The present scenarios in finance give clear indications of growth in terms of cryptocurrencies and blockchain amidst that if you have ever heard of SafeMoon token then you must have wondered about how to buy SafeMoon in Australia, if the answer to this question is a yes, then this SafeMoon buying guide in Australia is going to be the perfect fit for you.
SafeMoon is one of the newer cryptocurrencies in the market and was released in March 2021. The term SafeMoon comes from the idea of going safe to the moon which means safely rising the prices of the coin to new heights.
Being termed a meme coin by many market experts, SafeMoon has been able to hit a drastic increase in its value that also includes going 12 times its value in a single week of April 2021.
In this article, we will dive deeper into the various aspects of this crypto and analyze the risks and benefits of buying SafeMoon.
How To Buy SafeMoon in Australia – Quick Guide
Buying SafeMoon token in Australia is not as simple as it is buying other cryptos from traditional marketplaces. To ensure that the right and legal process is used in buying SafeMoon in Australia we are providing a step-by-step guide to you on how to do it.
◾ Create a CoinSpot account by registering yourself on its official website
◾ Once the registration is done you can login into the account
◾ Add AUD funds to your CoinSpot wallet by going to the deposit page
◾ After adding funds you need to buy Tether, Bitcoin, or Ethereum
◾ Add the selected coins to your wallet
◾ Visit Gate.io and create an account
◾ Now export your Bitcoin, Ether, or Tether to your Gate.io wallet
◾ Once the export is completed you can buy SafeMoon token from the Gate.io using these assets
◾ Swap them with SafeMoon crypto
Buy Tether On CoinSpot
CoinSpot is one of the leading crypto exchanges in Australia and fairly popular among Australians due to the native AUD fiat support. Apart from Australia CoinSpot is being used across the world due to its wide range of crypto support, different methods of payments, and low trading fee
CoinSpot accounts for the majority of the trading volume in Australia due to its user-friendly interface and different crypto tools which are available for its users at no additional cost.
The state-of-the-art security protocols and one of the finest customer care services in the market make CoinSpot a reliable choice amongst the customers.
If you are planning to buy Ether, bitcoin, or Tether from CoinSpot in Australia then the process is relatively simple. You can follow the steps mentioned below to buy your preferred coin.
- Register your account on CoinSpot’s official website
- Verify you Account
- Add funds from AUD
- Buy Tether, Bitcoin, or Ether
The detailed steps are mentioned below.
Register Your Account With CoinSpot
Registering your account in CoinSpot ensures that you will be allowed to trade over that platform and store your asset in its online wallet. CoinSpot account registration is easy and can be completed within a minute
To register your account on CoinSpot you need to visit its official website. Once on the website click on the ‘Sign-Up’ button. Now fill in your personal and contact information along with creating a password. Once that is done you will be registered with the CoinSpot exchange.
Verify Your Account
After creating your account you need to verify your identity to the exchange by providing proof of identity and get verified. The process may take some time but most probably it would not take more than a few hours for verification.
Fund Your CoinSpot Wallet By AUD
After creating your account, you can add funds to your wallet in AUD by using a Bank transfer,
BPAY, Cryptocurrency, POLi, and PayID as all of these methods are supported by the CoinSpot wallet.
Buy Tether (USDT)
In this guide, we are choosing to buy Tether but you can choose any other coin as well. For buying Tether you will have to search for Tether over CoinSpot and then select ‘Buy Now. Once that is done enter the amount you want to buy and complete the transaction.
Buy SafeMoon On Gate.io
Being in the market since the rise of cryptocurrency and blockchain in the world, Gate.io is one of the oldest exchanges in the market that is still operating. While supporting over 180 crypto coins in the market Gate.io is one of the leading marketplaces that deals in the SafeMoon token and be used to buy SafeMoon in Australia.
It comes with native mobile application support along with advanced trading features such as margin trading. Lower transaction fees make it one of the finest exchanges to buy SafeMoon in Australia.
You can follow the steps mentioned down below to buy SafeMoon from Gate.io
- Create an account on Gate.io
- Transfer your assets to the Gate.io wallet
- Buy SafeMoon on Gate.io using Tether
In the article ahead we are explaining these steps in brief.
Create An Account On Gate.io
You need to visit the official website of Gate.io to ensure that you are registered with the trading exchange. If you already have an account on Gate.io then you can log in directly but if you are using it for the first time then you need to sign up and enter all the information required to create the account. Once the account is created you can verify your account and move toward the next step.
Transfer Your Assets To The Gate.io Wallet
Once an account has been created you need to transfer your assets from CoinSpot to Gate.io to ensure that you have the required assets while going for the purchase of the SafeMoon token. Once the transaction is completed you can proceed to the next step.
Buy SafeMoon On Gate.io Using Tether
Now is the time to buy SafeMoon coin using Tether. You have to search for SafeMoon on Gate.io crypto exchange and then click on Buy Now.
Once done, you will need to enter the number of SafeMoon that you want to swap with your present Tether. After which your transaction will be completed and your SafeMoon will be added to your portfolio.
Congratulations! You have learned to buy SafeMoon in Australia.
Benefits Of Buying SafeMoon
There could be many pros and cons of a coin and in this segment, we are going to discuss the benefits of buying SafeMoon. Benefits of buying SafeMoon include its popularity as a meme coin and its probability to rise drastically as it has risen in the past.
Another benefit of the SafeMoon token could be its ability to be staked and offering of interest to the beholders. And last but not the least benefit of buying SafeMoon token is that it is famous amongst celebrities and this could be a reason for its mooning.
Risks Of Buying SafeMoon
Just as there are benefits of SafeMoon there are some downsides to it as well. SafeMoon is not a serious token that is made for long-term investment or any actual use cases. It does not have a practical utility as of now and that is one of the biggest risks involved in the process of investing in SafeMoon coin.
Low liquidity and centralized mode of operations are some other major risks that are involved in SafeMoon.
Best Wallet To Keep Your SafeMoon Tokens
Now when you have SafeMoon coins in your Gate.io exchange it’s time to transfer them to another safe wallet. Even though there are many wallets available in the market we are going to discuss the market leader in a hardware wallet.
Ledger Nano X
Ledger Nano X is an undisputed leader in hardware wallet solutions due to the security that it provides to the private keys of its users. The connectivity options that include Bluetooth for both mobile and PC make it one of the easiest-to-use hardware wallets on the market.
The reasons for its popularity also include its portability and solid metal finish. Hence, if you are someone who is investing seriously in SafeMoon in Australia then Ledger Nano X could be the perfect choice for you.
How To Buy SafeMoon In Australia: Conclusion
After reading so much about SafeMoon token and how it can be purchased from different platforms you must be roaring to start with investment in the coin and that is why we added the benefits and risks section at the bottom of the article to make you think before you start investing.
SafeMoon is a nice to have an asset that does not cost a fortune and can actually face mooning at some phase of its lifespan thus you can invest some amount in it. We hope that this How to buy SafeMoon in Australia guide will help you in buying SafeMoon coin safely.