AMALTOKEN

It can be challenging to navigate decentralized exchanges, especially for those unfamiliar with cryptocurrencies or used to centralized exchanges. Decentralized exchanges require us to choose the correct crypto network, input the cryptocurrency address for new tokens, select the cryptocurrency for the swap, set the slippage ratio, and leave a certain number of coins for network fees without knowing the exact amount.
To simplify this process, we have developed the AMAL SWAP.
 
What is the AMAL SWAP?
The AMAL SWAP DApp is a smart, decentralized API that interacts directly with the PancakeSwap platform, making all procedures faster and simpler. To use the DApp, all you need to do is connect your wallet, specify the amount of BNB coins you want to swap or specify the AMAL tokens you want to swap for BNB.
AMAL and BNB can also be exchanged for USDC and vice versa.
 
Why did we create AMAL SWAP?
We have received numerous comments regarding the difficulty of using the PancakeSwap exchange. We want to ensure that everyone can buy and sell in the easiest and fastest way possible. Initially, we attempted to address this issue by utilizing decentralized exchange platforms such as Flooz and Change Now. However, we encountered several errors and difficulties with them. As a result, we have decided to collaborate with one of the most renowned companies in the Web3 field to develop our application instead of relying on the applications of other platforms.
 
How can I use the AMAL SWAP to buy AMAL?
To make a purchase using AMAL SWAP, first choose the appropriate crypto wallet (we recommend the Zerion wallet). Then, specify the amount of BNB or USDC you want to buy and connect your wallet to AMAL SWAP to complete the transaction directly.
If you choose to buy using USDC, please ensure you have a small amount of BNB to cover the fees for using the Binance Smart Chain network (BSC).
 
How does AMAL SWAP perform buying and selling tasks?
AMAL SWAP will initially connect your wallet to the BSC Network. After entering the amount of currencies you want to exchange, AMAL SWAP will display their exact value in USD. It will also automatically determine the appropriate slippage. Additionally, AMAL SWAP will leave a small amount of BNB in your wallet to cover future fees without requiring a separate BNB purchase.
The AMAL liquidity pool is fully deposited and locked indefinitely in the PancakeSwap exchange. This exchange exclusively interacts with the AMAL smart contract for buying and selling operations. AMAL SWAP will intelligently interact with the PancakeSwap platform to streamline the process.

#AMAL #swap #swap_crypto #USDC #accelerate

Imagine having a safety box filled with money, and you have ten electronic keys. Each key can open the safety box and is linked to its screen, displaying the value of the contents of the safety box.
The safety box in this example symbolizes the blockchain, and the keys represent the Private Key, which usually consists of 12 words. The screen that shows the value of what the safety box contains is the cryptocurrency wallet application.
Based on the previous example, the cryptocurrencies you own are not stored in the wallet, but rather in the blockchain. The wallet is like a smart screen that helps you monitor the value of your cryptocurrencies and also provides options for buying, selling, and exchanging cryptocurrencies, as well as for sending and receiving them.
 
Can the private key be used in a different wallet app than where it was initially created?
When you download a cryptocurrency wallet app, you will be presented with the options to either "Create a new wallet" or "Import wallet". If you choose the "Import wallet" option and enter the private key (password), you will be able to access a wallet that you have previously created in a cryptocurrency wallet app.
Example: You have created a wallet in the Trust Wallet application. This same wallet can be accessed in the Zerion application or the Binance Web3 application, allowing you to benefit from the features provided by the other applications.

After clicking the (+) sign, you can import the crypto wallet into the Binance platform.
 
Will opening the wallet in a new app cause the wallet to disappear from the previous app?
No, you can access your crypto using any advanced crypto wallet app, and all crypto wallet apps will work together without any issues.
 
What do I benefit from opening wallets in other applications?
Each wallet has its advantages and some potential disadvantages, which depend on how you use the wallet. For example, consider Trust Wallet or MetaMask. The value of AMAL will not be readily available until it is listed on multiple platforms. If tracking the value of AMAL is important to you, we recommend using the Zerion app to easily monitor the AMAL value and the USDC rewards you have earned. If you have an account on the Binance platform and want to buy or sell easily, opening a wallet in the Binance application would be a suitable option. This will also allow you to accurately track the AMAL value and conveniently transfer and receive cryptocurrencies directly from the platform.
It is important for you to know that you are the decision maker, and once you enter the private key (password), you will have access to all advanced wallet applications. You are not restricted to the wallet you used for the first time.
 
In conclusion, it is crucial to keep the private key in a secure location and refrain from sharing it with anyone for any reason. No one should have access to the private key to assist you. If you encounter any difficulties, please do not hesitate to contact us as we are always ready to help.

#CryptoWallet #TrustWallet #PrivateKey #WalletSecurity #web3_binance

AMAL is a decentralized cryptocurrency, and its price is determined by a mathematical equation governed by an Automated Market Maker (AMM).
Many analysts believe that for a cryptocurrency to reach a price of one dollar, there must be one dollar for each coin or token. Therefore, if the total supply of the cryptocurrency is one hundred million, the total purchase value must reach one hundred million dollars to reach a price of 1 dollar. However, this equation does not apply to AMAL or any other decentralized token that relies on an automatic market maker system.
 
Is it easy to determine the price of AMAL?
AMAL's price can be determined with greater accuracy than most cryptocurrencies for two reasons:
Add the maximum supply of AMAL to the liquidity pool in the decentralized platform. As a result, the Total Supply will always be equal to the Circulating Supply, a unique feature not applicable to most cryptocurrencies.AMAL is tied to the stablecoin USDC, which always equals $1, ensuring no price fluctuations for the AMAL coin.

How to determine the price of AMAL?
To determine the price of AMAL, the market maker divides the total value of USDC in the liquidity pool by the number of AMAL tokens available for trading. For example, at the time of writing this article, there are 44,370,305 AMAL coins and 46,059 USDC coins in the liquidity pool. Dividing the value by the number gives us the current price of AMAL.
As more USDC is added and the AMAL available for trading decreases, the price rises with each purchase. Conversely, the price decreases with each sale as AMAL is returned to the liquidity pool and USDC is withdrawn.
 
When can AMAL AMAL reach 1$?
Based on the previous equation, the price of AMAL will reach one dollar if the value of USDC purchases reaches approximately one and a half million dollars.
Can a humanitarian currency achieve this level of liquidity?
Some people may believe that the recent increase in cryptocurrency value is mainly because of meme coins, which arecryptocurrencies without any real purpose. However, the world of cryptocurrencies also includes many charitable tokens and coins that have achieved significant success and have amassed millions in liquidity.
For example, there is a charity token aimed at protecting a specific breed of dog, called Pitbull, which has surpassed $4 million in liquidity: Pitbull.
Additionally, the total cryptocurrency donations from 2018 until the beginning of this year have exceeded two billion dollars. It is estimated that there are approximately 580 million cryptocurrency investors worldwide.
What could accelerate the process of reaching the price of AMAL to one dollar?
1. Access to the central exchange:
The most influential factor in reaching $1 is to list AMAL on a reputable central exchange. Entering the exchange will bring numerous advantages, including:
Increasing the number of investors: The central exchange has millions of users, leading to a significant increase in investors.Marketing: These exchanges conduct unique marketing campaigns to promote the cryptocurrency as it enters circulation on their platform, introducing the project to a larger audience of cryptocurrency enthusiasts.Purchasing many tokens: To enter the exchange, a significant amount of AMAL, valued between $10,000 and $20,000, must be transferred. Since we don't currently have any crypto wallets containing this large quantity of AMAL, we will need to purchase this amount to prepare for the transfer. As a result, a large amount of AMAL will be removed from the liquidity pool and a corresponding amount of USDC will be added. This will cause a sustained increase in value, as the transferred tokens will not be returning to the liquidity pool.Price rise: Upon entering the central exchange, especially the first time, we will likely observe significant price increases. Our presence there is intended to support AMAL rather than drive down the price. As a result, we will all notice that the price of AMAL on the central exchange will be higher than on the decentralized exchange. When this occurs, we will see an increase in buying activity on the decentralized exchange, as traders aim to sell at a higher price on the central platform. Consequently, this will drive up the price of AMAL.Increasing the trading volume: There are paid services offered by exchanges to provide a smart market maker for achieving high trading volume, and we will do this to benefit AMAL investors.
2. Increasing the number of purchases in the decentralized platform:
The second reason that could increase the price of AMAL is an increase in the quantity of purchases on the decentralized exchange. When a token has strong fundamentals that convince the community to invest in it, this results in more purchases. The higher the quantity of purchases on the decentralized exchange, the higher the price of the token.
From this perspective, we believe that AMAL has many features that encourage the community to invest in it, including its humanitarian project, transparency, credibility, technologies, rewards for holders, and high level of security.
We are committed to doing everything necessary to support AMAL in this regard.
3. Decrease in the number of currencies:
When AMAL is sold, a smaller amount is returned to the liquidity pool. This happens because 1% of the buying and selling process is burned directly, and another 1% goes to a wallet that buys AMAL and burns it. As a result, the number of AMALs is constantly decreasing with each transaction.
This decrease in the number of AMALs, combined with the price determination equation mentioned earlier, leads to an increase in the price.
When will you join the central platform?
Currently, we have been approached by eight exchanges: Bitmart, MEXC, LBANK, XT, P2B, Toobit, Latoken, and Pointpay. However, we believe it's not the right time to get listed on centralized exchanges as AMAL is a decentralized currency. It's important to first establish a strong decentralized exchange foundation, increase the number of AMAL holders to thousands, and elevate the value of the liquidity pool. We anticipate that achieving these goals will take approximately a year from now.
Which central exchange will AMAL launch on?
We understand that the effect of launching on different cryptocurrency exchanges can differ. We are committed to selecting the most suitable exchange to ensure a successful AMAL launch. Our aim is for the first exchange to be ranked in the top twenty platforms according to Coin Market Cap and Coingecko.
Finally, with the cooperation and support of the AMAL community, we hope that transitioning to the dollar will be just a matter of time with our continued support for AMAL.

#AMAL #CryptoInvestmentOpportunity #GemsAlert #gemcoin #ProfitSure

Thanks to the numerous websites that assess token security, detecting fraud has become a simple and quick process. Before investing in any Token, don't hesitate to evaluate its security. A few minutes of research can help you avoid significant losses and confront scammers constantly creating cryptocurrencies to exploit and deceive others.
 
How can I determine the percentage of scams?
Simply copy the token smart contract address, paste it into reputable scam detection sites, and assess the result.
 
What  What are the best websites for detecting scams?
There are numerous websites, but some of them lack the necessary accuracy. The most important and accurate websites for detecting scams are as follows:
1. Token Sniffer
This is a well-established and reputable site that is known for its ability to detect token scams. It has been recognized by the U.S. Department of the Treasury and cited in Senate Banking Committee testimonies.

2. Stay Safu
The SAFU Scanner is a highly effective tool that enables a quick evaluation of the possibility of falling for a token scam. It analyzes the liquidity, smart contract codes, and token holders.
This scanner is utilized over 1,000,000 times each week.

3. Cyberscope
Cyberscope is a leading auditing company in the cryptocurrency field, offering a smart security scanner that thoroughly examines various aspects of a token, including security score, community size, marketing, and liquidity. The security score is important as it provides insight into the token's future potential.

4. QUICK INTEL
The QUICK INTEL scanner is a comprehensive tool that identifies potential issues related to a token. It provides warnings in red for serious concerns and cautions in yellow that should be carefully considered before investing in the token.

5. GoPlus
The GoPlus scanner conducts audits of all token transactions providing accurate assessments of the smart contract's security rating and the risk associated with the "Honeypot" scam.

 
Why is the reliability score of AMAL in security indicators high?
AMAL achieved a high safety score in the most important indicators for several reasons, with the most significant being:
The token operates on a smart contract that has undergone thorough audits by four reputable smart contract auditing companies.The liquidity of the AMAL token is 100% locked for an extensive period of 200 years.Renounce the smart contract ownership.AMAL is a token that prides itself on a fair launch, providing equal opportunities for all buyers with absolutely no preferential treatment, presales, or private sales.All AMAL tokens are currently in circulation, and no portion is held by the founding team, ensuring fairness.Avoided starting on centralized exchange.Our rigorous anti-whale technology safeguards against the accumulation of excessive AMAL tokens by any single entity.We are launching with substantial initial liquidity to prevent unwarranted and hyperbolic price fluctuations, upholding a stable and rational market for all participants.Verified contract source.

#SecureYourProfits #audits #CryptoScamAlert #SAFEtoken #security

It is estimated that cryptocurrency scammers stole $4.6 billion from crypto users and investors in 2023 alone. This corresponds to approximately 0.013% of the total transaction volume of cryptocurrencies in 2023.
Even though cryptocurrency is a relatively new trend, scammers are employing traditional methods to steal. Here are some common cryptocurrency scams to be aware of.
 
1. Bitcoin investment schemes
In bitcoin investment schemes, scammers contact investors claiming to be seasoned "investment managers". They promise their victims that they will make money with investments, using fake celebrity endorsements to make it appear as though the celebrity is promoting a large financial gain from the investment.
The scammers may also request an upfront fee and personal identification information, claiming it's to transfer or deposit funds, but then simply steal the upfront fees or gain access to a person's cryptocurrency.
The sources for these claims appear to be legitimate, using reputable company names such as ABC or CBS, with a professional-looking website and logos, but the endorsement is fake.
 
2. Rug pull scams
Rug pull scams involve scammers adding money into a new cryptocurrency, non-fungible token (NFT), or crypto presale. After investors deposit their money, the scammers withdraw all the funds and disappear, leaving behind a cryptocurrency or a token with no value.
 
3. Romance scams
Dating apps have become a common platform for crypto scams. These scams usually involve long-distance, online relationships where one party gains the trust of the other over time. Eventually, one party convinces the other to buy or give money in the form of cryptocurrency. Once the money is obtained, the scammer disappears. These scams are also known as "pig butchering scams."
 
4. Phishing scams
Phishing scams have been around for some time but are still popular. Scammers send emails with malicious links to a fake website to gather personal details, such as cryptocurrency wallet key information.
Unlike passwords, users only get one unique private key to digital wallets. If a private key is stolen, it is troublesome to change this key because each key is unique to a wallet. To update this key, the person needs to create a new wallet.
To avoid phishing scams, never enter private security information from an email link. Always go directly to the site, no matter how legitimate the website or link appears.
 
5. Man-in-the-middle attacks
When users log in to a cryptocurrency account in a public location, scammers can steal their private, sensitive information. A scammer can intercept any information sent over a public network, including passwords, cryptocurrency wallet keys, and account information.
Anytime a user is logged in, a thief can gather this sensitive information by using the man-in-the-middle attack approach. This is done by intercepting Wi-Fi signals on trusted networks if they are in proximity.
The best way to avoid these attacks is to block the man-in-the-middle by using a virtual private network (VPN) to encrypt the data being sent. Otherwise, avoid associating with public networks when you open a digital wallet using your private key. Fortunately, this key only needs to be used when creating the digital wallet or reopening it on a new device.
 
6. Cryptocurrency distribution
Many fraudulent posts on social media promise bitcoin giveaways, often using fake celebrity accounts to lure people in. When someone clicks on the giveaway, they are taken to a fraudulent site that asks for verification to receive the Bitcoin. This verification process often involves making a payment to prove the account is legitimate.
The victim can lose this payment or, worse yet, click on a malicious link and have their personal information and cryptocurrency stolen.
 
7. Ponzi schemes
Ponzi schemes involve paying older investors with the money from new investors. Cryptocurrencies are often used to attract new investors, but there are no legitimate investments; the scheme relies on targeting new investors to pay those who invested earlier. The main appeal of a Ponzi scheme is the promise of high profits with little risk. However, in reality, these investments are high-risk and there are no guaranteed returns. When the flow of new investments slows, the scammer won't have enough money to pay the promised profits, leading to the collapse of the entire Ponzi scheme.
 
8. Fake cryptocurrency exchanges
This topic is very important: it is necessary to choose cryptocurrency exchanges carefully. During this period, it has been observed that many crypto analysts and influencers support certain exchanges. Before investing, it's essential to do thorough research on these exchanges, as some influencers aim to earn commissions from them. We're not against this practice, but not all exchanges are safe. There are many fake crypto exchanges, some have been hacked, some have closed down, and others may make it easy to deposit funds but difficult to withdraw them, or even prevent withdrawals altogether.
Therefore, we highly recommend conducting sufficient research into an exchange’s reputation and legitimacy before entering any personal information.
 
9. Fake Crypto Wallets
A fake crypto wallet is a type of malware scam that scammers use to infect a computer and steal the user’s private key or password. To avoid falling victim to such scams, it's important to use reputable wallets with a long user history. If a wallet's website appears to resemble a well-known brand, it's likely a scam, and you should avoid it. App Authenticity: Always verify an app's legitimacy by examining developer information and reading user reviews before downloading. Look for inconsistencies or red flags that may suggest deceit.
Avoid Non-Official Stores: Stick to official app stores for downloads. These platforms offer better security measures and vetting processes compared to third-party stores, which may host malicious apps rejected by legitimate channels.
 
10. Upgrade your crypto wallet or platform
The crypto wallet or platform is essentially a software that needs to be updated periodically. The software is updated automatically through the Google Play Store or Apple Store. If any website asks you to click on a link to upgrade, please avoid doing so.
 
11. Token pre-sale scam
Cryptocurrency ICOs create more opportunities for scammers to access your funds. While cryptocurrency ICOs may seem profitable, they don't always reflect reality.
The concept of token pre-sale is based on the team's insufficient financial capacity to create the token and add enough capital to the liquidity pool for later token purchases. Creating a currency without adequate capital to support it raises concerns. The process of creating token ICOs is considered easy and low-cost, making it a preferred method for fraudsters.
Blockchain security firm Blockaid reported that 50% of recent pre-sale token launches on Solana have been malicious.
 
12. Cloud Mining
Platforms will market to retail buyers and investors to get them to contribute upfront capital to secure an ongoing stream of mining power and rewards. These platforms don't own the hash rate they claim to, and don't deliver the rewards after receiving your down payment.
While cloud mining isn't necessarily a scam, you must conduct thorough due diligence on the platform before investing to ensure that your money stays safe.

#CryptoScamAlert #cryptoscams #Cryptoscam #ScamAware #scamalart

Cryptocurrency rug pulls are unfortunately a common occurrence in the global crypto markets, resulting in billions of dollars of losses for digital asset investors.
 
What Is a Crypto Rug Pull?
A rug pull is a type of exit scam that involves a team raising money using investors and the public by selling a token only to quietly shut down the project or suddenly disappear, stealing the raised funds and leaving them with worthless tokens.
Rug pulls can be extensively orchestrated, with actors leveraging social media influencers and hype-generating campaigns to lure as many victims as possible. Some scams even use trusted key opinion leaders in the social space to gain trust. Others promise extremely high yields or offer exclusive digital goods, as seen in NFT rug pulls.
Crypto rug pulls can also occur when the project’s owners manipulate the value of a particular token or coin to deceive investors and subsequently draw off their investments. Fraudsters often attract victims with a sudden, sharp increase in the token’s value in a short period. Once the price peaks, the people behind the token sell it to generate a profit while leaving “investors” with steep losses.
 
Types of Rug Pulls
Rug pulls can generally be classified into “hard” and “soft” pulls.
Hard rug pulls are more severe and sudden, in which investors lose all their money within a short period of time. The soft rug pulls takes place over a longer period, as the cryptocurrency team gives investors a false sense of security while quietly carrying out their fraudulent actions.
Common types of rug pulls include:
Liquidity Pulls: When liquidity is removed from a token pool, causing the token’s value to dive due to a lack of buyers and sellers.Fake Projects: Scammers create seemingly legitimate projects, gather investments, and then disappear with the funds, leaving investors with worthless tokens.Pump and Dump: Fraudsters artificially inflate the price of a token through coordinated buying, only to sell their holdings at the peak and crash the value.Team Exit: The project’s team members suddenly disappear or exit, leaving investors with no support and a collapsing token.
 
Biggest Crypto Rug Pulls in History
Some scams left a mark in the industry.
OneCoin
OneCoin was a cryptocurrency-based Ponzi scheme promoted as a new digital currency that would revolutionize the financial world. The scheme was run by Ruja Ignatova, who claimed that OneCoin was backed by a team of experts and had a vast network of distributors.
However, OneCoin was never actually backed by anything, and the distributors were simply paid to recruit new investors. When the scheme eventually collapsed, investors lost over $4 billion.
Thodex
Thodex was a Turkish cryptocurrency exchange that was hacked in 2021. The hacker stole over $2 billion worth of cryptocurrency from Thodex users, and the exchange’s founder, Faruk Özer, then disappeared. Özer was later arrested in Albania in 2022.
AnubisDAO
AnubisDAO was a DeFi project launched in 2021. The project promised high returns to investors, but it was a rug pull. The developers drained the project’s liquidity pool and disappeared, leaving investors with nothing.
Uranium Finance
Uranium Finance was a DeFi project that promised to provide investors with exposure to uranium mining, but it was yet another rug pull. The developers of Uranium Finance drained the project’s liquidity pool and vanished, leaving token holders with heavy losses.
Squid Game Token
Squid Game Token was a scam cryptocurrency created in 2021, inspired by the popular Netflix series “Squid Game.” However, the token was a rug pull. The developers disabled the token’s ability to be sold and then disappeared with investors’ money.
 
Can AMAL teams Rug Pull the token?
When we claim that AMAL is a cryptocurrency built on transparency, credibility, and security, it's important to not just accept the slogans at face value. Instead, thorough research and scrutiny should always be conducted, whether for AMAL or any other crypto-asset. The factors that demonstrate the AMAL team's inability to engage in fraudulent activities are as follows:
100% Liquidity Lock
Withdrawing funds from the liquidity pool is a common practice for pulling the rug on cryptocurrencies available on decentralized platforms. However, AMAL's liquidity is 100% locked by a third party for 200 years, making it impossible to pull the rug by withdrawing other people's money.
Auditing the smart contract
Fraudsters who exploit decentralized platforms typically avoid having their currency's smart contract audited, as reputable audit companies would expose their schemes. However, the AMAL smart contract was thoroughly audited by Cyberscope, one of the world's leading audit firms, and received an excellent security score.
It's crucial not to rely on audit reports found solely on a cryptocurrency's website, as they could be manipulated. Instead, it's important to verify the audit results on the website of the auditing company.
KYC certificate
Fraudsters will not verify their identity because their goal is to take other people's money and escape without getting caught. The AMAL team takes pride in documenting data and obtaining a KYC certificate, which states that the team’s identity will be revealed in the event of rug pulling or any other fraudulent act.
Website, project roadmap, and white papers
The scammers who pull the rug do not work very hard. They create a simple and repetitive website and white papers copied from other projects. On the other hand, with AMAL, you will notice the effort put into every page of the site. There is care taken to explain all matters and develop an executable roadmap and white papers that are unique to AMAL. Additionally, the AMAL team publishes articles about the importance of fighting fraud, deception, and scams in the world of cryptocurrencies.
 
In conclusion, we hope that everyone reading this article will be careful when buying cryptocurrencies and assume the possibility of rug-pulling until proven otherwise. However, it's important not to lose hope in trustworthy cryptocurrencies, such as AMAL.
 #rugpullalert #RugPull #KYC #Fraud #cryptoscams

If you are in another country and need to convert your dollars to the local currency, you have a couple of options. You can go to one of the exchange offices available on the road and hand over your dollars to a person who may be familiar with. They will then count your money in front of you and give you the local currency in return. However, there is a risk of being deceived and receiving less money than you are owed. If you return to demand the difference, the office owner may not take responsibility as they claim to not be accountable for the money that left the office and you will be out of luck. Alternatively, there is a device located on the side of the road that allows you to exchange your dollars for the local currency. This device cannot carry out any fraudulent operations, and the amount of local currency you will receive is displayed before you insert your dollars. The exchange is governed by a smart contract that ensures fairness, and everyone can read it before making an exchange. This device, known as a liquidity pool in a decentralized exchange, has become a fairer option than the exchange offices with their potential for deceitful practices.
In the world of cryptocurrency, the situation is not much different from the example mentioned earlier. Bitcoin commenced trading in late 2009 at a price of $0.00099. On November 10, 2021, its price reached $68,789, which is more than 600 million times its initial price. Many major international companies and even some countries have decided to invest in it, even though no one knows the person or team that created this currency. The only information we have is that the founder of Bitcoin calls himself Satoshi Nakamoto. Despite no announcement from the creator or the team behind it, Bitcoin established trust to the utmost degree by laying the groundwork. This occurence is not limited to Bitcoin alone, as many cryptocurrencies have achieved great heights and are traded on the most important central exchanges, despite the lack of knowledge about the team behind them, such as Shiba, Rune, and Floki. On the other hand, some Arab tokens have dropped in value, despite everyone knowing the team behind them. Furthermore, the founder of one token stated on social media that the currency would reach a thousand dollars, and the founder of another token published a video clip in which he swore his token would reach one or two dollars (note: he deleted the video).
The transparency of a cryptocurrency is crucial to its success, credibility, and differentiation from other currencies. This is considered more important than knowing the names and data of the currency team. It helps to avoid criticism from analysts and experts. Additionally, the founder of a cryptocurrency must be responsible and avoid exaggerating or making mistakes in price expectations. They should also avoid making promises that cannot be fulfilled or are impossible to achieve. Failure to do so can harm the cryptocurrency's reputation.
The elements of transparency mentioned above are considered much more important than knowing the names and data of the currency team, as these elements will help the success of the cryptocurrency, its distinction and credibility, and spare it the expected criticism from analysts and experts. On the other hand, the founder of the cryptocurrency may harm it if he does not do his duty properly, or if he exaggerates or makes a mistake in the price expectations, or if he makes promises that are not fulfilled or are not possible to achieve at all.
When browsing our website, you will not see pictures or names of the currency team. This is because we prioritize the safety and privacy of our team members. Not displaying this information is based on the following justifications:
First: AMAL is a decentralized platform that is fully owned by the community. It operates with complete transparency and is able to function safely without any dependence on the founding team. As a result, there is no list of owners that need to share their data. As the community is the real owner of the platform.
Second: The process of creating the smart contract, filling the liquidity pool, presenting the smart contract for audit by competent companies, developing the website, marketing, and other related efforts have been and will be carried as volunteer work. The primary objective of all these efforts is to collect the maximum amount of donations to support orphans. We believe that volunteer work is a noble and humane principle, and it is even more valuable when the people involved in it remain anonymous.
Third: We want AMAL to be a symbol of supporting orphans and humanity, without any association with a particular region or culture. This is important because if we link it to a specific community, it may hinder our plan to make it a global digital currency. Successful digital currencies established in other regions don't have phrases such as "The first British currency" or "The first Japanese currency," and neither should AMAL. We believe that humanity, credibility, transparency, technology, and decentralization are universal values that everyone can relate to in the world of cryptocurrency, and that's what we will focus on.
Fourth:It's important to understand that simply knowing the team behind a cryptocurrency may not necessarily give you the means to reach them. For instance, if you want to take legal action against one of the Arab cryptocurrencies that was launched directly on a central exchange, knowing the currency team may not be helpful. This is because the companies behind these currencies are not located in Arab countries. Rather, they are registered in the Cayman Islands and Saint Vincent and the Grenadines, which are known for being top money-stashing destinations in the world. These companies often go to great lengths to help the wealthy hide their money.

        
To sum up, it should be noted that having a knowledgeable and trustworthy team managing a cryptocurrency is certainly not a negative thing. In fact, investors having knowledge of the team can establish a high level of trust and confidence in the cryptocurrency, which would ultimately benefit it. However, it is important to remember that the security and transparency of the cryptocurrency must also be proven through necessary measures.

An investor was exploring an investment market in search of investment opportunities. While walking around, he entrusted 100$ to a merchant. When he returned, the merchant had absconded with the deposits of all the investors, including his. The investor then deposited another 100$ with a different merchant after quickly reviewing the deposit contract, which had a fair interest rate. Upon returning to collect the interest, he found out that the contract allowed the merchant to alter the terms at their discretion, which resulted in the investors being deprived of their interest. He then noticed that three traders were calling out to buy shares of their respective companies on the stock exchange. He invested 100$ in each of the companies. After a while, he discovered that the traders had transferred all the purchase amounts of the shares to their bank accounts in the Cayman Islands and the islands of St. Vincent and the Grenadines. Next, he heard another merchant inviting everyone to buy one of his rare coins as he had only a hundred of them. The investor purchased several coins, but he later found out that the merchant had a large stock of this rare coin. Whenever he sold ten coins, he compensated the missing amount of stock. As a result, the value of the coin decreased, and it was no longer rare. Finally, he came across another trader who was seeking presale participation for his company. The trader withdrew all the money invested in the presale, leaving the company established without any capital. The trader then asked the investors to reinvest and buy shares.
The most important means of fraud and deception
All of the above-mentioned examples occurred in the world of cryptocurrency, where the most important methods of fraud, manipulation, and exploitation are summarized as follows:
Start directly at the central exchange:
Offering the cryptocurrency directly on the central exchange is not considered fraud or deception, but it is exploitation and appropriation of other people’s money, because the cryptocurrency team controls all the stock of the currency offered for circulation, and when the currency is available to buy on the exchange, the cryptocurrency team gets most of the buyers’ money, especially at the beginning of the trading, this will continue until the currency reaches a level where most buyers offer their currencies for sale, in which case there will be other sellers alongside the cryptocurrency team. However, the amount of profit achieved for buyers cannot be compared with what the cryptocurrency team, because the members of the team sell a cryptocurrency whose real value is zero, and the number of cryptocurrencies under their control is enormous, and whenever they enter a central exchange, they will send the currencies in the hope of selling most of it to the exchange buyers. Offering a cryptocurrency directly on a central exchange is not considered fraud or deception, but it is still exploitation and appropriation of other people's money. This is because the team behind the cryptocurrency controls all the stock offered for circulation. At the beginning of trading, the team will get most of the buyers' money. This situation continues until the currency reaches a level where most buyers offer their currencies for sale, at which point there will be other sellers alongside the cryptocurrency team. However, the amount of profit achieved by other investors cannot be compared with what the cryptocurrency team makes. The team is selling a cryptocurrency that has no real value, and they have a large number of other cryptocurrencies under their control. When they enter a central exchange, they send the currencies with the aim of selling most of it to the exchange buyers. The cryptocurrency team can carry out ill-considered sales operations when the price of the currency rises, which is considered to be a nightmare for investors. The price of the currency will fall quickly, and confidence in the coin will decrease. This situation will result in a loss for those who purchased the currency at a medium or high price. Unfortunately, it's unlikely that the price will rise again unless the currency owners return the funds they obtained at the expense of the buyers or if they can attract a large number of new buyers with greater purchasing power than the amount that was sold. In this case, there is no possibility of a return on investment.
Cryptocurrencies are usually created in decentralized systems, starting from the most significant currency, Bitcoin, to meme currencies that are created for fun. However, this does not imply that currencies created on decentralized platforms are always safe. A lot of things need to be checked to ensure their safety. If a currency is proven fair and safe, moving it to a central exchange can generate profits for all investors. But, there may be exceptional cases of the buyers’ funds being exploited in cryptocurrencies.
In the world of digital currencies, central exchanges depend on supply and demand, just like in the traditional stock market. This means that any price drop that occurs on the central exchange can cause a significant decline if there is no strong liquidity pool to support the currency in the decentralized system. However, the liquidity pool in the decentralized exchange can absorb and mitigate such drops in price.
Some may ask, how can a cryptocurrency be accepted by centralized exchanges like Whitbit or XT before the cryptocurrency community is built and there are thousands of holders with a high-value liquidity pool? The answer is that these platforms are not responsible for how the cryptocurrency was created and the credibility and seriousness of the team. Rather, there are fees that when paid, the currency is released on the platform. For example, these fees are about 20,000$ for the Whitbit exchange,15,000$ for the Hotbit exchange, and $7,000 for the CoinTiger exchange. Noting that this does not apply to the popular exchanges such as the Binance, as these exchanges are very selective, and their fees are very high. However, the above does not apply to cryptocurrency that have a large number of traders on the decentralized exchanges, as in this case the central exchanges automatically add them to the platform.
Some people may wonder how a cryptocurrency can be accepted by centralized exchanges like Whitbit or XT before the cryptocurrency community is built and there are thousands of holders with a high-value liquidity pool. The answer is that these platforms are not responsible for the creation of the cryptocurrency or the credibility and seriousness of the team behind it. Instead, some fees need to be paid for the currency to be released on the platform. For instance, the fees for the Whitbit exchange are around $20,000, for the Hotbit exchange they are $15,000, and for the CoinTiger exchange, they are $7,000. It's worth noting that this doesn't apply to popular exchanges like Binance, as these exchanges are very selective and their fees are very high. However, this also doesn't apply to cryptocurrencies that have a large number of traders on decentralized exchanges, as central exchanges automatically add them to the platform. Therefore, we place the process of starting a cryptocurrency directly on the central exchange at the top of the pyramid of means of exploitation.
Not locking the liquidity:
Investing in tokens directly on the central exchange is generally safe, as the tokens are held securely in the exchange's wallet. If demand for the token increases, its price can rise. However, it is considered a major mistake in the crypto world to deal with a token whose liquidity is not locked. This is because the token team can withdraw its liquidity at any time, resulting in all investors' funds being withdrawn (known as a "Rug Pull").
Liquidity must be locked permanently for all tokens available in the liquidity pool; simply locking liquidity is not sufficient. It is important to research and verify the duration and amount of locked liquidity.
Crypto wallet distribution:
All the cryptocurrency available in the liquidity pool may be locked for a long period. However, this alone is not enough to prevent fraudulent crypto distributions to the team's wallets, which can lead to a result similar to withdrawing liquidity (Rug Pull). Some crypto projects allocate large percentages to the team and/or the project wallets, which we believe should not exceed a maximum of 5%. Additionally, the team must provide clear justifications for how and when they use these wallets. The team's wallet must also be locked for a reasonable period of no less than five years. The crypto sent to the team wallets is considered free crypto without any cover, but it can be exchanged with the investors' money by swapping them in the liquidity pool. Using even 1% of the crypto in these teams' wallets can significantly reduce the price.
Therefore, one effective method of deception in the crypto world is the preferential distribution of cryptocurrency.
The possibility of creating new cryptocurrency:
When developing a smart contract for a token, it is possible to add a code that allows for the creation of new tokens at no cost to the owner of the token smart contract. These tokens can then be sold to investors without any effort or limit, resulting in potentially fraudulent activity. Therefore, it is crucial to ensure that this technique is not present when conducting an audit of a smart contract.
To detect this fraudulent method, one can go to the token contract page and examine the transactions. If an icon with "Mint" written inside it is found, this indicates the presence of this technology in the token contract. The image below provides an example of this "Mint" technology.

Presale:
The following text explains the Presale process in the crypto world and highlights the importance of transparency in this matter. The Presale is a common practice used to provide sufficient liquidity to the pool due to the lack of financial solvency of the crypto team. It is not considered fraudulent, but it can be characterized as such if the crypto obtained from the buyers is not transferred to the liquidity pool. In such cases, the buyers' funds are stolen for the benefit of the crypto team. The Presale process relies on a smart contract that manages this process and must include an equation to return buyers' funds if the number of cryptos required is not reached.
If the cryptocurrency is created in its blockchain (Coin), and the Presale is made to cover the cost of creating the Blockchain, the team must clarify the amount of money received and the expenses spent. An independent financial company should prepare a financial report to examine this process. The cost of creating blockchains and programs can start from $10,000 up to $1,000,000, depending on whether the system and codes are created from scratch or copied from previous systems. If the blockchain is based on the codes of previous systems, it will not be expensive. Therefore, doing a Presale to establish a blockchain is similar to a traditional Presale for a company's establishment. Clear financial reports will provide confidence and transparency in this matter.
In summary, transparency is crucial in Presale processes, whether it is for a "Token" or a "Coin", to ensure that the buyers' funds are not stolen, and the Presale provides the liquidity needed to the pool.
Private sale bonus:
Private sales are not considered fraudulent or deceptive, but they can create a gap between investors, violating the principle of equality between buyers that is essential for the cryptocurrency system to function properly. This is especially true for decentralized exchanges. If the cryptocurrency founders want to maintain equality and not favor one group over another, they should limit private sales to no more than 5%. Additionally, the funds obtained by the team through private sales should be added to the liquidity pool and not considered as a reward for them. Failure to do so could harm all investors. It is also important to lock the digital wallets that benefited from private sales, as these individuals obtained the cryptocurrency at a lower price and may achieve higher profits compared to the real crypto community that supports the project. Lastly, the crypto team should be transparent and share the addresses of all wallets that acquired the crypto during private sales so that real investors can easily analyze them.
Crypto trading pause:
In the world of cryptocurrencies, the idea of stopping trading is generally frowned upon and deemed as a cause for concern among investors. One of the most important aspects of trading in cryptocurrencies is the ability to freely buy, sell, and transfer crypto without any restrictions. Interfering with this process in any way is viewed as an infringement on the rights of investors, and it can also enable other forms of fraudulent activity.
Use Anti-Whale mechanisms in a harmful way:
Despite its benefits, the anti-whale function can be used in a way that harms investors. This technology allows for changes in ownership percentages if the contract is not relinquished. These changes can be made in a way that harms buyers and limits their trading freedom by excessively reducing the percentage, such as by preventing transactions that exceed 0.01% of the total supply. For this reason, most fraud auditing keeps the anti-whale function in the red box.
Use of the blacklist function:
The smart contract can implement a blacklist feature that prevents owners of listed wallets from disposing of their purchased cryptocurrency.
Not renouncing the smart contract:
We purposely brought up this point later, even though it's essential because if the ownership of the smart contract is not relinquished, there is a constant danger of introducing any fraudulent or deceptive means mentioned above. As a result, despite the significance of the previously mentioned points, they must be confirmed by surrendering ownership of the smart contract after ensuring that the contract is safe and its codes are error-free. It is preferable to give up ownership of the contract after having it audited by a trustworthy company.
Cryptocurrency currency imitation:
One common method of fraud involves creating a new cryptocurrency that closely resembles an existing one, so that buyers may mistakenly purchase it due to the similar names. For example, scammers may create a token named "AMMAL", "AMAAL", or "AMAL Token" to imitate the legitimate cryptocurrency called "AMAL". They then promote the fake cryptocurrency on social media to attract investors. To avoid falling for such scams, it is crucial to double-check the accuracy of the token contract address before purchasing tokens on decentralized platforms.
Misleading media:
There have been instances where founders of Arab tokens made unrealistic claims about the value of their cryptocurrency on social media. In one such instance, the founder of a token posted a video on Instagram, claiming that the currency would reach two or three dollars, and later claimed that it would reach a thousand dollars, but he would be willing to accept 10 dollars. Similarly, the founder of another Arab token also made claims that his token would reach a thousand dollars. Such claims are unrealistic, as the total supply of the first token is 10,010,600,000,000 and the total supply of the second token is 100,000,000,000. To put this into perspective, the amount of dollars available in the world is around 60 trillion, which means that fulfilling the founders' claims would require bringing in dollars from another planet.
This kind of exaggerated media content is exploitative, as some people may be influenced by such claims and invest their money in cryptocurrency with the hope of achieving significant financial returns. In some cases, social media influencers may be involved in this deception, where they receive money or cryptocurrencies in exchange for promoting the token and encouraging people to invest in it.
How to detect methods of fraud, deception, and exploitation?
The world of cryptocurrency is unique in that it is built on open sources, which means that it is impossible to conceal any fraudulent or deceitful activities, regardless of the skills of the currency team. This is because most things can be audited on the smart contract page of the currency. Even transfers that occurred during the Presale or Private Sales can be detected by reviewing the transactions made in the smart contract.
In this article, we have discussed the most common ways of deception and exploitation in the world of encrypted digital currencies. It is important for those who deal with these currencies to be aware of the risks they may face and to take measures to protect themselves from falling into the trap of fraud and exploitation.

#Crypto #AMALTOKEN #cryptofraud #CryptoScam #Token

In a village, there is a significant amount of wood (300 tons) that has been left abandoned. Because they do not use it, the wood has no value to the people living in this village. Three merchants made a promise to invest this amount in ways that would benefit the people of the village. The merchants used these woods for the following purposes:
The first merchant began by collecting money of the poor villagers receiving 100 tons of wood in return and promised them to trade in the wood and gain a fortune. Afterwards, the merchant worked together with one of the central markets in the neighbouring village and started selling wood. This was an easy opportunity to make money as there are no other competitors in the market. He then put 20 tons of wood on sale, which is a considerable amount, and people started buying it, but not in large amounts. So, he began contemplating his method, since the central market is based on supply and demand, and the presence of 20 tons of wood does not help in raising the price, therefore the solution is to reduce the quantity offered in the central market. The merchant decided to burn 30 tons of the quantity he had stored in the village. He later appeared in the media stating his great sacrifices in burning these quantities and that they were equivalent to huge amounts of money ($400,000). The price of the wood put on the market was not affected, due to the lack of value in the burnt quantity as it was abandoned and was not related to what was being offered in the market. In conclusion, burning the wood was just a marketing ploy that did not result in any tangible result.
The second merchant received a 100 tons of the wood, but he used a different method when burning the wood. He sent 20 tons to the market, just like the first merchant, but he didn't burn off the wood he owned. Instead, he went to the market and purchased 1 ton of wood, which he then burned. Buying this quantity and burning it resulted to a positive impact on the price of the wood which benefited everyone who invested in it. This method of burning is considered as an honest way to support the wood business, as purchasing wood leads to a reduction in the quantity available in the market, which benefits investors financially, but also leads to an increase in the price of wood.
The third merchant dealt with burning differently, as he set out to burn a certain percentage of the wood from the buying and selling operations. This burning is also considered to be an honest method that ensures reducing the supply of wood while increasing its price in a continuous and stable manner.

Using the same method as the first merchant is often applied when burning cryptocurrency, but it is considered an ineffective marketing trick (regardless of whether it is being offered on a central or decentralized exchange).This is because when the smart contract or the blockchain is created for any cryptocurrency, it is required to specify the number of crypto, and a wallet specified for burning can also be created (known as dead wallet) and the cryptocurrency sent to this wallet cannot be returned, and therefore they are considered as if they were actually burned. However, up to this moment, the burned crypto have no value at all, and does not cost the team anything. For example, it is possible to create 1000 crypto, burn 900, and then allocate 100 crypto in circulation, but the result would be the same if they has started with 100 from the beginning. The method of the cryptocurrency burning may have been done differently in the previous examples. For example, an amount of 100 cryptos are added to the liquidity pool, and the rest is distributed to wallets owned or managed by the crypto team, and then the team burns a number of these crypto after the trading has begun to manipulate the investors that are sacrificing their money, while dealing with worthless currencies like the abandoned wood. By not introducing more cryptocurrency in the future (more wood on the market in our example), there be harm avoided.
Dear reader, do not be affected by the fraudulent burning of cryptocurrency, and do not hesitate to check the wallet of the burnt contents that are handled by the crypto team. There are three methods that allow burning to be beneficial: first is burning the cryptocurrency after they have been purchased, second is using a function in the smart contract that burns a percentage of the buying and selling transactions directly, and finally you can use a function that burns cryptocurrencies automatically after purchasing them in the event of a decline in the price, and these functions are among the mechanisms in the AMAL smart contract.
#TokenBurn #BurnBabyBurn #Cryptoscam #BurningTokens #cryptoarticle

A merchant purchased one ton of rice from a field located in another country. He selected the type of rice and agreed on the price, quantity, and delivery date. Once the owner of the field received the payment, he replaced the rice with barley, increased the price, decreased the quantity, and delayed the delivery date. The merchant was surprised by this and filed a lawsuit against the field owner, but he found out that there was a provision in the contract that allowed the field owner to modify all the terms of the contract as he pleased.
In the world of cryptocurrency, ownership of the smart contract is crucial. If not renounced, it can lead to issues. For instance, suppose a trader decides to invest in a particular cryptocurrency. In that case, the trader would audit the smart contract and agree to the terms and rules set by the contract. These terms may include the inability to pause trading, prevent the creation of new currencies, put wallets on the blacklist, or change the percentage of fees in buying and selling operations, among others. Suppose the trader invests $10,000 representing 1% of the total supply based on these terms and rules. After a month, the trader may be surprised to find that trading has been stopped for a month, only to resume with an increase in the total supply from one billion to two billion currencies. This, in turn, leads to a decrease in the price of the currency. The anti-whale ratio may also change from 1% to 0.1% of the total supply, making it difficult for the trader to sell. Understandably, the trader may become upset and confront the crypto team. They may even warn others not to buy this particular cryptocurrency. In response, the crypto team may put the trader’s wallet on the blacklist and withdraw funds from all other buyers a week later.
This example is an exaggeration, but it clearly shows the privilege available to the team if ownership of the smart contract is not renounced.
What is meant by renouncing ownership of a smart contract?
Renouncing ownership of the contract means that the entity that created the contract loses control over it forever.
Renouncing smart contract benefits
Trust and Transparency: Renouncing a contract is an honest act that demonstrates trustworthiness. It confirms the project team’s commitment to a fair and decentralized system and ensures that the contract cannot be manipulated for personal gain.Ensuring the safety and security of the smart contract: The smart contract usually goes through a period of experimentation and testing before putting the cryptocurrency into circulation to ensure the safety of all technologies and the absence of any problems. A smart contract auditing company can be resorted to verify all of this, and after these procedures, the safety and security of the contract are proven. The best course of action for investors is to refrain from making any alterations to the contract since any modifications can lead to gaps or technical errors if not thoroughly scrutinized.Community trust: Investors in the world of cryptocurrencies and decentralized exchange often look at renounced contracts as evidence of a strong, trustworthy, and community-led project. Knowing that developers cannot interfere with smart contract functions will strengthen trust in the project.Prevent Rug Pulls: Rug pulls are scams in which project owners withdraw investor funds by manipulating the contract. Renouncing the contract (if liquidity is locked) ensures that such malicious actions are prevented, as project owners are no longer able to make unauthorized changes.
How can I verify the smart contract renunciation?
You must go to the currency contract page, then click on the “Contract” icon, then click on the “Read Contract” icon. You then must click on the “Owner” icon. Either you will get an address that looks like this (0x00000000000000000000000000000000000000dEaD) or you may get an address made up of different numbers and letters like this one (0x2a1a6d2DfB3DD4eE796A1058f08b7c242899Ba73). In the first scenario, the contract is renounced. In the second scenario, the owners can modify the contract.
If you come across the first address that indicates renunciations of the contract, it is important to ensure that there is no other contract hidden in the Contract Codes page which is located next to the “Read Contract” icon. You can verify this by checking if the phrase “Proxy” is absent from the page. If the word exists, then there is no point in renouncing the contract because the contract whose ownership is being renounced is controlled by another hidden contract. So, you will be dealing with a team of scammers who are putting in a lot of effort to trick you.

#AMAL #AMALTOKEN #smartcontract #scamriskwarning #FraudAlert

There are three islands in this story. The first island cultivates sugar cane and produces more sugar than the inhabitants need. The second island produces a lot of salt. The third island is located between the Sugar Island and the Salt Island. The people on the third island built three warehouses and stocked them with sugar and salt, which made trading between the two islands much easier. The commercial ships no longer needed to sail back and forth between Sugar Island and Salt Island. Instead, they could go to the third island. However, the warehouses on the third island didn’t have enough space for all the sugar and salt, so the contractors built giant warehouses on the third island and invited the merchants from both islands to deposit large amounts of sugar and salt. The merchants received benefits for facilitating the exchange process between the two commodities. But there was a problem with the security of the warehouses. Some of the warehouses were more secure than others, the degree of security is as follows:
The first store: The store has a strong lock that cannot be removed, which prevents the owner from accessing any amount of sugar or salt, except when carrying out exchange operations. The lock only allows the owner to access the specific quantity required for the operation, and once the operation is complete, the lock resets and remains locked forever.
The second store: It has a temporary yet strong lock that prevents the store owner from damaging its contents for five years, with an option to renew.
The third store: The third warehouse doesn’t have a lock, but it contains higher levels of salt and sugar than the first and second ones. This is because the store owner has advertised it extensively and many social media influencers have spoken about its accuracy and usage of the latest security systems.
One day, the merchants woke up to find out that the owner of the third store had fled with all of the goods. Five years later, the same thing happened with the owner of the second store. However, the first store always operated without any issues.
In the world of cryptocurrency, it’s extremely risky to purchase a token on a decentralized exchange if its liquidity has not been locked. Before investing any amount in any digital currency, you must ensure that the tokens’ liquidity is locked. This is important regardless of the honesty, fame, or reputation of the currency’s founder. Failing to lock liquidity puts all buyers’ funds at risk of being withdrawn with the push of a button. This is a malicious tactic known as a ‘Rug Pull’, during which the cryptocurrency team abandons the project and runs away with investors’ funds.

What What is meant by locking the cryptocurrency liquidity?؟
It is when a cryptocurrency owner locks their assets on a decentralized platform, and they are prevented from withdrawing the liquidity for a specified duration and amount.
Liquidity lock advantages:
Increased investor’s confidence and trust: A cryptocurrency with a locked liquidity creates a feeling of security.Currency price stability: Having a locked liquidity pool helps stabilize currency prices by providing a stable base for trading.Enhance project reputation: Projects with locked liquidity tend to be viewed more favorably in the cryptocurrency community, as they demonstrate transparency and dedication to their investors.Attracting new investors: Conscious investors limit their investments to projects with locked liquidity and are attracted to them.
How can I ensure the liquidity is locked and the duration of the lock is true?
To check if a digital currency is locked, there are two methods. The first method involves visiting the smart contract page of the decentralized platform where the liquidity pool was created, such as Pancakeswap. Then, click on the Holders box and look for an address with a contract icon next to it. If the contract icon is present, click on the address and look for the expiration time of the lock on the Contract page. If that is not available, search in the transactions field for a transaction with a Lock token icon next to it and click on the title of that transaction. Then, click on Logs at the top of the page to find the Unlock Time, which shows the duration of the lock expiration. After obtaining the number of seconds, convert it to a date using a website that can do so.
The second method is to enter the smart contract address on cryptocurrency websites like dextools.io to check the reliability of the currency and if the liquidity pool is locked.
When a cryptocurrency team locks the liquidity, they usually announce it on their website and social media. Investors should review the lock certificate and visit the website to find out the percentage of currencies whose liquidity has been locked and the duration of the lock. Once investors have confirmed that all liquidity has been locked permanently, they can move on to inspecting other important aspects.

#AMAL #AMALTOKEN #Cryptoscam #cryptofraud #scamriskwarning

There is an archipelago consisting of numerous islands, each with its own currency. The value of these currencies fluctuates based on supply and demand, except for two currencies that have a fixed value and are accepted on all islands. The success of these two currencies is due to the presence of a stock of gold for each of them. However, there is a problem with transparency and credibility regarding the amount of gold in stock. While the first currency provides clear information about its gold stock, the second currency is less reliable due to manipulation of the gold stock needed to cover the distribution of the currency. As a result, islanders are turning to the first currency and abandoning the second one.
The first currency in the above example is USDC, while the second currency is USDT.
USDC is the safest stablecoin among all
USDC is a highly secure stable coin that is linked to the US dollar at a 1:1 ratio. Every unit of this cryptocurrency in circulation is backed by a corresponding amount of one dollar held in reserve. The reserve amount consists of a combination of cash and US Treasury short-term bonds. This makes USDC one of the most reliable and stable digital currencies available.
Why is USDC considered the safest of all stablecoins?
USDC is considered the safest stablecoin due to its transparent practices. Monthly attestation reports are published openly, providing a clear overview of the reserve backing it.
In addition to the above, USDC undergoes annual audits of its financial statements, adhering to the certification standards set by the American Institute of Certified Public Accountants (AICPA).
What’s the issue with USDT?
Tether, the company that issues the USDT cryptocurrency token, has acknowledged that the currency is not fully backed by the US dollar, and the company has never conducted a professional audit to verify its reserves. The reserves currently consist of cryptocurrencies that have fluctating prices, and Tether has also made loans to other parties using these reserves.
Additionally, many investors who own USDT are concerned about the lack of transparency and accountability in Tether’s internal operations. The company has not made significant efforts to make these workings public, leading to accusations that USDT is being used to manipulate Bitcoin’s price and launder money from criminal activities.
If Tether fails or is shut down, USDT tokens become worthless without a way to recover associated dollars.
The reason for linking AMAL with USDC
While chances of USDT falling are still low, numerous analysts have started discussing this possibility. Decentralized exchanges have also begun relying on USDC instead of USDT. Given the importance of ensuring security for all those involved with AMAL, we have made the decision to base the liquidity pool on USDC.

#AMALTOKEN #AMAL #USDT #USDC #Stablecoins

There is an induvial who wishes to invest their money by purchasing a gold bullion. After buying it from the gold market they will have two different ways they can store it, which are:
The first option: When buying gold bullion, it is possible for the buyer to leave it with the merchant who offers the option to exchange it for money or other metals. The merchant will store the gold bullion in a safety box at their store, but it may be vulnerable to theft by gangs due to the high quantity of precious metals present along with it. Additionally, the safety box may be at risk in case of a natural disaster. There is also a possibility that the merchant may act deceitfully and mishandle the precious metals. In the worst=case scenario, if the merchant declares bankruptcy, it could put all investors’ assets at risk.
The second option: Once the buyer purchases the gold bullion, they take it to their home and put it in a special safety box. This safety box can only be opened by the buyer with a private and secret key. The key is used to sell the bullion or transfer it to another person. The safety box also has a public key that can be shared with others. However, sharing the private key can be dangerous because it can give unauthorized access to the safety box and the bullion inside. The public key, on the other hand, allows others to see the history of the bullion that was stored in the safety box.
So technically, in option one, we store cryptocurrencies in a centralized exchange wallet, whereas in option two, we store them in our wallet.
What does a crypto wallet mean?
A cryptocurrency wallet is a software application or a device that enables users to interact on a blockchain. This type of wallet provides a secure storage for cryptocurrencies or non-fungible tokens (NFTs) and also facilitates sending and receiving of these digital assets.
The first-ever crypto wallet was used by the founder of Bitcoin, Satoshi Nakamoto, while the second one was used by Mr. Hal Finney. Both wallets were operated on the Bitcoin application, and a test of 10 Bitcoins was sent using this process. This is considered the first-ever instance of sending encrypted digital currencies in history.
A crypto wallet is a tool that enables individuals and institutions to collect and use cryptocurrencies for various purposes. It is just like a bank account that is necessary for fiat currency. The wallet also plays a crucial role in making crypto assets and currencies functionally useful.
Thanks to modern crypto wallets, blockchain technology has become accessible to everyone. Before, sending cryptocurrency was a manual task that involved entering long keys. However, today, applications handle most of the tasks and cryptocurrency wallets are considered a safe and convenient way to store digital assets and conduct transactions. They are also the perfect choice for preserving, controlling, and trading digital assets quickly, easily, and securely. Without a crypto wallet, it is not possible to connect to decentralized applications (Web 3.0 dApps).
The most popular types of crypto wallets
Cryptocurrency wallets are operated through applications that require an internet connection to access the blockchain network for the encrypted digital currency that we wish to deal with. These wallets can either be in the form of a smart application, available to work on the phone or as an extension in the Google browser, or in the form of flash memory. The wallet that is connected to the internet is known as a “hot wallet,” while the wallet that is not constantly connected to the internet is known as a “cold wallet.” In the case of the first wallet, it is called a “software wallet” because it exists in an application without having a physical entity. In the case of the second wallet, it is called a “hardware wallet” because it exists in a tangible physical entity.
Is the digital currency stored inside the wallet?
Like the bank card in your wallet, encrypted digital currencies are not physically present inside the wallet whether it is a “Software Wallet”, “Hardware Wallet”, “Hot Wallet”, or “Cold Wallet”. These currencies are securely stored in a specific blockchain, which only allows the owner of the wallet to access and use them. Just as the bank protects the money in your account, the blockchain protects the digital currency in your wallet.
Therefore, cryptocurrencies are not physically stored in a wallet. Instead, they exist as pieces of digital data stored in a database. So, when you access your wallet using your public address, the app interface retrieves all the data associated with it and displays your holdings.
What is a public key and a private key?
The crypto wallet’s operation is based on two keys, namely the public key and the private key. Both keys are necessary to access and dispose of the cryptocurrency. The wallet is responsible for maintaining the private key, which acts as a passcode to allow transactions. On the other hand, the public key is stored in the Blockchain database.
In simpler terms, the public key is like a phone number enabling communication, while the private key is like a password that allows access to the phone to make calls.
The simplicity of sending and receiving digital currencies
To send and receive funds like bank transfers, we will require an International Bank Account Number (IBAN). Similarly, when it comes to digital currencies, we need to provide our wallet address (public key) to receive currencies, and the beneficiary’s wallet address to send currencies. Moreover, many wallets come with QR codes that integrate Near Field Scanner technology, which allows users to scan the code instead of copying and pasting the public key.
Crypto wallet security
It is essential to obtain the password for your cryptocurrency wallet (private key) to access your digital assets. The wallet itself is secure, but the risk lies if your phone or computer gets hacked, and the hacker gains access to your password and other information. Therefore, it is crucial not to store your wallet password (private key) on your electronic devices. Moreover, you should avoid carrying out any wallet transaction on suspicious sites that offer free coins (Airdrop) or a rewarding presale. Approximately 55% of fraudulent operations occur through this scam method. There are applications available that can warn you when your wallet gets close to such scams.
If you suspect that your private key has been compromised, it is crucial to create a new wallet and transfer your encrypted assets to it. Creating a new wallet takes only a few seconds, and transferring assets is a simple and fast process.
Is owning a crypto wallet in the world of digital currencies considered common?
The number of digital wallet users in 2023 reached 84.02 million, and the number continues to rise.

#AMAL #AMALTOKEN #CryptoWallet #TrustWallet #CRYPTOARTICLES

You have a kilogram of pomegranates and you want to exchange them for half a kilogram of grapes. To do this, you can visit the central market, which is a traditional market that has many fruit stores. However, not everyone is allowed to enter this market as you need to be a member to do so. If you are a member, you can ask one of the stores to exchange your pomegranates for grapes. But the store owner may only give you grapes if there are other customers who want to exchange grapes for pomegranates.
On the other hand, there is another market that operates automatically without any human intervention, called the Automated Market Maker. When you input the number of pomegranates you have, you will receive grapes in seconds, whose quantity will depend on the fair price according to the quantities available in this store. No merchant runs the store, and entering this market doesn’t require any membership. No store in this market can know your identity either. You are currently using a Decentralized Exchange (DEX) instead of a Centralized Exchange (CEX). The DEX operates differently from the CEX, as it is governed by smart contracts that automatically execute transactions without human involvement. Additionally, there are no intermediaries or mediators involved, leading to lower transaction fees. As a result of the transparency of the DEX, every transaction is recorded and viewable by anyone. If the shop owner resorts to fraud, manipulation, or exploitation in this market, it can be detected through many means. In our example above, the exchange process between the two goods (Swap) is carried out under a Smart Contract that contains rules to manage all operations. Everyone can review this contract and see the conditions and guarantees before performing the exchange. For instance, you can get half a kilo of grapes for the kilo of pomegranates you have, and after a while, if grapes become low, you can return and receive ten kilos or more of pomegranates. This is the idea of decentralized platforms in brief.
In recent years, centralized exchanges have faced a number of bitter events, such as the collapse of the FTX exchange, the fall of the Terra Luna, and the exposure of many centralized exchanges to hacking. As a result, many cryptocurrency investors have started searching for alternatives. This is where decentralized exchange comes into play. Decentralized exchanges have emerged in the past six years to challenge centralized exchanges. They aim to offer lower transaction fees, allow users to hold their assets directly, and avoid some regulatory and procedural burdens when compared to traditional financial transactions on centralized exchanges that are managed through intermediaries. Transactions on decentralized exchanges are executed directly, which provides complete transparency in the movement of funds and exchange facilitation mechanisms. Moreover, the investor’s funds do not pass through a third-party cryptocurrency wallet during trading, which reduces the risks of systemic centralization in the cryptocurrency trading system.
Currently, there are around 370 decentralized cryptocurrency exchanges according to the Coingecko website. However, the top ten platforms account for more than 75% of the total trading volume. In 2023, the best decentralized platforms are:
According to the Coingecko website, there are currently about 370 decentralized cryptocurrency exchange, but the top ten platforms account for more than 75% of the total trading volume. The best decentralized platforms in 2023, they are:
Uniswap: The most popularCurve: Best for stablecoins1inch: Best in terms of the lowest pricePancakeSwap: Best for Binance Smart ChainDydX: Best for traders looking for more options with more risk
It is worth mentioning that the AMAL liquidity pool has been established on PancakeSwap, which is considered the third biggest decentralized trading platform in terms of trading volume and the first in terms of the number of cryptocurrencies.

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