What is SafeMars?
SafeMars (SMARS) is a cryptocurrency and it is a community-driven project meaning it grows with community participation.
It was launched only one year ago in March 2021. It is a fairly young and unestablished cryptocurrency. Therefore, investors may be reluctant to invest in it and it is evident from its low-price and volume history as well.
SafeMars was developed with the idea of rewarding cryptocurrency investors with passive income. It aims to offer investors without staking or crypto farming.
It attracts investors through community participation and rewards them for only holding SMARS coins in their digital wallets without ever trading or staking them.
The basic idea of SMARS is a token tax of 4% with each transaction from every side. This token tax is then distributed among its participants.
This way, SMARS acts as autonomous liquidity and yield generation protocol as the company claims. It means that the SMARS coin is protected from the lowest-possible floor price (zero) and zero liquidity.
What is Unique about SafeMars?
Every cryptocurrency comes with some unique features to attract investors. SafeMars also has a few unique features but it is yet to make a mark on investors.
Let us briefly discuss what makes SafeMars unique from other crypto coins out there in the market.
The SafeMars protocol is community-driven. It is aimed to generate rewards through community participation.
Here are a few key points that the company claims are unique to SafeMars regarding its protocol safety.
- It was launched with an initial Liquidity Pool (LP) token burn.
- The company aims to regularly burn newly-generated LP tokens.
- Contract audit with the industry leader Certik.
- No minting functions.
- 6% team wallet allocation.
One of the key features of Safemars is its manual token burn. It manually burned around 53% of its total possible token supply before its launch.
Now, it aims to regularly burn SMARS tokens to keep the token supply and trading liquidity under control.
The token burn may not be an ideal solution for all cryptocurrencies. However, with the manual burn function, SMARS can control its token supply.
The SafeMars protocol generates an automatic liquidity pool by catching tokens from sellers and buyers alike.
Additionally, as SMARS transactions are token taxed at 2% each, it adds more BNB/LMARS tokens.
This way, SMARS can generate a minimum level of token liquidity. Also, the manual burn function helps in controlling the over-supply of tokens which again helps in maintaining liquidity.
Static rewards are beneficial for investors holding digital tokens for the long term. SafeMars also offers rewards to its investors for holding coins for a long time.
This initiative discourages large investors from selling tokens in bulk which can create a sudden price dip as in the case of other crypto coins.
How to Buy and Sell SafeMars Coins?
SafeMars is available for trading at selective cryptocurrency exchanges. Before that, we’ll take a look at the token supply and pricing briefly.
SafeMars issued a total of 1,000,000,000,000,000 SMARS token initially. Around 53% of these tokens were burned manually to control the supply. 6% of the token supply is for its team members. And the remaining 40% is used as a pre-sale supply.
SafeMars coin is not currently supported by big crypto exchanges like Binance or CoinDesk. However, you can buy or sell it through some other cryptocurrency exchanges like MEXC, Pancakeswap, and Jubi.
Here are a few simple steps to follow when you want to buy or sell SMARS coins.
The first step is to open an account with a crypto exchange allowing a purchase of Binance coin BNB. Your transactions from SMARS will be converted to and from BNB coins.
You can open an account directly with the Binance market or any other platform offering BNB coins.
Since most leading crypto exchanges do not currently support SMARS, you’ll need to find one to purchase them.
For instance, you can use your BNB wallet balance to use Pancakeswap and SMARS coins.
Now, you can make an exchange transaction from SMARS to BNB first. You can use the same process in reverse order when you want to sell SMARS coins.
In the final step, you’ll need to convert these BNB coins into dollars if you want.
As you can see trading SMARS is a fairly complex and costly procedure. It incurs more transaction costs from at least two crypto exchanges.
On top of that, it will impose a token tax of 2% for each transaction from its buyers and sellers.
Is SafeMars a Good Investment?
The current market price and trading volume suggest that SafeMars is near extinction. It is currently trading at $ 0.0000000047 with a daily trading volume of only $ 34,389.
However, some of its safety and trading features are unique to SMARS only. It is also a relatively young and emerging crypto coin. Therefore, we cannot expect a higher price tag from it in its early days.
With a low price tag of $ 0.0000000047 and a meager trading volume of $ 34,400, it is no surprise that SMARS is currently ranking at 4,625.
We do not expect a sudden rise in its ranking in the immediate future. Unless the developers of SMARS offer something valuable to its community, the SMARS coin is going to stay at the lower tier in the ranking.
Total Coin Supply
Safemars had developed a maximum supply of 1,000,000,000,000,000 tokens. 53% of these tokens were manually burned to avoid over-trading.
Only a fraction of the available 40% of SMARS tokens has been issued to investors in its history. Hence, the supply in the market already exceeds the demand overwhelmingly.
SMARS has a price tag of a fraction of a dollar only. Its all-time highest price was recorded soon after its launch when it touched $0.000001436992 which again is a fraction of a dollar.
As mentioned earlier, the current price of SMARS token is $ 0.0000000047.
SafeMars price has remained below the 0.0000000050 mark in the last three months. Its trading volume has been low as well.
The company is in its early days and is yet to announce a significant technology development.
Therefore, it is fair to say that the SMARS price will take a long time to reach the 1 cent mark.
SafeMars is a relatively new and emerging cryptocurrency. It was launched only one year ago and is yet to make a mark.
It offers a few good features but all of them are related to its liquidity and trading features.
It does not offer a unique technology or solve a real-world problem that can catch an eye. Therefore, it is difficult for a low-profile coin to make significant progress quickly.
As evident from its price history and trading volume, it is going to stay a low-key digital coin for a long time.