🚨 How to Identify a Scam Token in Crypto?
#scam #Token In the crypto world, new tokens launch every day — but not all are legit. Here are some important tips to help you identify scam tokens:
🔹 1. Check Team Transparency
If the project team is anonymous or you can't find their LinkedIn/online presence, it's a red flag. Strong projects openly showcase their team.
🔹 2. Review Website and Whitepaper
Fake or low-effort websites, whitepapers filled with buzzwords — these are all indicators of scams. If the whitepaper is copied or vague, be alert.
🔹 3. Is Liquidity Locked?
Often, scam tokens unlock liquidity and perform rug pulls. Check whether liquidity is locked or not — websites like DexTools or TokenSniffer are helpful.
🔹 4. Are Tokenomics Unrealistic?
If the project is keeping 90% of the supply or is designed only for whales, there is a higher risk. There should be healthy token distribution.
🔹 5. Social Media Hyper-Hype
If paid influencers are creating hype everywhere but there's no real use case, it could be a "pump & dump" scheme.
🔹 6. Is Contract Audit Available?
Is an audit report (Certik, Hacken, etc.) available or not? If the smart contract is not audited, trusting the project could be risky.
🔹 7. Community Behavior
If the community is only filled with "when moon?", "buy now" type messages and there is no constructive discussion, the project could be shady.
#Write2Earn #BinanceSquare 💡 Pro Tip:
Always do your own research (DYOR). If something seems "too good to be true", it probably is a scam.
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