Safemoon

    SafeMoon Wallet – When Will The Long-Awaited Wallet Launch?

    Granit.MBy Updated:4 Mins Read
    SafeMoon Wallet - When Will The Long-Awaited Wallet Launch?

    We at Crypto Academy continuously emphasize the importance of carefully choosing a cryptocurrency wallet. Since it is the place where you will be storing your crypto holdings, we see cryptocurrency wallets as the last line of defense against thieves. Numerous cryptocurrencies have launched their wallets, providing a safe place for investors to store their holdings. For example, Elrond provides a non-custodial wallet for everyone who wants to buy (in-wallet option) or stake their EGLD. 

    SafeMoon, the token everyone is talking about, has many problems, but the biggest one is its low exposure to credible wallets. SafeMoon is not listed in any major centralized exchanges, making it impossible for people to buy and store SafeMoon in a place where their holdings are insured by a central authority. So, that leaves us with DEXs and non-custodial wallets. Having few options to buy and store SafeMoon harmed the token’s performance. Even though storing SafeMoon in wallets such as Trust Wallet is quite safe and efficient, iOS users are prohibited from using the DEX browser in Trust Wallet, making it extremely hard for them to get their hands on some SafeMoon.

    A while ago, SafeMoon answered these calls by announcing an upcoming non-custodial wallet that would serve the needs of a SafeMoon hodler as it should. Their announcement was welcomed by the public, positively impacting the price of its token. However, they did not give a date of launch or anything like that in the beginning, they only teased the wallet’s release through tweets.

    SafeMoon Wallet - When Will The Long-Awaited Wallet Launch?
    SafeMoon Twitter Header. Source: Twitter

    On the 8th of August, the SafeMoon team announced the release date for their heavily teased wallet. They stated that the wallet will go live on the 28th of August, with the Beta version being available earlier to only about 10000 individuals.

    On the 28th of August, the SafeMoon Wallet launched and was available for download on App Store and Google Play. Yet, minutes after its launch, the wallet completely crashed, making it unavailable for download for everyone.

    The developer’s team blamed this on the overwhelming number of downloads at the moment of launch. They are now working tirelessly to meet the expectations that they set for their project. The crash of the long-awaited wallet had a very negative effect on the image of SafeMoon, with people calling it a scam once again. 

    However, through the insight tweeted by the SafeMoon team, we got quite a good image of the wallet. First off, at the time of launch, the following tokens are expected to be available on the SafeMoon wallet:

    Secondly, we know that you can buy SafeMoon directly from the wallet, making the process of buying SafeMoon way easier than it is right now. Lastly, we know that the wallet will have an easy-to-use interface.

    After its failed attempt on the 28th of August, SafeMoon has to make sure that the next time they launch the wallet everything will run smoothly. That being said, the release date has been delayed once again.

    Also Read: SafeMoon Price Prediction 2025 – Should you HODL your SafeMoon?

    Takeaways

    • The SafeMoon Wallet was announced quite a while ago, promising to solve the issue of buying and trading SafeMoon efficiently.
    • In early August, the SafeMoon team announced the release date for the wallet – the 28th of August.
    • The launch was a fail since the wallet crashed immediately after it touched the stores.
    • SafeMoon claims that they are working tirelessly on the wallet and that a new release date will be announced soon.
    • The SafeMoon Wallet will likely be available by mid-October 2021.

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