What is the SafeMoon Trust Wallet? How Can I Sell SafeMoon?
How To Sell Safemoon on Trust Wallet If this is what you are searching for then you came to the right page as this article has all of your answers. Let’s start without any further delay!
As an asset class,is highly volatile, and meme coins like Safemoon login are no exception. In this article, you will find out How to Sell Safemoon on Trust Wallet.
However, I want to make it clear that this is not investment advice, but rather an information on how to sell Safemoon.
Table of Contents
Safemoon is also a digital currency on the Ethereum, and others. Originally released in March 2021, it became a meme coin after it got hyped by memes, hence the term ‘Meme Coin’ used to describe Safemoon.
Bitcoin and other cryptocurrencies use the same blockchain as Safemoon. Safemoon was designed for long-term investing, therefore the founder doesn’t want its investors to sell it at an early stage.
Due to this, Safemoon coin sellers collect a 10% fee on the sale of the coin, of which 5% goes to the current holder and the rest to the liquidity pool.
In order to discourage sellers from selling their coins, this fee was implemented. Because the coin was hyped up because of Memes, many people invested in it without knowing this fee existed.
As many popular exchanges don’t list Safemoon coins, it is difficult to sell Safemoon app and convert it into fiat.
For example, if you wish to liquidate your Safemoon coin into USD or any other fiat currency, you would need to swap it for another coin first. can be easily swapped for BNB or Binance Coin, as they are easy to cash out.
Although you may choose any other coin you want, we will use Binance Coin in this tutorial as an example.
First, you need to exchange your Safemoon currency for another Pancake Swap is one way to do that.
Step 1) You need to first link your corresponding Pancake Swap to your appropriate Trust Wallet.
Step 2) You should have your Safemoon coin stored in your Trust Wallet.
Step 3) Copy your token and paste it onto the Contract Address after connecting your Trust Wallet.
Step 4) You can obtain Contract Address (Token No) on Trust Wallet by opening Trust Wallet, going to View Market Cap, scrolling down, and finding the link here.
Step 5) Your desired amount of coins can be selected.
Step 6) You can now trade it for another digital currency, such as Bitcoin.
Step 7) Choosing the slippage tolerance is necessary here. It is up to you to select.
Step 8) Click on Swap, and then click Confirm.
Step 9) To proceed, tap on I Understand, then Continue, if you do not have a problem with the 10% fees for Safemoon.
After you swap the Safemoon coin with another popular coin, like BNB, withdrawing it is much simpler.
You need to close all active positions when selling a coin in the order you wish to swap it, if you are unable to swap it, the reason might be that you hold any position in the asset.