How to remain safe from rug pulls in crypto?
To avoid becoming a victim of the top rug pulls in cryptocurrency, you need to take several steps to safeguard yourself.
First, avoid trading tokens on decentralized exchanges unless the official project has shared the contract address of the token on its social platforms. Even after that, you should look into the project’s liquidity and see if a few wallets aren’t holding most of the supply, as that is a clear indication that a project can dump its tokens on you anytime it wants.
Also, if tokens are listed on centralized exchanges make sure to read their fundamentals and any changes to their overall supply, as increasing token supply can significantly affect a token’s price.
All in all, it is very important to do your research to avoid being involved in the next big rug pull in the crypto world.
