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Started By
Message
re: Safemoon crypto currency up 4783% in a month
Posted on 4/20/21 at 10:11 am to PhifeDogg
Posted on 4/20/21 at 10:11 am to PhifeDogg
quote:
You can't deposit USD directly to Kucoin. Kucoin doesn't have an option to deposit dollars from your bank account to trade crypto, so you have to enter through Coinbase or one of the others.
Did this change recently? When I signed up a couple months ago I'm pretty sure I deposited money from my bank account.
0
Posted on 4/20/21 at 10:11 am to lsu777
Still trying to grasp how Safemoon works since you have to buy other tokens and convert them into Safemoon? Once you make your profits and want to sell, you have to convert back to another token? Does this mean you have to carefully examine the value of Safemoon AND whatever currency/token you convert when buying and selling?
Yes, I’m dumb.
Yes, I’m dumb.
Posted on 4/20/21 at 10:20 am to Shameless
Depends on how quickly you convert. The price of BnB coin doesn't matter if you quickly convert it to safemoon. And vice-versa, when you want to sell, you can convert it to a stable coin like tether,which is always $1.00
Posted on 4/20/21 at 10:43 am to 22jctiger22
quote:
slippage was successful for you? I keep getting error when trying to swap BNB Smart Chain for Safe Moon. I've increased slippage to as high as 16 and continuously receive "Insufficient_Output_Amount" or "Insufficient Liquidity" errors
I read 12 but had to bumped it up to 14. Went right through and barely noticed
Posted on 4/20/21 at 10:44 am to Stagliano
12% slippage worked for me.
Posted on 4/20/21 at 10:50 am to MileHighDraw
I just broke 100% after buying last night around 11pm. And that was after a massive dip several hours
This looks great on my phone at least
This looks great on my phone at least
Posted on 4/20/21 at 11:00 am to Stagliano
bnb to trust wallet? how long does it take to show up? yes I know there are directions on the first page but just wanted to hear a real life example 
Posted on 4/20/21 at 11:03 am to zzgobucky
quote:This is correct.
Depends on how quickly you convert. The price of BnB coin doesn't matter if you quickly convert it to safemoon. And vice-versa, when you want to sell, you can convert it to a stable coin like tether,which is always $1.00
And everyone needs to note that anytime you jump from USD to Coin X to Coin Y back to Coin X to USD, each jump is a taxable event.
For example: buying BNB, converting to Safemoon, converting back to BNB and then converting to USD is 3 taxable events.
This post was edited on 4/20/21 at 11:05 am
Posted on 4/20/21 at 11:03 am to UnluckyTiger
quote:
bnb to trust wallet? how long does it take to show up?
Took 3+ hours for me. KuCoin is having issues with BNB withdrawals right now, or at least as of last night.
Posted on 4/20/21 at 11:04 am to UnluckyTiger
Mine showed up in about 30min
Posted on 4/20/21 at 11:17 am to UnluckyTiger
After the 24 hour wait for me, the transaction from KuCoin to Trust Wallet took 20-30 minutes. It took me about 30 minutes to successfully convert to SafeMoon once there. It was tricky, for me at least, to get the inputs correct for the pancake swap.
Posted on 4/20/21 at 11:30 am to TigerTatorTots
quote:
And everyone needs to note that anytime you jump from USD to Coin X to Coin Y back to Coin X to USD, each jump is a taxable event.
For example: buying BNB, converting to Safemoon, converting back to BNB and then converting to USD is 3 taxable events.
Curious how one would determine the cost basis for the SafeMoon coins that are continuously redistributed to your account as transactions by other buyers and sellers complete? Since my initial purchase made only hours ago, thousands of coins have been added to my balance...
Posted on 4/20/21 at 11:34 am to 22jctiger22
quote:You'd take the price of the coin at the time it enters your wallet. There should be a time stamp when coins arrive and then when filing taxes, you can search based upon a given time, what the price of a coin is.
Curious how one would determine the cost basis for the SafeMoon coins that are continuously redistributed to your account as transactions by other buyers and sellers complete? Since my initial purchase made only hours ago, thousands of coins have been added to my balance...
For my own knowledge bc I haven't looked into Safemoon, what do you mean you have gotten thousands of coins after your initial purchase? If you buy X amount, does X amount arrive in your wallet? If so, what are the other coins arriving for/from?
Posted on 4/20/21 at 11:40 am to TigerTatorTots
Whenever anyone sells and it takes 10% supposedly 5% is redistributed and 5% is burned. Thats how I understand it anyway
Posted on 4/20/21 at 11:42 am to Stagliano
Yep I've gotten 10 million coin redistributed to me since I bought in yesterday
Posted on 4/20/21 at 11:46 am to Stagliano
yea once you go to pancake there is not a way for them to track your transactions. not sure how long this "loophole" will exist
This post was edited on 4/20/21 at 11:49 am
Posted on 4/20/21 at 11:47 am to TigerTatorTots
quote:
For my own knowledge bc I haven't looked into Safemoon, what do you mean you have gotten thousands of coins after your initial purchase? If you buy X amount, does X amount arrive in your wallet? If so, what are the other coins arriving for/from?
The following was taken from the white paper on safemoon.net.
Each SafeMoon transaction is assessed a 10% fee/tax which is split two ways. 5% is redistributed to existing holders, and the other 5% is "split 50/50 half of which is sold by the contract into BNB, while the other half of the SAFEMOON tokens are paired automatically with the previously mentioned BNB and and added as a liquidity pair on Pancake Swap".
Posted on 4/20/21 at 11:56 am to 22jctiger22
quote:
he other 5% is "split 50/50 half of which is sold by the contract into BNB, while the other half of the SAFEMOON tokens are paired automatically with the previously mentioned BNB and and added as a liquidity pair on Pancake Swap".
This should scare you - rugpull will be epic
The token contract creator likely has access and can withdraw their liquidity, although each sell will continue to add it back.
This could be an epic exit scam
Posted on 4/20/21 at 11:59 am to eng08
yea exit scams happen on pancake all the time fwiw
I'd say to not get greedy with profits but safemoon does have legs. I'm just observing from the sidelines
I'd say to not get greedy with profits but safemoon does have legs. I'm just observing from the sidelines
Posted on 4/20/21 at 12:00 pm to rocket31
I replied to your other post too
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