Be careful with coins from BEP20 which have a lot of supply !

[damsix]

I have really liked Binance since 2018 and until now I am still trading on Binance and I'm slowly making a profit.
Then yesterday the Binance IEO had Safepal which was designed for a multi-tasking wallet which would be a rival to Trustwallet, ImToken, Metamask, Tronlink etc.
But when I checked the blockchain from bep20, there were a lot of transactions that created large amounts of tokens and be careful, don't invest in these coins because there are so many scammers !!.

[masudginanjar]

Maybe it's better if we also see this as the best moment for scammers to take action because I see now the Hive for bep20 is very good.
So it reminds me of 2018, where a lot of ERC20 was created but ended up in a scam and it was very painful, just like now, be careful with bep20.

[Zed0X]

~ Then yesterday the Binance IEO had Safepal which was designed for a multi-tasking wallet which would be a rival to Trustwallet, ImToken, Metamask, Tronlink etc.

Yesterday? Did you just come out from your cave? The Safepal IEO was done last February if memory serves me right.

But when I checked the blockchain from bep20, there were a lot of transactions that created large amounts of tokens and be careful, don't invest in these coins because there are so many scammers !!.

Aren't you a bit premature with your conclusions? It looks like you haven't done your research well.

You think SFP's total supply of 500 Million is a lot? Then how about Uniswap's 1 Billion?

SFP has over 79,000 holders and out of the thousands of holders, there will be whales just like what you see in other coins/tokens (even BTC). Do you not invest in them too?

Lastly, Safepal has a working product and they continue to roll out features that will increase the token's demand. Read their Tokenomics.

[damsix]

-

Yesterday? Did you just come out from your cave? The Safepal IEO was done last February if memory serves me right.

Dude, This forum has very wide adoption, from various community , place and countries in this forum . So, maybe my "parable" is not understood by you.
Where I live if a project, a child is born, a job, a product manufacture or anything that discusses engineering, if it is done under 3,2 or 1 month it's still warm to talk about or you can say "yesterday afternoon".
Yes it is true, that Safepal was finished late February as you said, so that's why I said "yesterday afternoon".

But when I checked the blockchain from bep20, there were a lot of transactions that created large amounts of tokens and be careful, don't invest in these coins because there are so many scammers !!.

Aren't you a bit premature with your conclusions? It looks like you haven't done your research well.
You think SFP's total supply of 500 Million is a lot? Then how about Uniswap's 1 Billion?

Bro, What I am focusing on in this thread is not Safepal but what I discuss in this thread is the creation of a lot of BEP20 tokens that are created in a few minutes and this triggers a Scammer.
An example is like this: through airdrop news which only sends GAS bep20 to get new tokens but the GAS runs to the Smartcontracts token and it is the same as fraud.
We are looking for the Shit Token and the token maker gets GAS in the form of BNB BEP20. This is clearly fraud, danger!

For references making new tokens from BEP20 you can follow the Telegram channel here ---> https://t.me/BscNewTokens

Let's dance together , lol

[Zed0X]

Yesterday might have different interpretations in your local language but that's not the case in plain English. It's just one day ago. No other definition.

But when I checked the blockchain from bep20, there were a lot of transactions that created large amounts of tokens and be careful, don't invest in these coins because there are so many scammers !!.

Aren't you a bit premature with your conclusions? It looks like you haven't done your research well.
You think SFP's total supply of 500 Million is a lot? Then how about Uniswap's 1 Billion?

Bro, What I am focusing on in this thread is not Safepal but what I discuss in this thread is the creation of a lot of BEP20 tokens that are created in a few minutes and this triggers a Scammer.

Aren't you implying that SFP is also one of those scam tokens with a lot of supply that's minted out of thin air? If not, what's the connection? Why did you even have to mention Safepal and their IEO on Binance?

[damsix]

Yesterday might have different interpretations in your local language but that's not the case in plain English. It's just one day ago. No other definition.

Oh yes mate , you're right  and this is Sub-Forum global . And I wrongly wrote this thread in the global forum, I should have written it on the Indonesian Sub-Forum.

Aren't you implying that SFP is also one of those scam tokens with a lot of supply that's minted out of thin air? If not, what's the connection? Why did you even have to mention Safepal and their IEO on Binance?

I mean writing SFP in this thread is because I use a safepal wallet to participate in various airdrops using the blockchain from BEP20 (BSC).
Because the reason is simple, this Safepal Wallet supports the so-called token from bep20.

[Mist Joya]

I have really liked Binance since 2018 and until now I am still trading on Binance and I'm slowly making a profit.
Then yesterday the Binance IEO had Safepal which was designed for a multi-tasking wallet which would be a rival to Trustwallet, ImToken, Metamask, Tronlink etc.
But when I checked the blockchain from bep20, there were a lot of transactions that created large amounts of tokens and be careful, don't invest in these coins because there are so many scammers !!.

I have been trading in Binans for a long time and I have got good results from here. I hope I will get it in the future.  However, I have lost a lot of money by investing in B-20, so everyone who wants to trade or do will have a request not to invest in it because there are a lot of scammers.  If you fall into the hands of scammers, the chances of losing the invoice are much higher. Thank you.

[CyberAnonymous]

Maybe it's better if we also see this as the best moment for scammers to take action because I see now the Hive for bep20 is very good.
So it reminds me of 2018, where a lot of ERC20 was created but ended up in a scam and it was very painful, just like now, be careful with bep20.

how to avoid it and how to identify scammers, please help in detail.

[IyemRoker]

-

how to avoid it and how to identify scammers, please help in detail.

If I see references from this threaded conversation then I prefer to just go safe trading on Binance.com because Binance.com is a centralized trading platform that is safe and familiar to everyone.
To stay away from tokens from bep20, it's better if we don't buy tokens from BEP20 right away because it's very dangerous, it's better to buy coins in Biannce that are in the top 10 Coinmarketcap. Cmiiw

[Ten Ryuu]

I have really liked Binance since 2018 and until now I am still trading on Binance and I'm slowly making a profit.
Then yesterday the Binance IEO had Safepal which was designed for a multi-tasking wallet which would be a rival to Trustwallet, ImToken, Metamask, Tronlink etc.
But when I checked the blockchain from bep20, there were a lot of transactions that created large amounts of tokens and be careful, don't invest in these coins because there are so many scammers !!.

I also notice this kind of scheme.  Many that are newly listed n CMC under BinanceChain have huge token supply (1,000,000,000.000,000) and almost the same scheme as token burn, percentage return to holders etc.  It looks like they are just 1 group of people taking advantage of the decentralized exchange like pancakeswap and others.

[Review Master]

But when I checked the blockchain from bep20, there were a lot of transactions that created large amounts of tokens and be careful, don't invest in these coins because there are so many scammers !!.

I was planning to make a post about this , but looks like OP is one step ahead from me. This is a trend just like DeFi or NFT hype. BTW, it's started from SafeMoon ( As par i know and i might be wrong) which is an auto-generating liquidity protocol from all transections of it. Also, Safemoon team is public and their community is so much strong if we just see the follower count and engagement of their twitter account and it's pumped more than 50x from the lower price. After this, copycat of Safemoon started to appear in the crypto market which are are more risky ( though every projects are risky if anyone invest any amounts which he/she can't afford to lose). From my experience, i can only say that some projects are quite good and return huge ROI, but don't recommend to invest more than $10 in any of those.

[damsix]

It looks like they are just 1 group of people taking advantage of the decentralized exchange like pancakeswap and others.

Yeps mate , I have also written in this thread about the creation of the bep20 token which is almost 5 minutes, created easily, please check this telegram channel ---> https://t.me/BscNewTokens
Pancakes, Bakery, between these two I often witness very much support for coins (bep20) that have a lot of supply to continue to trade.

I was planning to make a post about this , but looks like OP is one step ahead from me. This is a trend just like DeFi or NFT hype. BTW, it's started from SafeMoon ( As par i know and i might be wrong) which is an auto-generating liquidity protocol from all transections of it.

DeFi,NFT,DEX indeed right now it is trending and surely all the money in circulation is running towards the 3 platforms.
I can't judge this the best or not at all because this is an opportunity to make a profit and stay away from the disadvantages of the best moments between DeFi, NFT and DEX.

For tokens, it is very crucial because a lot of my friends like trading the bep20 coin which has a large supply, please check below for proof of screenshots and congratulations to my friends who benefit from a lot of USD for coins originating from bep20. Becarefull dan Congrats !

[Review Master]

For tokens, it is very crucial because a lot of my friends like trading the bep20 coin which has a large supply, please check below for proof of screenshots and congratulations to my friends who benefit from a lot of USD for coins originating from bep20.

Congratulations to all who profit out their initial capital as most of these tokens are dumped a lot after circulating the tweet from #WARONRUGS about expected rugpull from safemoon deve as 50% of the LP tokens aren't locked or burned yet. ATM, it's almost sloved as safemoon team is made an announcement of locking those LP tokens.

BTW, i also hodl some of these tokens,but my investment is low compare to others and one thing should be remebered, "Invest those amount which you can afford to lose". 

[ice18]

For tokens, it is very crucial because a lot of my friends like trading the bep20 coin which has a large supply, please check below for proof of screenshots and congratulations to my friends who benefit from a lot of USD for coins originating from bep20.

Congratulations to all who profit out their initial capital as most of these tokens are dumped a lot after circulating the tweet from #WARONRUGS about expected rugpull from safemoon deve as 50% of the LP tokens aren't locked or burned yet. ATM, it's almost sloved as safemoon team is made an announcement of locking those LP tokens.

BTW, i also hodl some of these tokens,but my investment is low compare to others and one thing should be remebered, "Invest those amount which you can afford to lose". 

Honestly I cant believe that this kind of token which huge supply trusted by so many investors almost 1m holders in just 1 month of creation no any usecase and listed on cex also safemoon Im holding this one and I dont know if I have to take profit now or hodl kinda risky to hodl but who knows it will give us more profits.

[Review Master]

Honestly I cant believe that this kind of token which huge supply trusted by so many investors almost 1m holders in just 1 month of creation no any usecase and listed on cex also safemoon Im holding this one and I dont know if I have to take profit now or hodl kinda risky to hodl but who knows it will give us more profits.

Because of the auto LP adding system and distributing some portion of the fee to the hodlers, everyone is showing interest into this type of tokens. But all of this are shitcoins and nothing else. As bull season is going on, newbies are investing more into this type of shitcoins and gained profits, but it won't last long. So, it's best to profit out the initial capital just like me and hodl rest of those tokens if that survive than congrts, otherwise no regrets as initial captial is taken before the dump.