The cryptocurrency market has faced quite some backlash from its very first days, being considered a scam and fraud hundreds of times. Whenever the crypto market dipped and the price of Bitcoin – the biggest cryptocurrency of them all – fell, they called the market dead. With this came panic selling, which crashed the market even more.
We have understood that the crypto market is not a scam, yet, there are many scam cryptocurrencies and tokens circulating the market. That being said, it is hard to tell whether a token is a scam or not since the crypto market is unregulated.
SafeMoon, a DeFi token that had all the attention back in spring 2021, was also considered a scam token. Nevertheless, this token is one of the few tokens that proved everyone wrong. With the recent announcements on upcoming products, SafeMoon solidified itself as a serious token.
Why Isn’t SafeMoon Listed on Coinbase?
Coinbase is one of the biggest cryptocurrency exchanges in the world. This crypto exchange is based in the United States and is considered to be the best exchange in the U.S. as of right now – with Binance as a runner-up.
Being one of the biggest crypto exchanges in the world comes with many responsibilities. One of them is carefully choosing which tokens to list.
Four of the main guidelines that every crypto should consider before applying are:
- Token Distribution – information about how tokens are distributed
- Level of Decentralization – the degree of decentralization of nodes
- The Code – information about the code and its origins
- User Privileges – equality between holders
Because SafeMoon is the first reflection token, people criticized it for its tokenomics since they did not quite understand them. With all the backlash that SafeMoon faced throughout the months, Coinbase probably decided to stay away from it.
When it first launched, this token was highly centralized and there was not enough information on how their tokens had been distributed. Since these two elements went against the guidelines of Coinbase, SafeMoon lost its chance to be listed on Coinbase for the time being.
Conclusion: Will SafeMoon Get Listed on Coinbase?
The future of SafeMoon is uncertain, as is the future of the whole cryptocurrency market. However, it is predicted that the crypto market will surpass any other in record time. That being said, crypto projects with serious plans and products are likely to increase in value. SafeMoon has big plans for the future, with the launch of its wallet, it confirmed that it is on a bright path. We believe that, with the recent events, SafeMoon may be listed in Coinbase during early 2022.
- The cryptocurrency market has faced enormous criticism throughout the years.
- SafeMoon is one of the tokens that experienced the most hate this year.
- Coinbase is very strict when listing cryptocurrencies and tokens.
- Four of the main things to consider when trying to list your token on Coinbase are the code, user privileges, token distribution, and the level of decentralization.
- We believe that SafeMoon is likely to be listed in Coinbase in the near future.