In a new television, the trader says tells his 372,000 YouTube subscribers he ’ mho exploring crypto assets running on Binance Smart Chain ( BSC ), which is experiencing a scend in popularity .
One tool he ’ sulfur using is DeFi Station, which lists assorted coins and protocols and tracks whether the code for each asset has been audited. The crypto strategist stresses that just because a protocol has been audited, it doesn ’ thyroxine guarantee that it ’ s dependable to trade.
The top coin on DeFi Station at the meter of write is Venus ( XVS ), which is a decentralize stablecoin lend protocol. Beneath Venus is the decentralize commute PancakeSwap ( CAKE ), which is similar to Uniswap but lists BSC tokens .
Coin Bureau notes that many projects on DeFi Station have already received a distribute of attention and gone through significant bull rallies, meaning that the chance to ride a 100x rally has credibly passed. Because of this, he besides points traders toward the Yield Farm section of BscScan .
“ To find the 100xs, your best bet is to check the Yield Farm section of BscScan, which is a shameless transcript of Etherscan for the Binance Smart Chain. While there are alone 25 projects listed on DeFi Station, there are about a hundred noted on BscScan. ”
Coin Bureau notes the bad nature of the DeFi ( decentralized ) grocery store and says it ’ s up to traders to do their own research .
“ Although some of these projects have already been labeled as possible rug pulls, there is no way of knowing whether that designation was made by a competing project. That means it ’ s going to be on you to figure out whether these energetic CeDeFi ( bridging of centralized and decentralized finance ) protocols are rug pulls or not…
once you ’ ve identified a CeDeFi token that looks predict, the adjacent step is to buy it. Most of the time, the CeDeFi token you ’ ra looking for will only be available on PancakeSwap and possibly a few sketchy centralized exchanges that you should stay away from at all costs. If the CeDeFi you ’ ra looking at has already listed on a reputable switch over like Binance, it credibly has its most extreme gains behind it already. ”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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