How to avoid getting rugpulled

[LastKiss]

~snip~

I know there are other ways we do fall victim which I think is ok if we share our experience as well but then, how can we bypass this?

1. Check their community: check if their community is active with real humans, not bots

2. How many followers they got

3. How often do they post on social media

4. How many exchanges got them listed? The two qualified exchanges I check, which I have mentioned frequently are Binance and Bitget. These two Cex usually list quality tokens which from my experience I have benefited from
~snip~

Well, it's the risk when we choose to invest in this cryptocurrency space because cryptocurrency will outperform stock in the most gains performance and we should be ready because that more high profit comes with more high risk too so there's no guarantee that our investment in cryptocurrency always increase. Getting listed to the best exchanges out there only increase their reputation and gives a more safe feeling to their investor, it's not a bad idea to invest only to coins that are listed in top exchanges but we should always be ready to expect something that could happen.

[1714770644]

1714770644

[1714770644]

1714770644

[dansus021]

How to avoid getting rug pulled ? in most of the simplest way, just check their LP token/Liqudity provider token from the Decentralized Exchange like Pancakeswap. New coin nowadays created on top of other chain example launched on Layer 1 like Ethereum, Binance Smart Chain or Launched on Layer 2 like Matic optimism and arbitrum.

After the token launch there will be the first person who provide first liquidity so the token can be sold and buy if the team burns the LP or lock the LP its gonna be safe from rugpulling but there are still other downside like the coin going to 0.0000000001 or anything like that.

So just avoid token when the LP is not locked or burn if the dev freely move their LP your token isn't safe

[MiauKitchen]

I always try to avoid bad project and i choice always good project for future.

You have opinions and principles like that, usually people who are very careful in making decisions.

[dlightag]

The cryptocurrency market is very risky business that one need to make research before investing in any alt-coins, accept Bitcoin and top alt-coins in the cryptocurrency market that doesn't rug pulled anywhere, accept Luna and FTX Coin that shocked people, where many crypto traders get liquidated for being position on the period downtrend of the Coin, just few trader make a profits and up to date the both alt-coins have not been recovered from ATH.

[Iamcrypticguy]

The cryptocurrency market is very risky business that one need to make research before investing in any alt-coins, accept Bitcoin and top alt-coins in the cryptocurrency market that doesn't rug pulled anywhere, accept Luna and FTX Coin that shocked people, where many crypto traders get liquidated for being position on the period downtrend of the Coin, just few trader make a profits and up to date the both alt-coins have not been recovered from ATH.

Yeah crypto is a risky business, hence the slogan "DYOR" was formed. over the years I've also had my fair share of rugs including memes or perceived projects with good utilities. But they're still altcoins that have done well in recent months.  TIA,INJ are some examples and I think ZETA might follow their footsteps. Though it seems have a minor retirement rn..

free image hosting

[Rengga Jati]

Few months ago, I discussed the distinctions between Altcoins, Shitcoins, and Meme Coins. And how likely we can easily get good alts on cex. Not like those coins listed on Cex are fully safe but you know what to do when you see a token get listed.

Altcoins are cryptocurrencies other than Bitcoin. So, whether it's meme coins, shit coins or other types, including various types of tokens, they are still included in altcoins. While there are some altcoins that are quite good and have good and strong fundamentals, there are many, even the majority of which are shit coins. As is often the case nowadays, namely meme coins with extraordinary hype, they can really become part of the shitcoins.

1. Check their community: check if their community is active with real humans, not bots

This doesn't really guarantee. Because many scammers hire project management to manage their social media accounts so that they look very natural and genuine. So it is quite difficult to differentiate between genuine and scam, even accounts that have a very large number of followers or memes do not necessarily mean that they are not scammers. So what is certain is to be very alert and careful with various new projects. Because we can say they are at very high risk of becoming scam projects, shit projects, or various other types of fraud, including a high possibility of rug pulls.

So, it would be better to focus on the main coins that are already top coins. especially for long-term investments, make sure you have Bitcoin. .

[Bushdark]

I always try to avoid bad project and i choice always good project for future.

You have opinions and principles like that, usually people who are very careful in making decisions.

One of the ways we can always avoid rugged pull is to always amkw research when we are investing on altcoins.
There are some projects that are meant to be in the market for few months and nothing more. Most time, this project can make user to lose there funds if they are not quick enough to sell there holdings and move to the next crypto project.
The risk can be large but a successful project can make us become million.

[odunybiz]

I know there are other ways we do fall victim which I think is ok if we share our experience as well but then, how can we bypass this?

1. Check their community: check if their community is active with real humans, not bots

2. How many followers they got

3. How often do they post on social media

4. How many exchanges got them listed? The two qualified exchanges I check, which I have mentioned frequently are Binance and Bitget. These two Cex usually list quality tokens which from my experience I have benefited from

Exactly as the first comment said, all of these criteria you have given to watch out for when chosing a coin to invest on were all found with FTX and LUNA still they all got rugpulled or should I say collapsed that it affected the investors of this tokens that for some they lost their life as a result. Something about this listed token on exchangers wether CEX or Dex we can't certainly know which token would stay for long as possible so investing with amount you can afford to lose should be a key principle to abide with when dealing on altcoins.

Altcoin are just too difficult to rely on. I wonder why people will put all their life savings on altcoin. Most of this trick as said earlier may not work out. It's better one invest largely on Bitcoin and less on altcoin to avoid the risk of losing money.

[Best-mary]

I know these didn't work with two major projects FTX and LUNA which were rugpulled and people lost huge amount but what OP is trying to do is atleast listing out certain check we need to do in order to avoid falling for other such process, because if you randomly check any new projects which are getting launched everyday they will lacks the features or we can judge them by using the methods OP has mentioned but there are few projects like FTX and LUNA wherein everything will be 10 out of 10 but still, they would cheat the users and this is something we cannot help as no other verification method can give you 100% results or accuracy but at least we can avoid those scams which can identify.

Better to stick to established crypto coins.

Yes. I agree with you but do you know the good thing about this FTX and Luna fall? That it opened our eyes to be alert. You know when the thing about the developer and SEC were having some misunderstanding we didn't flinch about the issue. Now, it makes us wiser to know what is happening around each project we invest in and prepare for the worst

[Best-mary]

-snip-
1. Check their community: check if their community is active with real humans, not bots

2. How many followers they got

3. How often do they post on social media

4. How many exchanges got them been listed? The two qualified exchanges I check, which I have mentioned frequently are Binance and Bitget.

Thank you for this, but I must say that they can guide us but are not the sure ways to avoid being the victim of rug pull. The surest way is to avoid being greedy, wait for the listing of a good project and know the brains behind it as it is in some. Rug pull is happening regularly in cryptocurrency and outside it and it is mostly because the projects in question are either scams from the beginning or the developers and the brains behind it just decided to be greedy at a point. It could be a failed project in some cases too. But what is important is for us to ensure that we are not too forward due to FOMO. However, this advice could one one-sided too as some people have been greedy and too rushed to buy some projects and they are now millionaires due to that. Without risk, no one can be outstanding, so let's keep on taking risks but just be wise with it.

Now! This is another good point that people should keep in mind. Greed has made so many people lose money in both ways in the crypto world. More also, I didn't mean that is all new project we should dive into. I just don't know how to place it so it will be more understatable

[radjie]

One of the ways we can always avoid rugged pull is to always amkw research when we are investing on altcoins.
There are some projects that are meant to be in the market for few months and nothing more. Most time, this project can make user to lose there funds if they are not quick enough to sell there holdings and move to the next crypto project.
The risk can be large but a successful project can make us become million.

The importance of conducting research on a project is very necessary, quite a lot of new projects cannot last long, the trend of increasing the price of the token that was launched only booms instantly.  Deciding to take the right steps before losing a lot of money, of course we have to do it by taking advantage of the situation if we try our luck to invest in new Altcoins that don't necessarily have good potential in the future.

[ivankoh]

now, i think manipulated or attracted to something, feeling persuaded by others is normal. Some unscrupulous people can use social networks to spread, manipulate and advise unrealistic things, easily being taken advantage of to make mistakes and mistakes. To limit that, I think it is important that you equip yourself with knowledge, research, and reflection before doing anything. If you are told sensitive issues, know how to refuse. Some projects have taken advantage of this so that they communicate with their power of influence and keep other things behind the wall - it seems to be problems related to the scam project.

[strunberg]

I understood you though with the first commenter but what was the news behind these coins before the crash. You know, there's something we all need to know before a crash of any coin. There usually use to be rumours.

Its sad to say but I was victim of LUNA crash, and I learnt so much from it. We all need to be observant or at alert with every news we come across

I agree that the best choice for us is to invest in projects that have been on the market for a long time. I was never tempted by promises that the project would get 10x profits if I became an early stage investor. I am more comfortable putting my money into old projects and never being hit by negative issues. In fact, to be honest, I am more comfortable putting my money in BTC, but because this is a discussion about altcoins, I can say that I prefer promising layer-1 projects such as SEI, ADA, and MATIC.

[Iamcrypticguy]

I know there are other ways we do fall victim which I think is ok if we share our experience as well but then, how can we bypass this?

1. Check their community: check if their community is active with real humans, not bots

2. How many followers they got

3. How often do they post on social media

4. How many exchanges got them listed? The two qualified exchanges I check, which I have mentioned frequently are Binance and Bitget. These two Cex usually list quality tokens which from my experience I have benefited from

Exactly as the first comment said, all of these criteria you have given to watch out for when chosing a coin to invest on were all found with FTX and LUNA still they all got rugpulled or should I say collapsed that it affected the investors of this tokens that for some they lost their life as a result. Something about this listed token on exchangers wether CEX or Dex we can't certainly know which token would stay for long as possible so investing with amount you can afford to lose should be a key principle to abide with when dealing on altcoins.

Altcoin are just too difficult to rely on. I wonder why people will put all their life savings on altcoin. Most of this trick as said earlier may not work out. It's better one invest largely on Bitcoin and less on altcoin to avoid the risk of losing money.

Specific altcoins have performed well in the past 6-8 months and are expected to continue doing so. The key is to get in at discount zones, this is where your knowledge of technical analysis comes into play. My altcoin portfolio on Bitget has grown significantly by 160% in about 6 months. This demonstrates that, if you're careful and follow the rules, you can make gains with alts both long or short term

[Best-mary]

now, i think manipulated or attracted to something, feeling persuaded by others is normal. Some unscrupulous people can use social networks to spread, manipulate and advise unrealistic things, easily being taken advantage of to make mistakes and mistakes. To limit that, I think it is important that you equip yourself with knowledge, research, and reflection before doing anything. If you are told sensitive issues, know how to refuse. Some projects have taken advantage of this so that they communicate with their power of influence and keep other things behind the wall - it seems to be problems related to the scam project.

Guess you're getting the point now. When a project promises a lot, the moment we need to recheck why the so many promises. There are things we need to work with our instincts for sure with

[Lorence.xD]

I know there are other ways we do fall victim which I think is ok if we share our experience as well but then, how can we bypass this?

1. Check their community: check if their community is active with real humans, not bots

2. How many followers they got

3. How often do they post on social media

4. How many exchanges got them listed? The two qualified exchanges I check, which I have mentioned frequently are Binance and Bitget. These two Cex usually list quality tokens which from my experience I have benefited from

These things are common. Rugppulls are unpredictable simply because you'd only know when it is already happening, and not with when it is coming. Communities, followers, posts, are all things which could be easily done by anyone who has an intention whether it is good or bad. With being listed to exchanges that simply means the token has temporarily succeeded. Bottomline is the difference of rugpull to failing projects. If the project have failed meeting its roadmap or plan then that is because of many factors and not solely because they are a fraud. If the audiences won't be interested to invest then it will be hard for project or token owners to improve their platform. Scams and frauds are just worse; you'd only know they are doing such thing when it already happened. No matter how systemic you are checking these possibilities, they will always do it simply because they are after investors' money. This is also the reason why I just wait for its token release date for leads, more than the long progress of the project itself.