Is SafeMoon a Store of Value? Experts on SafeMoon as Digital Gold

Is SafeMoon a Store of Value? Experts on SafeMoon as Digital Gold
Photo by Alesia Kozik from Pexels

SafeMoon is one of the latest cryptocurrencies, and it is known as a decentralized finance token. It implies that the digital asset is a part of an alternative financial system that enables trade on peer-to-peer chain networks with no intervention of centralized systems, like governments or banks. It operates on a blockchain network, just like BTC and other coins. 

Many people want to know whether they need to perform SafeMoon to BTC convert or any other action connected with this cryptocurrency. Thus, we will try to figure out how worthy it is. 

SafeMoon Fees

If you decide to sell SafeMoon, then you should be ready to pay a 10 percent fee. Half of the amount is going to be paid as a dividend to current investors. Founders of the cryptocurrency claim that the idea behind this penalty is to prevent day trading and mitigate the price volatility. 

The token`s price used to be 0.000004563 dollars in May, but it reached 0.00001399 dollars one month later. It also implies that there has been a 33 percent decrease since then; consequently, the founders have not brought it under control yet. 

Should They Invest in SafeMoon?

Investing in any cryptocurrency is high-risk, and SafeMoon is no exception here. Thus, it should be done by those who understand coins, have carried out extensive research, and can afford to lose the amount. 

Can SafeMoon Be Regarded as a Good Investment?

In spite of the desire to gain some stability via the fees paid by investors who sell their coins, substantial price volatility has taken place. It implies that traders could have made both staggering losses and impressive gains, which was dependent on their financial situation. 

Investing in digital assets is a bit like gambling, so they do not recommend investing entire savings in this token. 

Is This Cryptocurrency Safe?

Just like in the case of any investment in shares and stocks, or other digital assets, the SafeMoon value can fall. If they decide to sell on the back of a fall, they will face not only capital losses but a 10 percent penalty as well. 

The Financial Conduct Authority also warned people about the risks of cryptocurrency investing that advertises high returns. The warning appeared when the BTC price reached unprecedented highs doubling the value in just a month. 

However, analysts seem to be optimistic about the cryptocurrency`s price. They believe that the SafeMoon value will increase to 0.000051 in a year, and it can even become 0.000237 in five years. At the same time, they are just a forecast, and if you look at any coin price chart, one thing becomes clear – it is going to be a very bumpy ride. 

It is a bit early to see what influence SafeMoon`s sale tax will have on potential trader appetite. To sum it up, you can consider this cryptocurrency is a good investment, but you should consider all the risks and think what amount you can afford to lose before you invest.



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