If you invested $100 in SafeMoon just about a month ago it would now be worth $8 million. I missed that window by like 2 weeks!
SafeMoon is the crypto-coin that launched a thousand coins — and a few scams too! If you hadn’t noticed, the crypto-coin market has gone mainstream. If you’re somewhere between the ages of 18 and 40 you can probably syphon through all the Discord and Telegram chats to figure out how and buy these crypto coins without shelling out $60K for a pretty Bitcoin over an established exchange— welcome to the alt-coin market.
The process isn’t for the faint of heart:
- Download and install Trust Wallet
- Buy BNB
- Convert that BNB to smart chain BNB
- Uncover the hidden Dapp browser feature in Trust Wallet
- Find Pancake Swap
- Find the address of your new favorite coin. Research it on half-a-dozen websites (or take the risk!)
- Paste in that address and make the purchase (trade) on PancakeSwap with your newly converted SmartChain BNB for a certain amount of shares
- GET OUT QUICK IF IT’S GOING DOWN!
(Connor Kenny has a good overview here)
Alt-coins are fair play for anyone looking to get into crypto-currency or even create your own coin. All it takes is a crypto contract and a few accounts on some trading websites. It is truly the Wild West out there and the scammers are in full force.
The fanfare all started with the launch of SafeMoon, the first prominent alt-coin using a relatively new technique in crypto-currency. Most traditional crypto-currency (like Bitcoin) rely on strong algorithms which reward people for “mining” bitcoins — using highly sophisticated computer programs and computing power to solve problems along a LONG chain of connected “tokens” or “coins.” The idea is to create a currency which has limited inflationary traits because there are only so many coins in the entire universe (about 20 million for Bitcoin).
SafeMoon took a different approach. Instead of using math and mining to find the coins why not start with a MASSIVE amount of tokens which…