American singer Nick Carter, YouTuber Jake Paul and rapper Lil Yachty and all already own SafeMoon, the cryptocurrency that literally promises the moon to its holders. This digital currency was developed on the Binance Smart Chain blockchain in March of last year. SafeMoon’s slogan, “Safely to the Moon,” is taken from the expression “to the moon,” which means “to rapidly grow in price.” John Karony, a former analyst for the US Department of Defense, is the CEO of SafeMoon.
According to Vice, SafeMoon’s value surged by 23,225 percent between March 14 and April 21, 2021, thanks to celebrity endorsements from musicians Lil’ Yachty and Nick Carter, as well as YouTuber Logan Paul, social media buzz, fresh exchange listings, and retail investors. “Cryptocurrencies like Safemoon still have no real-world use,” Vice said at the time.
SafeMoon stated in May 2021 that it would make a presentation to The Gambia in order to provide “technology for innovation and learning reasons.” The SafeMoon wallet was put into beta testing in June 2021. In September 2021, the app was released on Google Play, and in October 2021, it was released on the App Store. SafeMoon published Version 2 (SafeMoon V2), an improved version of the SafeMoon contract, in December 2021.
On its own blockchain, SafeMoon wants to establish its own blockchain, cryptocurrency exchange, hardware wallet, and macro Internet of Things infrastructure.
SafeMoon, like all other cryptocurrencies, provides a financial ecosystem free of intermediaries. SafeMoon, on the other hand, has a unique business model in which investors are encouraged to keep their assets rather than sell them. Those who fail to follow this advice must pay a transaction charge of around 10%, half of which will be distributed to SafeMoon investors as a dividend. It’s a punishment that, according to the project’s founders, should encourage long-term investments and help the cryptocurrency’s price stabilise.
That hasn’t stopped some investors from putting their money into SafeMoon. And its online appeal has a lot to do with it. DJ Afrojack, basketball star Jason Hart, and YouTuber Daniel Keem are among the celebrities who have commended the digital currency to their millions of followers on social media. The most ardent fans can even purchase SuperMoon-branded items, prompting the British magazine The Face to describe it as “something of a cult.”
However, if brave (or oblivious) investors want to join the SafeMoon club, they’ll have to wait, as they won’t be able to do so on just any cryptocurrency trading platform. Potential investors must first open a SafeMoon wallet and purchase Binance Coin, the crypto leader Binance’s virtual currency.
Finally, these Coins must be exchanged into SafeMoon tokens. This procedure is likely to deter some SafeMoon supporters, particularly those who are fresh to the cryptocurrency industry. But anything is conceivable in this burgeoning market.