The Crypto world is on the rise. But it also means there are many options out there. With some 106 million users globally trading in more than 2,300 cryptocurrencies, not all cryptocurrencies take off. 1500 of them failed to do the job despite well laid plans. Thats why Safemoon is a new cryptocurrency that plans to make the best of it. Its plan focuses on the “Secret sauce”, which is an automatic liquidity pool.
The loyal investors are rewarded and speculators are discouraged in Safemoon. Under this system, sellers will pay a 10% penalty, half of which is redistributed to existing holders. It will be helping to create what they hope will be a ‘price floor’. Safemoon wants to encourage investors to buy and hold the currency. The developers are keen to promote the ‘buy and hold’ philosophy. Cryptocurrencies’ have a tarnished reputation as being wild investments.
Safemoon has tremendous potential. It means the next steps of the company is going to be worth watching. The developers say they are working on the integration process with WhiteBIT. It is a crypto-to-fiat currency exchange offering more than 150 trading pairs. They are also planning on working with BitMart, the cryptocurrency trading platform.
As mentioned earlier, 1500 cryptocurrencies have already crashed. But SafeMoon seems to be trying to address the weaknesses of cryptocurrencies. In particular Safemoon wants to work with its 10% sales charge to encourage investors to buy and hold and discourage sellers. Gaining the backing of any market is not easy but, for the fickle and volatile cryptocurrencies Safemoon believes it takes time to get to the moon.