Do Your Own Research!
When someone says DYOR one must wonder where to start? Before we start there is absolutely no financial advice within this article or any other page on our site please invest wisely. So let's begin explaining how to do your own research. Most will say without reading the contract code, you will never be 100% sure how the coin will work and what hidden functions may exist with the contract. And determine whether it is a scam or not. We understand this can be frustrating so have taken care of this by providing our users with Zattools wich are quick and easy too use. We also list projects wich are verified by ourselves before being listed on our platform.
Investing in new cryptocurrency projects carries a larger risk so only invest what you can afford to lose! However that being said it can be very rewarding too. There are some sensible checks to do before buying a new crypto currency as most unfortunately are a scam. It is very important to check the security audits if any are in the public domain that is a start. It is also necessary to examine the legitimacy of the audits familiarise yourself with trusted auditors as some are poor at what they do. However because a project hasn't been Audited it doesn't mean it is a scam! so rather than just relying on Audits you will need to take various steps to make a clearer observation on the developers intentions. We will provide more information on the best ways to protect yourself from scammers.
Most common and most easily avoidable mistake when finding your 100x Gem, is using the wrong contract adress. If you have found a good project then more than likely there will be fake versions of it. The scam version of the project is usually in the form of a "honeypot". Meaning you can buy but you cannot sell. Once you purchase using the wrong contract adress. Always check the contract address of the currency you are buying ensuring you have the correct contract address this saves you losing your hard earned cash. Is it the same as is listed on ZAT or the projects own official site? Before placing coins on ZAT Tools, we will manually check them and try to eliminate fraud by ensuring you only recieve the correct information.
Always check the contract adress we show matches the adress you are using to buy with. If not something is wrong! you should question this on their official channels such as their Telegram, Twitter etc. Maybe the coin has been relaunched due to a problem with the previous contract. But most likely it's scammers who have created/cloned the token with a similar name. For example an imitation of Zatcoin would be called Zatoin. Some other key points to check before buying are to see whether the project has the right team. Start with Telegram check the number of members that are active, what kind of response do you get from the team try asking questions and if the tg group is active or not. You can clearly see this by comparing the number of members online with the total number of members. If a Telegram group has 15,000 members but only 200 online, there is a high probability that it will have been botted to give a false impression to new members.
BSCscan check the top holders try to see the percentage that is held by the top 50 holders. Check If anyone is holding large amounts of the token i.e. 5% and above, if so its risky. This wallet could sell all of its holding and have a huge downward impact on the price. This can cause panic and eventually lead to everyone selling whatever they have. There are exceptions to this rule, such as liquidity pool on pancakeswap 0x000 ... 00 dead wallet addresses that are used to burn coins, which means that nobody can sell from these wallets. Incase of a pre-sale the pre-sale portfolio can be more than 10% (pre-sale is a riskier investment).
Poocoin you can manually check for two specific scams through this website. You can check if there is a red warning message under the LP field. This field will tell you if Liquidity is not locked, unlocked Liquidity pool allows developers to take everything at once if they want. If so, that coin can be rugpulled you will want to keep away as the chances are its a scam. You can also check for a honeypot too here. Below the chart you have the buy and sell orders, check if there are different addresses on sells. Honeypot is a specific scam in which developers have put in place a function within the contract that only allows certain wallet addresses to sell. If you only see buy orders and only a few sell orders (usually large sells) if so avoid its a scam. In addition to these technical points, it's a good idea to check the admin and development team, their way of communicating with you and others whether they have a good website, constantly working, and a professionally managed social media presence. We at ZAT whole heartedly wish you the best of luck with your future investments.
Please check out Zattools.com for more articles verified projects and tools.