Why can't I sell the crypto after I bought it in the wallet?
Why can't I sell the crypto after buying it?
After purchasing certain crypto in your wallet, you may find that you are unable to sell them. This situation usually occurs with so-called 'Pixiu tokens.' The main reasons for being unable to sell include:
Coin sale status controlled by the project: The project has not disclosed or authenticated the allowlist addresses and code for the coin. The project can restrict or disable the sell function at any time. While customers can buy and trade normally, they may be restricted from transferring or selling after the price increases.
Smart contract with adjustable tax rate: Some coin contracts support dynamically adjusting transaction tax rates. Project can set extremely high sell taxes, making it nearly impossible for customers to sell or requiring them to pay exorbitant costs.
onchain, the above situations will be marked as high-risk coins, and the platform will also restrict the buying of such coins.
How to avoid buying Pi Xiu coins?
Choose reputable projects and official channels: Try to invest in mainstream coins and avoid purchasing from unknown sources.
Use audited decentralized exchanges: Choose platforms that have undergone security audits to reduce the risk of encountering malicious coins.
Understand the project background and community reputation: Before investing, review project information, white papers, and community feedback to guard against scams.
How to perform coin risk assessment on the official OKX Wallet website
Open the OKX Wallet official website and locate the search box at the top of the page.
2. Click and enter the coin name or futures address, select the target coin found, and click to query.
3. Click the [Risk] button at the top right of the coin K-line chart to view the detection results, including Overview and Coin Detection, If it indicates high risk/suspected Pi Xiu coin, be extra cautious; even coins marked as low risk/unknown require vigilance to see if the project retains the ability to change sales permissions.
You can combine on-chain trading volume, liquidity, the number of holding addresses, or continuous monitoring to rationally assess the risks of buying coins.