Identifying a shit/scam coins

[GreatArkansas]

I remember before I am more looking into their whitepaper.
If you are looking for a whitepaper, try also to do a plagiarism check their whitepaper because the whole content of their whitepaper is possible a copy-paste from other projects.
Besides that, identify also the allocation if there is any token sale, the smart contract code (technical). Another thing is the team behind the project, the team could contain impostors or fake people.

[Rikafip]

Big problem when it comes to investing in altcoins is that even if everything checks out (good idea, team is experienced, whitepaper decently written etc) there is a huge chance that project will fail and their token will be eventually worthless. That's just the nature of any startup, let alone crypto oriented one that has even bigger chances to fail.

[maydna]

~snip~

They might not run away, but they become just worthless anyway over the progress of the life of the coin. There are plenty of them just staying in the market for no reason and screwing with newer investors. This is just why I just stick to Bitcoin ever.

But most of those projects run away with investors' money, making the project a scam. But for a coin to stay in the market, it will be very difficult because there is no support from anyone, and it is just a matter of time for the coin to get delisted from the exchange. Yes, for the long term, using bitcoin is a very right decision, and I also agree with that. Maybe we can use altcoins for the short and medium-term.

[Peanutswar]

Many peopel are doing shitcoins we called those projects are rugs why people like it because it has a good profit once you make a good ride with it. Most of the rug projects are in the BSC because its easy to create a token right there, next always check their White paper if its ideal or not, always check the documentation to make sure but still even though they have a good flowering word right there it has a possibility to have a rug. Its all about risk but base on my experience its ideal to get a token in the coin market cap top 100 because they are most reliable than the BSC

[Issa56]

shit coins and scam projects can be identified by going through the project website, whitepaper and possible exchanges the project will be listed and how the roadmap is scheduled. Investing in alt coins might lead to investing in shit coins and scam projects. Its safer when we invest in bitcoin because there are lots of new projects coming up and they mostly turn into shit projects or scam.

You checking a project's website, whitepaper and possible exhange those not mean you won't still fall in scam coin, sometimes the scammers always make sure everything is really, it will be difficult for you to know that they are scammer, their whitepaper, roadmap and website is always perfect but at they end they still endup scamming their investors, so the only coin I will advise everyone to invest in is just bitcoin.

[kalihunter]

Thanks for nice topics about my post. I got so many useful thoughts about it. Thanks.

[libert19]

Stop depending on anyone, everyone is trying to make money off you. Just start investing with amount you can afford to lose, lessons will be learned you will become better.