Hey guys, today we’ll be talking about where to go and how to find the Crypto gems you’ve all been asking for in our Telegram group chat.
Spot ALT coins that could possibly go parabolic and start heading for the moon, especially those DeFi token gems running on the Binance Smart Chain network (BSC).
As we all know Binance is one of the largest crypto asset exchanges on the market offering more coins and assets to be traded than any other platform out there. Before we get into the nitty gritty, we would just like to let you know one of the main reasons people are starting to move over to the BSC network to start trading and staking their assets. The main reason is the low fees and costs that are made possible. We’re sure you’ve seen Ethereum’s high gas fees and have been wondering about other networks that offer similar staking and earning rewards but with less fees involved and the BSC does this.
Now let’s start with talking about one of the tools available that lists certain coins, exchanges and protocols and also checks to see if the asset has been audited or not for safety etc. The first tool is called DeFi Station. You may have noticed that there some bull runs you have missed out on and the 100x Crypto gems gains have already happened. For example, one of the top coins shown by DeFi Station is the Venus coin. It’s a decentralised stable coin and lending protocol. You can see the top performing coins below.
Another great tool to take advantage of is called BscScan. It’s a block explorer and Analytics Platform for the Binance Smart Chain network. However, there is a great new feature you can use for Yield Farming fanatics. If you go the menu at the top of their page and hover over the “Resources” menu then you’ll notice a section called “Yield Farms List“. As well as looking at each assets marketcap and website you’ll also see any reports that have been made against them. Let’s start by showing you what we mean in the picture below.
As you can see on the right hand side the Project named “WallStreetSwap” had the “Rug Pulled” which means they promised a huge return in investments however, they came crashing down unexpectedly. You’ll have also now noticed the “IceCream Swap” project had been “Drained”. This means that the project was compromised and the funds where diverted elsewhere and had drained the funds held in that project. Both these are not safe projects. This section of the BscScan website is a great tool to use to avoid having these incidents happen to you.
Another great feature about this tool is that you can search for the asset you’re looking into and check if the website is valid, if it has been reported and what their market cap is all in one place. With that being said we’ll also like to point you to the “Upcoming” section of the Yield Farming page. Here you’ll find all the latest projects that have been submitted to the BscScan network or about to go live. Please note that there are many malicious projects out there and with everyone shilling new projects to everyone in groups all the time, it’s hard to tell which one is legit or not. Well now you have a tool that you can use and check reports out on. Obviously not ruling out the need to do even further research on the projects you’re looking at getting into. Here’s a picture of the “Upcoming” Section on the Yield Farming page we just referred to.
Please note the high risk involved in the DeFi market and you should always do your own research before jumping on bandwagons and shillers that are all over the place.
We recommend that if the tokens are not from a reliable source then stay clear from them. If you do your research on the new ones and they seem to be listed by popular exchanges like Binance etc then it’s most likely they’ve already been noticed by experienced traders etc however, you may find yourself a gem that they’ve missed out on.
Should you want things made simpler for yourself then simply ensure that you’re on the “Ongoing” section and then toggle the “Market Cap” menu so you’ll see everything in order, gradually making your way down before you decide which is the next gem that’s going to make you 100x gains.
These are a couple of great tools to use when Crypto gems hunting. Of course, there’s the main ones out there like Coin Gecko, Coin Market Cap and Token Metrics, but we thought we’ll share these with you too in case you didn’t know these existed.
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