How to quickly identify an altcoin?

The number of coins on the market is overwhelming, and new projects are emerging in an endless stream. Do you have any small tips to share? Or perhaps you'd like to share your own hard-earned lessons? I'm looking forward to hearing from you.

Quote from: shanhaigamefi on April 11, 2024, 09:02:40 AM

The only tip that you will need to quickly identify an altcoins is, any coin that is not Bitcoin is an altcoin. There's no other way, if it does not having the tracking symbol of BTC on an exchange it is an altcoin. Altcoin is the short form of saying alternative cryptocurrency because all coins that are not Bitcoin are altcoins.

OP, no algorithm will accurately recognize the perspective of a certain altcoin. You have to do your own research and make a decision based on that.
What I pay attention to is transparency, for example about team members and who are the people behind the project.
The next thing I look at is the quality of the community around the project.
In both cases, if I notice increased paid or fake activity, I don't even go to research.

Quote from: $weetne$$ on April 11, 2024, 09:09:00 AM

I believe that the OP did not ask how to distinguish an altcoin from Bitcoin, but how to recognize an altcoin that has any potential without being a short-term scam.

Not easy, especially with the so many rug pulls going on

If you want to know how many rug pulls go off every other minute, just keep your eyes glued on dextools or Dexscreen on the newly minted tokens. When I was trading tokens on solana, I used other tools to first filter out potential rug pulls and honey pots like solsniffer, rugcheck or solana tracker.

Of course, they are so many other tools out there for tokens on other blockchain. After the filtering, you now have to check out the team, potential use cases of the project, community hype etc. In this step, you use your brain.

Customize your search tools, as the more information you get, the more useful information you can extract from it, the more profits. Subscribe to Telegram channels, updates from ---> https://coinmarketcal.com/en/, learn how to search on Google correctly and you will get information. How you deal with this information will determine the amount of your profits.

listing may be considered an opportunity to buy before the listing.

Rich Quack (QUACK): Bitget lists Rich Quack (@richquack) with QUACK/USDT pair at 11:00 AM (UTC).
LBank lists StarkPepe (@StarkPepeCoin) with SPEPE/USDT pair at 12:00 UTC.
....

Quote from: examplens on April 11, 2024, 12:52:03 PM

OP, no algorithm will accurately recognize the perspective of a certain altcoin. You have to do your own research and make a decision based on that.

I think the question is about where to look if I want to know information about a potential airdrop, a listing opportunity, or an altcoin whose price may rise, and frankly, some people can access information that you can only get with a little research.

Don't go along with the flock because doing that is going to make you blind being assisted by other blinds. My tip is always to take time before you invest, DYOR as we say and gather all of the resources that you can use for your decision whether to buy or not that altcoin you've found. Some of your friends or whoever you look up to might suggest something but don't be too reliant on them because no one has the control to the market and even with the shilled altcoins by them.

Quality of community members, how official members communicate with community, do they give frequent updates, do project has ties with other prominent projects.

I don't bother with projects who do fake engagement either, as examplens said above, you may ask how do you know that project is doing fake engagement, I'd say it comes from experience.

Some projects appear just to ride on the hype train, as in AI, BRC20 and meme coins being a recent trend, there are more scam in these three categories than otherwise.

I was just recently rugpulled in solana memecoin despite being in crypto for long. Experience is best teacher, invest only what you can afford to lose, and you'll do fine even if things don't turn out as you'd expect plus lesson learned will make you do better next time.

Good luck!