We will remember 2021 as the year when several cryptocurrencies increased their value by thousands or tens of thousands of percent. We will also not forget it as the year in which SafeMoon (SAFEMOON) was launched. SafeMoon is a BEP20 token running on the Binance Smart Chain and is one of the fastest-growing cryptocurrencies.
SafeMoon applies a distinctive approach to reward its holders. Those who sell this token are penalized, whereas those who hold it for a long time are rewarded. With this approach, investors could increase their token generation infinitely, provided they do not sell their holdings. Considering the excellent performance of SafeMoon in 2021, the investment in this token looks very promising. No wonder many investors have chosen to convert ETH to Safe Moon.
If you plan on converting your Ethereum (ETH) holding (or another cryptocurrency for that matter) to SafeMoon, you should learn the options you have. Different types of exchanges can help you with the operation: centralized exchanges, instant exchanges, and decentralized exchanges (DEXs).
Centralized exchanges like Binance and Coinbase allow you to buy cryptocurrencies with fiat money. They also enable converting crypto to fiat. This feature is their most relevant advantage. However, they usually charge high fees when it comes to crypto-to-crypto transactions. It is here that instant exchanges become relevant. They usually perform crypto-to-crypto transactions only. However, they typically have lower fees than big centralized exchanges.
Decentralized exchanges function through smart contracts and atomic swaps. They are perfect for peer-to-peer (P2P) crypto swaps. You could get excellent rates on a DEX. However, they need some knowledge of cryptocurrencies and smart contracts. So, they are not the best option for beginners. Hence, instant exchanges are the best option for crypto-to-crypto swaps for users of all experience levels.
LetsExchange, the Best Online Platform for Your Crypto Swaps
You now know the type of exchange you should use to swap ETH to SAFEMOON. But what is the best cryptocurrency exchange online of this type? Experts recommend LetsExchange as the best platform to trade digital coins and tokens, considering relevant factors. This instant exchange offers many benefits that make it perfect for beginners and seasoned traders and investors alike.
This platform has a very easy-to-use interface. The swap process is so intuitive that you do not need any previous experience with cryptocurrencies to transact on this exchange. Also, LetsExchange does not require its customers to provide personal or financial information. You do not have to pass KYC procedures either. If privacy and confidentiality are critical, then this platform is for you.
As of the first week of April 2022, this exchange supports over 370 cryptocurrencies and tokens. Hence, you will likely be able to swap your current crypto holdings for SAFEMOON on this platform. When you swap cryptocurrencies, you can choose between fixed and floating rates. The former will allow you to keep the conversion rate unchanged until the completion of your swap. The latter will allow the rate to fluctuate according to the market, allowing you to benefit from volatility to get a more profitable trade in some cases.
But one of the major benefits is the competitive rates this platform offers. LetsExchange utilizes the so-called SmartRate technology, which automatically selects the best rate from a pool of liquidity providers.