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    How To Buy SafeMoon In Australia (Beginners Guide)

    Updated: Dec 1st, 2022
    Kevin Groves
    Kevin Groves
    How To Buy SafeMoon In Australia (Beginners Guide)

    SafeMoon launched in March 2021 on the Binance Smart Chain network and became an overnight success. Many exchanges provided support for SafeMoon to allow investors and traders to purchase the coin. This article will explain how to buy SafeMoon in Australia and the best exchanges in Australia to trade it.

    What Is Safemoon?

    SafeMoon is a cryptocurrency launched on the Binance Smart Chain (BSC) network in March 2021. The project was designed to counter the extreme price volatility that often follows the market by deterring its investors to sell. The coin has a 10% transaction fee to reduce trading activity and reduce volatility. The blockchain project is currently on its second major version, SafeMoon v2.

    The major components in the SafeMoon ecosystem include:

    • SafeMoon Wallet: The official wallet for iOS and Android devices to monitor the performance of SafeMoon coins and for storage.
    • SafeMoon Exchange (Future Release): A cryptocurrency trading platform that will allow SafeMoon to be bought and sold using its DeFi swap tool.
    • Safemoon Hardware Wallet (Future Release): A dedicated hardware wallet for offline storage of SafeMoon tokens.

    Can I Buy SafeMoon In Australia?

    Several cryptocurrency exchanges in Australia support the cryptocurrency SafeMoon which can be directly purchased with AUD such as CoinSpot. There are also global trading platforms that allow Australians to join and trade Bitcoin, altcoins and stablecoins for SafeMoon.

    The alternative way to buy SafeMoon from Australia is to use Binance Coin or another Binance Smart Chain asset. For those that don't own BNB, it can be bought on popular trading exchanges and then converted into SafeMoon.

    How To Buy SafeMoon In Australia

    To buy SafeMoon in Australia, follow these simple steps:

    1. Create an account with Swyftx
    2. Complete identity verification
    3. Activate 2 Factor Authentication
    4. Deposit funds in AUD
    5. Select SafeMoon and enter the amount to buy

    Where To Obtain SafeMoon In Australia

    The best method to obtain SafeMoon is to use a regulated and trusted Australian exchange. Most exchanges in Australia offer the popular coin which can be purchased with AUD using a bank account. The following exchanges are easy to use and compliant with AUSTRAC for purchasing crypto in Australia. For an in-depth guide on how to buy crypto in Australia, read this article.

    ExchangeCrypto AssetsTrading FeesRatingPromotionWebsiteReview
    Swyftx

    Swyftx

    320+0.6%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.8/5
    StarStarStarStarEmpty Star
    $20 Bitcoin for creating a verified accountVisit SwyftxSwyftx Review
    Binance

    Binance

    600+0.1%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.8/5
    StarStarStarStarEmpty Star
    Up to $100 welcome bonusVisit BinanceBinance Review
    CoinSpot Logo

    CoinSpot

    370+1% for instant buy and sell
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.7/5
    StarStarStarStarEmpty Star
    None available at this timeVisit CoinSpotCoinSpot Review
    Digital Surge Logo

    Digital Surge

    300+0.5%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.7/5
    StarStarStarStarEmpty Star
    $10 Bitcoin for creating a verified accountVisit Digital SurgeDigital Surge Review

    Guide To Buying SafeMoon In Australia

    1. Create An Account With An Exchange

    The first step to purchasing SafeMoon is to create an account with a cryptocurrency platform in Australia such as Swyftx. To get started, visit the Swyftx website using our link for $20 BTC and click on the "Sign Up" button. This will re-direct to the registration page that will show the promotion code. Enter a valid email address, set a strong password, full name and phone number. Click "Agree" to the terms and conditions and hit "Create My Account".

    getting started with swyftxgetting started with swyftx

    2. Complete Identity Verification

    Once an account has been created, the next step is to commence the ID verification process in accordance with Know Your Customer (KYC) and Counter Terrorism Financing (CTF) regulations under Australian law. Before a wallet can be funded with AUD to deposit and withdraw funds, the account must be verified as per with the rules set by AUSTRAC.

    Using Swyftx as an example, the verification process is fast and hassle-free which can be completed within 2 minutes of creating a new account. To start verification, login to the account and navigate to the 'Verification' tab under the 'Profile Tab'. A valid email address, mobile phone number of identity document number will need to be provided.

    completing verification on swyftxcompleting verification on swyftx

    3. Secure Account & Activate 2FA

    To protect SafeMoon tokens within a crypto exchange account, it is vital to increase the basic account security level and turn on Two Factor Authentication (2FA). This should be the first step after verifying an account and prior to depositing any funds. 2FA is a specific type of multi-factor authentication that requires two methods to verify the user's account and even withdrawal requests. Popular 2FA apps for multi-factor authentication are Authy and Google Authenticator which can be downloaded for both iOS and Android devices.

    4. Deposit Funds In AUD

    Finding an exchange that accepts local deposit methods using Australian Dollars is an important consideration. The majority of cryptocurrency exchanges in Australia have direct AUD payment methods with varying fees. The most common deposit options include bank transfer, POLi and PayID. 

    POLi connects to Australian Bank accounts and is processed instantly. PayID and bank transfers can take between 1 and 3 business days. Alternative payment methods that are available with certain Australian exchanges include cash deposit at a local newsagency, BPAY and credit cards. Swyftx is a popular option in Australia to invest in crypto with a credit card. Although, this is a more riskier payment method and should be avoided if possible.

    deposit methods for AUD into a swyftx accountdeposit methods for AUD into a swyftx account

    5. Buy SafeMoon

    Now that an account is verified and funded with AUD, the final step is to complete the purchase.. To get started, click "Trade" on the left side bar. This will bring up the "Assets" list where you can search and select SafeMoon. Select how much AUD to spend and click "Instant Buy". The SafeMoon amount will be purchased, show in your trade history and stored in the Swyftx wallet.

    Exchanges That Support SafeMoon

    SafeMoon is a highly speculative cryptocurrency that is supported by most Australian exchanges. The following platforms in the list below are credible and trustworthy providers which offer SafeMoon as an asset to buy, trade and sell.

    • Swyftx. A top-rated cryptocurrency exchange in Australia that is highly regarded in the community. A feature-rich platform that has zero AUD deposit and withdrawal fees with competitive trading fees, Swyftx is a great option to invest in SafeMoon.
    • Digital Surge. Designed for simplicity and beginners, Digital Surge is a modern and intuitive exchange and mobile app that streamlines the buying and selling process. The fees are competitive and have instant AUD withdrawals.
    • CoinSpot. One of the oldest cryptocurrency exchanges in Australia, CoinSpot is a popular choice for investors to buy and sell SafeMoon. The fees are a little higher compared to the exchange above, however, has robust security measures and a secure wallet.
    • Gate.io. An advanced trading platform that supports over 900 cryptocurrencies including SafeMoon, Gate.io is a global exchange that is available in Australia to trade SafeMoon. The exchange does not support AUD deposits so users will need to deposit and convert Bitcoin, altcoins or a stablecoin into SafeMoon.
    • Hotbit. Popular cryptocurrency exchange for altcoin trading that currently supports SafeMoon. Australians can create an account and deposit crypto to exchange into SafeMoon. Like Gate.io, there is no option to cash out into AUD.

    Conclusion

    SafeMoon is a speculative investment for those that believe in the long-term value of the ecosystem. While the market capitalisation has been in decline since its peak in 2021, investors remain optimistic it will explode in popularity once again. Based on our reviews, the best places to buy SafeMoon in Australia are Swyftx, Digital Surge and CoinSpot.

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    Kevin GrovesKevin GrovesKevin Groves

    Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. In 2019, he started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.

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