Safe Galaxy: Safe Havens Or Bogus Lair For Investors?

What Is Safe Galaxy?

When Safe Galaxy was launched, it was claimed that it is a static yield farming, automatic yield generating, and deflationary token developed on BSC. This explains that SafeGalaxy’s supply will dwindle over time.

And What Does Safe Galaxy Claim?

Safe Galaxy tokens can be farmed just by holding them in a wallet, and the market was claimed to be liquid for Safe Galaxy always.

Safe Galaxy charges 10% transaction fees on each transaction, which would be segmented into half for LP generation and Reflection.

In Reflection, half of the fee is dispersed to each wallet holding Safe Galaxy crypto on its ratio basis, meaning more holdings will generate more yield, the rest 50% will be used for LP, which will again be halved. 25% gathered in SafeGalaxy, will be sold to BNB. Rest 25% will be harmonized with BNB, and sent to PancakeSwap LP.

These couple of operations are for benefiting holders and bringing the whales to book.

Is Safe Galaxy Still Active?

After looking into Safe Galaxy token’s official website, there was nothing to be found, because nothing can be discovered on “DEAD” websites. Yes, that’s right, if you will try to step into its official websites, SafeGalaxy.net and SafeGalaxy.me, the pages of either site will show that it cannot be reached.

We accessed its official Twitter account @SafeGalaxyToken, the account is dead too. It still has 230 followers but doesn’t even have a single post there. What kind of “official” account doesn’t make posts regarding its ecosystem and updates.

Its stockbits account is active, where the last post was made on 13 Feb 2022, and the other posts are claiming that it will go up, up, and up. While a user made a comment that he is still holding the coin in trust wallet and does not know what to do.

Accessing its medium account is displaying “Error 404 Page Not Found.”

Looking Deep Into Safe Galaxy Token Metrics

After staring deep into its metrics on BscScan, it shows it have a total of 318,533 holders, where 40.5% have been locked into a Dead address, meaning they are burnt, and 43.9% are locked into PancakeSwap. But the token is unsearchable on PancakeSwap now.

Its owner address shows that it holds a balance equalling 51.1 BNB, and transactions appear to be circulating into multiple wallets, where the highest number of Safe Galaxy token transfers took place on 29 July 2021, and 54 transfers were made. The process slowed down after that.

Also Read: VeChain, Revolutionary Entrepreneurial Blockchain Explained: VeChain Price Prediction 2022

What Does The Safe Galaxy Chart Say?

Safe Galaxy began trading on 24 March 2021, where it traded in the range of $0.000000001022 – $0.0000000043939. It reached its all-time high on 21 April 2021.

After that, it started to ride the bears who began to run down the hill, and as it can be seen in the chart, it stopped on 22 August 2021, where it got locked at $0.0000000013889.

After that date, the coin never saw any fluctuations and kind of ceased to exist.

Source: Poocoin

Is Safe Galaxy Scam Then?

After doing so much research and analysis on Safe Galaxy, I can safely say it is a scam. Nothing associated with this token makes sense. Sites are down, community is always bullish, even after it hasn’t been traded for months.

This coin will never give you any profits, but it can surely take you down to the ocean.

There are so many deceptive coins circulating in the market that only have a sole purpose: Feeding on investors money and then make a run, leaving the folks empty handed.

There are so many crypto assets circulating in the market like Safe Galaxy, and investors should not focus on these bogus crypto assets, and must stay distant from them as much as they can.

Disclaimer

All the details given in this article is purely for informational purposes and does not contain any intentions of inducing investment interests in cryptocurrency. Sole purpose of this article is to spread awareness regarding fraud cryptocurrency scams. Readers are advised to conduct their own crypto research on the cryptocurrency market before making any investment.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing