This article will give you a complete information about the token sniffer and how to use it. At the end of this article, you’ll be able to determine if Token Sniffer is suitable for you or not.
What is a Token Sniffer?
Token Sniffer is a platform that helps cryptocurrency investors to detect potential malicious contracts, hacks, and exit scams aka rug pulls. The website scans crypto contract addresses for scams, presents users with helpful token metrics, and also stores a database of scams and hacks.
You can use the Token Sniffer platform to detect detect if a new project is a scam or get vital information regarding any new project you are planning to invest in.
How to use Token Sniffer
Token Sniffer is easy to use, all you have to do is to copy the token’s contract address or the name of the token, visit Token Sniffer and past the contract address or type the name of the token in the window where you have ‘search token by name or address’.
Once you are done with that, tick the ‘I’m not a robot’ box and you will get major details about the cryptocurrency.
The platform will give you an audit report of the token and also the audit score. This will help you determine if the token is possibly a scam token or not.
Details of each audit will include;
- Swap Analysis: You will be informed if the token is sellable or a honeypot. The fee percentage for selling and buying of the token will also be presented to you.
- Contract Analysis: You will know if the contract source is verified or not, you will also be notified if there were similar contracts deployed prior to this particular one and also get to know if the source contains a fee modifier.
- Holder Analysis: this will give you information about the total tokens burned and the percentage of tokens contained in the owner/creator’s wallet.
- Liquidity Analysis: here is where you will get to know if the token has adequate liquidity or not. Every other important details regarding the token’s liquidity will be presented here.
Is Token Sniffer reliable?
Token Sniffer is a god way to detect potential scam projects but you should not rely solely on the information provided on the platform. You should do your own analysis before investing on any token. Sometimes, details about tokens on presale are not always accurate, this is why you should not rely entirely on the information you get from the website.
Is Token Sniffer Legit?
Token Sniffer is a legitimate website that has scanned over 1,146,924 tokens and detected over 77,683 scams/hacks. The website is one of the trusted platforms to scan tokens for possible scam.
BSC Token Sniffer
You can use the Token Sniffer platform to scan tokens that are built on the Binance Smart Chain. Like we explained above, you can make use of the contract address of the tokens of their names to conduct the search on the Token Sniffer website.
Token Sniffer Erc20
You can also use the Token Sniffer platform to conduct audit on crypcurrencies that are on the Ethereum network. Simply copy their contract addresses or name and use it to conduct the search.
Watch video How To Use Token Sniffer below.
