Checklist: 7 things to check before buying a Solana token
Buying a new token takes seconds; checking it takes a couple of minutes. This checklist covers what matters most on Solana, in the order we look at it.
1. Mint authority
If the mint authority is still active, the creator can create new tokens and dilute everyone. For a memecoin it should be revoked.
2. Freeze authority
An active freeze authority lets the creator freeze the tokens in your wallet. You could buy and then never be able to sell.
3. Liquidity
Check how much liquidity there is and whether the LP tokens are burned or locked. Thin or unlocked liquidity can disappear in a single transaction.
4. Holder concentration
Look at the top holders, excluding pools and exchange wallets. If one wallet has more than about 20% of the supply, or the top ten together have most of it, a single sale can crash the price.
5. Creator wallet
How much does the creator still hold, and have they launched tokens that were rugged before? A wallet that launches a new token every day is a red flag.
6. Age and selling
Very young tokens carry the most risk. Check that other wallets have actually sold, and on Token-2022 tokens look for transfer fees, transfer hooks or a permanent delegate that can move your tokens.
7. Website and socials
A website and social accounts do not make a token safe, but a missing or copied website, a brand-new account and deleted posts are more reasons for caution.
The Nemira scanner runs this checklist for you and explains each result in plain words. It is a starting point for your own research, not a guarantee.
Scan a token