Wary of Bsc

[Stunzz]

Investing in new tokens nowadays are more riskier especially since the introduction of the Smart Chain Network, which however boost a lot of scam/unpremeditated tokens into existence.

In fact, numbers of token are being airdropped into my BSC Wallet on a weekly basis, however most of them are presumed scam.. I mean since I don't work in promoting them, I don't see why I should be getting them. And I learnt one's wallet can easily get ripped by trying to trade them.

What I don't seem to understand is if;
I. I'm experiencing all these because DeFi/DEX are still in their infancy stage.
II. Or simply because the network is not yet fully decentralized.

I know majority of these upcoming project prefers the Bsc network because the gas fee is relatively low... But is there a simple and better logic to detect if this certain project is a scam.

[Bitcoin_Arena]

Even during the times when ICOs/IEOs/STOs were so popular during the crypto boom in 2017-2018, there were a lot of scam ERC20 tokens created on Ethereum Network, so seeing that many scam projects on BSC network is a surprise or something new. Avoid the shitcoin, and you will be safe from such scam.

[anu1908]

II. Or simply because the network is not yet fully decentralized.

if the network is fully decentralized, then case like this might increase instead. as mentioned above, scams are your 'friend' regardless of which chain you use. just deal with it, it's not like those airdropped tokens will magically make your balance disappear. just ignore them.

[livingfree]

That is not new.

Even during the times when ICOs/IEOs/STOs were so popular during the crypto boom in 2017-2018, there were a lot of scam ERC20 tokens created on Ethereum Network, so seeing that many scam projects on BSC network is a surprise or something new. Avoid the shitcoin, and you will be safe from such scam.

This is true, it's also in Ethereum and people tend to receive dust amounts from those scam projects and there's no way to stop them until these scams will be the one to voluntarily stop.

[Teraboy]

In fact, numbers of token are being airdropped into my BSC Wallet on a weekly basis, however most of them are presumed scam.. I mean since I don't work in promoting them, I don't see why I should be getting them. And I learnt one's wallet can easily get ripped by trying to trade them.

Sometimes the airdrop used by the scammer as a way to promote their scam tokens.

I. I'm experiencing all these because DeFi/DEX are still in their infancy stage.

It's not. The purpose of scamdrop tokens to be used as a scammer to scam people through rug pulling the liquidity on the uniswap or dex. So many times scam projects were doing this after they can attract LP providers

II. Or simply because the network is not yet fully decentralized.

It has nothing to do with the decentralization.

I know majority of these upcoming project prefers the Bsc network because the gas fee is relatively low... But is there a simple and better logic to detect project is scam.

It's not only caused by the gas fees but the demand for the BSC was making scammers issuing their scam drop tokens on BSC

[Yogee]

II. Or simply because the network is not yet fully decentralized.

It has nothing to do with the decentralization.

Teraboy is right that this has nothing to do with chain decentralization. These things are happening because you are using a non-custodial wallet that can receive any type of token. These scam token creators can view your address with the use of scanners or explorers so they can easily drop it to your wallet.

[Stunzz]

In fact, numbers of token are being airdropped into my BSC Wallet on a weekly basis, however most of them are presumed scam.. I mean since I don't work in promoting them, I don't see why I should be getting them. And I learnt one's wallet can easily get ripped by trying to trade them.

Sometimes the airdrop used by the scammer as a way to promote their scam tokens.

I. I'm experiencing all these because DeFi/DEX are still in their infancy stage.

It's not. The purpose of scamdrop tokens to be used as a scammer to scam people through rug pulling the liquidity on the uniswap or dex. So many times scam projects were doing this after they can attract LP providers

II. Or simply because the network is not yet fully decentralized.

It has nothing to do with the decentralization.

I know majority of these upcoming project prefers the Bsc network because the gas fee is relatively low... But is there a simple and better logic to detect project is scam.

It's not only caused by the gas fees but the demand for the BSC was making scammers issuing their scam drop tokens on BSC

You just answer every of my almost questions one after the other and I'm highly grateful for that.. Thanks to you though 👍

Even during the times when ICOs/IEOs/STOs were so popular during the crypto boom in 2017-2018, there were a lot of scam ERC20 tokens created on Ethereum Network, so seeing that many scam projects on BSC network is a surprise or something new. Avoid the shitcoin, and you will be safe from such scam.

You're very correct sir

But is there a simple and better logic to detect if this certain project is a scam.

However, does anyone got any idea on this?

[mu_enrico]

The scams and dust tokens are here since ETH and I still have my "collection" of unwanted tokens. It means nothing and you shouldn't be worried. The increase of tx/s and cheap fees far outweighs this dust tokens. Anyway, this shouldn't be the reason you wary of BSC as Binance is currently under the radar of multiple jurisdiction.

[irsada]

Simple logic if you never buy, or follow the program why the token is in your address then don't ever try to connect the smart contract to your address. the risk could be that your assets could be lost from your wallet.

[stomachgrowls]

The scams and dust tokens are here since ETH and I still have my "collection" of unwanted tokens. It means nothing and you shouldn't be worried. The increase of tx/s and cheap fees far outweighs this dust tokens. Anyway, this shouldn't be the reason you wary of BSC as Binance is currently under the radar of multiple jurisdiction.

It cant really be called a scam if you havent done something on it which is really not a serious matter since you are fully aware that those coins are shit ones and trying out something in behind.

They wont really be passing up those coins with no reason and just using your own common sense then you could eventually tell on whats happening.
Gas is indeed high and not really worth on making transactions on just selling up those coins if ever one of those did really get some value.

I have tons of shit tokens in my Bsc address which literally tons having millions of coins in amount.

[bayudndy]

This blame is placed on those who participate in this field themselves when they do not prepare knowledge before participating. Regardless of the field, there are potential risks and opportunities, I do not like to blame a problem, instead look at ourselves instead of blaming.
Like the OP mentioned, then why don't I ever feel like I'm trapped by projects that have a negative outlook, so in a way it's all just to look at and evaluate them similarly opposite to.

[coin-investor]

Investing in new tokens nowadays are more riskier especially since the introduction of the Smart Chain Network, which however boost a lot of scam/unpremeditated tokens into existence.

In fact, numbers of token are being airdropped into my BSC Wallet on a weekly basis, however most of them are presumed scam.. I mean since I don't work in promoting them, I don't see why I should be getting them. And I learnt one's wallet can easily get ripped by trying to trade them.

What I don't seem to understand is if;
I. I'm experiencing all these because DeFi/DEX are still in their infancy stage.
II. Or simply because the network is not yet fully decentralized.

I know majority of these upcoming project prefers the Bsc network because the gas fee is relatively low... But is there a simple and better logic to detect if this certain project is a scam.

Three of my wallets are messed up because I received that I did not ask or participated in their airdrops, it's a new way of marketing their project and scam people

One example is this token
BestAir.io

Total Supply:
100,000,000 AIR (CSupply: 98,078,396)
Holders:
4,851,665 addresses
Transfers:
6,655,854

Some of these so-called airdrops are locked and you can only withdraw or trade on specific rules and they have no social media account or group chat so people lack of communication means they are hiding something.