How to identify shitcoins?

[bangjoe]

If you look for shitcoins in altcoins all bitcoiners will say that all altcoins are shitcoins.
But maybe some people differ in this view, for many reasons that he considers correct and becomes a guideline in investing. 

Most altcoins become shitcoins when their projects are outdated with technological advances, we all know that effectiveness, efficiency as well as security are the most basic values in crypto that make them attractive, but most of them are getting worse is losing their market or interest from investors or users of their ecosystem so that they no longer get funds to continue operating their projects, and there are some developers who have stuck with the project they created or can say they are stuck, so there are no more updates or anything about the project. You can look at the community and or monitor directly on the altcoin project road map to see what steps the developer will take, if it seems strange and there is no logical development then you should be careful.

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[Tigerheart3026]

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.

firstly i can not believe a new project it's doesn't mean that all of the new coins are scammed,
but most of scam because those are copy project, i see many scam coins are created by popular meme coins name, so stay away from those project,
development,roadmap,partners,team management,exchange listing all of factors are important to identify shitcoins.

[GlacierBIT]

Shitcoins that have no value are just junk in your wallet. Forget about them, you will never be able to sell them. Instead, focus your attention on existing projects, these coins tend to have greater liquidity and a higher chance of retaining their value over time.

[deepblue01]

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.
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I agree with you because most of altcoin project will be dead soon. we can ride the trend when it's hype but don't hold for too long because the risk is so high.
Although some altcoin did really do their job and try everything but but it still doesn't work

[Publictalk792]

I am sorry to hear that you have a bad experience with investing in altcoins It is really  disappointing when your investments do not work like you hope.The cryptocurrency market is known for having some scams.... So it is important to do your research before investing in any altcoin.

Sometimes we saw that a project may look really promising at first with a good team and lot of people supporting it (like Luna and FTT).But remember one thing it is important to think first and never fall in scam quickly do a proper research.

And It is also a good idea to spread your investments and never put all your money into one cryptocurrency. If you get any loss from one side so... definitely you will get some benifits from other side. And it is better if you will concern to any experienced people they will give you a better idea(and I really hope they will give you Idea to invest in Bitcoin).

But keep in mind that investing in cryptocurrencies is risky so it is important to be careful. Any project can scam or collapse and you have some examples like Luna and FTT.

And in my recommendation only one coin in which you can believe that is Bitcoin and just Bitcoin.

[Blitzboy]

I am sorry to hear that you have a bad experience with investing in altcoins It is really  disappointing when your investments do not work like you hope.The cryptocurrency market is known for having some scams.... So it is important to do your research before investing in any altcoin.

Sometimes we saw that a project may look really promising at first with a good team and lot of people supporting it (like Luna and FTT).But remember one thing it is important to think first and never fall in scam quickly do a proper research.

And It is also a good idea to spread your investments and never put all your money into one cryptocurrency. If you get any loss from one side so... definitely you will get some benifits from other side. And it is better if you will concern to any experienced people they will give you a better idea(and I really hope they will give you Idea to invest in Bitcoin).

But keep in mind that investing in cryptocurrencies is risky so it is important to be careful. Any project can scam or collapse and you have some examples like Luna and FTT.

And in my recommendation only one coin in which you can believe that is Bitcoin and just Bitcoin.

Research is important, but this market is unpredictable, so even the best due diligence cant forecast every conclusion. Luna? FTT? They collapsed despite appearing bulletproof. What does this mean? The best projects can fail.

As you noted, diversification is crucial. In a volatile market like bitcoin, diversifying risks means not placing all your eggs in one basket. Yes, obtaining advice from experienced investors is wise, but even experts cant predict every single move. Bitcoin is relatively steady, as you say. The pioneer, the proven. Beware complacency. Bitcoin experiences ups and downs. Be wise when investing.

[Zigabel]

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.

Before buying some of these coins it's usually advised you DYOR first and if these coins are not listed on major exchange platforms then it's an indication you may be at your own risk , if they don't have a good community anda solid projects backing them, I think you should know what to do but then always know that on the long run the results will play out.

[vs2014]

If you have a hard time understanding which coin is shitcoins then you should first understand how successful the project is in the crypto market and also you should do the best bitcoin, ethereum. A shitcoin has a lot of supply but their project activity is not good at all. If you look at the social media channels of the team community, you will understand that they are inactive. It will be a long time but there will be no update on the development of their project. They will enter into some exchanges which free fees so any crypto user can understand these shitcoins.

[MegameSama]

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's actually very easy to know whether it's a shitcoin or not.
1. Go to cmc, there is full info on the coin you want, if it hasn't been listed, it's most likely a shitcoin.
2. Check the website, Telegram, Twitter and other social media. Usually from there you can see their progress, how they treat the community. If it's shitcoin, the Telegram group only contains pump and dump.
3. Check their website. good projects explain what their projects are like, shitcoins don't, just website capital, they list and rug. Shitcoin sometimes has a WP, but it's limited, and tends to be haphazard.
4. Use your heart. the feeling of a crypto lover knowing whether this is a shitcoin or not.
5. only buy bitcoins. you will be free from shitcoins forever.[/li][/list]

[Shenanigan]

Shitcoins can be recognized by the news that someone has suddenly become rich by buying their coin.

[JayTrain]

My wallet also became like a museum, there were about 70 tokens in it from different projects, and my main mistake was that I did not sell some on time, many projects in my wallet were worth, in principle, some kind of value, but as usual I waited even more, in  in the end they are all almost equal to 0.

[Rasa nanas]

Shitcoins that have no value are just junk in your wallet. Forget about them, you will never be able to sell them. Instead, focus your attention on existing projects, these coins tend to have greater liquidity and a higher chance of retaining their value over time.

and altcoins that have utility but no price or liquidity are also trash because you can't sell them. Don't just focus on large liquidity but you also have to focus on the community of the project because it is useless if only have large liquidity but a small community. if it only has large liquidity but a small community, I think the project will not last long because the available liquidity will decrease.

[HunterBTC]

Not all coins will be in the form of currency, it has been proven by all bounty seekers that this is the same as trying without results.  However, all of this can be handled by increasing the number of forums and communities with good ideas.  It's not easy, it will definitely come together after swallowing the bitterness of being a coin hunter.

[Dr.Osh]

I am sorry to hear that you have a bad experience with investing in altcoins It is really  disappointing when your investments do not work like you hope.The cryptocurrency market is known for having some scams.... So it is important to do your research before investing in any altcoin.

Sometimes we saw that a project may look really promising at first with a good team and lot of people supporting it (like Luna and FTT).But remember one thing it is important to think first and never fall in scam quickly do a proper research.

And It is also a good idea to spread your investments and never put all your money into one cryptocurrency. If you get any loss from one side so... definitely you will get some benifits from other side. And it is better if you will concern to any experienced people they will give you a better idea(and I really hope they will give you Idea to invest in Bitcoin).

But keep in mind that investing in cryptocurrencies is risky so it is important to be careful. Any project can scam or collapse and you have some examples like Luna and FTT.

And in my recommendation only one coin in which you can believe that is Bitcoin and just Bitcoin.

Yes, in reality it is like that. I have owned many altcoins that I thought would have high prices in the future, but the CEO was suspected of fraud and scam. It's not just one altcoin that is like that if we look into the past, but many altcoins are like that. The OP is not the only victim, but there are a lot of people who used to think that the few altcoins they held could make them rich, and now think that bitcoin is the only profitable crypto. However, I don't blame people who have views like that, because I have felt that way too. However, I still believe that some popular altcoins could have high prices in the future.

[fzkto]

I am sorry to hear that you have a bad experience with investing in altcoins It is really  disappointing when your investments do not work like you hope.The cryptocurrency market is known for having some scams.... So it is important to do your research before investing in any altcoin.

Sometimes we saw that a project may look really promising at first with a good team and lot of people supporting it (like Luna and FTT).But remember one thing it is important to think first and never fall in scam quickly do a proper research.

And It is also a good idea to spread your investments and never put all your money into one cryptocurrency. If you get any loss from one side so... definitely you will get some benifits from other side. And it is better if you will concern to any experienced people they will give you a better idea(and I really hope they will give you Idea to invest in Bitcoin).

But keep in mind that investing in cryptocurrencies is risky so it is important to be careful. Any project can scam or collapse and you have some examples like Luna and FTT.

And in my recommendation only one coin in which you can believe that is Bitcoin and just Bitcoin.

Yes, in reality it is like that. I have owned many altcoins that I thought would have high prices in the future, but the CEO was suspected of fraud and scam. It's not just one altcoin that is like that if we look into the past, but many altcoins are like that. The OP is not the only victim, but there are a lot of people who used to think that the few altcoins they held could make them rich, and now think that bitcoin is the only profitable crypto. However, I don't blame people who have views like that, because I have felt that way too. However, I still believe that some popular altcoins could have high prices in the future.

Probably some people are contraindicated in investing, because for them it is only a bad experience. But still, if you look at most of the old projects, you will see that they have shown growth no worse than bitcoin. It's just that altcoins don't have a long lifespan, because new and new projects are constantly appearing to replace the old ones. But nothing can replace bitcoin.

[batang_bitcoin]

Probably some people are contraindicated in investing, because for them it is only a bad experience. But still, if you look at most of the old projects, you will see that they have shown growth no worse than bitcoin. It's just that altcoins don't have a long lifespan, because new and new projects are constantly appearing to replace the old ones.

Specific to the shitcoins, it's true that most of them won't stay in the market once the developers were done making money out of it. Then, those that have thought to believe that they're great projects are gonna be left with all of those shit tokens.

But nothing can replace bitcoin.

This is no brainer and no contest. No matter what type of projects come out and tells that they will beat bitcoin whether they are good, shitcoins or meme coins, nothing beats Bitcoin.

[Mate2237]

]
Specific to the shitcoins, it's true that most of them won't stay in the market once the developers were done making money out of it. Then, those that have thought to believe that they're great projects are gonna be left with all of those shit tokens.

Hey! Colleague thanks for this answer. A question was also ask why some of the  altcoins give up along the journey and since I am not too good altcoins I just gave the reasons that are best suites to it and they were correct. And when I saw this your comment I was impressed as well. So that means most of the developers of altcoins behave like ponzi schemers. Once they have gotten the amount they wanted then the project would collapsed or would ente enter the site maintenance group and that would be that last time to see the website.

quote author=batang_bitcoin link=topic=5464597.msg63269378#msg63269378 date=1701715138]]
This is no brainer and no contest. No matter what type of projects come out and tells that they will beat bitcoin whether they are good, shitcoins or meme coins, nothing beats Bitcoin.
[/quote]
If any project came and says that they are going to beat Bitcoin they are automatically tag as scammers.

[gabbie2010]

]
Specific to the shitcoins, it's true that most of them won't stay in the market once the developers were done making money out of it. Then, those that have thought to believe that they're great projects are gonna be left with all of those shit tokens.

Hey! Colleague thanks for this answer. A question was also ask why some of the  altcoins give up along the journey and since I am not too good altcoins I just gave the reasons that are best suites to it and they were correct. And when I saw this your comment I was impressed as well. So that means most of the developers of altcoins behave like ponzi schemers. Once they have gotten the amount they wanted then the project would collapsed or would ente enter the site maintenance group and that would be that last time to see the website.

quote author=batang_bitcoin link=topic=5464597.msg63269378#msg63269378 date=1701715138]]
This is no brainer and no contest. No matter what type of projects come out and tells that they will beat bitcoin whether they are good, shitcoins or meme coins, nothing beats Bitcoin.

If any project came and says that they are going to beat Bitcoin they are automatically tag as scammers.
[/quote]
Unfortunately many developers of those shitcoins got away with their fraudulent and scamming act because of non regulation of crypto, many of those projects are well packaged such that it would be very difficult to suspect any scam whereas their developers are just trying to obtain funds from unsuspecting investors thereafter abandoned it and vanish into thin air without any traces, I would always emphasize investing hard earn money on trusted, genuine and credible altcoins though expected returns or profits from the real altcoins might not much however the opportunity of recouping the original fund including small profit outweigh that of investing in a shitcoins.

[yazher]

Unfortunately many developers of those shitcoins got away with their fraudulent and scamming act because of non regulation of crypto, many of those projects are well packaged such that it would be very difficult to suspect any scam whereas their developers are just trying to obtain funds from unsuspecting investors thereafter abandoned it and vanish into thin air without any traces, I would always emphasize investing hard earn money on trusted, genuine and credible altcoins though expected returns or profits from the real altcoins might not much however the opportunity of recouping the original fund including small profit outweigh that of investing in a shitcoins.

This mostly happens when they first hype their investors and spectators with their sweet words and sugarcoated ideas which will never happen because it's just all for show and everything is set to fool their target newbie investors. When they first released their coins, it will be a blockbuster hit and you can see the graph always move up to show the investors they have done the right thing and when they finally reached the necessary amount of money to cover all their expenses and mostly they get more than that, they will dump the coin and disappear leaving their investors some false promises and hope.

[terizla]

I always check new Altcoins is from their project first. How ling did the project start. The goal of that project. The Team behind who help that project. Another famous project who follow that project.