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SafeDeal

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Discover SafeDeal's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is SafeDeal?

SafeDeal (SFD) is a cryptocurrency that originated from an anonymous peer-to-peer (P2P) exchange platform for coins, files, and information. It has evolved into an ecosystem focused on building decentralized applications (DApps) that connect classic coins with smart blockchains.

How is SafeDeal used?

The SafeDeal (SFD) cryptocurrency is used in various ways, primarily for staking and creating masternodes. These uses allow users to generate additional coins while holding their existing SFD tokens. This process can provide passive income and incentivize users to participate in the network.

How do I store SafeDeal?

To store SafeDeal (SFD) tokens securely, you can use a variety of crypto wallets. Here are the steps to follow:

  1. Choose a Crypto Wallet: Select a reliable and suitable wallet that supports SFD tokens. Popular options include Coinbase Wallet, MetaMask, and TrustWallet. You can download the wallet extension on Google Chrome or the wallet app from the iOS App Store or Google Play.

  2. Set up Your Wallet: Create an account by providing personal information and a strong password. You will be given a Secret Recovery Phrase or Seed Words, which is crucial to note down accurately in case you lose access to your wallet.

  3. Types of Wallets: There are two main types of wallets:

  • Hot Wallets: These are online wallets, suitable for frequent trading and quick transactions. They are more convenient but less secure.
  • Cold Wallets: These are offline wallets, ideal for storing large amounts of crypto over a long period. They are more secure but less accessible for frequent trading.

For beginners, hot wallets are recommended for quick online transactions. For long-term storage, cold wallets are a safer option.

  1. Transfer Funds: Once you have set up your wallet, you can transfer your SFD tokens to it. Make sure to use the correct wallet address to avoid any losses.

By following these steps, you can securely store your SafeDeal (SFD) tokens in a crypto wallet.

How to buy SafeDeal?

To buy SafeDeal (SFD) tokens, follow these steps:

  1. Choose a Crypto Wallet: Select a reliable and reputable crypto wallet that supports SafeDeal (SFD). Popular options include Coinbase Wallet, MetaMask, and TrustWallet. Download the wallet extension or app from the relevant stores.

  2. Set Up Your Wallet: Create an account, provide personal information, and set a strong password. Make sure to note down the secret recovery phrase or seed words accurately.

  3. Buy a Base Currency: Choose a cryptocurrency exchange platform and buy a base currency such as Bitcoin, Ethereum, or Tether. This will be used to trade SFD.

  1. Transfer Funds to Your Wallet: Withdraw the base currency to your crypto wallet by providing your wallet address and the amount to transfer.

  2. Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet. Ensure the exchange supports the SFD token and has sufficient liquidity for the trading pair.

  3. Buy SafeDeal (SFD): Connect your wallet to the DEX, select SFD from the list, and enter the amount you want to trade. Be cautious of market trends and trading fees.

  1. Store Your Tokens Safely: For long-term storage, consider using a cold wallet, such as a paper wallet or hardware wallet, to keep your tokens secure.

Remember to research the project, evaluate the pros and cons, and consider your risk appetite before investing in SafeDeal (SFD).

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History of SafeDeal

The history of SafeDeal (SFD) is marked by significant milestones and developments. Initially, SafeDeal began as an anonymous peer-to-peer (P2P) exchange platform for coins, files, and information, powered by its native ERC20-based token, SFD, which operates on the Ethereum blockchain. This platform aimed to provide users with a secure, convenient, and safe network for making payments and exchanging assets anonymously, with an escrow service protecting all deals.

Over time, the project evolved into a broader ecosystem focused on building decentralized applications (DApps) that connect classic coins with smart blockchains. This expansion highlights the project's commitment to innovation and adaptability in the rapidly changing cryptocurrency landscape.

The SFD token plays a crucial role in the platform, serving as the primary fuel for all service fees. Users can buy SFD coins, create Mastermode, and stake them to participate in the network. The founders of SafeDeal, including Tony Gallippi, Roger Ver, and Barry Silbert, have been instrumental in shaping the project's vision and direction.

Throughout its history, SafeDeal has experienced fluctuations in its market cap and trading activity, reflecting the dynamic nature of the cryptocurrency market. Despite these changes, the project continues to grow and evolve, solidifying its position as a notable player in the crypto space.

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How SafeDeal works

SafeDeal (SFD) is a cryptocurrency token that operates without its own blockchain. Instead, it leverages existing blockchain networks to facilitate transactions and interactions within its ecosystem. The project initially started as an anonymous peer-to-peer (P2P) exchange platform for coins, files, and information, but it has since expanded to build decentralized applications (DApps) that connect classic coins with smart blockchains.

Key Features
  • Token Structure: SafeDeal is a token without its own blockchain, relying on other blockchain networks for its operations.
  • Consensus Mechanism: The token uses a Proof of Stake (PoS) consensus mechanism, which is more energy-efficient compared to traditional Proof of Work (PoW) mechanisms.
  • Algorithm: The algorithm used by SafeDeal is Quark, which is designed for secure and efficient transactions.
  • Open Source: The project is open source, allowing developers to contribute and review the code on platforms like GitHub.
  • Decentralized Applications (DApps): SafeDeal focuses on building DApps that connect classic coins with smart blockchains, enhancing the overall functionality and interoperability of the ecosystem.
Trading and Accessibility
  • Exchanges: SafeDeal tokens can be traded on centralized crypto exchanges such as XeggeX, Birake, and StakeCube Exchange, with the most active trading pair being SFD/BTC.
  • Wallets: Users can store their SFD tokens in various crypto wallets, including hot wallets like Coinbase Wallet, MetaMask, and TrustWallet, as well as cold wallets for more secure long-term storage.
  • Market Performance: The token's price is calculated by aggregating data across multiple exchanges and markets, and its market capitalization is ranked #1817 on CoinGecko.
Future Development and Price Prediction
  • Ongoing Development: The project is currently under ongoing development, with continuous updates and improvements being made to its ecosystem.
  • Price Prediction: According to some predictions, the price of SafeDeal is expected to rise significantly in the near future, with a predicted increase of 226.29% by June 30, 2024.

Overall, SafeDeal aims to create a robust and interconnected ecosystem by leveraging existing blockchain networks and building decentralized applications that enhance the functionality of classic coins.

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SafeDeal's strengths

The strengths of the SafeDeal (SFD) token include:

  • Security and Anonymity: SafeDeal allows users to exchange coins, information, and files anonymously, ensuring a secure and private experience. The platform's Escrow Service protects all deals, adding an extra layer of security.
  • Convenience and Flexibility: The platform aims to provide a convenient and safe network for making payments, making it a versatile option for users.
  • Low Fees: All service fees on the platform are paid using SFD tokens, which can help reduce costs for users.
  • Decentralized Nature: SafeDeal operates on the Ethereum blockchain, offering a level of transparency and security not found in traditional methods of online transactions.
  • Potential for Growth: Long-term price predictions suggest that SFD could reach higher prices in the future, indicating potential for growth and investment opportunities.

These strengths highlight the token's focus on security, convenience, and cost-effectiveness, making it an attractive option for users seeking a reliable and private platform for transactions.

SafeDeal's risks

SafeDeal (SFD) is a cryptocurrency that carries significant financial risks. According to InvestorsObserver, SFD achieves a high risk analysis based on proprietary research, indicating that the coin is highly volatile and susceptible to significant price fluctuations. Additionally, Investing.com NG warns that trading in financial instruments and/or cryptocurrencies, including SFD, involves high risks, including the risk of losing some or all of your investment.

CER.live assigns SFD a security score of D (15/100), indicating that investment in this project is highly risky. The platform also notes that SFD has an insurance fund for incidents, but this does not mitigate the overall risk profile of the token. Furthermore, CoinMarketCap provides a disclaimer that trading in cryptocurrencies like SFD carries risks and may result in significant losses.

These warnings highlight the importance of thorough research and caution before investing in SFD or any other cryptocurrency. It is crucial to understand the risks involved and to make informed decisions based on your individual financial situation and risk tolerance.

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Did SafeDeal raise funds?

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SafeDeal's ecosystem

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SafeDeal’s team

  • Founders: Tony Gallippi, Roger Ver, and Barry Silbert are the founders of SAFE DEAL.

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