Once your swap is completed, the status should go from “Pending” to “Succeeded” and your wallet will be credited with the correct amount of BNB coins. Tap on “Max” to swap the maximum available SafeMoon tokens in your wallet then click on “Swap“. After installing Trust Wallet, you will need to set up your wallet and complete the verification process. This involves creating a wallet passphrase, backing up your recovery phrase, and securing your wallet with a PIN or biometric authentication. When you are in Pancake Swap, you will need to click on the BNB (Binance Coin) Symbol.
Monitor the prices, liquidity, and trading volumes of tokens to make informed decisions. It’s important to carefully consider the trading pair you choose, as it determines the currency or cryptocurrency you will receive in exchange for your Safemoon tokens. Take note of the current prices and liquidity of the trading pair to make an informed decision. Safemoon is an innovative and community-driven cryptocurrency that aims to revolutionize the way we transact and invest. It has gained popularity due to its unique features, such as its automatic liquidity pool, reflection mechanism, and token burn events. As with any investment, there may come a time when you want to sell your Safemoon tokens and cash out your profits.
- By now, you’ll have successfully converted Binance Coin (BNB) to United States Dollars.
- The Safemoon crypto continues to gain recognition as a reputable cryptocurrency for trading.
- In this article, we have discussed how to sell SafeMoon on Trust Wallet using Binance.
- After installing Trust Wallet, you will need to set up your wallet and complete the verification process.
- By having these requirements in place, you’ll be ready to embark on the journey of selling your Safemoon tokens on Trust Wallet.
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An article by SafeMoon’s blog has previously suggested that they plan to deploy a non-fungible tokens (NFT) exchange, several crypto-education applications, and charity projects. Trust Wallet provides a secure and user-friendly platform to manage your digital assets and engage in decentralized trading. Remember to keep your wallet secure by using strong passwords, enabling two-factor authentication, and keeping your recovery phrase in a safe place. To transfer your cryptocurrency from Trust Wallet to Coinbase, you must first copy the asset’s address from Coinbase. Begin by opening the Coinbase app and selecting “Receive” to obtain the address. You can now view your BNB coins on the main page of the Trust Wallet App and exchange them with an external crypto wallet address if desired.
Step 4: Convert BNB to a Stable Coin/Fiat Currency
Now you will have converted Safemoon into BNB and it will be on the Binance Smart Chain. Hence, you will need to get to the main menu of Trust Wallet and select BNB. Then finish the operation and click on confirm page to proceed to the next step. It is, however, important to keep in mind that it is not possible to directly sell Safemoon on a decentralized exchange, including Trust Wallet.
What Are NFTs? Non-Fungible Tokens Explained
The ability to quickly convert a digital currency or token into another asset or cash without affecting its price. In cryptocurrency, market cap is determined by multiplying the current price of a token by its total circulating supply. SafeMoon is an asset on the Binance Smart Chain Blockchain and the currency used on this chain is the BNB for Binance Smart Chain (bep20). Once the notice is closed, you will have to choose the token you want to swap to. For this guide, we will be swapping to BNB because it’s just easier to do it this way.
Ultimately, SafeMoon crypto holders can now sell their tokens and end up with fiat currency within a few hours. But, of course, all this depends on the number of tokens they wish to exchange and the swap currency they have chosen. The next step to selling SafeMoon with Trust Wallet involves accessing the SafeMoon Wallet.
- The next step is in case you are new to Binance Exchange and would want a helping hand.
- From there, choose “Swap to Binance Chain,” insert the amount and proceed with the transaction.
- Blockchain provides an innovative way to transfer information automatically and securely.
- The process is simple, but as usual, traders are required to be cautious when dealing with cryptocurrencies to avoid the loss of assets.
- Then you may think about converting that to any other currency of your preference.
This allows you to trade your Safemoon tokens for other cryptocurrencies or fiat currencies, depending on the available trading pairs. It’s important to note that adding a token to your Trust Wallet does not involve any transaction fees. However, conducting transactions with the Safemoon token, such as buying or selling, may incur network fees depending on the current network congestion and gas prices. Before we proceed with the step-by-step guide, it’s important to note that cryptocurrency investments carry risks, and market conditions can change rapidly. It’s crucial to do your own research, consult with financial advisors, and make informed decisions based on your risk tolerance and investment goals. To proceed with selling Safemoon, you should make sure to send all converted BNB to Binance.
Attempt to convert Smart Chain to BNB Binance Chain
If you don’t have the Trust Wallet App on your smartphone, please go ahead and download it here. If you already have the app on your smartphone, follow the steps below to swap SafeMoon on Trust Wallet. Cryptocurrencies are slowly but steadily proving their worth in the global market. However, how to buy, save, and sell cryptocurrencies is still a big issue that needs patience and attention. Armed with this knowledge, if you remain convinced that SafeMoon aligns with your investment strategy, there are cryptocurrency exchanges where you can acquire SafeMoon. For Capital.com, the price could trade at $0.0007 by the start of next year and hit $0.0008 by the end of 2025.
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Presently, the blockchain and its token command a $3.5 million market capitalization. According to the official SafeMoon website, the protocol charges a 10% fee on each transaction. 5% of the fee goes to redistribution across the token holders and the remaining half converts to Binance Coin.
Inherently and by design, one cannot sell their SafeMoon tokens because selling comes with a hefty fee. However, there are different ways for someone to sell their SafeMoon with less fees and securely. In this article, we are going to look at a few of these methods for selling SafeMoon.
How to Cash out SafeMoon: SafeMoon Price History
Additionally, this process is also viable for anyone who wants to trade SafeMoon on a top-tier exchange. SafeMoon traders need a Trust Wallet and a Binance Account so that they can exchange their SafeMoon holdings for other cryptocurrencies. You have successfully learned how to sell your Safemoon tokens using Trust Wallet.
The Safemoon token withdrawal process does not have to cause you sleepless nights on how to get your money. Following the summarized steps below ensures you get your money in your bank account or credit card with just a few taps on your phone. You can withdraw the BNB by converting them to USD and directly withdrawing the funds to your bank account.
This will ensure that the token appears in your wallet and that you can transact normally. However, this step is not necessary if you already have the SafeMoon in your Trust Wallet. If you have your tokens on Binance, send them to the Trust Wallet and move to the next step.