Simple tips on how to avoid scam tokens
-Always check for social media red flags
-always check for the tokens in google search
-check the token in a token explorer or token price tracker
-Check the amount of liquidity in a tokens balance
-check third party analysis tools
Its so disheartening seeing Majority of people loosing their hard earned money to scam projects
Please let’s be careful and cautious out there
DYOR is very important
Please share to your loved ones, thank you
February 24, 2023, 7:29pm
Thanks for sharing
What matters to me in what you said about is
AND HOW SECURE THE LIQUIDITY OF THE PROJECT IS
SOME CRYPTO SOCIAL MEDIA ACCOUNTS MAYBE DECEIVING
You made very important point there.
It’s very important to check and know the usecase, or utility or the problem coin or token or Nft tend to solve.
This will help avoid investing money into pump and dumb scheme.
Another important point for me is tokenomics.
When it come to roadmap. It’s an important tools that shows the project plan, mission and its Way forward
Although, Roadmaps can be compromised or deceiving!!!
Finally,. Talking about
Social media influence,
I don’t follow this
I will add:
look at the website and read the white paper
Check if the whitepaper is an original or a copy paste from an other project. look if what they promise seems reasonable/doable (1% Daily return on investment for instance is totally unsustainable, promising big things on a small timeframe is not doable unless they have a big team and decent funds).
talk with the team and try to see if they know what they are talking about.
is the project going to generate revenues? Will those revenues benefit the community?
There is more but just some quick tips
February 26, 2023, 8:17am
Thanks for sharing this few tips
Additionally, A project whitepaper maybe be full of written fake or unrealistic plan.
It’s now in the DYOR as Individual or investor to check and highlight if the roadmap or whitepaper is ATTAINABLE.
I would also say on the
Revenue generation of a project, as this help to visualise how sustainable the project will be.
Hope my additional tips make some sense.
March 4, 2023, 2:50pm
Good bro, it’s short and easy to understand