How to identify shitcoins?

[Mehedi72]

Shitcoins are making crypto market dumped and uninspiring investors for investment. Identifying shitcoins don't have pure ways. Cause there are many example of a project scamed, even after they raised million during token sale. But some ways should be noted. Like keep fake promising, plagiarized whitepaper, incomplete roadmap that doesn’t have accurate milestone, or always southing to buy their token foe benefit! Such project should be avoided. Actually It depends on an investor how do he want manage his fund and utilize it. Investor Should always measure risk before taking step forward investment. Better to buy established altcoin than new one

[shinratensei_]

The method of promotion. Whenever  someone is trying to invest in new project, it is better to stay calm and organised.
You also have have to check out in the team beside it. Project that promises something too sweet to be available it is a scam or a scam attention. For some, since it is not bitcoin, it is  a shit coin while some differentiates.

with meme coins in general the premise is that its gonna be the next shiba inu or something like that trying to lure people that have missed the train into joining the new emerging shitcoins meanwhile if you're observant enough you might already realize at first glance that its just some shit tier coins trying to over promise which of course will not be able to make their promises come true instead they will take advantage
of you big time.
eventually the coin will fall in no time and the promise of it becoming the next shiba inu will not getting realised. thats the reason its called shitcoin in the first place.
for the other shitcoin that was project based trying to have some fundamental though rather gimmicky you can simply observe their technical aspects.

[yohananaomi]

Identify shitcoins by conducting thorough research on the project's fundamentals, team, technology, community engagement, and use case. Be cautious of projects with limited information, unrealistic promises, lack of transparency, and high volatility.

Sometimes identification, as you say, is certainly not easy to do because sometimes there is too little information to be able to dig up. It's not even strange anymore that they are able to provide misleading information, and many will not be a little deceived by the intelligence they do.Fraudsters will continue to do everything they can to extract anything from the incoming funds, so I agree with you doing the best research you can get from all the things that might be used as guidelines. Don't hesitate to tell stories or ask questions in forums like this; you can also gain enlightenment.

[danherbias07]

That should be a learning experience for you. Finding a gem in the big market of cryptocurrency is not easy. Most of them will turn out to be scams and others would be rugpulls. They will show a good project with a legitimate team member but in the end there's really no item to back it up, all are just bubble that will burst when they find themselves in profit from all the invested money they took.
You learned it the hard way unlike others, but this should be the start of where you will change your perspective about altcoins. Don't just buy and hold, try to also pinpoint the selling point. But if you are a long-term investor then stay in this forum and you might see some good ideas on where you should put your money in.
IMO, stick with the top 100, the profits might take long but there's a higher chance you won't go zero.

[aseprebel]

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 "shitcoins" can be challenging due to the vast number of cryptocurrencies and the ever-evolving nature of the market. However, there are several strategies and criteria you can use to help you distinguish between legitimate projects and those that may be considered "shitcoins." Keep in mind that no method is foolproof, and there are always risks associated with investing in cryptocurrencies. maybe Here are some tips to help you to identify shitcoin, first Investigate the project's whitepaper or website to understand its goals and use case. If it lacks a clear purpose or real-world utility, it may be a sign of a shitcoin and last, do Research the project's team members and developers. A reputable project should have a transparent and experienced team. If the team is anonymous or inexperienced, be cautious.

[fzkto]

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 "shitcoins" can be challenging due to the vast number of cryptocurrencies and the ever-evolving nature of the market. However, there are several strategies and criteria you can use to help you distinguish between legitimate projects and those that may be considered "shitcoins." Keep in mind that no method is foolproof, and there are always risks associated with investing in cryptocurrencies. maybe Here are some tips to help you to identify shitcoin, first Investigate the project's whitepaper or website to understand its goals and use case. If it lacks a clear purpose or real-world utility, it may be a sign of a shitcoin and last, do Research the project's team members and developers. A reputable project should have a transparent and experienced team. If the team is anonymous or inexperienced, be cautious.

There is a good way not to become a victim of scammers is to choose time-tested projects. Of course, the profit from such investments will be much less than that of the supposed gem, but the risk will not be great either. Now every day hundreds of new altcoins appear on the market and guessing the right one is like winning a jackpot in roulette.

[bitzizzix]

To identify new projects, it's best to do research on who owns the project and who the founders are. And an identifiable owner and an owner that's well-known and has a good track record, that's a sign of a good project, and vice versa and it also depends on your knowledge to know who's involved in it.
And it's also important to know if there are big investors involved, if so, then who is investing in it. If any well-known investor invests in the project, then this is a positive sign.
And also a sign that an Altcoin could be a shitcoin is to look at its market capitalization, and if the capitalization is low and I mean low, less than 100 million, even the altcoin has a low market capitalization. And that's a sign that not much money is invested in it and it shows that it's not a good or questionable investment.

[Xal0lex]

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.

Here's a list of potential shitcoin metrics.

• Listing exclusively on decentralized exchanges such as pancake;
• Selling tokens through the site;
• No funding rounds;
• Lack of foundations as main investors;
• Any memtoken;
• Lack of white paper and documentation;
• Most of the offering centered in the hands of the team and investors;
• Anonymous team.

[m2017]

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.

That's how identify shitcoins. This is the most efficient way, but I'm afraid once the identification process is completed, it will be too late.

The best solution, for conservative crypto investors avoiding shitcoins, is not to engage with new projects, but only with the old and proven projects. Although among them there are plenty of shitcoins, masquerading as normal coins.

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.

Here's a list of potential shitcoin metrics.

• Listing exclusively on decentralized exchanges such as pancake;
• Selling tokens through the site;
• No funding rounds;
• Lack of foundations as main investors;
• Any memtoken;
• Lack of white paper and documentation;
• Most of the offering centered in the hands of the team and investors;
• Anonymous team.

Also, do they have to run bounty campaigns on bitcointalk?

White paper and documentation may exist for such projects, but most often either rewrites from other projects, or white paper and other documentation written very superficially and without technical details. For comparison, you can always look at a bitcoin's white paper and a shitcoin's white paper - the difference will be immediately noticeable.

[yazher]

Project that promises something too sweet to be available it is a scam or a scam attention. For some, since it is not bitcoin, it is  a shit coin while some differentiates.

Most shitcoins are just mimicking original roadmaps and whitepapers from other successful projects and in the accusation board, there are lots of them right there. But as we know, only a handful of newbies know that place and they don't seem to understand the first thing to look at when it comes to investing in new coins. They failed to comprehend the important thing which is to do their own research before deciding to invest.

[Richkiedx]

for me, the coins that don't keep up with bitcoin's movement are shitcoins

[ultrloa]

for me, the coins that don't keep up with bitcoin's movement are shitcoins

No its not always like that since there are coin pump when bitcoin goes down and coins dump when bitcoin goes up since it will depends on how the creator of those tokens join the hype. If they are just there created that coin for scamming expect that it will dump no matter what the current movement of bitcoin happen.

Just look at this signs if you want to spot shitcoins.

To good to be true pumps claim
Fake community
No clear roadmap or they don't follow what is actual written on their whitepaper.
Generic names idea or anything just for hype.

This are few indicators you can check.

[Yamifoud]

Project that promises something too sweet to be available it is a scam or a scam attention. For some, since it is not bitcoin, it is  a shit coin while some differentiates.

Most shitcoins are just mimicking original roadmaps and whitepapers from other successful projects and in the accusation board, there are lots of them right there. But as we know, only a handful of newbies know that place and they don't seem to understand the first thing to look at when it comes to investing in new coins. They failed to comprehend the important thing which is to do their own research before deciding to invest.

Very unfortunate because not all have the time to read and remember roadmaps and whitepapers on successful projects. But aside from this, there is still a lot of indication that a particular project is a scam, and that is those fake people behind it. But sadly, only a good researcher could find out that those who easily get fooled by these big/popular names as the members of the project will suffer the consequences.
We use our instincts as well, and it works sometimes but most of all, we do have not to hurry to invest in new projects.

[Silberman]

Very unfortunate because not all have the time to read and remember roadmaps and whitepapers on successful projects. But aside from this, there is still a lot of indication that a particular project is a scam, and that is those fake people behind it. But sadly, only a good researcher could find out that those who easily get fooled by these big/popular names as the members of the project will suffer the consequences.
We use our instincts as well, and it works sometimes but most of all, we do have not to hurry to invest in new projects.

Most shitcoins are incredibly easy to identify to the point a very small research of just a few minutes is enough to determine the developers behind those coins are up to no good, there are only a handful of coins which can pass your tests if you are serious, but even then those altcoins could still be shitcoins that are very well disguised, but at that point you will have no other option but to decide whether you want to take the risk with those coins or not without fully understanding the nature of the coin, and while your investment could go well, it could also go horribly wrong.

[savetheFORUM]

alts are quite profitable but much more risky in terms of investment, you need to do careful research, in my experience I can say that I invested in LUNA and lost money, but in ADA and TFS still earn money. So luck is also important here, as you never know what will happen in the crypto market

If we talk about life in general, luck plays its role in almost everything that you do in your life, so trading or investments are no exception. However, cryptocurrencies or the market is not totally based on your luck because there is a lot of work that you need to do to be able to get profit out of your investments, I know that some of the investments don't work out and you may lose money but that won't happen all the time if you have knowledge and experience.

Research and analysis are important for sure, especially if you are investing in altcoins that are relatively new in the market, but if your luck deceives you and you are destined to lose money, then you will lose money even if you invest in an altcoin that has been around for some time and is already doing good just like LUNA.

[blockman]

I'll give you a clue. One thing is that when you see a lot of people are pushing it hard and shilling it, that's a sign that they're pushing too much about the altcoin that they're supporting. But if you're persistent and you give them the benefit of the doubt, the next thing you'll do is to check the project itself, coming from the website, team, whitepaper, and all of those necessary stuff to know more about the project. Every single detail check them if they are proofed read or they're just like randomly have included it to their website together with the team that are working for it. While for the team, you can conduct your own research about searching their names like in LinkedIn or any website where they can be staying and see if they're for real or just grabbed names and photos.

[|MINER|]

It is actually a common question that how to recognize shitcoin. It can be different from many people. But I think most sit coins come based on hype especially when the hype goes on, they attract users by showing more profit etc. I say there is no need to invest in all new alternative points if you have less knowledge about it. And if you want to invest, you should initially start with a very small mount so that the loss is less.

[Nrcewker]

If any altcoin is not backed up by popular celebrities or personalities or brand or company, then definitely a time will come when it will become shitcoin. This happens with many alts, and many people face huge loss due to this. If you want to be on the safe side, then it’s better to invest in coins which are there in the market for many years and whose marketcap is high. If you greed for more and try new coins, then definitely the chances of getting shitcoins will increase, and you will eventually face loss.

[bitgolden]

Most shitcoins are just mimicking original roadmaps and whitepapers from other successful projects and in the accusation board, there are lots of them right there. But as we know, only a handful of newbies know that place and they don't seem to understand the first thing to look at when it comes to investing in new coins. They failed to comprehend the important thing which is to do their own research before deciding to invest.

Very unfortunate because not all have the time to read and remember roadmaps and whitepapers on successful projects. But aside from this, there is still a lot of indication that a particular project is a scam, and that is those fake people behind it. But sadly, only a good researcher could find out that those who easily get fooled by these big/popular names as the members of the project will suffer the consequences.
We use our instincts as well, and it works sometimes but most of all, we do have not to hurry to invest in new projects.

I think it's quite obvious that not many people do the research they suppose to do for an investment like this and that does end up being a little bit of a trouble for them. I know that it is not that easy but we need to be careful with it without a doubt.

I think it is quite tough to make it work that way, so we should be doing something that would be a bit of a trouble for them on the long run. It is not that tough, but if you are researching it, then you will make a profit and people who do not research well, which is a simple thing, they end up with a lot of trouble. I know that it is not going to be easy, but at the very least we could make it work one way or another that could profit people very easily.

[Cadaver20]

Can you name some shitcoins in your wallet? I think you are mixing up coins and tokens. Because hundreds of coins didn't turn into shitcoins. Only a couple of coins have turned into shitcoins.
But this can be the case with tokens. Because tokens are in demand only for a certain period after which most of the tokens become dead.