Topic: How to identify shitcoins? - page 5. (Read 1905 times)
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.
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
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
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.
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
In my opinion, the way to know if an altcoin is a shit coin is as follows
1. team is not active in the group to provide information about the project
2. the project does not comply with the roadmap
3. team made too many promises but never realized them
4. supply is too much, but coin have no function
5. team never wants to be criticized by investors
1. team is not active in the group to provide information about the project
2. the project does not comply with the roadmap
3. team made too many promises but never realized them
4. supply is too much, but coin have no function
5. team never wants to be criticized by investors
The highest price is depended on the buying and selling activity therefore you should not buy an altcoins for which there is no other buyer. Bitcoin is a famous crypto coin and you have seen that how fast its buyers are increasing because of its surety. 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.
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.
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.
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 is not new anymore as altcoin market have been the playground for scammers when all these too good to be true projects have start to emerged. Gone are the days where altcoins are highly profitable and highly valuable because at the moment, majority end up as dead and shitcoins.Stick to bitcoin instead. Aside that you won't waste your money and time identifying which are shitcoins and which are not, you will also minimize the chances of getting scam. Although I won't say in general that altcoins are not worthy of our money and time, but definitely must avoid if you want to gain significant profits in the end.
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.
Indeed, that is one of the big risks of altcoins. especially if they are new altcoins, don't ever expect to make long-term investments in them. This happens often with new altcoins, most of them are just hype. And in the end, their prices will drop and never rise again. So if it's a new coin, it's better to take advantage of the hype and just take profit. Don't believe anything they say for long term holding. Or stay away from new altcoins, focus on Bitcoin and top altcoins. 
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.
Yes, That's why altcoins are riskier than bitcoin. While bitcoin can last forever with resilience, altcoins cannot. Just because some altcoins are heavily advertised doesn't mean the coin is of good quality, imho and Fomo will make you lose trust. Some altcoins have very short cycles - shitcoins. Anyway, the top altcoins still deserve to be trusted and some new altcoins can be of good quality 
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 is why it's important to invest in knowledge as a cryptocurrency investors because this knowledge will help you identify the fact that some of these coins have got timing and if you are ignorant of their timing, you will most definitely not be able to get the best out of them. Some of those coins were created to promote certain projects and once they are done, if they don't have a strong community behind the coin to further push the coin to become valued and probably listed on major exchanges, they definitely turn out shit coins at the end of the day because they are not valued. So before you hop on any of such project, be sure to know what purpose for which the coin was created, and the community behind it how strong they are. 
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 turning into dead shitcoin now.
It's very easy to spot a shitcoin, just take a look at their website and what team are behind them, also take extra step in researching individually about those team member if possible go through their social media and other contacts that may be available on the internet, by so doing you will discover a lot of things about the project and who are behind it. When a project promised what look unrealistic then it means that the investor should be sure that holding them is amounting to holding another worthless coins that will end up being spamming your wallet.
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! 😎
Unfortunately some of those shitcoins always look real even with thorough research, developers do promote and advertise their project such that it will look real because basically crypto market is not regulated thus every Tom Dick and Harry enters the market and launch their token infact some developers contract influencers to helpthem hype their shitcoin while unsuspecting investors in their bid to make quick profit fall for this cheap scam, even with this reg flags many new investors would still defy all the warnings and invest in shitcoins I had also supported investment in credible and trusted altcoins whose profit is guaranteed.
It's a pity that not everyone knows how to identify shitcoins, most people were easily carried away by the sweet coated mouth and words being said by most of these crypto projects developers, influencers and advertiser, we also need to know some of the criterias needed to look in for before making any decisions on using any of these altcoins, because not all cryptocurrencies are worth deserving our investment, some were nothing than shitcoins.
~~~
Nearly all of the newer tokens in dexs like Dex screener and others should be regarded as shitcoins which they rightly are.
You have mentioned a valid point. In always saw newer token which listing on dex or some bad reputed centralized exchanges, are always scam after a limited time. They are just showing people their token is listed and doing same promises to listing on binance, ama with binance or kucoin, to attrack investors only and later them dump their altcoin by sell off and disappear by taking all liquidity. So such point Should be noticed.Nearly all of the newer tokens in dexs like Dex screener and others should be regarded as shitcoins which they rightly are.
However, I agree that one needs to evaluate a project before entrusting it with their money, proper research and analysis must be done before investing if the project in question is new in the market. Someone who has a little bit of knowledge can easily do thorough research and evaluation of a project through their website.
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.
You are not alone, I have a ton of tokens, of which a huge majority of the project is dead. However, understand the difference between shitcoins and scams. Shitcoins aren't always scams. It mostly happens to be shitcoin when the management fails at managing/implementing the project, or something takes away the utility of the token. Scam on the other hand could be you investing but never getting your capital or your supposed gain amount
We can make a lot of profits from shit coins if we know when to buy and to take our profits. But the problem is when we plan to hd it for too long, that is when we can start making loses.
Are those shit coins still exist in this crypto world?
I think many people agree that shit coins are mostly low-market-cap coins because it's easy to pump and dump at the same time.
I am not being Naive, I like profit and most people like it. Just like gambling and hoping they can get a jackpot.
I think many people agree that shit coins are mostly low-market-cap coins because it's easy to pump and dump at the same time.
I am not being Naive, I like profit and most people like it. Just like gambling and hoping they can get a jackpot.
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.
You are not alone, I have a ton of tokens, of which a huge majority of the project is dead. However, understand the difference between shitcoins and scams. Shitcoins aren't always scams. It mostly happens to be shitcoin when the management fails at managing/implementing the project, or something takes away the utility of the token. Scam on the other hand could be you investing but never getting your capital or your supposed gain amount
Quite simply, when a token's volume drops to zero, you should understand that it's really shitcoins, and if you research, you'll see that their project has absolutely no development activity. In fact shitcoins suddenly create hype in the early days to sell their tokens and later they scam and hide from the market. Initially the hype of shitcoins is high so new investors fall prey to this scam.
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.
You've pretty much summarised how we can identity shit coins, without speculating much, all we have to do is visit Coinmarketcap or Coingecko, it's really that simply. I think that I can rely on the ranking of altcoins by these two entities to know which altcoins are reliable to invest in. So the further down the line, the more shit the coins become, this is why I always advertise Ethereum, for free, because I believe that after bitcoin, ETH is next in line.
I don't gamble my hard earned money on coins that have not tested their durability in the crypto market, no matter how enticing there hype is. This forum has been a big eye opener for me not to gamble with my capital. The risks involved in bitcoin volatile nature is enough for me to handle, so why go down the line to look fo far greater risks.
I hope OP abides to this good advice above, in order not to keep being a victim of scam projects, because I've learned from his mistake.
Jump to: