Finance

The Additional Feature Tool on The SafeMoon Card

04/30/2022
Bitcoin Ethereum News

The Decentralized finance token, SafeMoon is currently trading at the live SafeMoon price of 0.000002100 on Gate.io, a global cryptocurrency exchange platform with a trading pair of SafeMoon/USDT and a circulating supply of 585,536,366,402,812 SafeMoon coins as of the time of writing.

On April 7, 2022, SafeMoon took to its official Twitter handle and tweeted, “How might the SafeMoon Army feel about getting to know the SafeMoon card and its features a bit better today?” This was one of the promises from the team for the second quarter of the year 2022, they would be launching a debit card. The SafeMoon Card pre-launch whitelist opened on Friday 8th April at 2 pm UTC, and the link was tweeted on Friday. Around the same time,” in less than 32 minutes, over 10,000 people jumped on the whitelist”.

Benefits of The SafeMoon Card (H2)

From the official whitelist page on the SafeMoon, those that will be whitelisted will be the first-ever owners of the SafeMoon Card. Also, the first edition of the card includes the “Launch Edition” on it and it will never be produced again. Will these benefits have any impact on the SafeMoon price? These are benefits of those that will be whitelisted as found stated on the whitelist page. 

  1. Use the SafeMoon and other cryptos for your purchases. (Instant conversion to FIAT at the time of spending).
  2. Securely manages your SAFEMOON card with the SafeMoon app.
  3. Prioritize and choose which order to use your crypto assets for spending.
  4. You can use a SAFEMOON card online or in-store. Globally accepted.
  5. Virtual card available in the app! (In addition to the physical card): This means a physical card AND a virtual copy in the app that you can use while you wait for the physical one to arrive or if you don’t have it at hand.
  6. Freeze and unfreeze your card.
  7. Download statements.
  8. Google Pay at launch (Apple Pay will not be supported at launch).
  9. Only 2.5% fee on transactions (1.5% processor fee, 0.2% burn, 0.4% reflections, 0.3% liquidity pool, 0.1% growth).
  10. View full transaction history.
  11. Full and secure KYC.

Furthermore, there is a crypto overdraft feature on the whitelist page which was not disclosed originally, that states one can borrow against his/her USDT and ETH crypto assets and this provides secure crypto draft crypto-swap products to users enabling the experience of crypto holders to get funding from 0% APR, allowing you to spend against your collateral easily. 

Baanx group is the sponsor of the SafeMoon Card and is issued through Optimus Cards UK limited, a principal member of Mastercard and licensed E-Money institution by Financial Conduct Authority. In January 2022, Baanx received Financial Conduct Authority (FCA) approval to undergo crypto assets activities. 

The FCA license approval allows Baanx to enhance its current services by providing secured crypto draft “better than a loan” crypto-swap products to users, enabling experienced cryptocurrency holders to get funding from 0% APR, allowing them to spend against their collateral easily. In short, if you stake 1 bitcoin at $50,000, you can get $5,000 of USDT at 0% APR; if you hold BXX, then you can, shortly, also be able to have a 0% APR Crypto Draft up to a 50% LTV. So this may be the reason why Baanx sponsored the SafeMoon Card.

Disclaimer. This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Cryptopolitan.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Source: https://www.cryptopolitan.com/the-additional-feature-tool-on-the-safemoon-card/