Why SafeMoon was Such a Hit When it Launched in 2021
Cryptocurrency is without a doubt one of the most confusing industries in the world. If you are new to the concept, it can sound like someone is scamming you. One of the most confusing aspects of crypto, though, is the presence of so many different options. Whenever a new crypto option arrives on the scene, it is pretty fair to think ‘what now?’ – yet one crypto that launched in 2021, SafeMoon, garnered a lot of attention.
It shot out the block, and many started buying into it when the traditional cryptocurrency of choice, BitCoin, was becoming too expensive for people to get involved with. SafeMoon only came to be in March 2021, so it is still a relative baby within a very competitive field.
It is like the rest of the cryptocurrencies out there, albeit with some minor differences. The main difference is that long-term holders of the currency are rewarded for sticking around with a 10% fee on each sale. This fee is then divided up with existing SafeMoon owners and is then paid out in a dividend to anyone who owns the coin. This fee is also very high for crypto, though, so people are less likely to sell in the first place.
Is SafeMoon still growing?
Its value has grown massive since it first came on the scene, and its inexpensive nature of it as well as its interesting sales style means that it managed to enjoy a rapid and successful launch. While SafeMoon is very much more on the Dogecoin side of things – a smaller-priced, relatively simple take on the cryptocurrency scheme – it is also more likely to avoid the cut-and-thrust explosions in price that can impact other cryptocurrencies.
Like most of these products, little is known about the founders and the method and idea behind it. What we do know, though, is that the CEO is John Karony, who used to be part of the U.S. Department of Defence. There are natural criticisms and skepticism about the longevity of SafeMoon, but it did enjoy a rapid and satisfying launch thanks to low pricing paired with interesting incentives.
Where will SafeMoon be in 2022 and beyond? Who knows. What we do know, though, is that 2021 was a very successful time for that particular cryptocurrency.