Is SafeMoon better than Moonshot in terms of investment?
This crypto bull run has a lot in common with what transpired in the build-up to the 2017 election. Cryptocurrencies appeared to be springing out of the ground at an alarming rate during that period.
Safe moon and Moonshot are recently launched cryptocurrencies that are undoubtedly going up every moment. But these altcoins seem sketchy due to their weak fundamentals and prospects. In this article, we will discuss the comparison of Safemoon and Moonshot and which one of them is a better investment.
Facts about Moonshot
Moonshot is a SafeMoon derivative. This signifies that its protocol is a modified version of SafeMoon’s. They are, however, different tokens; one’s mobility or protocol modifications do not affect the other. Moonshot’s launch was very recent, with the presale taking place at the end of March.
The Binance Smart Chain serves as the foundation for the Moonshot protocol. Purchasing MoonShot is somewhat more complicated than purchasing other cryptocurrencies. MoonShot tokens cannot be purchased directly with fiat cash. You must instead spend some of your other coins to purchase MoonShot tokens.
Moonshot, like its forefather SafeMoon, has an autonomous liquidity pool. Those who sell their Moonshot must pay a 10% commission. Holders receive 4%, with the remaining 6% divided in half. Half is placed in a liquidity pool, while the other half is converted to BNB before being placed in the pool.
Business Model of MoonShot
They want you to keep their MoonShot crypto tokens in your wallets as an incentive. If no one sells MoonShot tokens, the protocol will ensure that the price of MoonShot rises. Simply purchasing and keeping is the secret to success.
Furthermore, because they get rewarded for each transaction, every Moonshot holder has an incentive to expand the usage of Moonshot as much as possible. As more transactions occur in the network, everyone’s net value rises.
MoonShot is also considering the creation of non-fungible tokens (NFTs) to reward users in addition to this business model. This might include an NFT loot box program, an animated NFT series, NFT gamification elements, and arcade-style games for competitive play.
Is Moonshot a good investment?
Without a doubt, moonshot cryptocurrencies are at the upper end of risk. They have a great potential to increase in value. So it’s vital to establish a portfolio to diversify your risks while dealing with little to micro-cap cryptocurrencies.
To gain the most out of this, an ideal cryptocurrency should comprise at least ten cryptocurrencies and spend the same amount on each coin. Make sure to choose coins that fall in accordance with your risk intake and reward standards by:
- Doing your research.
- Create an evaluation to evaluate your risk tolerance and determine if investing in tiny and micro-cap cryptocurrencies is a viable decision for you.
- Pay strict attention to the goal price.
- Have an investing budget. It’s safe to invest a minimum of $50 and a maximum of $2,000.
Facts about SafeMoon
SafeMoon is one of the most recent cryptocurrencies to enter the market in 2021. This cryptocurrency initiative is a grassroots approach to decentralized financial systems. According to CoinMarketCap, there are already more than 2.5 million holders of the currency and 585.536 trillion coins in circulation since its first introduction in the first quarter of 2021. The inventors desired a currency that would guarantee “safe” earnings while avoiding the inevitability of bubbles.
SafeMoon crypto creators have a long-term goal for the cryptocurrency’s growth. Over time, holders gain passive incentives, and penalties deter selling. The most distinctive feature of Safemoon is that sellers pay a 10% commission. Let’s imagine you have 100 million Safemoon. If you sold all of them, the charge would be reduced by ten million dollars.
According to Safemoon’s white paper, the 10% fee on all sales is intended to reward long-term investors while stabilizing the price. Half of the price is allocated to all current Safemoon owners. The other half is utilized for a liquidity pool with Safemoon and Binance Coin (BNB). For early customers, Safemoon proved tremendously beneficial. Its price reached an all-time high of $0.00001399. on April 20. To put that in context, if you had invested $100 in Safemoon at launch, you would have received about $1.4 million in Safemoon.
Business Model of SafeMoon
The SafeMoon was meant to promote long-term investment while discouraging sales. It does this by charging sellers a 10% charge, with half of the money going to Safemoon’s current holders and the other half flowing into a liquidity pool, which is an effort to maintain price stability better.
Is SafeMoon a good investment?
Since mid-September, the price has been stuck at its present level. Given the successful wallet debut on the App Store, it might be poised for a rebound, or the floor could be breached, and the price could continue to plummet. Nobody is aware. Investing in SafeMoon is a personal choice that should be determined by the amount of risk you are willing to face.
Binance, the SafeMoon team, and whatever community is developed around it all have a role in SafeMoon’s success. Investing in cryptocurrency is a high-risk proposition. Always seek the advice of a competent adviser before trading money you can’t afford to lose.
Is SafeMoon better compared to Moonshot?
Safe moon has received a lot of backlashes. The Safemoon community has been likened to a cult, and it has been called a Ponzi scheme, a pump and dump, and a pyramid scheme. Given that SafeMoon accomplishes nothing and the only way to make money in the future is for more people to purchase, it does not seem to be a viable investment.
The price soared over 1,500 percent in early 2021, then plummeted by over 85 percent as of October 8. Investing in SafeMoon now seems to be a risky proposition. However, it is still a better investment than Moonshot and has better chances of growing up.
The reason behind this conclusion is that Moonshot is just another variant of SafeMoon, and there is very little possibility that Moonshot will cross the price of Safemoon. However, it would be best if you always do your research before investing.