How to Buy Safemoon Tokens on Trust Wallet: The Complete Step-by-Step Guide

Want to dive into the hyped-up world of Safemoon crypto? This beginner‘s guide will walk you through everything you need to know to purchase Safemoon tokens using the Trust Wallet mobile app. Follow these steps to get your hands on this hot new cryptocurrency.

What Exactly is Safemoon?

Before we get into the buying process, let‘s briefly cover what Safemoon is and why it‘s causing so much buzz in the crypto space.

Safemoon is a decentralized finance (DeFi) token that launched on the Binance Smart Chain blockchain in March 2021. It‘s essentially a meme coin in the spirit of hugely popular tokens like Dogecoin and Shiba Inu.

Unlike other meme coins though, Safemoon introduces some unique tokenomics:

10% transaction tax – Every buy or sell comes with a 10% fee. This helps deter short-term day trading.
Token redistribution – 5% of the tax gets redistributed as rewards to existing Safemoon holders. This means your balance compounds over time.
Liquidity pooling – The other 5% of the tax gets locked away into PancakeSwap‘s liquidity pool. This gives Safemoon a higher price floor.

These mechanics incentivize investors to buy and hold onto their Safemoon long-term rather than constantly trading it.

In just a few short months since launch, Safemoon has:

Attracted over 2.5 million holders
Reached a peak market cap of $6 billion in May 2021
Increased in value over 1700% at its highest point

However, like most speculative crypto assets, Safemoon has seen plenty of volatility too. Since that market cap peak of $6 billion, Safemoon‘s value has dropped around 90% as the hype has cooled off.

Still, its fervent community remains passionate about the project‘s potential. Let‘s look at how to purchase Safemoon for yourself using Trust Wallet.

Why Use Trust Wallet to Buy and Store Safemoon?

Trust Wallet is a popular mobile crypto wallet app with support for a wide range of blockchain networks, including Binance Smart Chain where Safemoon lives. It was acquired by Binance in 2018 but remains an independent non-custodial wallet.

Some key benefits of using Trust Wallet include:

Easy and intuitive mobile interface
Built-in support for Binance Smart Chain and BEP-20 tokens like Safemoon
DApp browser to access decentralized exchanges like PancakeSwap directly in-app
Control over your own private keys – you retain full ownership of your coins
Enhanced security with password protection, 2FA, and other measures
Backed by Binance but non-custodial – you‘re in charge of your assets

By using Trust Wallet to purchase and hold Safemoon, you get the convenience of an on-the-go mobile crypto wallet with the functionality to interact directly with Binance Smart Chain DeFi apps.

Step 1: Download and Set Up the Trust Wallet App

First, you‘ll need to download the Trust Wallet app to your iOS or Android mobile device. You can find it in the Apple App Store or Google Play Store.

Once downloaded, Trust Wallet will guide you through the initial wallet creation process. This involves:

Agreeing to Trust Wallet‘s Terms of Service
Creating a strong password
Recording a 12 or 24-word "secret recovery phrase" and storing it securely
Verifying your recovery phrase to ensure it is saved correctly

This recovery phrase acts as a backup to restore your wallet in case you ever lose access. Keep it private and safe – anyone with this phrase can steal your crypto assets.

After securing your recovery phrase, your new Trust Wallet is ready to use!

Set Up Extra Security Precautions

To further lock down your wallet, it‘s highly recommended you enable some extra security features Trust Wallet offers:

Passcode lock – In your wallet settings, you can set a numeric passcode to open your Trust Wallet app. This adds an additional layer of security on top of your recovery phrase.
2FA authentication – Also in settings, you can enable two-factor authentication via an authenticator app or SMS text messaging. This requires you to enter a rotating numeric code from your authenticator app whenever you log in.

Enabling these security features helps protect your Safemoon and other crypto assets in case your phone is ever lost or stolen.

Step 2: Fund Your Trust Wallet with BNB

Safemoon tokens are built on Binance Smart Chain. To trade for them, you first need BNB – the native cryptocurrency of Binance Smart Chain.

You have a couple options for getting BNB into your wallet:

Purchase directly in Trust Wallet – This is the easiest method. In-app you can buy BNB directly with a debit/credit card. There is a transaction fee of around 5%.
Send from a centralized exchange – BNB can be purchased on exchanges like Binance, Crypto.com, or KuCoin. You can then withdraw your BNB to the Binance Smart Chain address your Trust Wallet provides.

Only get the amount of BNB you need for converting to Safemoon later. I suggest between $50-$100 worth to start. The process for swapping your BNB is next.

Step 3: Convert BNB to Smart Chain BNB

When transacting on Binance Smart Chain, you specifically need BNB converted to Smart Chain BNB (also called BEP-20 BNB). So we need to convert from regular BNB.

Inside your Trust Wallet:

Tap the apps icon in the bottom right.
Search for and select "Smart Chain" from the list of apps.
Tap "Connect".
You‘ll see your BNB balance near the top. Tap "Swap to Smart Chain".
Confirm the proposed swap.

This takes just a few seconds with very minimal fees. Now your BNB is ready to trade on Binance Smart Chain.

Step 4: Access PancakeSwap Exchange in Trust Wallet

PancakeSwap is a popular decentralized exchange built on Binance Smart Chain. We need to connect Trust Wallet to PancakeSwap to conduct the BNB/Safemoon swap:

In Trust Wallet, tap the apps icon and search for "PancakeSwap."
Tap "Connect" to link PancakeSwap with your Trust Wallet.
In your mobile browser, head to PancakeSwap.finance.
Tap "Connect" in the top right and select Trust Wallet.

Once connected, you‘ll see your BNB balance on PancakeSwap automatically.

PancakeSwap uses an automated market maker (AMM) model where users can pool their crypto assets in liquidity pools to earn trading fees.

We‘re ready to complete the BNB/Safemoon swap!

Step 5: Swap BNB for Safemoon

The exciting final step – converting our BNB to hot new Safemoon tokens!

On PancakeSwap‘s Exchange page:

Under "Exchange" tap the input currency and search for Safemoon using this contract address:

0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3
Enter the amount of BNB you want to swap over. You can tap "Max" to exchange your whole balance.
Due to the 10% tax, set slippage to at least 12% using the gear icon. This ensures the transaction goes through.
Tap "Swap" and confirm in your Trust Wallet app.
Wait a few minutes for the swap to fully process. Then check your Trust Wallet balance – your new Safemoon coins should be there!

Remember that every Safemoon transaction comes with a 10% tax. Try to avoid constantly swapping or transferring your tokens when possible.

Now that you have Safemoon in your Trust Wallet, you‘ve completed the process and can officially call yourself a "Mooner"!

Storing Safemoon Safely

The crypto markets are highly volatile, so never invest more than you can afford to lose. But if you do acquire a Safemoon position, you‘ll want to keep those tokens secure for the long haul.

In addition to setting a wallet password and enabling 2FA in Trust Wallet, here are some other tips for storing your coins safely:

Write down your recovery phrase somewhere secure like on paper or metal. Never digitally store it.
Consider getting a hardware wallet like Ledger or Trezor for very large holdings. Your recovery phrase will allow you to restore your Trust Wallet assets onto supported hardware wallets for maximum security.
Avoid connecting your Trust Wallet to suspicious third-party websites or sharing your wallet address publicly.
Enable transaction signing in your wallet settings for an extra layer of protection.

As long as you take reasonable precautions, Trust Wallet is a very solid choice for safely managing DeFi tokens like Safemoon.

Ready for Liftoff!

That covers everything you need to know to get set up with Trust Wallet and purchase hot new Safemoon crypto. These steps allow you to safely buy, store, and track your Safemoon holdings right from your mobile device.

What are you waiting for? Get in on the next big crypto craze and join the legions of Safemoon believers. Just be sure to do your own research and never invest more than you can responsibly afford to lose in speculative assets.

Blast off to the moon – but stick the landing by using Trust Wallet and following sensible crypto security practices. To the moon and beyond!