How to Sell SafeMoon

SafeMoon, a digital currency akin to Bitcoin and Ethereum, presents a unique approach to cryptocurrency investment. Its distinct feature is the encouragement of long-term holding over frequent trading. SafeMoon imposes a 10% fee on sellers, allocating half to existing holders and half to a liquidity pool to stabilize its price. This guide details the process of selling SafeMoon, especially through the Trust Wallet, covering necessary tools, steps, and considerations for a smooth transaction.

Prerequisites

To sell SafeMoon, you need the Trust Wallet app, PancakeSwap (a decentralized exchange on Binance Smart Chain), and an account with a major cryptocurrency exchange (e.g., Binance) for converting tokens to fiat currency.

Step-by-Step Guide

Step 1: Convert SafeMoon to BNB on Trust Wallet

1. Open Trust Wallet and select DApps (or “Browser” on iOS).
2. Navigate to PancakeSwap.
3. Connect your wallet to PancakeSwap.
4. Select SafeMoon to swap, choose BNB as the target token, and confirm the swap.

Step 2: Convert Smart Chain BNB to Binance Chain BNB

1. In Trust Wallet, select your Smart Chain balance.
2. Choose “SWAP TO BINANCE CHAIN” and confirm the transaction.

Step 3: Transfer BNB from Trust Wallet to Binance

1. On Binance, navigate to Wallets, select Deposit, and choose BNB.
2. Copy the BNB wallet address and MEMO.
3. Select your BNB balance in Trust Wallet and initiate a transfer to Binance using the copied details.

Step 4: Convert BNB to a Stable Coin/Fiat Currency

1. In Binance, find the BNB/USDT or BNB/BUSD trading pair.
2. Sell BNB for USDT or another fiat currency.
3. Transfer the funds to your bank account or sell on Binance’s P2P marketplace if necessary.

Additional Considerations

• Liquidity and Exchanges: SafeMoon’s liquidity is crucial for trading. It’s not listed on major exchanges like Binance or Coinbase but can be traded on PancakeSwap.
• Buying SafeMoon: Before selling, you must own SafeMoon. Purchase it through Trust Wallet and swap other coins (like BNB) for SafeMoon on PancakeSwap.
• Selling Strategy: Be aware of market volatility and plan your strategy to avoid losses.
• Exchange for Binance Coin: On PancakeSwap, exchange SafeMoon only for Binance Coin to avoid high fees or conversion issues.
• Portfolio Value: Track your SafeMoon value using apps like CoinGecko or CoinMarketCap or within Trust Wallet.
• Closing Positions: Convert SafeMoon to BNB or another digital currency, then sell it. Be cautious of market price slippage and withdrawal fees.
• Withdrawal Requirements: Ensure you meet all withdrawal requirements on Binance, including minimum amounts and fees.

Conclusion

Selling SafeMoon involves converting it to BNB, transferring it to an exchange like Binance, and exchanging it for stablecoins or fiat currency. It requires careful navigation of cryptocurrency wallets and exchanges, with a clear understanding of fees and market conditions. This guide simplifies the process, aiming to assist new and experienced crypto market investors.

About SafeMoon

SafeMoon, launched in March 2021, is a DeFi token on the Binance Smart Chain. It encourages long-term holding by charging a 10% fee on each sale, distributed among current holders and a liquidity pool. This mechanism aims to reduce price volatility and discourage frequent trading.