Advice from a "chicken" who has lost quite a bit of feathers 🐔:
Crypto market, a turbulent adventure! Recently, I spent my entire youth surfing in ecosystems with "strong" cash flow like SOL and Memecoin. Oh my god, this "pool" and that "scam" are springing up like mushrooms after the rain!
Typical scams in DEX, CEX and private 🤯:
1. Slow Rug - The most popular scam 😱
Lock Sell: Make a meme, shitcoin project and insert code for buyers to buy but cannot sell. Dev withdrew all liquidity from the pool.
Pump and Dump: The price increases, players pour money in to buy, then the devs withdraw all ETH from the LP, leaving behind worthless tokens.
2. Dev steals money 😤
Raise capital: Promising to issue superior tokens but it's just "chatter" and then "running away" with investors' pockets!
Presale scam: Deposit money to dev wallet, raise a lot of money but don't see the tokens, add fat liquidity and then "run away"!
3. Big projects are also Scam 🤡
Set elaborate traps: Seduce people to "get high" and then "let go" mercilessly. Pretending to have your money hacked while fattening your pocket enough to buy a car, a house, or a villa.
4. Category "raise fund then scam" 💸
KOL scam: They often "dream" up "magical" projects and take advantage of the reputation of famous people to "call for capital". Then, "spell" false statements or "overturn" the signed contract.
Some other forms of scam ⚠️:
P2P scam: Scams you into verifying, sending your Zalo number, then keeping your money frozen.
Fake exchange: Luring you to deposit more money to withdraw, the more you deposit, the more you lose.
Clickbait scam: Be careful when surfing Twitter and reading comments. Just one click and you'll lose your mood and lose money mercilessly!
Tips & Tricks - Safe "surfing" tips 🚀:
Check contract: Look sideways to see if there are any "holes", be careful of "black holes" sucking up all the money.
Check DEV: Check their "seniority".
DYOR carefully: Research the project carefully, don't rush to "throw money out the window".
Track DEV wallet: Surf the waves of the big fish.
Follow in the footsteps of KOLs: Follow in the footsteps of great gem hunters, KOLs, and good DEVs.
Play according to "genealogy": Check some old projects of legendary devs.
Play according to "vol": Small cap makes small volume, big cap makes big volume. 10-20% lottery for meme, shitcoin is enough.
Take profit by cap: Play altcoin, remember the $1m mark. Overcoming it is gradually closing, continuing to be 2m$, 10m$, 50m$. Split the peg, don't be greedy!
Final advice: Don't be "tricked like a donkey"! Stay alert and always be careful in all investment decisions. 🌟
#Write2Win #ETH #bitcoin #binance #StaySafeCrypto
