How to identify shitcoins?

[lixer]

but its not recommended to invest in shitcoin for the reason that there are better coin out there with better long term prospect, i mean compare shitcoin gain to some fundamentally good coins like arbitrum and the others.

Shitcoin is gambling. If you are lucky you will get big profits because of the manipulation carried out by the team or whale. But when you buy shitcoins because of FOMO, you will most likely experience losses. It is not an investment and I also do not recommend investing there because it is not an investment but a gamble.

That's why they keep advising us not to invest a huge amount of money in altcoins, because their price can look funny sometimes that will make you to regret why you took such decision in the past to embrace such shitcoins. I think, there are some potential altcoins you will invest little capital in this bearish season, and you will have something to harvest when the bullish season appear in the market because their teams are in so much concern of their investors to experience positive results from their investment. And it is difficult for investors to make a good income from gambling, because shitcoins are like gamble, it can favour you today by making a huge amount of income and not favour you tomorrow.

One of the biggest mistakes that a lot of investors make is holding on to their shitcoin stacks, buying billions of tokens worth nothing, and then hoping that they will eventually earn a fortune out of those tokens because they are a lot. These are the people who don't understand how things work and how a token with an unlimited supply cannot gain much value no matter what happens, so they just stay optimistic and hopeful that the token they are holding will magically go to $1.

Most of the shitcoins that we see in the market and those that are released every now and then are basically pump-and-dump tokens and they won't have any value in the future, so the best practice if you have bought them is to sell them as soon as you get the opportunity and exit the market.

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[Cornia]

When each project launches its own token in the market, the hype of those tokens goes on for a while. After a while those tokens are no longer promoted and when new tokens come in the market, investors always look towards new tokens. As a result, old tokens become dead after a period of time. So it is not right to hold tokens for a long time.

[lombok]

And hundreds of altcoins are in my wallet, which are turn into dead shitcoin now.

You are really investing in a shitcoin that has just emerged and is hyped in my opinion. If you are serious about investing in altcoins. Choose an old coin, one that has been around for more than 5 years, has an active developer, has project development and a clear roadmap for the future. LTC, ETH, BNB, XRP, XLM, ETC and so on are old Altcoins that have survived even the worst bull and bear markets.

[Macoach]

Before investing, it's always a wise move to conduct your research, as you're taking a risk with your hard-earned money. Spotting low-quality or "shitcoins" right from the start can be challenging, so it's a good idea to stick with well-known options like ETH, BNB, and others. Avoiding unwise investments is definitely the cooler choice! 😎

[kevindjunaidi]

most of the new coin are shitcoin, therefore to avoid shitcoin, then I suggest you not to invest in new coin and only invest in popular coin (safer), therefore I suggest you only invest in Bitcoin, because Bitcoin is the king of cryptocurrency, so Bitcoin will not become shitcoin and Bitcoin price will continue to increase, therefore by investing in Bitcoin, you will get a big profits in the future.

[yazher]

We have been observing similar trends in so many things namely altcoins, hype projects, memecoins, field farming and so on with more innovative names to up in the near future. The investors need to identify them early to avoid investment or if they do invest, get out early to minimise losses. Without that insight they are losing and will continue to lose coins from borderline scams like these.

I think we are at a stage where even background checks on teams and reviewing the papers is misleading and the way to be safe from scams is to not look at anything that is non-bitcoin.

Sometimes even if you already know the team behind it and they are transparent and also always have AMA with their investors, when their plan fails and they don't get enough funds to develop the project which were stated in their roadmaps, you end up wasting your money because after that all you will get is false promises from those bastards. They are not fair enough to return the money of their investors but instead, they are planning to make it seem they are cooking something that will make their project successful which is not really true at all.

[Japinat]

We have been observing similar trends in so many things namely altcoins, hype projects, memecoins, field farming and so on with more innovative names to up in the near future. The investors need to identify them early to avoid investment or if they do invest, get out early to minimise losses. Without that insight they are losing and will continue to lose coins from borderline scams like these.

I think we are at a stage where even background checks on teams and reviewing the papers is misleading and the way to be safe from scams is to not look at anything that is non-bitcoin.

Sometimes even if you already know the team behind it and they are transparent and also always have AMA with their investors, when their plan fails and they don't get enough funds to develop the project which were stated in their roadmaps, you end up wasting your money because after that all you will get is false promises from those bastards. They are not fair enough to return the money of their investors but instead, they are planning to make it seem they are cooking something that will make their project successful which is not really true at all.

Perhaps, that was a problem for many projects as they just looked promising but had no funds to continue their development making them stop and make these early investors suffer losses. This is the reason why I'd never rush and invest in new projects but rather wait for their improvement and market development just to get some assurance that they will survive. Probably, 6 months to 1 year from its launching, it was already enough time to assess the project if they really had a fortune based on their market performance and that would be the time to decide.

[Biznesmen]

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.

Shit coins are crypto currencies that have no value for any purpose. How do we spot one?Developers are mysterious; the white papers have huge promises but no fixed road maps; projects seem to be copied or too generic; there are fewer holders; and there is very little liquidity. Shit coins are considered bad investments, especially for the long term. Mainly, there are several meme coins people keep pumping; these are shit coins. There is money to be made in the short term, but in the long term, they will get burned. Still, there are people who invest in shitcoins, knowingly or unknowingly. And many websites and videos, like how to find good shitcoins early that will pump 100x, crazy gains, huge profits, etc. So make sure you know what you're buying.

[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.

Shit coins are crypto currencies that have no value for any purpose. How do we spot one?Developers are mysterious; the white papers have huge promises but no fixed road maps; projects seem to be copied or too generic; there are fewer holders; and there is very little liquidity. Shit coins are considered bad investments, especially for the long term. Mainly, there are several meme coins people keep pumping; these are shit coins. There is money to be made in the short term, but in the long term, they will get burned. Still, there are people who invest in shitcoins, knowingly or unknowingly. And many websites and videos, like how to find good shitcoins early that will pump 100x, crazy gains, huge profits, etc. So make sure you know what you're buying.

yes im agree and if I may add an opinion, i think Be cautious of cryptocurrencies that promise guaranteed high returns or make claims that seem too good to be true. High-pressure sales tactics and get-rich-quick schemes are common in scam projects.

[strunberg]

One of the biggest mistakes that a lot of investors make is holding on to their shitcoin stacks, buying billions of tokens worth nothing, and then hoping that they will eventually earn a fortune out of those tokens because they are a lot. These are the people who don't understand how things work and how a token with an unlimited supply cannot gain much value no matter what happens, so they just stay optimistic and hopeful that the token they are holding will magically go to $1.

Most of the shitcoins that we see in the market and those that are released every now and then are basically pump-and-dump tokens and they won't have any value in the future, so the best practice if you have bought them is to sell them as soon as you get the opportunity and exit the market.

I can assume that those who collect $0.000xx worth of shitcoins and then hope to get $1 are greedy people and don't want the process of collecting money. They don't know that it is a delusion that will never come true. I mean what causes the coin to rise 100x but they have a huge total supply?
Yes I agree with you. If you want to buy shitcoins, it's better to buy and sell directly when you get a little profit. In terms of investment, I prefer BTC. Without doubt.

[AbuBhakar]

I can assume that those who collect $0.000xx worth of shitcoins and then hope to get $1 are greedy people and don't want the process of collecting money. They don't know that it is a delusion that will never come true. I mean what causes the coin to rise 100x but they have a huge total supply?
Yes I agree with you. If you want to buy shitcoins, it's better to buy and sell directly when you get a little profit. In terms of investment, I prefer BTC. Without doubt.

It’s possible on less liquidity shitcoin whic a few purchase can give a huge price impact to the token price. It's not greed hoping for a shitcoin turns to a dollar as long as this holder doesn't invest what he can afford to loss. I manage to purchase some of this kind of shitcoin that print more than x100 of my investment but I only put small percentage of money since the price is extreme volatile.

In general, investing in shitcoins is not being greedy but only high risk high reward so it's important to don't over invest so that you can still cope once your investment loss.

[radjie]

We have been observing similar trends in so many things namely altcoins, hype projects, memecoins, field farming and so on with more innovative names to up in the near future. The investors need to identify them early to avoid investment or if they do invest, get out early to minimise losses. Without that insight they are losing and will continue to lose coins from borderline scams like these.

I think we are at a stage where even background checks on teams and reviewing the papers is misleading and the way to be safe from scams is to not look at anything that is non-bitcoin.

Sometimes even if you already know the team behind it and they are transparent and also always have AMA with their investors, when their plan fails and they don't get enough funds to develop the project which were stated in their roadmaps, you end up wasting your money because after that all you will get is false promises from those bastards. They are not fair enough to return the money of their investors but instead, they are planning to make it seem they are cooking something that will make their project successful which is not really true at all.

Perhaps, that was a problem for many projects as they just looked promising but had no funds to continue their development making them stop and make these early investors suffer losses. This is the reason why I'd never rush and invest in new projects but rather wait for their improvement and market development just to get some assurance that they will survive. Probably, 6 months to 1 year from its launching, it was already enough time to assess the project if they really had a fortune based on their market performance and that would be the time to decide.

Agree with this, don't be too hasty in investing, do research on the development of the project in the next few months. If the project in question has a definite goal, it is likely that the team will continue to try to achieve success again.

[iv4n]

most of the new coin are shitcoin, therefore to avoid shitcoin, then I suggest you not to invest in new coin and only invest in popular coin (safer), therefore I suggest you only invest in Bitcoin, because Bitcoin is the king of cryptocurrency, so Bitcoin will not become shitcoin and Bitcoin price will continue to increase, therefore by investing in Bitcoin, you will get a big profits in the future.

Well, some maxis would say that Bitcoin is the only coin, all others are shitcoins. I am not so strict, I think there are good projects around, with great potential. I would never say that Litecoin and BNB are shitcoins (and some others), they are here to stay, simply many people are using them, and I believe they will be even more popular in the future. So I guess we can say that shitcoins are coins that nobody uses, except scammers who manipulate their prices and lure other people with big promises about fast & huge profit.

[Teraboy]

most of the new coin are shitcoin, therefore to avoid shitcoin, then I suggest you not to invest in new coin and only invest in popular coin (safer), therefore I suggest you only invest in Bitcoin, because Bitcoin is the king of cryptocurrency, so Bitcoin will not become shitcoin and Bitcoin price will continue to increase, therefore by investing in Bitcoin, you will get a big profits in the future.

not all new coin shitcoins though, there are many good coins, if every new coins judged as shitcoin then there will be no innovation at all.
after all the new coin also need support so that they can grow, most of the shitcoins are just those deployed without any product backing it up, quite different with good coins.

[serjent05]

most of the new coin are shitcoin, therefore to avoid shitcoin, then I suggest you not to invest in new coin and only invest in popular coin (safer), therefore I suggest you only invest in Bitcoin, because Bitcoin is the king of cryptocurrency, so Bitcoin will not become shitcoin and Bitcoin price will continue to increase, therefore by investing in Bitcoin, you will get a big profits in the future.

not all new coin shitcoins though, there are many good coins, if every new coins judged as shitcoin then there will be no innovation at all.
after all the new coin also need support so that they can grow, most of the shitcoins are just those deployed without any product backing it up, quite different with good coins.

I see any coins that require crowdfunding a shitcoins.  The main reason is that they don't have funds to start the project, they can't convince any private investors to fund their project so they resort to crowdfunding that usually got carried away by hype and empty promises.

[lienfaye]

most of the new coin are shitcoin, therefore to avoid shitcoin, then I suggest you not to invest in new coin and only invest in popular coin (safer), therefore I suggest you only invest in Bitcoin, because Bitcoin is the king of cryptocurrency, so Bitcoin will not become shitcoin and Bitcoin price will continue to increase, therefore by investing in Bitcoin, you will get a big profits in the future.

not all new coin shitcoins though, there are many good coins, if every new coins judged as shitcoin then there will be no innovation at all.
after all the new coin also need support so that they can grow, most of the shitcoins are just those deployed without any product backing it up, quite different with good coins.

I see any coins that require crowdfunding a shitcoins.  The main reason is that they don't have funds to start the project, they can't convince any private investors to fund their project so they resort to crowdfunding that usually got carried away by hype and empty promises.

That's true. It's easy for the dev to run away after accumulating significant amount from the investors who trusted them. The reason why it's hard to find a good coin from the new ones because you have to dig deeper to see if there's a gem among them.

To identify a shitcoin, check the whitepaper, roadmap, the team (and its transparency and their previous works), the community and if there's a use case that can solve real problem for it to function with purpose and not just relying on hype. It's not going to be easy but if you're careful not to fall on good promises, then you'll spot a coin that is good to invest in.

[0t3p0t]

Shitcoins are those that has no significant value or use in the crypto industry. They were just the result of the teams greedy minds to make bunch of money through launching a nonsense project. Be smart on choosing alternative cryptocurrency investments because it could drive you crazy when it become a shitcoin. I highly recommend you choose the top 20 on coinmarketcap.

[@sriyan]

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.

This will happened to every altcoins. If you are investing on long time, it is better to invest in bitcoins. If you are short time investor, you can invest altcoins, but you have to take profits end of the market cycle. Otherwise it will be huge loss.

How to identify the shitcoins?

1. Unlimited supply
2. no usecase
3. No major development from the project side

[Dr.Osh]

when we find an altcoin that works based on utility, it will be difficult to identify it to be a shitcoin. We need time to see it coming. However, for other shit coins, we can see from the lack of clarity that the coin was created, incomplete data, anonymous team, very low coin price, coin listing on an exchange that is not well known, or maybe only DEX, small volume, and still much more. You can find these things when you do in-depth research.

[ahyadinnn]

most of the new coin are shitcoin, therefore to avoid shitcoin, then I suggest you not to invest in new coin and only invest in popular coin (safer), therefore I suggest you only invest in Bitcoin, because Bitcoin is the king of cryptocurrency, so Bitcoin will not become shitcoin and Bitcoin price will continue to increase, therefore by investing in Bitcoin, you will get a big profits in the future.

not all new coin shitcoins though, there are many good coins, if every new coins judged as shitcoin then there will be no innovation at all.
after all the new coin also need support so that they can grow, most of the shitcoins are just those deployed without any product backing it up, quite different with good coins.

but in recent years there are a lot of new coins and they are on average shitcoin, some provide large rewards and some provide guarantees that they will enter the big market, one of which I heard that a youtuber lost a lot of money due to playing on shitcoin.