In this article, you’ll find out what you’ll need as well as the specific procedures for selling your Safemoon cryptocurrency on the Trust wallet. Safemoon is a fork of Binance Smart Chain (BSC), for which we may swap it using Pancakeswap since it can’t be directly sold via the Trust wallet.
Safemoon is not sold on major cryptocurrency exchanges like Uphold and Kraken, but instead via PancakeSwap, a platform that lets several cryptocurrencies be exchanged. To sell Safemoon, you’ll need to have a BNB-accepting cryptocurrency trading account. In this guide we are using a Binance US account.
If you already have a Binance account, then you can skip this step and move on to selling your Safemoon token.
What you need:
- Safemoon wallet or supported exchange
- Trust wallet
- Binance account
Steps to sell Safemoon on Trust wallet
You can access the Trust wallet via a browser or the mobile app.
- Open the Trust Wallet app and tap on “Browser” (“dApps” for Android users).
- Tap on “PancakeSwap.” inside the wallet or dApp browser.
- In the “From” section, tap on the BNB symbol. Type the word “Safemoon in the search bar.
- “Tap on “Safemoon.” You’ll get a notice that Safemoon tacks on a 10% transaction fee; 5% is distributed to token holders and the rest is added to liquidity. Tap on “I understand” and hit “Continue.”
- Tap on the aquamarine icon next to the clock symbol. Set your slippage and click “X.”
- Tap on “Select a currency” and hit “BNB.”
- In the “From” section, tap on “Max” to sell all of your Safemoon tokens (if you want to sell a portion, you can type in the amount you’d like to sell).
- Tap on “Swap” and hit “Confirm Swap.”
- You’ll be taken to a page that will inform you of BNB network fee. If you’re satisfied with it, hit “Send.”
- You’ll then get a “Transaction submitted” message. If you click on the BscScan link, you can check the status of the transaction. Once it’s processed, it will go from “Pending” to “Success.”
Convert Smart Chain to BNB
- On Trust Wallet’s main page, you should see that your Safemoon is converted into BNB Smart Chain currency. To swap it to Binance Coin, tap on “Smart Chain,” hit “More,” and tap on “Swap to Binance Chain.”
- A confirm page will appear informing you of a network fee. Tap on “Send.”
- Go back to Trust Wallet’s main page and you should see your BNB balance is updated.
How to send BNB to Binance US
In order to sell Safemoon, you will need to send the converted BNB to an exchange that supports BNB.
- Tap on “BNB” and hit “Send.” Keep this tab open; you’ll need to go back to it.
- Go to Binance US, navigate to “Wallet” and click on “Deposit.”
- Select BNB as your coin, and copy your wallet address and your BNB memo number.
- Go back to Trust Wallet. Paste the address under “Recipient address,” and paste the BNB memo number under “Memo.”
- Tap on “Max” and hit “Next,” which will lead you to a confirmation screen. Hit “Send.”
- You should now see your Safemoon-exchanged BNB in your Binance US account.
How to exchange BNB for USD
From here you can sell your BNB for USD or you add your BNB to your Metamask wallet if you choose.
- On the Binance US website, go to “Buy Crypto” and click on the “Sell” tab.
- Select “BNB” under “Sell” and “USD” under “Payment Method.”
- Click on “Max” and hit “Sell BNB.”
- The transaction will complete and you will have sold your Safemoon for USD.
There are sometimes restrictions based on your location. Residents of Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, and Vermont will need to use a different method to sell Safemoon. They’ll have to send BNB to Atomic Wallet, convert it for Stellar Lumens (XLM), deposit XLM with Coinbase and swap it for dollars.
Withdrawing to your bank account
Now that you have USD funds available, confirm your bank account is synced and enabled for withdrawals and your account is fully verified.
- Head over to Binance and click on “Fiat and Spot”
- Find the USD asset and select withdraw and choose your bank account.
- Confirm the amount and wait for your withdrawal request to be approved.
- Keep in mind that there are minimum amount requirements along with a transaction fee and limits up to $5,000 daily on fully verified accounts.
- You can track the status of your withdrawal by clicking “View History.”
Selling your Safemoon from your Trust wallet is a quick and simple process that can be done in minutes. You can convert your coins from Safemoon to BNB using PancakeSwap and then move it to a BNB supported exchange that is verified and has your bank account connected.