How to identify shitcoins?

[Bureau]

Bitcoin is not a shit coin which is the only coin that I can say it is not a shit coin. But as you want altcoins that are not shit coin, I will suggest you to look for coin lists on Coinmarketcap or Coingecko. The top listed coins are not shit coins. The more you go down checking the coin, the higher a coin can be a shit coin. Marketcap is important to know how valuable a coin is.

I agree that you cannot consider Bitcoin as a shit coin or even Ethereum. Some here would disagree with my judgment as they are the biggest supporter of Bitcoin and consider everything after it as a shit coin. To be precise my understanding of shit coin was meme coin, wherein I found out that those who invested in meme coins in the last bull run made more than those who recently invested in Bitcoin or Ethereum. Some coins that made on onto the list are Dodge and Shiba. Although I still feel Dodge is a shit coin as there is no development on that project still it is ranked on the first page of Coinmarketcap. Then what is the definition of a shit coin? Originally it was considered a joke until Elon Musk promoted it.

[Dr.Osh]

3. team made too many promises but never realized them

this is one of the biggest if not the biggest red flag for me it’s normal to set expectations even in the long run but at some point you’ve got to learn what’s realistic or not

too many people these days are blinded by flash and glitter that they will immediately put in their money into new coins that have promised them to get x amount of profit this is how usually a lot of people get scammed cryptocurrency is profitable but it’s not effortless you’re not gonna get rich quick just by investing x amount of value and then getting back profit 100x the next day

making promises to users is a natural thing, especially if it is in the long term. But you're right, we need to realize which promises can be kept, which ones can't. Many developers out there promise high profits, even when the price of the coins they own is not expensive. some other things, sometimes they sell with lots of bonuses during pre-sales. it could make their market down when it first releases, even when they promise great prices. However, over-promising is something to be suspicious of, especially if their project is not very good, has a white paper that is unclear, or perhaps lacks uniqueness, has an unclear team, or is slow to respond.

[Jonyshake71]

Don't know the definition imo, i think any coin could be trun into shitcoin. No matter before listing or after listing on exchange. Any newcoin can't be trusted until it get listed cause as you said, some project might be look super promising, not suppose to go but scam at the end. Even most shitcoins listed in dex and volume looks worse after few days later of listing. Memecoins can be called shitcoins. Although people still buying new coins with taking risky for better profit

[Adreman23]

Not all unsuccessful altcoins result from scams. Various factors, like a waning community interest, contribute to this, as attention shifts to more hyped altcoins. Consequently, holders may sell and move their investments elsewhere. There are multiple potential reasons. Therefore, it's crucial to stay attentive, consistently monitoring our held altcoins, and being prepared to sell if needed, preventing them from losing value in our wallets.

[deepblue01]

I know that all alt coins are not scam because the creator have already creates lots of coins which gives highest profit to its costumers but altcoins are larger in number so every coin is not able to give us profit.

I disagree if you said all altcoin, many of them are scams. highest profit mean highest loss for other people if their crypto will die soon.

If you get experience for the first time after it get the Value of zero then you should have to stop investment with altcoins. If you continuously repeat same thing always then this is your fault. Simple is that by wasting huge money in different altcoins you should invest in bitcoin so you will not be worried that your coins will attain zero value.

Even they loss a lot of money but it's still better than slot machine because they urge developers to create more interesting things in crypto in order for some crypto will be successful later.

Not all unsuccessful altcoins result from scams. Various factors, like a waning community interest, contribute to this, as attention shifts to more hyped altcoins. Consequently, holders may sell and move their investments elsewhere. There are multiple potential reasons. Therefore, it's crucial to stay attentive, consistently monitoring our held altcoins, and being prepared to sell if needed, preventing them from losing value in our wallets.

agree, many of them try but it just doesn't work. i have seen many simple crypto like memecoin, they get a lot of attention the price rise higher and higher then just die

[ichsan ardi]

Bitcoin is not a shit coin which is the only coin that I can say it is not a shit coin. But as you want altcoins that are not shit coin, I will suggest you to look for coin lists on Coinmarketcap or Coingecko. The top listed coins are not shit coins. The more you go down checking the coin, the higher a coin can be a shit coin. Marketcap is important to know how valuable a coin is.

In my opinion, it is very important to identify coins before buying, at least we have to look at the market cap so that we don't lose in investing unless our goal is just to speculate on meme coins, but it's important to remember, don't invest in crypto without knowing what we are buying, don't be fomo with the news. All you have to do is do your own research. There is no guarantee of making a profit in investing. There are still risks

[TelolettOm]

In my opinion, it is very important to identify coins before buying, at least we have to look at the market cap so that we don't lose in investing unless our goal is just to speculate on meme coins, but it's important to remember, don't invest in crypto without knowing what we are buying, don't be fomo with the news. All you have to do is do your own research. There is no guarantee of making a profit in investing. There are still risks

Of course, never buy any coin before you take a research on them. It will be very risky for you if you buy coins with a random way. I think it is not only about the market cap, we also need to analyze the fundamental factors for the coin. Don't buy coin because they are hype only, the hype may end in a short time. It is better to buy coins because they have strong fundamentals and look to have bright future because they have many top partnerships and support by big community.

[Ben Barubal]

As an investor, i did a lots of invest in altcoins. Those were suppose to be good that time with having good hype, good team and community. But with having all of thats, most of altcoins scam after a time! I wonder for some altcoins, they were suppose not to be go but they scammed without any reason! And hundreds of altcoins are in my wallet, which are turn into dead shitcoin now.

  It cannot be denied that most altcoins are actually used to scam investors who lack knowledge in this industry. Because legit crypto are different from crypto used for illegal things.

  This is because sometimes the problem with others who deliver words here on the forum platform is that the other terms that are being delivered are wrong, as if the former is the bad thing about cryptocurrencies. But it is not defined how it became shitcoins compared to legitimate crypto. That's why if you're a newbie here on the forum platform and don't know anything, you'll think that crypto is ugly because of the terminology that some say here.

[Nalain420]

As an investor, i did a lots of invest in altcoins. Those were suppose to be good that time with having good hype, good team and community. But with having all of thats, most of altcoins scam after a time! I wonder for some altcoins, they were suppose not to be go but they scammed without any reason! And hundreds of altcoins are in my wallet, which are turn into dead shitcoin now.

Identifying the shitcoin in crypto world is little bit difficult but other hand it also is so easy if you focus on some main factors which are important to know about any coin or shitcoin. First you can check out their projects Whitepaper, Roadmap and other activities they fulfill their promises or not what is written on them. You can also do your own investigation in every project you choose for investment just keeping some main factors in mind. I also recommend you for investment in coins (not personal advice just suggestion) only choose top altcoins like Bitcoin, XRP, Eth and much more you find out these altcoins on Coinmarketcap and other site provided visual details about altcoins. Just wait for right time to invest then your investment will not be waste.

[inthelongrun]

The easiest and most efficient way is to consider all coins as shitcoins unless proven legit. So people need to research every coin and project they are interested in. Bitcoin since 2009 has been the most proven among all decentralized cryptocurrencies. In terms of partnerships, Ethereum is the biggest platform pioneering smart contracts.

To start first, stick to the top 20 coins. People interested in crypto won't stop learning so the rest of the coins outside the top 20 will be explored and learned soon.

[Bureau]

The easiest and most efficient way is to consider all coins as shitcoins unless proven legit. So people need to research every coin and project they are interested in. Bitcoin since 2009 has been the most proven among all decentralized cryptocurrencies. In terms of partnerships, Ethereum is the biggest platform pioneering smart contracts.

To start first, stick to the top 20 coins. People interested in crypto won't stop learning so the rest of the coins outside the top 20 will be explored and learned soon.

Bitcoin is a different league and there cannot be any comparison of any other projects with it. That is why Bitcoin is Bitcoin and all other coins are known as Altcoin. Agreed with your presepective but apart from Ethereum there are other projects that have gain trust in time. I won't get into the names but the best way to find them is to check the the top 10 coins according to market cap on Coingecko.

[Mate2237]

As an investor, i did a lots of invest in altcoins. Those were suppose to be good that time with having good hype, good team and community. But with having all of thats, most of altcoins scam after a time! I wonder for some altcoins, they were suppose not to be go but they scammed without any reason! And hundreds of altcoins are in my wallet, which are turn into dead shitcoin now.

To identify an altcoins is not too hard because they moving to one direction. Their growth is very slow and the effort of the developers is to advertise them instead of working on them (the projects) more so that people will use them (the projects) and advert the projects and not the founders advertising them. I have not even seen an altcoins forum where they can market their projects but instead.

Most of the altcoins failed because of improper planning of the founders. I don't normally like altcoins but planning to invest on two which I know that is good to invest.

[Gozie51]

Most of the altcoins failed because of improper planning of the founders. I don't normally like altcoins but planning to invest on two which I know that is good to invest.

I hope you will be careful with this altcoin investment and choose the right coins because most will not rise to a profitable level. They are just moving slowly unlike bitcoin whose price change is obvious. However, while investing you need more of top altcoins like Ethereum or BnB. Then if you want cheaper altcoins you can pick altcoins listed in binance because of volume.

[Webetcoins]

Most of the altcoins failed because of improper planning of the founders. I don't normally like altcoins but planning to invest on two which I know that is good to invest.

The failure is not because of improper planning but it's because they can't follow up with the plans and roadmaps that they publish on their websites and whitepaper. The lack of funds or lack of proper management causes even genuine projects to crumble before even gaining any momentum and gaining enough trust from their communities and investors. Early investors start becoming worried as the project progresses, they start questioning the management and when they see nothing, they leave.

Whatever I've said is what I've experienced myself and it's not just made-up words. I've been a part of such a project, it has good products, a good vision, but they couldn't follow up with the roadmap and the project fell apart in the middle after launching a few products and couldn't continue for very long.

[GreenStox]

Usually the roadmap and development is not clear, it is done quickly and there is no preparation, usually there is an extraordinary increase within 1 day and then a deep decline too.usually described as a token that has a very large supply.

[bastian466]

Maybe hundreds of altcoins in your wallet change because market prices fall so their value decreases, just wait until market growth occurs which is called a bull market. because there is a saying that a bull market can encourage overall growth. Therefore, we must know the factors that influence market conditions if we want to start investing

[Obim34]

Knowing shitcoins is pretty easy for those who have experience on loosing there money from this Altcoins. This shitcoins are mostly over hyped, their white paper lacks contents and texture, looks like it was drafted by a child with so much unfulfilled promises, they always force you into keep buying more during their dump, maybe after during there presale they find it difficult to list, they keep postponing the date for the listing and even when they list usually on a smaller Cex that is not reputable to the hype the Devs made from the beginning.
This Shitcoins do not even last a period of 6 months before the group chat becomes inactive and Devs account banned certain things are to be looked into before investing in them by using little or spare money and taken profit immediately after there first pump, because if they should experience a dump they are never recovering from that

[nimogsm]

Maybe hundreds of altcoins in your wallet change because market prices fall so their value decreases, just wait until market growth occurs which is called a bull market. because there is a saying that a bull market can encourage overall growth. Therefore, we must know the factors that influence market conditions if we want to start investing

I think the author had in mind what characteristics a pre-fraudulent token has. Namely, how to understand that a project has no future and why it is better not to buy it so as not to incur losses. A bull market does not guarantee a rise in price even for shitty tokens.

[Bushdark]

Not all unsuccessful altcoins result from scams. Various factors, like a waning community interest, contribute to this, as attention shifts to more hyped altcoins. Consequently, holders may sell and move their investments elsewhere. There are multiple potential reasons. Therefore, it's crucial to stay attentive, consistently monitoring our held altcoins, and being prepared to sell if needed, preventing them from losing value in our wallets.

The way people are investing in altcoins are random that is why we keep seeing people selling there tokens holdings and using the money to buy next available and trending or new projects with the aim of making profits from the projects. We don't leave money we use to invest in a project for too long. We need to be taking our profits and investing in the next promising projects so we don't fall to prey of leaving the fund for when the project price will appreciate. It might not even appreciate and funds might be lost along.
.

[bastian466]

Maybe hundreds of altcoins in your wallet change because market prices fall so their value decreases, just wait until market growth occurs which is called a bull market. because there is a saying that a bull market can encourage overall growth. Therefore, we must know the factors that influence market conditions if we want to start investing

I think the author had in mind what characteristics a pre-fraudulent token has. Namely, how to understand that a project has no future and why it is better not to buy it so as not to incur losses. A bull market does not guarantee a rise in price even for shitty tokens.

Yes, I understand that sometimes there are tokens or coins that don't move at all, even though the market is in a period of growth in value, meaning it's bull season and I can only conclude that it doesn't move at all. then the coin is a genuine shitcoin and there are many other characteristics of a shitcoin