WATCH OUT For These Rug Pulls! Top 10 Tips To Keep Crypto Safe!

Stop whatever's going on here stop it Immediately are you thinking of buying That next 100x token well it could very Likely be a scam a rug pull a worthless Token designed to steal your money no God please no so how do you avoid such a Fate well in this video we'll outline 10 Ways that you can prevent yourself from Being the victim of a rug poool and not Only that but these handy hints will Also save you from other types of crypto Scams this video could literally save You thousands so don't go Anywhere so first up a little context Now one of the earliest and arguably the Best known rug pull of all was Bitconnect B Connect founded in 2016 bitconnect was An open-source cryptocurrency that Promised high yield for investors this Attracted more investors and drove the Token skywards however in January 2018 Bitconnect abruptly shut down causing Its token price to Crash by 92% bitc Connect's Founders had runoff with more Than $2 billion doar of investors funds And since then rug pools have become Pretty commonplace scams in crypto According to the researchers at Chainalysis crypto rug pools were Respons responsible for more than $2.8 Billion in illicit activity in 2021 Alone other rug pools you might have Heard of include onecoin fex and Squid

Game a crypto token that capitalized on The hype around the Netflix series of The same name anyway it might surprise You to learn that not all crypto rug Pools are illegal while some are Outright scams to defraud investors Others tiptoe along the line of Unethical Behavior without actually Crossing over into Illegality now broadly speaking there Are three types of rug pools the first Type is called liquidity stealing this Is when token creators suddenly withdraw Every single coin from the liquidity Pool most rug pools including the ones I Just mentioned are examples of liquidity Stealing then there are limiting sell Orders now this is when Dev set up a Barrage of sell orders at a low price Dramatically driving down the tokens Value then they simply buy up the tokens On the cheap before selling them at a Much higher price and third is what's Called dumping this is a more calculated Tactic where a token's price is Artificially inflated through various Forms of Market manipulation think large Purchases or creating false price Movements once the price skyrockets the Token is sold off at its peak and then The devs disappear with the profits and I should also note that rug pools can Also be categorized as either hard or Soft hard rug pools are when developers

Embed malicious back doors or hidden Exploits into a Project's smart contract This enables them to illegally withdraw Funds or tokens soft rug pools on the Other hand are more tactical they rely On marketing hype to falsely boost a Project's value then once that value is Inflated the project is abruptly shut Down and the founders flee with the Money now although they are unethical Soft rug pools are usually not illegal And this means there's not much you can Do about it if you're a victim okay so With that covered let's get into the top Ways that you can avoid a rug pool first Up try to resist getting caught up in The hype around a project I know this is Easier said than done often especially During Peak bull market season the Prices of tokens seem to be shooting up And there's an almost uncontrollable Urge to get in on the action and buy up Tokens before they climb too high it's That fomo fever fueled by your friends So-called experts social media posts Telegram channels and so on the Excitement builds in your stomach and You feel like you need to buy up as soon As possible to maximize your gains and When you do this you get the Fundamentals you're caught up in Emotion Instead of logic and this sews the seeds Of your downfall and this is what the Scammers Bank on the best of them are

Masters at drumming up excitement around Their projects and when prices Skyrocket The hype cycle gathers speed and takes On a mind of its own but it's a ticking Time Bomb of deception and only the Scammers know when time is finally up so Before you blindly follow what others Are doing just take a second take a Breath remember the fundamentals and do Your own research and this tip number Two is probably the most important Advice of all before investing in any Project you need to do your own research At a minimum you should know what the Project is all about what its tokenomics Look like and what value it brings if Any if you don't or there's no good Answer you could be looking at a token With no intrinsic value value if that is The case and you still decide to take a Punt on it well you should know you're Just straight out gambling you're Effectively predicting that you'll be Able to sell the tokens at a higher Price than you bought them and before The price inevitably collapses and trust Me it will collapse so how exactly Should you go about doing your own Research well first jump on Crypt Tracking websites coin gecko or coin Market cap and research the project Thoroughly there here you should should Look out for a few things in particular Including the Project's trading volume

And liquidity depending on the token These sites will also have information About tokenomics and Founders as I'll Explain later on in more detail these Are important data points to take stock Of and next you should research the Project's website look out for any signs Of Unprofessionalism poor spelling and Grammar can be potential red flags as Are websites that are all style but no Substance you should be able to find a White paper and some Media or Third-party links that you can easily Verify against the projects tokenomics And founding team the white paper should Be reviewed closely they're usually not As complicated as you might think keep An eye out for mistakes plagiarism Over-the-top use of jargon and a general Lack of thoughtfulness if you spot these Issues be suspicious I also suggest Checking the project out on Masari and Binance research and jotting down any Questions you might have about the Project that you still want Clarity on Another tip is to research the project On platforms where you can find insight Into initial coin offerings or icos Ico Drops and Ico analytics are two great Resources here you should find Information about the Project's Fundraising goals token prices market Capitalization and roadmap so by now at

A bare minimum you should know what the Project does what value it brings if any What the tokenomics are and you should Be assured that there are no Inconsistencies in terms of its Market Volume which could suggest price Manipulation our next suggestion is to Do your due diligence on the founders And core team look into the background Of the team members if you can't find Details about this on their website or Tracking websites then search for them On Google check out their social media Accounts and scour LinkedIn if you you Have mutual connections on LinkedIn Check with them to make sure they're Legit connections and professional Remember though that not everything is As it seems on LinkedIn just because Someone says they went to X College or Worked at y company well it doesn't Necessarily mean that they did remain Skeptical and try to corroborate Information then run the founders names Through YouTube and try to find Interviews with them the further back in The past the better this is a great way To trace the founders vision and see if They're on a road map that makes sense If you can't find information about the Team it is a bit of a red flag I mean They might be strong privacy Advocates And that's fair enough but they might Also be scammers who are biding their

Time before disappearing Into Thin Air With investors money so stay prudent However I should also point out that Some of the biggest shyers in crypto Have actively sought out the spotlight And so just because there is a lot of Information out there about them it Doesn't necessarily mean they can be Trusted as ever look for substance over Style right the next two pointers you'll Find back on coin market cap or coin Gecko first you should make sure that The project is on at least one prominent And reputable exchange this is because Prominent exchanges have quite stringent Requirements in place for tokens to be Listed there this is in order to protect Their customers and reputation it's fair To say that highly regulated us-based Exchanges like coinbase have much Stricter requirements in place than some Of their counterparts overseas but there Is of course a trade-off to this Coinbase only has around 2 200 coins and Tokens on offer by contrast K coin has Some 700 plus and if you're looking for I watering gains you're far more likely To find these among the higher risk Lower market cap tokens on C coin than Some of the smaller pool of assets on Coinbase now if you can't find the token On any reputable exchange that could be A red flag for instance if it's only Listed on a DEX like Unis swap you

Should proceed with caution as they Don't have any listing criteria or Requirements to be clear though just Because cryptos are on a reputable Exchange does not mean they're immune From being a rug poool it just means That they're less likely to be scams and If you're looking for some of the best Exchanges out there then I'll refer you To our video on the top ones for 2024 That's linked to in the top right Alternatively if you wanted to get to Trading straight away then our deals Page below has sign up bonuses of up to $440,000 and fee discounts of up to 60% On those tier one Exchanges all right now there are a few Other things to check out on CMC or coin Gecko the first is liquidity now Liquidity in crypto refers to how easily A coin or token can be bought or sold Without causing significant price Movements you're looking for high Liquidity projects these are less likely To be manipulated by market scammers as It's difficult for a single Market Participant to control the price action You should check this alongside trading Volume which you can see here again High Trading volumes are a healthy sign it Means that there's a lot of Market Interest in the cryptocurrency in Question which can lead to more accurate Price Discovery and reduced price

Manipulation now these must also be Looked at alongside the tokenomics of a Project which as mentioned earlier you Can find on coin gecko project websites Or misari now tokenomics refers to the Supply demand distribution and valuation Of a cryptocurrency in particular you Want to make sure that tokens are widely Distributed and not centered around a Small group of people like for instance The project Founders if tokens are main In the hands of a few people stay away Even if it's not a scam per se it means The token price will almost certainly Crash if they decide to pull an exit and Next you need to get a sense of what the Project's Community is like if it's a New project it's not likely to have much Of a community to speak of but if it's a Bit more established you'll get some Good insights about the project from Community sources X is the first place To check out see what the project is Tweeting about and how much engagement There is with the posts do people like The project is there much of a community Forming with questions and answers the Odd joke and insights these are all good Signs and how engaged are the admins are They answering user questions or do Their posts seem to be all about hype Again be wary of hype Masters you can Gauge how people feel about a project Overall by doing some sentiment analysis

Just scan the responses and look out for Anything negative read these more Closely to find out if there is anything To worry about or if it's just your Run-of-the-mill spam Discord and Telegram are two other places you should Check out using the same process and Finally on Reddit you can often find Questions about a project including Pretty forthright ones like is X crypto Scam then it's up to you to cross check The answer to see if it has any validity Now another thing you should check is The Project's external affiliations Where have the founders worked before Is the company connected in any way to Other companies or people and if so What's the reputation of these companies And people of course you should ensure That the company you're thinking about Investing in is not linked to any Shady Characters including known scammers some Characters in crypto move from one scam To another be careful too of people who Flaunt their wealth orange Lambos and Diamond chains scream insecurity a Desire to be recognized and irres Responsible spending habits these Behaviors suggest that money comes way Higher on their list of priorities than Things like values or Integrity but even If the bad actor is reformed or the Flashy Crypt bro operates above the Board their reputations matter and if

Their reputation is tarnished it can Damage the reputation of anything they Touch including the project you're Thinking of investing in keep this in Mind because it could make it difficult To attract legitimate investors ERS and Partners which in turn will increase the Likelihood of the project failing the Next point is an important one that Isn't widely talked about has the Project's code been audited now there Are a slew of security auditing firms Out there staffed by code Auditors and Engineers and typically before major Projects go to main net or in the event Of a big upgrade they'll recruit one or More of these firms to carry out an Audit on their code the job of security Auditors is to examine the Project's Code and look out for any glitches that Could be exploited by hackers Auditors Will look at common attack vectors Scrutinize the logic of source code and Flag anything to the project devs that Ought to be fixed now it's a very good Sign when projects have gone through Audits it means security is likely to be Of a high standard it also suggests that The project in question is legit Otherwise well they wouldn't have gone Through the considerable cost and effort Of an audit in the first place that said Though I should also emphasize that not All auditing firms are created equally

Some have a better reputation than Others as with the project self do some Due diligence on the auditing firm to Determine whether or not it is legit now Our last two tips are related to risk Management they might not prevent you From being the victim of a rug pull in The first place but they will help to Reduce its negative impact on your life So first of all you need to have clear Risk management processes in place as Part of your investing strategy you Should know how much of your crypto Investments you're prepared to put into Tokens that promise High returns but Could just as easily leave you wrecked This should be money that you won't lose Sleepover if it does indeed go to zero As a general rule it's always wise to Spread your bets and have a range of Assets in your portfolio large market Cap coins like BTC and eth are on the Safer end of the crypto investment Spectrum these can help counterbalance Higher risk Investments among smaller Cap tokens and on top of this you should Determine how much of your wealth you Want to invest in crypto overall the Sector is new volatile and still largely Unregulated so it might be wise to Spread your Investments across a range Of sectors including things like real Estate stocks bonds and so on as well as Crypto and whatever you do don't go all

In on a single project you never know What could happen and the reward just Isn't worth the risk our final tip Relates to trading always ensure that You reduce the impact of your Investments dropping in value by using Stop losses on exchanges if you're Unfamiliar stop losses in crypto work Similarly to stop-loss orders in Traditional Finance they're used by Traders to limit their potential losses In the crypto Market by automatically Executing a sell order when the price Reaches a pred determined level the stop Price so for instance if you buy a Crypto at $100 and put a stop loss at $90 The Exchange will automatically sell If the price drops to $90 this is a Really useful way not only of avoiding The worst impacts of scams but also Minimizing your losses from your Run-of-the-mill bad Investments now of Course you need to be smart about the Level you set your stop- loss at given The volatility of crypto there's a Chance that the price in the example I Just mentioned could drop momentarily to Say $89 before shooting up way above $100 if that's the case then your stop Loss didn't work out for you but used Wisely stop- losses are excellent risk Management tools for investors now Overall this video shows it pays to be Informed and to be skeptical when it

Comes to investing it's important to try And control your emotions when investing And let logic and sound strategy be The Driver of your decisions and if you want To know more about investing I'll leave A link to our ultimate trading strategy Video in the description Below okay so there you have it folks Now what did you think and what other Tips do you have for people to avoid Being the victim of a rug pull or other Type of scam if you like this video do Drop us a comment smash that like button And subscribe if you're looking for Reviews of altcoins and would like to Know about Team coin bureau's in Investment strategies and portfolio Allocations be sure to check out the Coin Bureau club we also have a Discord Channel where I and the team chat with Our followers where we share tips and Market moving news and much more besides Be sure to follow us on X Tik Tok and Instagram too and check out coin buau Clips for exclusive interviews live Streams Q&A and more right I'd better be Off places to be people to see you know How it is my name's Guy thanks for Watching [Music] Goodbye