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With the meteoric rise of memecoins, you may want to know how to buy Safemoon in Australia. In this post I will provide a step by step guide on how to buy Safemoon in Australia, with Swyftx and Gate.io. 

The easiest way to buy Safemoon is through using the cryptocurrency exchange Swyftx and Gate.io. Unfortunately, Safemoon isn’t listed on any crypto exchange, which is why you will need to use this method if you want to buy Safemoon.

Some cryptocurrencies, like Safemoon can only be bought on a decentralised crypto exchange via another cryptocurrency. This guide will involve using Gate.io and we will use USDT as the cryptocurrency to swap in order to buy Safemoon. 

Swyftx App
Swyftx App

What is Safemoon (Safemoon)?

Safemoon crypto was a newly created Cryptocurrency in 2021 that sits on the Binance smart chain blockchain. Its name is derived from the slang for “to the moon” which implies almost vertical price increases.  It charges a 10% fee on transactions with 5% being distributed to token holders and the other 5% paid out in BNB across the Binance smart chain to the crypto wallet of the creators of Safemoon.

It gained a significant amount of hype in 2021 and was among many meme cryptocurrency coins to have significant growth However, most meme coins are questioned for having zero real world value and in this case there was concern of a pump and dump from media celebrities.

How to Buy Safemoon In Australia

Buy USDT:

  1. You will need to sign up to a crypto exchange. You can sign up to Swyftx here, or any other exchange of your choice.
  2. Swyftx will require you to pass KYC and account verification.
  3. Once complete, you will be able to fund your account. You can do this via bank transfer, PayID, POLi payment or using a credit card.
  4. Once your account is funded, hit the Buy button and search “USDT”.
  5. From here you can select how much USDT you want to buy, review the order details and then complete the transaction.
  6. You now have USDT in your Swyftx wallet. We now need to send this to your Gate.io account.

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Set Up Gate.io Account

Given Safemoon is an alternative cryptocurrency, buying Safemoon isn’t possible on the largest Australian exchanges. Therefore we need to use Gate.io which is a cryptocurrency exchange that enables you to buy the alternative cryptocurrency.

You will need to set up a Gate.io account, if you don’t already have one. This is definitely the easiest method to use, although the Gate.io user interface can seem intimidating. Follow the steps below for buying Safemoon.

  1. You will need to sign up to a Gate.io account. You can sign up to gate.io here.
  2. It is also a requirement to complete KYC to verify your account.
  3. Once you have verified your account, you can transfer the USDT from Swyftx to your Gate.io account. Make sure you select the correct wallet, if sending from Swyftx it should be ERC-20, but double check this. You can always speak to their helpful customer support team.
    • You will be able to get the wallet address and then send the funds from Swyftx to this address.
  4. Once your account has been funded, you are able to search Safemoon_USDT.
  5. You then select “Buy (USDT-SAFEMOON)”
  6. Follow the instructions to complete your order!
How to Buy Safemoon Australia, Swyftx
Gate.io

Bonus Step – Move Safemoon crypto to a Hardware wallet

For extra security once you buy Safemoon tokens, you could move them to a hardware wallet. A hardware wallet keeps your digital assets extremely safe, and they have extra security features.

Hardware wallets are a great option if you are worried about the security protocols of digital wallets connected to the internet. Wallets such as the Ledger Nano S and Ledger Nano X are cold wallets. They have military grade security and at a very reasonable price are a great way to add an extra layer of security for holding your digital assets or meme coins. This could be something to consider if you buy Safemoon in Australia as a way to protect your investment.

 

FAQ’s

Hopefully you have found this guide helpful so far, and now understand how to buy Safemoon in Australia. I have collated some common questions regarding Safemoon and this process below.

Risks of Buying Safemoon

One of the biggest risks involved trying to buy Safemoon is that it is extremely volatile. This volatility is very common in meme crypto coins. Some people consider Safemoon as a pump and dump scheme, while others believe in the vision.

Nothing in this post is financial advice and it is entirely your decision if you want to buy or not. However, consider that the risk of being rug pulled, or the high fees involved for buying Safemoon may be an issue. Another thing to consider is that Safemoon isn’t listed on a big exchange and often this is because these Safemoon tokens haven’t passed their due diligence checks.

Is Safemoon the Best Crypto to Buy in 2022?

Safemoon, Shiba Inu and Dogecoin all had stratospheric gains in 2021, however that means nothing for 2022. There is no such thing as the Best crypto to buy, as nobody knows what this is or will be.

Safemoon is a meme coin, with an insanely high risk reward ratio. Therefore, Safemoon is highly speculative and not for the faint hearted. Never listen to anyone giving their price predictions of assets. If they really knew they wouldn’t be sharing with you, they would be making a killing with leverage or options trades!

Is Safemoon a good investment?

A good investment will depend on what you want out of it. If you want exposure to an asset with disproportionate upside potential, then it may provide that. However, if you want a secure, stable asset with long term growth potential then this definitely isn’t it. 

Always do your own research, never invest with money you can’t afford to lose and make sure you aren’t trying to get rich quick. Or listening to randoms on the internet with their price predictions! 

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Can you buy SafeMoon on Coinbase?

No, you are not able to buy it on Coinbase. However, you can use Coinbase to buy USDT and then transfer to Gate.io in order to buy Safemoon. Coinbase tends not to accept mem coins on their platform. 

Is SafeMoon on Swyftx?

SafeMoon is a decentralised token, therefore as Swyftx doesn’t provide this functionality it’s not possible to buy it using Swyftx. However, as this guide shows, Swyftx is our platform of choice for buying USDT which we can then exchange to buy Safemoon on Gate.io.

Selling Safemoon

If you want to sell your Safemoon coins, you can use Gate.io and sell them for USDT. From there if you want to cash out your USDT you would transfer back to Swyftx and withdraw to your fiat bank account.

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