on your exchanges today?
Pancakeswap is a Decentralized Exchange on BNBChain. Any team/project is able to add their tokens to the exchange by simply providing liquidity. As the exchange is decentralized, the team has no control over the tokens added to the exchange so it is important to DYOR.
What is dex
Please read this, https://cointelegraph.com/learn/what-are-decentralized-exchanges-and-how-do-dexs-work/amp
It means decentralised exchange, where anyone can list their token. User needs to do thorough research on whether the token is legit or not. As there might be some scam tokens too.
⛔ Be careful from SCAM tokens ⛔ ⚠️ Never use your main wallet to swap tokens you got from airdrops. If you want to take risks, create a new wallet for such activities ⚠️ Always check BSCscan transactions to see if they only allow approve/transfer or if only whitelisted addresses can swap. To verify Smart Contract you can check these platforms — HoneyPot — DappBay To revoke Smart Contracts 👇 — RugDoc Wiki Always check these steps before buying any token 1. Check contract, source code 2. Check function 3. Check Tax, fee 4. Check website, social media, communities, and make sure they're legit 5. Check Dev/owner wallet history. 6 Check LP lock
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