The digital world is expanding at an exponential rate, and this has made it possible for cryptocurrencies to exist as a virtual form of value exchange. Crypto enthusiasts already understand the way crypto works, which allows them to purchase and sell cryptocurrencies to make profits out of them. This article looks at how to sell SafeMoon on Trust Wallet.
However, for cryptocurrency tokens such as SafeMoon, traders can’t make direct purchases and sales out of them. Instead, they will be required to use other alternatives to achieve a means to an end.
How to Sell SafeMoon on Trust Wallet – Introduction
Those who have bought SafeMoon tokens may find it difficult to make a sale of these tokens, as they cannot be sold directly through existing common exchanges. Therefore, it’s important to understand the different ways in which SafeMoon holders can maneuver to sell their tokens and get Fiat currency.
This article aims to guide interested sellers on how to sell SafeMoon on Trust Wallet. While the process may seem challenging, understanding the concepts will make it easier.
The project aims to encourage crypto enthusiasts to make long-term investments and discourage selling, by charging a 10% fee for each sale.
As for the SafeMoon tokens, they have very high volatility; therefore, those taking advantage of them end up securing outstanding profits. It is, however, essential to understand that SafeMoon tokens cannot be sold directly on existing decentralized exchanges; there are alternative methods to complete the action, as explained in this article.
In December 2021, SafeMoon developed a second version of their token, called SafeMoon V2 (SFM). It is an updated version of the SafeMoon contract, and all the holders must migrate their tokens to SFM, or else they will be charged a 100% fee.
Furthermore, SafeMoon released a decentralized exchange called “SafeMoon Swap”, and this is the only space the migration to SFM can take place.
About Trust Wallet
Before learning how to sell SafeMoon on Trust Wallet, let’s find some information about this service. Trust Wallet is a diverse and custodial crypto wallet that currently supports over a million cryptocurrencies. Through their application available on Android and iOS, users can purchase and sell various cryptocurrencies and NFTs. However, NFTs are a different matter as it is challenging to conduct transactions on mobile phones. Notably, like any other wallet, users should be keen with their passphrases, or they may end up permanently losing access to their assets.
How to Sell SafeMoon on Trust Wallet
To sell SafeMoon on Trust Wallet successfully, the seller will be required to create an account on Binance, as SafeMoon runs on the Binance blockchain.
Therefore, through the help of the Binance blockchain, the seller can easily convert Safemoon tokens into Binance coins. To successfully achieve this, a user should follow these steps:
Step 1: Log into a Trust Wallet Account
The first essential step is to log in the Trust Wallet account. Those who do not have an account yet can visit their website and download the Trust Wallet application, where they will then register.
At this point, the registration process is a rather simple one since the Trust Wallet interface is quite user-friendly and requires minimum help. Once the seller has a working Trust Wallet account, they will then be able to access the main page, where they will see a SafeMoon address. Sellers are advised to look keenly at the amount of SafeMoon token they hold in their wallets before proceeding to the next step.
Step 2: Open PancakeSwap in the Wallet
In the second step, the seller should open PancakeSwap in their wallet. However, PancakeSwap is not the only exchange that sellers can use. In addition to this option, they can choose an exchange with which they are more comfortable. However, in this guide, we will be using the PancakeSwap exchange, as it is highly recommended to purchase SafeMoon.
Step 3: Swap SafeMoon Tokens for BNB
While on the PancakeSwap exchange, sellers will be required to click on the Binance symbol and search for SafeMoon through the search bar at the top of their screen.
After that, they will be required to choose the amount of SafeMoon tokens they would like to swap for BNB, and a confirmation prompt will be available. The confirmation screen lets the seller know the transaction fees they will pay on the Binance network. Finally, sellers will click on the aquamarine icon and confirm their swap.
Step 4: Send BNB to Binance
To finish selling SafeMoon tokens, sellers must send all their converted BNB to Binance. Once this is completed, they can proceed to make a withdrawal of their fiat from their crypto wallets directly into their bank accounts. Binance is the recommended exchange since BNB is the native token, and users will have lower fees. Step 6: Convert BNB to Fiat Currency
Users will be required to sell their BNB tokens to end up with USD. Those who may prefer other currencies can go ahead and convert their USD into other supported currencies. Once the conversion is completed, sellers can withdraw their money if they wish to or make another investment.
How to Sell Safemoon Crypto on Trust Wallet without Binance
In this article, we have discussed how to sell SafeMoon on Trust Wallet using Binance. As mentioned above, it is impossible to sell SafeMoon directly, and those who wish to sell their SafeMoon tokens will need to use an exchange that can hold Binance tokens.
Those who wish to sell it without using Binance will need to choose a token that is swappable with SafeMoon. They will also need to choose an exchange that supports both tokens. The above process will be repeated, with the only difference being the swap tokens.
How to Sell SafeMoon on Trust Wallet – Conclusion
Ultimately, SafeMoon crypto holders can now sell their tokens and end up with fiat currency within a few hours. But, of course, all this depends on the number of tokens they wish to exchange and the swap currency they have chosen.
The exchange will handle the rest. The process is simple, but as usual, traders are required to be cautious when dealing with cryptocurrencies to avoid the loss of assets. We hope that helps you understand how to sell SafeMoon on Trust Wallet.