How to Buy SafeMoon in the UK

SafeMoon is a relatively new cryptocurrency on the Binance Smart Chain blockchain.

The company aims to reduce volatility in the crypto market by charging a 10% fee on all sales of the currency, with half of the proceeds going to existing investors.

At the time of writing, a single SFM is priced at $0.00046230 with a market capitalization of $264,072,216 as at 13 May 2022.

In this guide, we will provide step-by-step instructions on how to buy SafeMoon in the UK.

Buying SafeMoon in the UK:

Buying SafeMoon in the UK isn’t as straightforward as it is in other markets because purchases need to be made by way of crypto exchange Binance, which is prohibited from carrying out regulated activity here by the UK’s financial watchdog, the Financial Conduct Authority (FCA).

To buy SFM, therefore, you’ll need to visit binance.com, which is based in the Cayman Islands and outside the FCA’s jurisdiction.

Step-by-step Guide:

Step 1:

Set up a Trust Wallet To buy SafeMoon in the UK, you will first need to set up a so-called ‘Trust Wallet.’

Download and install the Trust: Crypto & Bitcoin Wallet app from the Google Play Store on Android or App Store on iPhone.

Create a new wallet within the app.

Step 2:

Buy BNB Once you’ve set up access passwords, select “Buy BNB” and type in how much you’d like to invest (in US dollars).

Once you’ve made payment, go to the main page of the app and tap on your BNB. Next, tap ‘More’ and then ‘Swap to Smart Chain’.

Step 3:

Connect to PancakeSwap Next, open your web browser and go to http://pancakeswap.finance.

There, you can connect to and login to your Trust Wallet.

Go back to your Trust: Crypto & Bitcoin Wallet app and tap ‘dApps’ in the navigation bar before selecting ‘PancakeSwap’.

Step 4:

Select SafeMoon Tap the connect button followed by TrustWallet.

Your Smart Chain tokens should now be in PancakeSwap.

Next, tap ‘Select a currency’ and paste in the following SafeMoon contract address: 0x42981d0bfbAf196529376EE702F2a9Eb9092fcB5 (correct at the time of writing).

If you’ve done that correctly, you should get a pop-up warning you about SafeMoon’s 10% fee, which you’ll need to accept.

Step 5:

Confirm Purchase Tap the icon in the top right corner and set your slippage tolerance – the difference between the price when you confirm the purchase and when you complete the purchase – to the advised level of 12%. Tap Swap followed by Confirm Swap.

Tap ‘View on BscScan’.

If you see ‘Success’, your SmartChain has been converted to SafeMoon.

Step 6:

View SafeMoon in your Trust Wallet On the main page of the TrustWallet app, tap the blue icon in the top right corner and scroll to the bottom to the search bar and type in ‘Safe’.

Tap ‘Add Custom Token’ and change the network to Smart Chain.

Under “Contract Address,” paste 0x42981d0bfbAf196529376EE702F2a9Eb9092fcB5 and tap Save.

You should now see your SafeMoon in your TrustWallet.

Analysis and Commentaries:

The world of cryptocurrency can be complex and confusing, with many risks involved.

The Financial Conduct Authority (FCA) has issued several warnings to investors that they should