Every day, hundreds, if not thousands, of tokens are released on blockchain networks like Ethereum and Binance Smart Chain (BSC). The majority of these tokens are either shitcoins generated by beginners hoping to profit from the cryptocurrency craze or frauds established by unscrupulous developers hoping to deceive naïve investors. However, among the sea of shitcoins and scamcoins, there are a few jewels that could pay out 100x or even 1000x to early investors.
The cryptocurrency industry is a modern-day "gold rush," where a wise decision may make a person wealthy overnight.
How do you find these crypto treasures?
There are simply two steps to take:
- Identifying a possible crypto gem before the competition does
- Perform comprehensive but quick research and confirm its upside potential.
Finding a potential crypto treasure:
It's crucial to be the first to identify a potential 100x coin. Friends and family of business founders benefited from "insider trading" in traditional financial assets since they were the first to learn about a company's start. The transparency of blockchain means you don't have to be friends with the token creators. The blockchain keeps track of every transaction. What should you be on the alert for, exactly? Consider the journey of a cryptocurrency in its early stages. Tokens must first be issued on the blockchain, followed by liquidity being added to a decentralised exchange (DEX) like Uniswap for Ethereum or PancakeSwap for BSC. The token developers would then put in place the appropriate measures, such as locking liquidity, to safeguard the investor's interests and instil the faith and confidence they need to buy the token. Following that is marketing and exchange listing. You will typically discover about such jewels at this stage of promotion, but you will be too late and there will be a big number of competing investors.
Is there a way to learn about a crypto gem before marketing starts, though? All of these events, including token launch, liquidity increase, and control measures like liquidity locking, are recorded in blockchain transactions. If you look for such transactions, you may be able to find a diamond before everyone else. However, combing through this massive blockchain haystack in quest of the needle of the correct transactions is a problem. Constantly monitoring blockchain explorers and analysing transactions in real time is impractical.
Not to worry, a new dapp has been released that allows users to discover low cap 100x cryptocurrencies. When the BEP20 tokens lock liquidity in real-time, Mudra Discover for the BSC network maintains track of them. It also shows the liquidity value and the duration of the liquidity lock directly from blockchain transactions and smart contracts. The coins with a reasonable liquidity value that has been locked for a year or longer have the best potential of becoming the next dogecoin.
Identifying and verifying a crypto gem:
So you've stumbled across a potential crypto gem, but should you invest? Not yet; you'll need to do more investigation to see if there's a chance of further growth. This needs a review of the token's foundations, which are all available on Blockchain but again time-consuming to do manually. There is also a dapp for this purpose: the most advanced and comprehensive token rugscreen tool available is Mudra Research. You may learn all of the essential information related with every BSC token, such as token ownership and whether any supply is burned, in a matter of seconds. You get a source code analysis of the token contract to see if it's likely to be a honeypot, preventing holders from selling their shares. The token's liquidity is examined, and all pertinent information, such as whether it is locked, is recorded.
You can identify and research crypto gems far ahead of the competition using these two dapps, and who knows, you might become the next crypto rags to riches poster boy.