Crypto : Process tip to find the next higp potential revenu token
The main part of the new cryptocurrencies are shitcoins, but it's still possible to spot the differnece between fake and real potential.
The rules to follow for a good start
- Start trading on the Binance Smart Chain (BSC). The transaction fees are very low. You can't do it on Ethereum blockchain where each transaction costs a huge amount of gas. There are other blockchain protocol where fees are low but nothing comparable with the BSC.
- During the first month, don't put to much money, invest small amout in each token. You will not become rich but at least you will avoid to loose everything.
- Be ready to loose everything. If you can afford it, don't start.
Now, let's find a token :
Go on the BscScan website on the "View BEP-20 Transfert" part. If the listing is unclear, don't worry. Look at the right column "Token". You are looking for those with a grey icon, next to the name of the token. That means the token is new. Established cryptocurencies have already there icon. Refresh the page avecry second, you will always findnew token.
Open the new token you are interrested in (new page). Now you have find a new token, let's investigate on it.
1. Holders
On the page look at the "Holders" column. The fatest holders should always been the liquidity pook whit generaly looks like “PancakeSwap : COIN” and the dead token wallet “0x0000000000000000000000000000000000000000dead”. Why is it important? That reduce the rug pull risk down to almost 0, mainly is the dead token wallet is over 50%.
Be aware ot the number of whales too. For example, 10 wallets holding each 3% of the overall supply is a big red flag. Abord immediatly!
A new token should also have at least 200 or 300 holders. If not! pass on it!!
2. Liquidity Poo
The Liquidity Pool is very important. Do not buy if the liquidity pool is not at least 30000$. Why? because scammers et real shitcoins rarely provide a liquidity pool with so much invest in it. Once more, we are looking to reduce the risk down to 0. You can copy the contract ID et go to poocoin to check "COIN/BNB LP BNB Holdings :"
3. Volume
Look at the "Transferts" section. If the token got only few transcations every 2-3 hours, stop here! un good figure for a new token should be at least 5-10 per minute.
4. Web, Twitter, …
Have a look on the website and the twitter /Telegram account of the token. If the token doesn't get them, stop here! Reddit page, discord, Instagram and even a Youtube pages are good signs.
5. Name and design
The logo of the token and its design of the graph and web site are very importants. If there are now appealing, people will not buy it.
Peace,
Nap