Hello friends. Today I will guide you to detect an early BSC token and how to know if that Token is a Scam Token or not?
1. Dectect Early BSC Token
I have added a page list of the latest tokens on the Pancake Swap exchange. You can click the link below to follow.
Note that on this page, I only list new tokens on the exchange, not all newly created tokens. Tracking unlisted tokens makes no sense.
2. How to detect token scam
In the previous post, I talked about the time of the Coinmarketcap list. This time is one of the very good times to enter a buy order and has the advantage of being scammed because anyway, to get to Coinmarketcap, it is clear that the token must be censored by a number of factors. The previous times were very risky because we didn’t know anything about the project such as website, whitepaper, roadmap, team… And of course, I would not encourage you to spend money to buy at this time. However, the risk always comes with profit, and if you know how when buying at this stage the ROI will be very high x5, x10, or even x 100.
Did you know that to create a special token on the BSC platform, the cost is very cheap? Only a few USD and a few minutes a new token is born. Because it’s so cheap, the scam rate on BSC can be up to 90% or more and I am proof that when I first entered this field, I lost a lot of money, guys. NS. And from those lessons, I draw the cases of scams that I often encounter and note that this is just a way to avoid scams, and whether a token will increase in price in the future or not, that depends a lot on the factors. element.
2.1 Honeypot – Can be bought but not sold
This is the most common scam that most of the community and I have encountered. The reason is that the developer has inserted a piece of code that prevents people from selling them after buying. And people call them honeypot tokens.
However, there are many ways to check if a token is a honeypot or not.
I already did everything on this page. So please don’t worry. All you do is click into any token you will see that is a honeypot token or not.
and here is an example for a honeypot token: Buy but not sell.
If you encounter the above case, you do not need to see more, run as quickly as possible.
2.2 Clearing liquidity – bringing token value to 0
A token when born must be more liquid for you – the investor to have the opportunity to buy them. Here the term add liquidity refers to this action. You think something like put on the floor for easy understanding. When Dev adds liquidity, in return they will receive an amount of cake LP tokens equivalent to the value they added. If the team still holds a large amount of this cake LP (over 90%), you should skip it or wait until this amount of tokens is locked or burned before deciding to invest. Because if they keep this amount of tokens, they can clear the liquidity at any time and bring the token value to zero and of course the amount of tokens you hold is no longer worth anything.
To see if the cake LP token is locked or not, in part 1 I have attached the poocoin link, you just need to click to see.
As you can see in the picture above, they warned in red that an unlocked wallet was holding 100% of the LP. This is very unfavorable for investors. To see more, click on the word “Holder”
and as you can see the correct greened wallet is holding 100% of the LP tokens. It’s really not good at all, right guys. And in this case, as I said, let’s wait for them to lock them, and then we have to invest.
In addition to the above two common cases, there are other rare cases that I will not analyze here. You can find more information on google.
Goodbye and see you in the next posts.