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Two Things To Know To Avoid Getting Rugpulled Or Lost Money From Newly Launched Tokens.

Many people, especially people who are just new to cryptocurrencies and investing, losses money simply because they were just a victim of "hype" from a crypto influencers who were paid to shill the project and didn't really gave time to know and understand about the project's vision. When things isn't going well (talking about the chart), losing small investors will just probably spread fud in the community while others are still in disbelief or denial and continue to believe in the project by reading positive comments in the community. Even though the project is dying and chart is showing it, people behind the the project will give false hope to its community and then dumped on them eventually. This article will serve as your guide to your degen trading journey and can probably save you from losing money as this a simple way of doing your own research and trading at your own risk. 1. Always Check The Liquidity and LP Lock. Everyone, especially new ones, should know the importance of having a good amount of Liquidity and how long the Liquidity of the token is lock. The Liquidity is consists of 2 tokens being paired, for example; BCH/BTC, ETH/BTC, BNB/BTC. If you look at it in a token from Binance Smartchain, let's says for example the token is $PFY being traded against $BNB, then the Liquidity pair should be PFY/BNB pairs. The bigger the Liquidity is in a token, the better it can give a trading price for you to buy or sell the token. It can give you the best price possible when there is a good amount of Liquidity to be traded. And of course, always look or ask where and how long the Liquidity is lock. The longer the liquidity is locked, the safer you can get in investing in that token. When the token is just lock for a few days, weeks or months, always be cautious and think thoroughly if it is worth investing. When the Liquidity of that token is unlocked, there is a high chance that the developers or team owning the token will remove the Liquidity and dumped it on the market resulting a rugpull. Always be cautious! 2. Check If There Is A Mint Function In The Token's Smart Contract. Let me use the new Play-To-Earn projects as an example for this one. Most people only use the chart (Poocoin, Dextools, etc) to know or see what is the total tokens circulating or available in the market in the new NFT game. When people saw that there is only a very few supply of the token, they instantly jumped into conclusion that this token will surely pump harder as they think that the lesser the supply is, the more demands it can get without knowing the other risks. Since the hype of Play-To-Earn is still around, new NFT game projects will surely be hyped by people and shillers and this is where the advantage take place for the developers of the project - mint new tokens and dump it on investors. When there is a mint function on the contract, everytime the price goes up and when everyone is buying, the team wallet will sell a bulk amount of tokens that was minted from the contract causing a big red candles on the chart. Then this is where everyone believing in the project to buy the dip while the devs are selling on every top. This is one of the causes why a price of the certain token can't go up easily especially when there is no buying pressure. Always know when to buy and to exit to avoid being a victim of this scam project. ***Bonus Knowledge.*** 3. Check If The Ownership Has Been Renounced. Ownership Renounced means that the developers has no longer access to change something in the token's contract. When the contract has not been renounced yet, the developers can; Change the buying and selling tax of the token. Enabled and disabled trading the token. Mint new tokens. And more. Final Say. Experienced investors says that losing money is easy than gaining even when doing DYOR while newbie thinks gaining money is easy without it and just rely on hype and shills. This is one of the worst ways to lose instantly in cryptocurrency. Always do your own research. *Image Source:* *Google*. https://www.google.com/search?q=avoid+getting+rugpulled&prmd=ivnx&sxsrf=AOaemvI0lH-9yW3lfjwpt-iBCw2HQCwrPA:1639390488379&source=lnms&tbm=isch&sa=X&ved=2ahUKEwi7stS9xeD0AhUCZt4KHci_CXMQ_AUoAXoECAIQAQ&biw=424&bih=714&dpr=1.7#imgrc=8A5Hu3UXjOxPTM *FIN*.

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