Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Topic started by: yhiaali3 on June 02, 2024, 01:04:07 PM
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Hi friends
I am looking for the best site to Scan Tokens on Binance Smart chain(BEP20)
As you know, there are a lot of scam tokens on the Binance network, and I was recently scammed with a rug pull token on Binance. Although it was listed on CoinMarket and Coingecko and seemed reliable, it turned out to be a scam. Fortunately, I only bought a small amount to try.
So I am looking for a site that gives me a guaranteed result. Is the token reliable or a scam?
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If the scam token has entered a well-known price aggregator like cmc or cg, it is definitely a big planned scam where the scammer has complete resources. I have never found such a detector site. As for general fraud checker sites can only detect from their smart contracts like tokensniffer or rugcheck.
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I think it's best to do due diligence by yourself, I mean that kind of thing cannot be done in an automated way IMO, at least if you want the result to be accurate. The good old read the whitepaper, the team, the tokenomics, and stuff is better than using CMC/Coingecko. The good old DYOR is pretty much the mantra if you want to invest.
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I am looking for the best site to Scan Tokens on Binance Smart chain(BEP20)
Scan BEP20 tokens?
If you only wants to know it in general, I think there is the information in CoinMarketCap or CoinGecko. But if they aren't listed yet, there is no way to know further information besides checking it on the project sites.
As you know, there are a lot of scam tokens on the Binance network, and I was recently scammed with a rug pull token on Binance. Although it was listed on CoinMarket and Coingecko and seemed reliable, it turned out to be a scam. Fortunately, I only bought a small amount to try.
Yes, there are many scam project who used Binance network. But I think we can't blame Binance company because it is not their mistake. Sure, there is no guarantee of quality coins/tokens although they are listed in CoinGecko or CoinMarketCap. We must do our own analysis to know it.
So I am looking for a site that gives me a guaranteed result. Is the token reliable or a scam?
Is it possible? I think there will be no sites which guarantee the result. It is something impossible.
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Is it possible? I think there will be no sites which guarantee the result. It is something impossible.
Yes, it is possible to some extent. There are smart contract scanning sites that give you a percentage result as to whether the coin is legitimate or a scam, by analyzing the contract, the project site if any, the loopholes in the smart contract, etc.
But of course there is no 100% guaranteed result and it would be better if there were more than one scanning site to get better results. In the end, you should do your own research, but it helps a little.
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listing requirements on both CoinMarket and Coingecko are not strict and any scam token can be eaily listed but they work hard to remove scam tokens.
Just because a token is not scam does not mean it is a good investment. You are looking for a token that is a good investment and not a fraud. So the best solution is to focus on developing the project, does it offer something real, project reviews, and the question here or in BTT