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Aug 22, 2021 (Vehement Media via COMTEX) — Every day, hundreds, if not thousands, of tokens are released on various blockchain networks, such as Ethereum or Binance Smart Chain (BSC). The vast majority of these tokens are either shitcoins created by inexperienced developers looking to cash in on the cryptocurrency hype or scams created by rogue developers looking to defraud unsuspecting investors. Among this sea of shitcoins and scamcoins, however, are a few gems that would reward early investors 100x or even 1000x.
The cryptocurrency world is a modern-day “gold rush,” in which a wise decision can instantly make a person wealthy.
How do you find these potential crypto treasures?
You only need to do two things:
Spotting a potential cryptocurrency gem ahead of the other investors
Conduct immediate research to confirm its potential for growth.
Spotting a crypto gem:
It is critical to be the first to notice a potential 100x coin. Friends and families of business owners frequently benefited from “insider trading” in traditional financial assets because they were the first to learn about a company’s launch. The benefit of blockchain transparency is that you don’t have to be friends with the token creators. On the blockchain, every transaction is recorded.
The question is, what should you be looking out for? Consider the journey of a cryptocurrency in its early stages. Tokens must first be deployed on the blockchain before being added to a decentralized exchange (DEX) such as Uniswap for Ethereum or PancakeSwap for BSC. Following that, the token creators would put in place the necessary controls, such as locking liquidity, to protect the investor’s interests and establish the trust and confidence required for them to purchase the token. This is followed by marketing and listing on an exchange. You will typically learn about such gems at this stage of promotion, but you will be too late, and there will be a large number of competing investors.
Is there, however, a way to learn about a crypto gem before marketing begins? It is possible; all of these events, including token deployment and liquidity addition, as well as control mechanisms like liquidity locking, are recorded in blockchain transactions. If you look for such transactions, you may be able to unearth a gem before anyone else. The problem, however, is sifting through this massive blockchain haystack in search of the needle of the correct transactions. It is simply not possible to continuously monitor blockchain explorers and analyze transactions in real-time manually.
Not to worry, a dapp has been released that allows you to find 100x altcoin gems for the first time. When the BEP-20 tokens lock liquidity in real-time, Mudra Discover for the BSC network keeps track of them. It also displays the liquidity value and the duration of the liquidity lock period directly from blockchain transactions and smart contracts. Tokens with a reasonable liquidity value locked in for a year or more have a good chance of becoming the next big dogecoin or safemoon.
Investigating and validating a potential crypto gem:
So you’ve stumbled across a potential crypto gem, but should you jump in and invest? Not yet; you must conduct extensive research to determine whether or not there is a gem potential. This necessitates another examination of the token’s fundamentals, which are all available on Blockchain but extremely time-consuming manually. There is also a dapp for this purpose: Mudra Research is the most sophisticated and comprehensive token scan tool on the market. You can learn all of the critical parameters associated with any BSC token, such as token ownership and whether any supply is burned, in a matter of seconds. You will receive a token contract source code analysis, as well as information on whether the token is likely to be a honeypot, which may prevent holders from selling their shares. The token’s liquidity is examined, and all relevant information, such as its value and lock duration, is recorded.
You can identify and research crypto gems far ahead of the competition with these two dapps, and who knows, you might become the next poster boy for the crypto rags to riches story.