Hello Guys, welcome to 6method crypto hub, let’s learn how to identify fake cryptocurrency. Sometimes when buying a new coin, people often fall for scams by buying into the wrong asset that they cannot sell.
Today I want to teach you how to buy an asset using the contract address.
How To Identify Fake Cryptocurrency
Now if a coin has been listed on coingecko, all you have to do is look for the search bar, put in your token name, scroll down and you will see your contract address. Look at the image below.
Now with that said, check to see if the token you bought matches the contract address.
How do I do that? Let’s say you bought Wakanda, go search for it on coingecko, copy the contract address, and put it on pancakeswap, if your Wakanda balance shows, then you are good to go, if it did not show, then it’s a fake contract address.
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