SafeMoon Vs Bitcoin: How to examine these two cryptocurrencies?

SafeMoon (SAFEMOON-USD) is a new kid on the crypto block as compared to Bitcoin (BTC-USD). About cryptocurrency, then Defi token development like SafeMoon is one of the most gossip crypto blocks. Here is what you need we need to know if thinking about buying it.

You have heard about SafeMoon if you continue with cryptocurrency much. Even though it has built an impressive following through good marketing and high early returns only in a few months.

At this stage, neither cryptocurrency meets our expectations of an investment. But for usurers and traders, the benefits could be value the risk.

Financial Asset as a Bitcoin

There are two core attributes for an investment need -ie. Value and Scarcity. The volatility in Bitcoin and the whole crypto market has both, even if in unorthodox ways, compared to traditional asset classes.

Since the main aim of Bitcoin is a medium of exchange or currency, some of the classes people value in that role are.

Semi-autonomy

Like fiat currencies, no centralized governments control Bitcoin’s supply. It is due to the crypto wallet’s development can dwell outside the traditional banking system and make concepts like FDIC insurance unnecessary.

Pseudo-anonymity

No currency transaction is complete ever unknown if you’re dealing in laundered cash, gold bars, black-market diamonds. Although, you are dealing with legitimate transactions using credit cards or Bitcoin.

It can be difficult to trace those to an individual, while Bitcoins transactions are traceable is a prime feature of the currency.

Decentralized, Mobile Transactions and Storage

With an internet connection from anywhere, the sending and receiving of Bitcoin are by anyone. Although, it is with the network around the world not eased by a centralized mediator. It is with a financial institution or without first storing the currency.

As everything has its advantage and disadvantage, Bitcoin has its own. It has more positive qualities and some negatives as well. Bitcoin meets the value criteria of investment that is only purpose here to highlight. In another way, people want a real-world use for Bitcoin.

Scarcity

As for knowledge, Bitcoin by design has 21 million of finite supply, but only under 19 million bitcoin in existence, and to mine, over 2 million left.

To create all cryptocurrencies other than Bitcoin the term refers to "altcoin." Examples are SafeMoon, security tokens, stable coins, utility tokens, etc. In a Circular way, altcoins drive Bitcoin’s scarcity into question. Although, consider another older cryptocurrency called Litecoin that has better upon many Bitcoin properties. Such properties are faster transaction times while sacrificing almost nothing.

Financial Asset as a SafeMoon

There is more problem in SafeMoon token than Bitcoin. It has less transparency on how it works. But cryptocurrency precis within the crypto community is one of the current rages. The full control of financial institutions is under decentralized application services.

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Conclusion

The comparison between SafeMoon VS Bitcoin tells that in some parts, SafeMoon is lacking as it has got complicated structure than bitcoin. The consensus mechanism is also the difference between them. Although, the SafeMoon has not proved itself.

Oodles Blockchain is the blockchain development arm of Oodles Technologies. We have rich experience in designing and developing robust blockchain solutions for businesses operating in diverse industries.