#Safemoon has been in the spotlight becoming one of the fastest growing crypto currencies this year building a very impressive market capital in such a short time.
I would like to share some of my thoughts on #Safemoon with you guys in the crypto community and why I will be hodling this coin for the foreseeable future (and maybe even buying the dips).
These are only my opinions and not financial advice.
Crypto currencies are not for the faint hearted
Anyone that has held crypto currencies for any amount of time will atest to the fact they are volatile, Having huge gains or dark red days is part of the norm here in the crypto world.
"If you don't feel comfortable owning a stock for 10 years, you shouldn't own it for 10 minutes" Warren Buffet
It may be cliche quoting Warren Buffet but lets give credit where it is due, he is one of the greatest investors in the world. You can take this quote and substitute stock with crypto currencies. Don't invest in anything just because someone has posted on social that the price will double overnight and get upset when it doesn't. Invest in something you believe in and always do your own research before buying anything.
Safemoon isn't suited to trading daily, it is much better to look at the long term plan and compound your earnings. Didn't a wise man once say compound interest is the 8th wonder of the world?
Tokenomics - Get paid to Hodl #Safemoon
Since the financial crash interest rates have hit rock bottom. Traditional bank accounts interest rates are low usually paying you less than inflation. This results in the value of your money going down.
If a bank told you, your current account would pay money each time a customer of the bank spent money would you sign up? That is what is happening right now with safemoon. Is this a future way of saving? or even making a income? I hope so and like I said ill be holding safemoon.
Each time a safemoon transaction occurs a portion of the 'transaction fees' are returned to the users and a portion is burned. This makes it a very attractive proposition for a crypto currency. Giving safemoon hodlers more safemoon each time a transaction occurs and decreasing supply. Decreasing the supply will increase the value of safemoon.
Let me know what you think in the comments.