SafeMoon is among the first cryptocurrencies on Binance Smart Chain (BSC) to gain mainstream attention. This has been largely due to social media platforms, particularly Twitter and TikTok.
To buy Safemoon go to Pancakeswap, and follow this step-by-step guide.
Step 1: Get the Metamask browser extension and create an account.
Let’s start by downloading Metamask, a Chrome extension that allows you to use Ethereum dApps and Binance Smart Chain Blockchain. It’s free and can be downloaded from the official website—just click here!
Once installed, open up your browser and click on the Metamask icon in your toolbar. This will open a small window where you can add an account. You will need to provide a password, but don’t forget to save your backup phrase—you’ll need this later when trading Safemoon.
In order to connect your wallet with Binance Smart Chain Network, select “Custom RFP” from the drop-down menu in the upper right hand corner of the screen. Then provide the following information:
Network name: Binance Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer: https://bscscan.com
Once you have set up Binance Smart Chain, the company says you can send your BNB tokens to it.
Step 2: Buy some BNB for your wallet on Binance.
If you’ve never bought cryptocurrency before, you’ll want to start with a small amount of money. You don’t need a lot of money in order to get started with cryptocurrencies and cryptos (that’s what people who use blockchain technology call themselves). In fact, people often say that it’s best to start small so that if something goes wrong, you won’t be out too much money. This is especially important if this is the first time buying cryptocurrency as an investment strategy or if you are new at trading in general. We recommend starting with $50-$100 USD worth of BNB coins and then slowly adding more over time when the price goes down again later on down the road so make sure not miss out on any potential profits by investing too early!
Step 3: Go to Pancakeswap and connect your Metamask wallet.
Once you’re on the Pancakeswap website, go to the top right hand corner and click on “Metamask”. This will prompt you to open up your Metamask wallet in a new window. You will then be presented with the option to import a private key from another cryptocurrency wallet or create one for yourself:
- If you already have a private key for a cryptocurrency on another exchange, then enter that into the box provided and click “Connect Account”.
- If not, click “Create New Account” and follow through with the steps required (which are pretty straightforward).
- Choose BSC Network (Binance Smart Chain)
Once connected, you will see that all of your BNB balance has been loaded onto Pancakeswap.
Step 4: Choose the currency you want to buy Safemoon with.
Choose the currency you want to buy Safemoon with. You can buy Safemoon with the BNB sent to your Metamask wallet from your Binance Account.
To exchange your Binance coin for safemoon, select “BNB” in the currency dropdown box. Once you have done so, scroll down until you find the amount of BNB coins you wish to trade with or click “Max.” In the search bar type Safemoon, making sure Safemoon appears in the “to” box.
Step 5: Choose your slippage tolerance.
The final step is choosing a slippage tolerance. This number represents the difference between the price you want to buy at, and the price that actually gets filled. If you choose 5%, for example, then your order will only be filled if Safemoon is trading within $0.05 below or above your target price.
If you’re willing to pay a higher price than this threshold (which means it may take longer for your order to be filled), then select a smaller number like 1%. This way, when your order does fill, it should happen faster than with a larger slippage tolerance.
Once you have chosen your slippage tolerance, click “Swap.” You will have to wait 10-20 minutes for the network to verify the transaction—and then your new SafeMoon should appear in your MetaMask wallet!
Step-by-Step Guide Summary
In short, the first step is to use the Metamask extension and create an account.
Once you’ve linked your Metamask Wallet to the Binance Smart Chain network, you’ll be able to purchase tokens on Pancakeswap without any hassle.
The next step is pretty straightforward: buying some BNB from Binance so that you can send it off to your Metamask Wallet.
After receiving your coins in your Metamask, head over to Pancakeswap where you’ll “swap” your BNB for Safemoon tokens.