🔍How to find Tokens
Using BONKbot is easy. But finding tokens to invest in? That's the hard part!
There are three parts involved with finding tokens, they are all equally important for your own safety.
Checking tokens for safety
Analyzing tokens
Finding new coins to invest in
How do you check if a token is safe?
Most importantly - DYOR - which stands for Do Your Own Research. Never trust someone else's advice, but verify for yourself.
Before buying any token, there are a few key things to check beforehand, these include LP Burnt, Mint Authority Disabled and Freeze Authority Disabled.
Read on to understand what each of these points mean
LP Burnt: If the liquidity pool is burnt, then the developer can’t withdraw the funds because the token creator can't remove liquidity which makes your investment safer. You can use platforms like BirdEye or rugcheck.xyz to see if the liquidity pool is burnt.
Mint Authority Disabled: It's vital to check that the mint authority is disabled so the creator can't mint infinite tokens and dilute the token's value.
Freeze Authority Disabled: Slightly less common, but you must check if the creator of the token can freeze your tokens. If freeze authority isn't disabled, the token developer could potentially freezer your tokens so that you cannot trade or transfer them!
These points will help you stay safe - but there are many other things you should be looking for!
How To Research A Token?
The first step of researching any token is checking if it is safe, as outlined above.
Once you've done your safety checks, you can move on to analyzing.
Socials: Any decent token should have some active social media presence on Telegram or Twitter. This shows there is effort from the developers, and helps to gather community around the token.
Market cap: There is no "safe" market cap in memecoins, but the lower the market cap is the more risk you take on. With a small market cap there is a higher chance that there are a couple of small holders who have a large concentration of the supply, causing the coin to be more volatile.
Website: Some tokens have their own website. Having a funny website could be a good sign.
Rugcheck : Rugcheck is a good website to check if the token is healthy (worth to buy) or not. This will help you screen for the essentials like Mint Authority, Freeze Authorityand LP Burntthat we discussed at the start of this page.
Now that you have learnt the basics of what to look for when analyzing coins - how do you actually find coins?
How To Find Coins And Tokens
There a few ways to find good coins, both Birdeye and Dexscreener are massively popular crypto charting websites. You can use them to look at how a coin is doing, and they will also give you filters to help you search for coins. You can also get involved on Telegram, Twitter and Discord to stay abreast of any new coins.
You can use Birdeye and Dexscreener to filter new coins based on time-frames and volume.
You may choose anything above $500k Market Cap, and at least 1.5m in 24h volume. This helps you filter for relevant coins, and you can then investigate the socials, and other key features.
This will give you a selection of coins that maybe have a higher likelihood of doing well. Once you find a coin you like, you can paste the coin address (CA) into BONKbot and you will be able to buy it. More info can be found here Buying Tokens.
Conclusion To How To Find Tokens
Ultimately - while BONKbot is easy to use to trade on telegram, the hard part is finding the coins that will do well. There is no guarantee that coins go up, and in fact most coins do go down.
If you choose to buy a coin, you should ensure it meets the minimum safety requirements (LP burnt, Mint Authority Revoked, Freeze Authority Revoked).
Find a coin with socials and a unique idea
To help you find these coins you can use Dexscreener or Birdeye.
Risks Of Buying Memecoins
If I can give you any advice, then I would say that you must understand the risks of trading memecoins.
Buying will lead you to lose money most of the time. If you choose to invest, you should look for something that is fairly uniquel, but there is never any guarantee that you will make money!
Last updated
