🔥 "How to detect and avoid fake currencies? (Complete protection guide)"
🚨 7 warning signs of fake currencies
1️⃣ No real team
- Verification:
- Look for developers on LinkedIn
- Check their accounts on GitHub
- Warning sign: Team images from "stock" or fake names
2️⃣ Unclear documents (weak whitepaper)
- What a good whitepaper should contain:
- A real problem the project solves
- Detailed technical plan
- Clear timeline
- Warning sign: Documents filled with promises without technical details
3️⃣ Low or inflated liquidity
- How to verify:
- Use CoinMarketCap or CoinGecko
- Check the real trading volume (24h Volume)
- Warning sign:
- Less than $1 million liquidity
- Most liquidity in one unknown exchange
4️⃣ Unrealistic profit promises
- Suspicious phrases:
- "Invest today and get 10x tomorrow!"
- "100% profit guaranteed!"
- The truth: There are no guaranteed profits in crypto
5️⃣ Non-sellable tokens
- How to detect it:
- Try selling a small amount before buying
- Check for high "Buy/Sell Tax" contracts
- Warning sign:
- You cannot sell (Honeypot Scam)
- Selling/buying fees over 10%
6️⃣ Fake community
- How to detect it:
- Check follower accounts on Twitter/Telegram
- Look for real discussions on Discord/Reddit
- Warning sign:
- Thousands of followers but low engagement
- Repeated comments or new accounts
7️⃣ Suspicious smart contract
- How to check it:
- Use BscScan or Etherscan
- Look for:
- Hidden functions
- Excessive powers for developers
- Warning sign:
- You cannot see the source code
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💎 5 free tools to detect fake currencies
1. Token Sniffer (checks smart contracts)
2. RugDoc (detects Rug Pulls)
3. PooCoin Charts (tracks liquidity)
4. DeFi Llama (monitors changes in TVL)
5. BscScan/Etherscan (checks transactions)
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🛡️ 5 golden rules for protection
1. Never invest in a coin without extensive research
2. Always start by buying a small amount for testing
3. Only use trusted exchanges (Binance, Coinbase, Kraken)
4. Beware of currencies promoted by suspicious accounts
5. Remember: If the offer is "too good to be true," it is!
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🌐 Remember:
"In the crypto world, knowledge is your only shield against scammers!"
#Protection_From_Scams #Fake_Currencies #Safe_Investment
