8 ways I managed to recognize crypto scams without any difficulties

Damn it, how many times have I fallen for crypto scams! Now I will share my bitter lessons on how to quickly distinguish between good coins and trash. Without any complex terms and convoluted analyses.

1. Starting with the simplest checks

I always start by googling the project name and checking their social media. If they have a lot of followers but the comments are all similar like "wow, cool project" and "to the moon soon", then it's definitely bots. I got fooled like that last year!

When I search for a coin's address on Google and can't find a decent website or a clear description of the token – that's the first sign of crap. Also, I never click on the ads at the top of the search! That's where the suckers with drainers usually hang out, ready to empty your wallet in seconds.

2. Looking at the code on block explorers

I went to Etherscan, and the code is not verified? I'm running away from there like crazy! Scammers deliberately do not verify the code so that no one sees what kind of garbage they have written there. Usually, these are functions that allow them to steal your coins as soon as you start interacting with them.

3. Reading other people's comments

The simplest thing is to check the comments section on Etherscan. Usually, if people are writing "SCAM!" there, it's better to believe them. I once ignored such warnings and lost a couple of hundred bucks. I won't make that mistake again.

4. Checking blacklists

DappRadar maintains a list of scam tokens on GitHub. If the address of your "promising" token is there – it means they are trying to con you like the last sucker.

5. Looking for a coin on normal price trackers

If the token is not listed on CoinGecko or similar sites – this is very suspicious. Normal projects always strive to get listed on indexes so that more people learn about them. Absence there is usually a sign that the project is either not needed by anyone or is outright fraud.

6. Checking exchanges where the coin is traded

If a coin is only available on a couple of DEX exchanges and cannot be found on normal centralized platforms, it poses a huge risk. Of course, not all such tokens are scams, but the likelihood of encountering garbage is much higher.

7. Looking at liquidity

If the liquidity is less than $100,000 or drops sharply – it's better to stay away. I once bought a token, and a couple of days later all the liquidity evaporated, and I couldn't sell anything anymore. A classic "pump and dump" scheme from the creators.

8. Using Special Tools

I use Token Sniffer – it automatically checks smart contracts and gives a rating from 0 to 100. If the rating is low – the token is likely garbage. I also check through Honeypot – it shows whether the token can actually be sold after purchase.

Remember, scammers will always find a way to deceive gullible people. That's why I've become a paranoid person and always check all these points before making a purchase. I've already lost enough money due to my mistakes, and I hope you can avoid my pitfalls!