the order is executed, SafeMoon will be reflected on your BitMart account.
That’s How you can Buy SafeMoon on BitMart.
To Learn How to Sell SafeMoon on BitMart?
The basic rule of selling cryptocurrency or any asset is to buy it when it’s undervalued and sell it when it is overvalued.
The same goes with SafeMoon also, although when you sell SafeMoon on BitMart you won’t get USD or any fiat currency. Instead, you’ll get a cryptocurrency you exchange it with.
For example, Tether Coin, if you sold your SafeMoon coin in exchange for Tether, the equivalent amount of Tether coin will be deposited into your account.
Now, you cannot withdraw your cryptocurrencies in Fiat Currency in BitMart.
So, in order to sell our cryptocurrency and get USD or any Fiat Currency, we have to transfer it to any other wallet. Like Coinbase, Trust Wallet, etc.
How to Transfer Cryptocurrency to Coinbase –
As you have your Cryptocurrency in BitMart, you don’t have to buy it again on Coinbase, you can just transfer it to Coinbase.
- Create Your Account on Coinbase, complete your KYC and name your Wallet.
- Search the coin you want to transfer, for example, Tether, go to search and search for Tether.
- Tap Tether and click on the wallet, on the upper right side, you’ll see a QR code icon, tap on it and Copy Address.
- Now go back to BitMart and Select Tether, and tap on Withdraw.
- On Address Tab, paste the address you have copied.
- Enter the Amount, see the fees and if you agree with it, tap on Withdraw.
- Enter your verification information to transfer SafeMoon.
That’s it, now you have transferred it to Coinbase, you can sell it and USD or any other Fiat Currency in exchange.
Also, read our ultimate guide to sell SafeMoon on Trust Wallet!
SafeMoon Articles on ErroExpress – Ultimate Guide: How to Sell Safemoon on Trust Wallet
Frequently Asked Questions About SafeMoon
How to Buy SafeMoon on Coinbase
These are the steps to buy SafeMoon on Coinbase –
#1. The first step is to download Coinbase and create your account thereby verifying your email id and phone number.
#2. Complete your KYC
#3. In order to buy SafeMoon, you’ve to first buy Ethereum (ETH) and then exchange it with SafeMoon.
#4. Search ETH on Coinbase and buy ETH, see the fees and charges, and if you agree with complete your payment, by selecting payment method which is available to you.
#5. Then go to the Trade Tab in Coinbase, where you can swap your ETH with SafeMoon.
#6. Tap on chose coin there, select SafeMoon, swap it with ETH, and that’s how you can buy SafeMoon on Coinbase.
Is Buying SafeMoon Worth?
At this point we can’t say it is worth it or not, cryptocurrencies are a relatively new concept and many people trust them.
In short term a coin can grow because of its hype, but if in long term a coin has to grow it needs strong fundamentals.
So, if you believe SafeMoon coin holds strong fundamentals, then figure out its valuation.
If you find it overvalued or hyped don’t invest in it, and if it is undervalued, you should definitely buy it. It will be worth it.
That’s it for this article, to get more knowledge about crypto, you can scroll through our website and find some of the best articles on cryptocurrency.
Thanks For Reading!