Key to Being Early in Crypto
Being early in the cryptocurrency market is crucial for maximizing profits. When you enter a project at low prices and others follow, token prices rise, allowing you to reap significant rewards. In this article, we will reveal the secrets to being early in the next big crypto gem.
How to Be Early in a Gem?
To be early in the next big crypto gem, there are two key factors to consider. First, you need to know how to use on-chain tools like Dex Screener, which helps identify wallets that are making substantial profits. Second, an easy-to-use Telegram Bot can help you monitor these wallets and follow the smart money.
Step #1 – Start Off With Dex Screener
Dex Screener is a DeFi DEX aggregator that provides comprehensive data on tokens listed on DEXs. Many tokens are listed on Dex Screener before other platforms like CoinGecko or CoinMarketCap, making it an ideal place to discover gems early.
To learn more about Dex Screener, refer to our previous research. Now, let’s dive into how you can use it to get in early on gems.
Firstly, let’s take the example of a popular memecoin called $GROK. On its info page on Dex Screener, click on the “Top Traders” tab to see the wallets that have made significant profits trading $GROK. Make sure to choose a wallet that has bought tokens rather than the original project wallet.
For instance, let’s look at wallet #2, which has spent $1,629 of ETH buying $GROK and sold $853,500 worth of $GROK. This translates to an impressive profit of $851,900, indicating a profit of over 500x. You can view the wallet on Etherscan by clicking on the square icon under the “EXP” tab.
Your task is to compile a list of wallets that have made such profitable trades. Go through various popular trading pairs besides $GROK and shortlist around 20 wallets for the next step.
Step #2 – Head on Over to DexCheck
DexCheck offers crypto and NFT analytical tools, and you’ll be using its Crypto Address Analyzer tool to identify consistent performers across multiple tokens.
Copy and paste each wallet address you shortlisted from Dex Screener into the analyzer tool. Evaluate each wallet’s trading performance and select about 5 wallets that demonstrate consistency and profitability. This prepares you for the final step.
Step #3 – Staying Updated on Trades With Eth Token Explorer
For the last step in being early in the next big crypto gem, use Telegram and search for “Eth Token Explorer” in the app. Look for a bot with the same name.
Note that there are scams on Telegram, so be cautious of bots or individuals asking for your seed phrase. Never install suspicious programs or download files through Telegram.
In the Eth Token Explorer bot, click on “Add Wallet” and add the five shortlisted wallets with different names. You will receive alerts through Telegram whenever these wallets make any trades.
Conclusion
By following these three steps, you can receive real-time updates on each wallet’s trades. This allows you to “copy-trade” your favorite wallets and ride the wave of profitability alongside expert gem hunters. However, keep in mind that each wallet has different risk appetites, and not all trades may be profitable. Exercise caution and practice risk management when using this method to get in early on gems.
Hot Take: Maximizing Profits in Crypto
Being early in the cryptocurrency market is crucial for maximizing profits. By utilizing on-chain tools like Dex Screener and DexCheck, and staying updated on trades through Eth Token Explorer on Telegram, you can identify potential gems and follow the smart money. However, it’s important to exercise caution and manage risks effectively when copying trades from expert wallets. Stay informed and seize opportunities to capitalize on the next big crypto gem.
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