While Ms Streeter said: 'Much of the demand has come from traders hoping to benefit from future price rises rather than using the coins or tokens as a means of exchange. He added: 'You’re simply reliant on someone further down the line being willing to pay more than you did to turn a profit, which is a risky bet indeed.' Meanwhile, SafeMoon is similar to a pyramid selling scheme, said Mr Khalaf. It then claims to reward investors that hold onto their purchases by redistributing 5% of the cash gained from the penalty charge among those who already have the currency. SafeMoon charges sellers a fee worth 10% of the amount of the cryptocurrency they are flogging to buyers. SafeMoon claims it will reward people who buy and hold onto the cryptocurrency.įor those who sell the currency on will be slapped with a penalty.

It is being held by 60 people conducted 1543 transactions so far. The ticker associated with the coin is NIMBUS. Like Bitcoin they use a complicated method called blockchain technology. Poocoin Charts: MrNimbus on poocoin: Bogged Finance Charts: MrNimbus on Boggedfinance: Buy PancakeSwap: Buy MrNimbus on PancakeSwap: Description: MrNimbus is a token on the Binance smart chain. They are very complex but essentially aim to disrupt the finance world to enable people to follow and lend in peer-to-peer networks, without needing a bank.

SafeMoon technically isn't a cryptocurrency but a DeFi token, which stands for decentralised finance token. Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, told The Sun: 'There are now thousands of cryptocurrencies and tokens in circulation with the names becoming weirder by the day. You should only invest if you understand it and can afford to lose the money, and keep in mind the value can go down as well as up in the blink of an eye.Ĭryptocurrencies are also highly volatile and a speculative investment, with limited track records and no underlying value. Little is known about the cryptocurrencies and whether they're legit, meaning the risks to your investments are extremely high. Marketing materials: Firms may overstate the returns of products or understate the risks involved.īoth PooCoin and SafeMoon are new and launched last month on March 8.Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.Converting a cryptoasset back to cash depends on demand and supply existing in the market.

There is no guarantee that cryptoassets can be converted back into cash. Product complexity: The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks.Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.It is a community-driven project with AT LEAST x100 potential, even more depending on the community. Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements. SafeCat Token is the next BSC moonshot So I came across a project that had just recently launched, and I think SafeCat Token is an absolute gem and might be the moonshot of the day.

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