Be careful of shitcoins

[Lordhermes]

Investing and buying shitcoin is at investors risks, here it is, there are many shitcoin that have been falling everb since they got listed but what save then is listing exchange, hey buddy, I will tell you that shitcoin you trade is on a poor exchange and probably high volume exchange could not ruin your money to zero as fast as that. Never buy shitcoin on low volume exchange. This is one if the factors that result in to dumped of shitcoin, exchange matters bro and let's keeps investing in altcoin that has future development.
It would be better to invest in some altcoin like cosmos, nano, ETH and all already making development, and not newly ones developed today.

[1714576442]

1714576442

[1714576442]

1714576442

[Shimmiry]

The coin was METP, I invested at the price of $0.0004 some weeks ago, but the coin is now at $0.000002, I invested $100 and it has now vanished, I do not even have $1 remaining again and it was a lost that really depressed me.

Lesson learned. You should be more careful next time. If you are to invest on shitcoins, be much careful.
Look closely to it's current value and do not hope that it will stay on it's average price for a long time. Sell them quickly if you already profited.
It's a dangerous investment if you did not watch and do some action in a particular period of time.

[reliable]

When I was new to cryptocurrency. I've already heard people talking about a new coin that can have a fair match with bitcoin. Luckily, I didn't believe those and instead did my research although I did my alt invested but didn't go as they have directed.

I was near into that trap and that's why I've learned that it's always bitcoin is the best crypto to invest.

Good idea

When you are new and do not know much about it then yes, it is correct to invest in the known coins or market movers like BTC, ETH etc which can give you returns once the upward moments happen. And, once you know and have good knowledge than can look for some other coins to invest which can grow multiple times in coming months.

[Insanerman]

The coin was METP, I invested at the price of $0.0004 some weeks ago, but the coin is now at $0.000002, I invested $100 and it has now vanished, I do not even have $1 remaining again and it was a lost that really depressed me.

That's a sad story  , first and foremost, why did you invested on that coin? Are you familiar on how shitcoins works the time you decided to invest into it?
I suggest dude that you should not invest what you can't totally afford to lose. That is to avoid depression that happened to you. Do not just jumped into something you didn't know.
Check first what's behind. Then make a decision, a rational one.

[alik111]

The coin was METP, I invested at the price of $0.0004 some weeks ago, but the coin is now at $0.000002, I invested $100 and it has now vanished, I do not even have $1 remaining again and it was a lost that really depressed me.

From your lesson I just made a little research about METP token and couldn't find anything special to buy it.Because its a newly launched token which isn't listed any big exchanges.Actually its only listed in one exchange.

So why you bought like these coins leaving other potential coins?

So before investing you just research about project fully.

[pooya87]

The coin mention is not a familiar name to most traders, so I guess he bought from some fraud exchange or from startups. I think $100 is still a size you can look away. People have lost 100 to millions of dollars in this space and have not recovered. I sometimes like to advice that any purchase at the moment is good choice of time and select less risk project in top marketcap.

that's probably true but i'd like to point out that name of the coin being familiar is not important at all. and the problem here isn't about the coin being unknown, the problem is a rather common one in this space which people "investing" in altcoins which is wrong by nature. "investment" demands longer term potential which is only possible if the coin has real utilities and real world applications. that is not true for altcoins and as a result they should only be traded in very short windows of time.

that is why majority of those who are losing money are losing it because they "invested" otherwise the traders who only get involved with an altcoin during its pump and get out before the dump comes never lose money overall (they may lose in a couple of trades but that loss is negated by the profit on other traders).

[boyptc]

When I was new to cryptocurrency. I've already heard people talking about a new coin that can have a fair match with bitcoin. Luckily, I didn't believe those and instead did my research although I did my alt invested but didn't go as they have directed.

I was near into that trap and that's why I've learned that it's always bitcoin is the best crypto to invest.

Good idea

When you are new and do not know much about it then yes, it is correct to invest in the known coins or market movers like BTC, ETH etc which can give you returns once the upward moments happen. And, once you know and have good knowledge than can look for some other coins to invest which can grow multiple times in coming months.

Bitcoin is the safest of them, it won't be able to be moved and stable so far.

Investing to different altcoins is a bit risky if you're not ready for losses. But if you know how to deal with it and you have a strategy which you're aware of applying, you can also make money like what others can do.

[Darkelf11]

Right now, btc is still the king and there's a reason why they're called shitcoins to begin with.

Those shitcoins are coined as 'shitcoins' because they are shit. They're poop. People cannot find it's use for themselves. Shitcoins doesn't contribute  to the market they are just nothing and they do not function as real coin in the market.

[Xembin]

Is all about coins, that is genius to Bitcoin, give Bitcoin a smooth research you would not miss it up.

[xearp]

How do people find new coins before they're listed on exchanges? Through forums or reddit? Researching developers active in the community?

[aioc]

I will advice people to analyse market and the coin that want to be used to trade or invest before buying such coin because some coins are just existing to take away your money before it becomes fully dumped.

This is the risk that you have to take when investing in a new coin there are no guarantees that the developers are dedicated to making their project top notch or competitive in the market, we have seen that on coins that were launch back 2018 and 2019 most of them are gone and out of the market, and there are still coins like that now.

[pooya87]

This is the risk that you have to take when investing in a new coin there are no guarantees that the developers are dedicated to making their project top notch or competitive in the market, we have seen that on coins that were launch back 2018 and 2019 most of them are gone and out of the market, and there are still coins like that now.

the developers' dedication doesn't change anything if the coin itself is garbage. look at all these bitcoin copies that are more than a hundred of them, some have very dedicated developers that are also throwing a lot of money at their shitcoin but it hasn't been able to grow for many years and still remains a shitcoin and their blocks remain empty because nobody uses them.

[DdmrDdmr]

<…>

There’s a whole section where these are announced here Announcements (Altcoins) and the fellow token childboard Tokens (Altcoins). Bear in mind that many of them have turned into a complete fiasco, so you really need to see which have got any substance to them (a hard enough task). Additionally, a large portion of them do not reach the Exchanges, and if they do, they are tailored for a quick pump&dump and that’s about it.

There are also plenty of review sites on the internet, but I’ve grown particularly wary of them, and find that they will very often grade projects with high marks that render dreadful results.