There are more than 8,000 digital assets. Not all of them possess a worthy following or trading volume. Some are very popular among crypto traders and investors, especially when seeking profitable crypto deals. However, some are not a good solution for deals or investments.
Among the latter, Safemoon is one of the most intriguing digital assets. It was launched on the Binance Smart Chain blockchain in 2021. The principal peculiarities of this cryptocurrency are the fees it charges. Traders are to pay a 10% charge. Half of it goes to SafeMoon’s current holders, and the other half goes to a liquidity pool. The market cap of the coin is about $995,852,915.
There are several reasons why it’s necessary to trade Safemoon to BNB. They are the following:
- The greater part of online platforms supports Binance coin but don’t support Safemoon. So you should be ready for challenges when it’s necessary to utilize the token. You should be ready to spend lots of time trying to find a proper platform to complete the needed transactions.
- You need to convert crypto into fiat. It’s impossible to trade Safemoon straight to traditional fiat. It’s necessary to convert Safemoon to BNB and only then to USD or other fiats,
- The future of Safemoon is unclear. Despite the success of the cryptocurrency at the very beginning of its existence, nowadays, it goes through a tough period. It is still prone to volatility.
The number of crypto exchanges that deal with Safemoon is limited. Therefore, you may explore only a few options if you desire to trade Safemoon to BNB with minimal fees.
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Pancake Swap Exchange
It is a decentralized exchange platform that is relatively popular among users. It is based on the Binance Smart Chain. The significant advantage of the platform is that you are to perform all the transactions of the service directly through your wallet.
To swap Safemoon to BNB, you have to use your digital wallet. It’s up to you to select the most convenient one, but Trust Wallet seems to be the best solution. You should use an online calculator to determine how large the fees are.
This crypto exchange platform was launched in 2018. It deals with the greater part of the most popular cryptocurrencies and rare ones, Safemoon. As a result, the liquidity of the platform is rather high. Moreover, the service offers a mobile version. Thus, you are to trade Safemoon to BNB even on the go.
You should visit https://letsexchange.io/exchange/safemoon-to-bnb to explore the peculiarities of this instant exchange platform. It allows you to convert one token to another within a few minutes. You do not need to complete registration and verification procedures,
On the website https://letsexchange.io/, you can find all the necessary information about the needed coins. Yet, you should not monitor the rates. The program always offers the most profitable variant depending on the market conditions.
So, converting Safemoon to BNB may become a real challenge for both newbies and pros. That’s why it’s of prime importance to use reliable and convenient crypto exchange platforms.
Also Read: How Beginners Can Get Started In Crypto