8 Reasons SAFEMOON is a great educational cryptocurrency
Sure SAFEMOON is very controversial and the mere mention of it amongst "elitist crypto" groups makes them frown on you from their pedestals. But SAFEMOON has many elements that make it a great token (future coin) to learn from.
Here are some reasons:
1) Large enough community to understand the social aspects of cryptocurrency. Every major cryptocurrency has it's own "Army." It's undeniable that huge communities are built around crypto, and SAFEMOON seems to have a solid community across all social media platforms.
2) Burn economics. Even amongst the largest Cryptocurrency, burn isn't clearly touted as a big "selling point." But SAFEMOON community seems to spend a lot of time describing this vital piece of learning about cryptocurrency. Everyone wants the next Bitcoin sped up by 10 years and is only focused on "when will $ reach $1?" The economics tend to be very simple to understand in those cases: price up, good, price down, uh oh.
But burn is a vital piece of even real life fiscal policy as described in the film "Den of Thieves." Getting involved in a cryptocurrency beyond "price up, price down, sell, buy, money, yay" develops a better understanding of what the future of cryptocurrency holds. Which leads into point 3.
3) Reflections. Most other platforms rely on staking and tying your cash up. But the fact remains, the most powerful natural law that affects money is the power of compounding. Whether you decide to trade, sell, pump and dump, or what have you, few other tokens provide this opportunity to learn about it without tying up your cash via long-term staking.
4) Early-Stage Token. Although this point won't last forever (and perhaps the other ones too) it's good to be early!
5) Great marketing. Maybe too good. There has been FUD spread around product launches and things like that. Some true. Some totally false. Some just bogus attempts at getting attention from the community. But depending on how high quality future developments of SAFEMOON are, it will be interesting to see the intersection between how great marketing can affect future coins or tokens.
I'm sure some of us have been involved with projects that have almost no marketing and it's just a stagnating project. It's annoying because you barely know what's going on. There's a huge social element to Cryptocurrency and this is worth looking at. Which leads to the next point.
5A) Also tied to marketing: constant communication through community or founders about future products. There are hundreds of cryptocurrency who have just a few pieces of information online promoting future use cases. That's terrible, especially if you want hundreds or thousands of people to be involved. But with a cryptocurrency that has hundreds or thousands of new followers coming in, there needs to be a high level of these updates since newSAFEMOONER'S (or people investing in any other cryptocurrency) can't be expected to know where to search.
6) Founder/creator transparency. Some people have criticized the founders of SAFEMOON for enjoying their lives and spending their money and being concerned of rug pulls. That's a totally valid concern, and some might even suggest they are PR stunts. But possibly far better to have them be open to this criticism than by keeping their interests in the dark.
7) Get reflections during whale dumps and understand their impact. Pump and dumps by influencers significantly affect prices across many cryptocurrency. Unfortunately for most newbies and unsuspecting people, pump and dumps typically betray most beginners leaving them with a bag of potentially useless cryptocurrency. Or if the cryptocurrency is a great one, beginners may continue to get dumped on if they can't follow the markets 24/7 like some of the most advanced traders. But at least in the case of SAFEMOON, and no cryptocurrency is immune to influencers pumping and dumping, beginners can benefit from these whales all while examining all of the things above.
8) Does the average cryptocurrency newbie understand these terms or ideas? Transfer cryptocurrency between wallets, ERC, BSC, metamask, swaps, token vs coin, DEX, gas prices, and more... Probably not. These terms can sound intimidating and foreign especially once you start understanding fees. Some people simply want to use an app to trade cryptocurrency for cash.
That's great and all, but it's harder to have a good outcome trying to predict near-term price movements of day to day crypto-trading than it is to go on somewhere like CoinMarketCap https://coinmarketcap.com/currencies/safemoon/ and do some research of currently underpriced, under-the-radar, microcap (albeit highly speculative) tokens that you can get involved in.
But in order to get involved in those, you need to understand the bigger ecosystem of Cryptocurrency beyond trading a few of the top coins for cash. And SAFEMOON requires you, at present, to do that since you need to use swaps and other technology to acquire it. Very simple, yet not as obvious as trying to buy and sell your BTC or ETH to riches.
Disclaimer: At the time of reading this post, the author may or may not have a significant stake in the cryptocurrency mentioned. Due to the evolving nature of Cryptocurrency, situations in this article might change by the time you read this. SAFEMOON specifically is also highly speculative in nature. This is meant as general knowledge and not to be construed as financial advice. The author is not responsible for any losses you may accrue.