Safemoon, a digital cryptocurrency similar to Bitcoin and Ethereum, was launched in March 2021.
It is a digital currency that can only be used online. It was created in a way to encourage long-term investments and discourages selling.
They charge a 10% commission on Safemoon coins that are sold.
Trust Wallet’s success is due to a few factors.
Trust Wallet is a user-friendly mobile app and much more intuitive than other apps.
Secondly, Trust Wallet users have complete control of their funds and can trade NFTs on numerous marketplaces.
This app allows you to send NFTs seamlessly to your family and friends. Trust Wallet doesn’t collect any user data.
Many people are curious about how to sell Safemoon via Trust Wallet. Safemoon can’t be sold directly on Trust Wallet.
Safemoon, a digital currency, is powered by the Binance Smart Chain technology.
For those with Binance accounts, trading Safemoon via Binance would be the best option.
In other words, to sell Safemoon tokens, they must first turn them into Binance coins.
To sell Safemoon on Trust Wallet, there are a few steps
Step 1: Download and install the Trust Wallet app on your phone
iOS users can download the app from the App Store. Android users will have to download the app from Google Play Store.
After it has been downloaded, open the app and click “Create new wallet”. You will then receive a 12-word recovery sentence that can’t be altered or recovered in case you forget it.
This phrase acts as a backup for funds. If it is lost, then all funds are lost.
It is important to ensure that the phrase is not lost or forgotten. You can use the wallet for many cryptocurrencies once it is created.
Step 2: Open Your Safemoon Wallet
You will see the Safemoon address once you have opened the Trust Wallet’s main webpage.
Before proceeding with the next steps, make sure you know how much Safemoon is in your wallet.
Step 3: Open Pancake Swap on the Trust Wallet D App browser
The Trust Wallet app will offer an option called “Browser”. Tap it to select the “Pancake Swap”.
The user can choose to use any exchange they prefer, but Pancake Swap is the best option to buy Safemoon.
Step 4: Swap safemoon currency for BNB Smart chain
Click/tap the BNB symbol under the section “From” and then enter “Safemoon” in the search bar.
After the search is complete, select “Safemoon”. A notice will appear advising about the 10% transaction fees. 5% of this is distributed to token owners, and the remaining 5% is added as liquidity.
Tap on “I understand” to continue.
Next, enter the Safemoon amount you wish to swap. Next, tap the aquamarine icon beside the clock symbol.
Click on “swap” and then click on “Confirm Swap”. The user will then be taken to a page that contains fee-related information about the BNB network.
If you are not having any problems with the fee, hit “Send” to send the transaction. Once it is processed, the status will change over from “pending” to “success.”
It is now much easier to withdraw Safemoon currency by exchanging it for BNB.
Step 5: Convert BNB Smart chain To Binance Chain
Go back to Trust Wallet’s main page after you have converted Safemoon from BNB. You will be able see your Safemoon converted as a BNB Smart Chain.
This Smart Chain must now be converted into Binance Chain or Binance Coin.
To exchange the BNB Smart Chain with Binance Coins touch or click “Smart Chain”, and then hit “more”. Select “Swap Binance Chain” to proceed.
Click anywhere in the “You Pay” area and select 100%. A confirmation page will follow to inform you about the network fees.
Select “Send” to continue.
On the main page, you will now be able see your BNB. You can also exchange it to any external wallet address.
Step 6: Sending BNB to Binance Account
It is crucial to send BNB to your Binance Account in order to sell Safemoon. Without this, you cannot withdraw money from the bank.
Select BNB and then select “Send”. Keep the tab open, as you will need it again.
Go to Binance US and click on “Wallet” to begin the withdrawal process. Select “Deposit” from the menu.
Select BNB as your preferred coin, and then copy-paste your wallet address and BNB memo number back into the Trust Wallet.
The address details will go under “Recipient Address” and the BNB memo # will be pasted underneath where it says “Memo.”
Next, tap on “Max”, and then touch “Next”. This will bring up a confirmation screen where you need to select “Send”.
Once the Safemoon has been sent, you will be able see it in your Binance account as BNB.
Step 7: Buy BNB for a currency such as USD
This is the final step in the process to sell Safemoon via Trust Wallet. Logging in to Binance via their website is required to do this.
Navigate to “Buy Crypto” in your Binance account.
You will see a tab called “Sell” – click on it. Select “BNB” and then click on the “Payment Method” button.
Select “USD” to get US Dollars. Next, tap on “Max”, and then select “Sell BNB”.
This will allow you to sell Safemoon in your preferred currency, such as USD.
Next, you will need to transfer money from your Binance account to your bank account.
Step 8: Withdraw money to a bank account
After you have purchased your BNB in USD or another preferred currency, you can request withdrawal.
You can do this by using Binance’s “Fiat and spot” option. To request a withdrawal, however, you must verify your account.