There are many tokens listed on Binance Chain, Only some of them are legit. So don’t lose your money by Rug pull and Rekt. SafeCrypto is the investors guide to choose the legit project.
Before make an investment in new projects Follow these steps with SaferCrypto.
- Check Website
- Purpose of Token /Coin
- Check Team
- Check Telegram (Active Community)
- Check Twitter & Other Social media
- Check Total Supply
- Check Liquidity Locked
- Check Tokenomics
- Check Marketcap
- Check Top Holders (Whales)
- Check Liquidity (%)On Dex
- Audit Report (ask for audit)
- Check Chart
- Buy On Red
- Sell On Green
- Don’t Buy In FOMO
- Don’t Sell In Fud
- Follow Market Sentiments
A rug pull is a malicious maneuver in the cryptocurrency industry where crypto developers abandon a project and run away with investors’ funds. Rug pulls usually happen in the decentralized finance (DeFi) ecosystem, especially on decentralized exchanges (DEXs), where malicious individuals create a token and list it on a DEX, then pair it with a leading cryptocurrency like BNB, ETH, BUSD
– ACCORDING TO COINMARKETCAP
REKT (or rekt) is an internet slang for “wrecked,” meaning severely damaged or utterly destroyed and ruined. However, depending on the context, it may mean something else.
In the crypto community, rekt often refers to someone who has experienced a heavy financial loss due to a wrong trade or investment.
Individuals who hold large amounts of coins of a certain cryptocurrency are known as whales in cryptoworld. As they hold large amounts of coins, they become powerful enough to manipulate the valuation of the said cryptocurrency.
Honeypots are smart contracts that appear to have an obvious flaw in their design, which allows an arbitrary user to drain ether (Ethereum’s cryptocurrency) from the contract, given that the user transfers a priori a certain amount of ether to the contract.