Don't trust easily all BSC tokens

[sery2013]

It is easy to create fake tokens on binance smart chain at a small fee. Without proper analysis, we shouldn't buy any new tokens which are providing huge offers. Before investment, we should check audit, project purpose, roadmap, team members and legality of the project.

[EthereumDev_]

There are some investors who cannot tell the difference between the BSC platform token and the token listed on the Binance exchange. There is a class of investors who think that bsc platform token means that token is listed on binance exchange. They invest with such misconceptions in their minds and after investing, when they wait for the profit, they find that they made a mistake in their investment and chose the wrong coin. The BSC platform has many tokens that have not been successful and there are many coins that investors have invested in but investors have been cheated by investing in all these coins. So before investing we must be sure and then invest.

Investors like that don't have much experience, so they still can't determine whether the token's network is supported by Binance or not. As long as the token has direct support from the Binance platform, it will give very good results and make a lot of profit for its supporters. Investors must learn the differences. This is to stay safe when investing in a new project.

[bayu7adi]

It is easy to create fake tokens on binance smart chain at a small fee. Without proper analysis, we shouldn't buy any new tokens which are providing huge offers. Before investment, we should check audit, project purpose, roadmap, team members and legality of the project.

Those parameters aren't as strong of a good benchmark to influence our decisions now. Nowadays, I prefer liquidity, project development, competitiveness, major investors joining in, and supportive exchanges. We can't rely too much on some plans, but we can focus more on implementation.

Many cryptocurrency-based projects end badly these days. We need something more valid and proven, not just plans.

[NikeFit_7777]

I guess stupid things are attractive hence people flood into shitcoin for quick gain and also quick loss lol

The thing is that scammers (they started to create so qualitatively), at a glance and do not distinguish the real token or scam. What to say if experienced users fall for the tricks.

P.S. Will it be the user's fault if he sends coins to the wrong address (but to the scammer's address)? My advice, in this network it is better to double-check everything several times. Or else, alas, there will be unpleasant situations, the outcome of which will be the loss of money. And in those situations, there will be no one to help. Law of meanness, if the network is convenient for everyone (small commissions) = there will always be crooks. 

[EthereumDev_]

Those parameters aren't as strong of a good benchmark to influence our decisions now. Nowadays, I prefer liquidity, project development, competitiveness, major investors joining in, and supportive exchanges. We can't rely too much on some plans, but we can focus more on implementation.

Many cryptocurrency-based projects end badly these days. We need something more valid and proven, not just plans.

In fact, to have liquidity, you must have a product that is useful for many people, because when a project develops a product that is not useful, it will not have liquidity because it does not have enthusiasts who can provide a good price. Liquidity will increase when many people use the product being developed.

[Uruhara]

It is easy to create fake tokens on binance smart chain at a small fee. Without proper analysis, we shouldn't buy any new tokens which are providing huge offers. Before investment, we should check audit, project purpose, roadmap, team members and legality of the project.

Yes, that's right. In fact, many projects completely copy the whitepaper, token name and other things from the original project. So it has become commonplace that when there is a good project on this network, it will be followed by fake tokens with names similar to the original project token. I hope beginners are more careful. Because I still see many users who sometimes mistakenly buy tokens with the same name but different contract addresses. Usually this happens a lot with DEX.

[NikeFit_7777]

Some very interesting news has come out. Who keeps funds in the BNB Beacon Chain (BEP2) network. It will be useful to you:

"Binance will close the BNB Beacon Chain (BEP2) network in the coming months."

Here is the news link: https://twitter.com/binance/status/1755444966908928236

[damsix]

It is easy to create fake tokens on binance smart chain at a small fee. Without proper analysis, we shouldn't buy any new tokens which are providing huge offers. Before investment, we should check audit, project purpose, roadmap, team members and legality of the project.

Today's hackers are terrible, they are smart and we have to be smarter than them.
The position you describe is also true and many in my local community are caught in the same trap you stated.
Initially they participated in the AB airdrop but what was sent was a CD token, after checking on Pancakeswap it could be exchanged for BNB, maybe only 1-2 USD.
With a lot of wallets, for example dozens of wallets collected, the value is definitely good and large, but unfortunately one day the wallet will be hacked, as a result of trading on Pancakeswap due to interactions with Smartcontacts. So bad !

[Bitcoin_people]

At present, the import of BSC tokens is seen in the market, due to which the projects become more scams. That's why all BSC platform projects should not be trusted and should not be invested as you can lose your money for sure. All the projects that are brought from BSC platform are made only because of small transaction fees and here a project is easily succeeded with little cost. And when such a project goes to a good stage then that team leaves with more money and once the project dies later investors face a lot of loss from here so such projects should not be trusted.

[legend45]

In fact, many projects completely copy the whitepaper, token name and other things from the original project. So it has become commonplace that when there is a good project on this network, it will be followed by fake tokens with names similar to the original project token. I hope beginners are more careful. Because I still see many users who sometimes mistakenly buy tokens with the same name but different contract addresses. Usually this happens a lot with DEX.

Most newbies are easy to cheat due to lack of experience.  Many projects are scams, as you said many projects completely copy the whitepaper, token name and other things from the original project , scammers will use various methods to cheat, we have to be careful.  Not only in BSC tokens, but in every where

[yohananaomi]

Most newbies are easy to cheat due to lack of experience.  Many projects are scams, as you said many projects completely copy the whitepaper, token name and other things from the original project , scammers will use various methods to cheat, we have to be careful.  Not only in BSC tokens, but in every where

Because the BSC network is the most widely used, so it is not impossible that many frauds will target this network. But we can't really blame it, because now fraud has become a source of livelihood for enrichment. Even though maybe a few people can be fooled, if you do it often, there will certainly be lots of results.

Fraud is now structured and very massive, not just copying and pasting other projects, with WP alone, but everything is the same. It's not surprising that many people who are not aware will fall into the trap. You are right that fraud is not only carried out on the BSC network, but almost all networks are also committed.

[therozaq]

Because the BSC network is the most widely used, so it is not impossible that many frauds will target this network. But we can't really blame it, because now fraud has become a source of livelihood for enrichment. Even though maybe a few people can be fooled, if you do it often, there will certainly be lots of results.

 Yeah, we must always be careful. I think not only in BSC network, scammers will always be everywhere. BSC is very popular and uses it a lot, that's why there are a lot of fraudsters there. Many fake koin and fake project, that scam many newbies.

[Aanuoluwatofunmi]

It is easy to create fake tokens on binance smart chain at a small fee. Without proper analysis, we shouldn't buy any new tokens which are providing huge offers. Before investment, we should check audit, project purpose, roadmap, team members and legality of the project.

Those parameters aren't as strong of a good benchmark to influence our decisions now. Nowadays, I prefer liquidity, project development, competitiveness, major investors joining in, and supportive exchanges. We can't rely too much on some plans, but we can focus more on implementation.

Many cryptocurrency-based projects end badly these days. We need something more valid and proven, not just plans.

I also don't see if there is any control measures to help in dealing with some of these unrealistic crypto projects pumping in everyday, these are part of the reason to why we are having increasing numbers of scam and loss of funds in shitcoins, you cant imagine an exchange listing more than three coins a day and all were shitcoins, maybe tits time that the regulatory bodies shoukld be more effective than ever in discharging thier duties.

[elbans89]

I also don't see if there is any control measures to help in dealing with some of these unrealistic crypto projects pumping in everyday, these are part of the reason to why we are having increasing numbers of scam and loss of funds in shitcoins, you cant imagine an exchange listing more than three coins a day and all were shitcoins, maybe tits time that the regulatory bodies shoukld be more effective than ever in discharging thier duties.

Talking about shitcoins and fraud in the crypto world, I have no way or rules that can prevent it.  Crypto is semi anonymous.  So we can't track and find out who the fraudster is, because it could be that the fraudster is using fictitious data.

[TopT3ns]

Talking about shitcoins and fraud in the crypto world, I have no way or rules that can prevent it.  Crypto is semi anonymous.  So we can't track and find out who the fraudster is, because it could be that the fraudster is using fictitious data.

You are absolutely right, but when it comes to tracking down a project that is a scam, it is quite easy, until now fraudsters prefer not to provide information about the team behind the project so that indications of a scam will not be visible. Usually investors will check via the DNS used by website used by this project and after that, see the faces of the #DevelopmentTeam  for this project. What is clear is that in the world of cryptocurrency, you must remain vigilant when connecting wallets or buying and selling cryptocurrency transactions.