Editor’s note
The information on this page should not be used as investment advice. Tom’s Guide can not tell you whether you should invest in a particular cryptocurrency, or in the market as a whole. Crypto prices can go down as well as up and you could get back less than you put in.
SafeMoon is one of the newest and fastest-growing cryptocurrencies, even in a market that’s recently seen Bitcoin and Ethereum reach record-high values and even the tongue-in cheek Dogecoin growing by over 11,000%.
Even so, SafeMoon is a most unusual digital currency, as it imposes a penalty on anyone who tries to trade their coins (or “tokens”). Only a few weeks old, its sheer newness also might lead some potential crypto buyers to see it as an unknown quantity.
That said, it’s been attracting a fair bit of attention of late, so it’s possible that you’ve landed on this page with the intention of investing in it. If that’s the case, then tread carefully.
Cryptocurrencies can make for risky investments, due to the inherent volatility in the market. They’re not like most traditional stocks, where gains — and falls — tend to be incremental; fortunes have been wiped out overnight. Never invest more than you can afford to lose and do your research first.
It’s also possible that you just want to find out more about what SafeMoon actually is — in which case, read on for our full guide.
What is SafeMoon?
SafeMoon is an altcoin: a blockchain-based digital currency broadly similar to Bitcoin,…
