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how to withdraw safemoon from trust wallet?

In this article on shetcoiner site, we want to teach you all the points that we should consider when selling our Safemoon currencies in TrustWallet.

As you know, Safemoon is one of the currencies designed on the Binance Smart Chain network. Any currency designed on this network can be easily converted or sold in your TrustWallet, or you can convert it into dollars through a bank account.

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What is Safemoon?

Safemoon is an encrypted currency that is only available online and people plan to use it as a way for exchange; like popular crypto currencies such as Bitcoin and Ethereum, Safemoon supports Blockchain technology. Safemoon was created on the Binance smart chain and has a market value of about 1.3 $ billion alone, in September 2, 2021; while the transaction volume for Bitcoin is about 930 billion dollars, and this shows the difference in reputation between the two currencies.

It is designed to encourage you to make long-term investments. It does this by receiving 10% fee from buyers that half of which goes to the holders of the currency and the other part use in the liquidity pool. So if you are a long-term investor, you can consider this currency. Safemoon developers also manually reduce the amount of Safemoon in circulation so that they can reduce supply and increase prices.

What should I do to sell Safemoon currency?

1 * First of all, you need to install TrustWallet on your mobile phone. After completing this step and logging in to your account or creating a new account, you can do the rest of the steps.

2 * you will need to connect to Pancakeswap through your browser in your TrustWallet. If you do not know how to do this, You need to search this phrase in your mobile browser:

Trust: // browser_enable.

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3 * after that, a message will appear on your page that opens in your wallet by clicking on “Open”.

4 * after this part, when you enter your wallet, you can see Pancakeswap in the Popular section.

5 * in this section, using Pancakeswap, you can convert your currencies into Safemoon or sell them this way. After this, in the first part, we select the currency we want to convert, and then in the next part, we select the currency we want to receive. By clicking on the “Max” option, we convert all the currency we have into the currency we want to receive.

Remember, if you cannot find this currency in the list, you can select the address of that currency through the Coinmarketcap site and then paste it in the search field.

6 * after this step, you need to confirm your transaction. It will take some time for this transfer to take place after you confirm it. At the end, when you return to your wallet page, this transaction is done and this currency is added to your wallet.

Does TrustWallet report to irs?

In this part, we have taught you the best way to convert Safemoon to other currencies. If you want to convert Safemoon currency to another currency, it is better to convert it to BNB; because the cost you pay for the transaction is very low.