Topic: Do you trade shitcoins? - page 6. (Read 6599 times)

Yes I tried sometimes buying shitcoins like the price each 1 satoshi. Because if the shitcoin pump  10 X or more I will earn a lot of money and they have possible to increase even the coin are dead but you need to take a risk because they have possibke that your bitcoin loss because dead coin will removed to the exchanges site if the coin not pump until the removing date.  So try to make a research before buying shitcoins .

Shitcoins are basically coins with no active development behind them, but are instead, copies from other coins, and scripts, Litecoin for example.

They are made to be pumped and dumped, which means that ((whales)) - big players with alot of $$$$, will give the coin artificial value, then lure in new people, and dump the coins on them.

If you are at the right place at the right moment, there's alot of money to be made, on the other side, there is also alot of money to be lost, since the coin is extremely unstable.

That's why people are so negative about it, the price could dump very low every minute, if big players decide to jump out. Which is something you won't see with actual developed coins, (POSW) (ETH)

You can earn profit from the shitcoins but it's by chance because other whales or groups of big investors is pumping any shitcoins but is just a day trade you just need to ride the pumping of coins at the small time, Many newbies becomes victim of fake pumping of coins because they didn't research about the potential of that coin.
I've becomed a victim of shitcoins when i was in yobit when im newbie and i lose so much money because of that but i learned a lesson after that now i have a good income everyday because of trading.

Trading with shitcoins isn't worth it at all. It's prettt rare i actually trade with anyone of these shitcoins because normally i only see sell orders or if buy orders are there it is too less. The only thing i remember is once i had a got some coin called viscore who's value was 0.1 btc but no buyers were there.

No, never heard of it because I'm just a newbie. What I know is good that I saw was Xem is a good one to invest in, So I will keep on buying it then hold it in long term.

It is really difficult to trust those coins in Yobit as they have a ton of shit coins and you could see a rally in those coins mentioned once in a while and Yobit is not a trading platform according to me as they will accept any coin if you are paying the right fees and i do hold some coins in Yobit which has not moved over a year and that was a mistake from my part and i would not dare to enter those coins again.

No, i'm not trade coin like that, sometimes when I do trade in a potential coin can make me unpatience when wait for the price rise moreover with a coin like that, it will greatly make me panic when saw the price drops very drastically, trade in shitcoin is very high risk and Will make our mentality down when looking at price goes down.

Yes i trade them because they are also profitable if you know how to do timing in buying shit coins, there's a lot of shit coins out there and some of them are in yobit so i trade the coins there and i buy some of the cheap or died altcoin and i  wait it for the price to go up and then i sell it have a 10x profit and is why i trade shit coins because they are always pumping crazy.

Of course not. Shitcoins are not worth it to trade because exchanger and its developer are only takes it as advantage. Also, they are faking their volume quantity so that many traders could fall in their trap. Thus, only trade which are good and common in traders to avoid money loss.

Here it's same like that we participating into some gambling events, specifically same as that we play dice. However we make strategies finally depending upon the luck we'll win or lose. So with shitcoins some are lucky to gain good profit and the rest loses.

Honestly, it is very unusual for me to trade in yobit but I tried trading Lepen and TRUMP in cryptopia before. I had small investment in Lepen and earned a little from it, then stopped. TRUMP made me lose almost 3/4 of my investment because of fast and big dump from 50k to 6k satoshis each. I decided to sell it and just invest in other coin to get back my losses. Thankful that I got it back.

My experience explained it all.

I do trade shitcoins, it is where high profit came from but it is accompanied by higher risk.  I often look at yobit exchange since most of shitcoins are listed there.  I got profit from trading shitcoins like YES, CJ, Trump and other ICO coins that runs in yobit.  Unexpected pump also happen on that exchange so if we are lucky enough we can see our holding being pumped without any reason.

I've tried once and no luck  , I think I will not do it anymore because the risk is too high,
better trade altcoin like ETH, XMR, DASH etc.

I'm new to trading and it's not helping when I hear something called shitcoins lol. Can someone help me please.

It is more profitable to save them instead of trading. So no.

First time I hear that exist a TRUMP and PUTIN coin. No I never trade shitcoins, but I do trade altcoins especially those that can be mined with your CPU like Bytecoin and Monero. Core i5 4570 is making me about 50.000 Bytecoin in a month and I do trade them for bitcoin at Poloniex exchange. These are not shitcoins though but highly maintained altcoins and with a good daily volume in trading.

Those are just normal alts that everyone has heard of. Not the definition of a shitcoin. Shitcoins have a very small market cap and basically only the dev owns the coins. They'll never go anywhere because they are just clones from bitcoins or another coin and they have terrible names that will obviously never catch on.

Most of the coins on yobit are dying. I am just holding 5-6 altcoins on yobit and the market is too small to even trade and earn any profit. On top of that, most of their wallets also don't work and yobit has recently stopped being considered as a trustworthy trading site. Altcoins on bittrex and liqui have a bigger market size and active traders. Altcoins like DASH, ETH, TRST, RLC and XMR are doing extremely well.

Well, to be honest, Yes, I do. Reason: Shitcoins are made to pump and dump = profit, and a lot of it. Smart traders would find a lot of short-term highly profits out of them, seeking the right coin at the right time. I know this is way, way harder said than done – giving that there are 20:1 shitcoins to good coins rate on YoBit.

Shitcoins are totally worth it – they could pump up to 3000%, which is a ridiculous number (that you will only see on YoBit), but should expect losses as well. You don't have to invest in shitcoins, if you are afraid of the risk, instead, you can jump on board. If you can catch the pumping process at its beginning, you could make hell of a nice profit out of a shitcoin. But it requires timing, foresight, and greed-control.

Shitcoins that are based on politics are the easiest to be manipulated by news (which according to, coins would dump and pump). It surely looks like gambling when choosing one coin over the other, especially presidential coins like TRUMP, MCRN, LEPEN, but at the end it's worth investing.

Trading volume is dependent on how strong I feel about that coin. If it's good enough to make a profit, I would invest around 0.01-0.05BTC in it, if it's going to pump but not good enough, I would invest around 0.001-.005BTC only. Of course, this is also dependent on how many bitcoins you have as a capital.

Hahaha no I'd never touch them because I'd have to assume once they're worth a bigger fraction of a cent the devs would dump like crazy and start a new shitcoin. They are worthless even if something says they have a market cap. Never forget that.