RIGA, LATVIA / ACCESSWIRE / January 7, 2022 / The launch of a brand new crypto start-up, SAFU, signals a new age of investor safety in 2022 by taking on the fight against fraudulent cryptocurrency activity.
An eye-watering $7.7bn was stolen from investors via crypto scams in 2021, including $3m lost on the illegitimate Squid Coin named for, but in no way connected to, the phenomenally successful Netflix show ‘Squid Game'.
These losses represent a massive 80% increase compared to 2020, a trend SAFU will fight to reverse using a first-of-its-kind verification system called SAFUCheck. The system will take the validation process to far greater levels of rigour, through an in-depth review of any team listing new coins to ensure they are exactly what they say they are.
Initially focusing on the Binance Smart Chain (BSC), the company states its intention to: "Create new investor confidence on BSC and provide greater confidence for long term investors in amazing crypto projects." The company will build on success by expanding to other chains.
"Creating a whole new space for currencies and exchanges has so far meant losing some of the checks and balances that have been at the heart of trading since time immemorial, particularly the basic idea of knowing and understanding exactly who you are dealing with" explains the founders of SAFU. "Just because crypto rejects the institutionalisation of currency doesn't mean it has to reject the common sense of verifying that people are who they say they are, and what they are offering actually exists.
"SAFUCheck will be an instantaneous and reliable way to ensure you are buying coin that comes from genuine businesses with legitimate intentions and authentic objectives."
The SAFUCheck verification system will provide security through a series of real-world measures and checks including actually meeting new developers, checking their career references, performing background checks and confirming previous experience. All this will be underpinned with a thorough review of business plans for crypto tokens with only those presenting solid, measurable and well researched objectives and strategies making the grade. Projects that complete this verification will receive a SAFU certification badge, which ensures that the project has passed the full suite of in-depth verifications.
SAFU's own coin, SAFUCoin, exhibits the same ethos to ensure investor confidence by being one of the first coins to reward long term holders. This next-generation new crypto uses a unique tax mechanism that provides holders with accelerated rewards in BUSD. 3% -5% of every transaction is shared and redistributed to all existing token holders in BUSD meaning the longer you hold SAFU coin the more you will earn in rewards.
The SAFU team is hard at work preparing to build their first utility SAFUCheck. We want to be the cryptocurrency to watch in 2022 and ensure that early adopters are happy with their investment."
Currently, PancakeSwap is the exclusive exchange offering SAFU coin. However, as the project grows it will be offering SAFU on several different exchanges.You can connect with SAFU and its team by following its Twitter or joining its growing Telegram Group.
CONTACT: Janis Masalskis [email protected]
SOURCE: SAFU