Since gaining mainstream popularity, cryptocurrency has been overshadowed by a fear of scams. 'Rug-pulls' are when a cryptocurrency gains thousands of pounds of investment only to disappear after launch with its user's money. Obviously, this is a huge concern for any investor in cryptocurrency.
However, some coins are joining locked liquidity pools to prove their legitimacy. This essentially means that the tokens are put into a smart contract, preventing the opportunity of there being 'rug-pull'. The smart contract has a time lock on it and ownership is relinquished for this set period, preventing even the developers from recovering funds within the pool.
Using a locked liquidity pool makes Parody (PARO) not only a reward-generating coin but a reliable one. This increases the potential of the project to make substantial returns in the future and adds a layer of security if you choose to hold onto the coin. If the cryptocurrency you are trading does not have a locked liquidity pool, like Parody (PARO), you run the constant risk of the token's value plummeting at any moment.
Parody is also in the process of being audited by CertiK, another reliable way to determine the legitimacy and reliability of a coin. CertiK puts the coin through a rigorous vetting process, exposing anything underhand that might be occurring. They are a leading platform for blockchain protocols that pledges to secure the cyber world as much as possible, aiming to prevent any rug-pull cryptocurrencies from scamming its users. They do this by reviewing the code's logic, making sure that the programme works as intended, and flagging any vulnerabilities, errors, or risks in its foundation.
By pooling a new presale token alongside an established coin like Ethereum (ETH) or Binance (BNB), we can ensure its security for the duration of its smart contract lock. In this process, the liquidity tokens are locked investors can freely exchange with more confidence. This means that you can use your trust in popular cryptocurrencies like Ethereum (ETH) and Binance (BNB) to secure the legitimacy of a new, presale coin like Parody (PARO).
In cryptocurrency there is always a potential risk of scams or hacks, and it is important to remain vigilant. However, with platforms such as CertiK thoroughly analysing the code's logic it is possible to invest in a presale with some reassurance that the coin is legitimate. Investing in a presale coin with a locked liquidity pool further helps to avoid rug-pulls and a complete loss of investment through a scam. It is therefore much safer to invest in coins such as Parody (PARO) now than it was a few years ago.
Presale: https://presale.parodycoin.io/
Website: https://parodycoin.io/
Telegram: https://t.me/PARODYCOIN_OFFICIAL
Twitter: https://twitter.com/ParodyCoin
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.