Bitcoin Forum

Hello,

Hope you have a good day.

I am noob so I don't know where and how to check liquidity pools of altcoin tokens. I am fearful of rug pulls because I read on Internet that scam developers can create new tokens very easily.

They can rug pull anytime.

Anyone can help?

https://dex.guru - select 'liquidity' option from bottom bar and then paste your token's contract address on top search box. It will show available liquidity and recent additions/removals.

Thank you.

Any more website to check?

I do not want to rely on a single site and believe what it provides is correct.

Heres a recent post to what youre looking for. Kindly check out his thread. I think thats useful and has different reliable sources for comparison.

https://bitcointalk.org/index.php?topic=5405771.0

https://info.uniswap.org/#/pools

Thank you. It is what I need.

Unfortunately, I am afraid that the size of the liquidity pool does not prove the intentions of the developers. Protection against rug pull can only be the fact that the liquidity pool is secured in a smart contract. And if you're a noob, then you definitely won't be able to check it out. You just need to meet a reliable person who will be able to investigate smart contract and confirm that the liquidity pool is non-resaleable.

Liquidity can disappear from the pool at any moment if the scammers get what they wanted.
You need to be careful and check smart contracts, not coin tickers
I wrote about it
https://bitcointalk.org/index.php?topic=5270415
Now, decentralized exchanges have more protection against this, but scammers are also cunning.

The best prevention would be to simply cease away playing around with an early token. There are many ways of the scam scheme, and purely looking at the liquidity amount is not going to solve the problem. Do note that, scammers keep improving their technique so further due diligence is required. It is worth to consider whether such amounts of sacrifice are needed, and does the effort are worth making.

A few recommendations on this topic.

1 - Don't look at high APYs, it's a trick to attract new liquidity providers. The higher the APY, the higher the probability of a scam or decrease in APY right before payouts.
2 - Staking on various unknown sites is best avoided. Contribute money to steaking only in known pools on known DEX, for example.
3 - Staking new projects, especially where the team is anonymous, is a rug pull risk.

Yeah, the size of the pool doesn't really protect you from being scammed. Sometimes, even third-party audits are insufficient because there are still some unchecked codes that could be exploited or codes checked and flagged but these fraud developers don't fix.

I'm with the other posters above that you should probably start with decentralized staking of known coins or tokens. Platforms don't offer the highest APYs for them now but the likelihood they will still scam is much less. Check out Mycontainer's Cold Staking & Delegations (https://www.mycointainer.com/cold-staking). You can try staking AVA, MATIC, CTSI or other assets available. They also have guides prepared for newbies like you.

You can check the pools of any pair on most AMMs by typing info.nameoftheamm. Investing in any project on an AMM is high risk because any project can list and trade on an AMM. This does have its benefits though. You can invest in low cap projects like 0xMR, DRC, and CNDL before other people hear about them. That's how you get rich in crypto. Just watch out for meme coins. 99% of those are guaranteed rugpulls.