How to stay away from shitcoins ?

Whatever forum or Q&A site I visit, there are people recommending new coins. Some also show how they converted their $100 into $10000 or more 3 days or less. How to spot real good coins from these and stay away from the waste ones ?

Check out their GitHub profile

onlinemarketer12 said:

Whatever forum or Q&A site I visit, there are people recommending new coins. Some also show how they converted their $100 into $10000 or more 3 days or less. How to spot real good coins from these and stay away from the waste ones ?

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You can't. It's a gamble.

You are better buying these coins:
- BTC
- ETH
- ADA
- ALGO
- CRO
- SOL
- XLM
- ATOM

Learn how to evaluate proper crypto fundamentals. Memes and chitcoins can make money in the heart of the bull market, but it's difficult to spot which ones will pop off.

If you understand how to evaluate the fundamentals of projects, you can buy them before they get hyped and pull a 20x.

Look for things like:

Team: Is the team reputable? Is there an active team of devs working on it? Do the devs come from previous successful blockchain projects?

Tokenomics: What's the circulating supply and max total supply? Does the team hold most of the coins? Do they have their tokens locked up or can they rug pull at a moment's notice? What's the staked %?

Token Utility: Do the project's protocols require the token be used/burned to function properly? More simply put, is the token necessary and is it deflationary?

Use Case: How does it all work and what is it used for? E.g. is it a meme coin or is it used to provide DeFi lending.

Technological Edge: How does the technology differ from other similar projects? How does it stand out above the hundreds of other projects?

Does it solve one of the biggest problems in crypto/DeFi?

onlinemarketer12 said:

Whatever forum or Q&A site I visit, there are people recommending new coins. Some also show how they converted their $100 into $10000 or more 3 days or less. How to spot real good coins from these and stay away from the waste ones ?

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Why would you want to stay away from shitcoins? People make fortunes on pumps and dumps, on IDOs and on hundreds other methods, just find your niche on the crypto market. Right now market is stable and could stay like that for the next year or more. You won`t make much on btc or eth right now but on shitcoins there are new oportunities everyday.

Welcome to DeFi, you don't stay away from shitcoins you need to embrace the technology and learn how to not get rugged.

Most of the time:
HUGE supply = shit coin.
Charity = shit coin.
Devs not doxxed = shit coin.
Contract renounced = shit coin.
Huge burn with no explanation = shit coin.
No explanation of why people will want to buy those tokens for 100x what you buy them for = shit coin.
No explanation of how the development team can continue working on the project for years = shit coin.

konrado123a said:

Why would you want to stay away from shitcoins? People make fortunes on pumps and dumps, on IDOs and on hundreds other methods, just find your niche on the crypto market. Right now market is stable and could stay like that for the next year or more. You won`t make much on btc or eth right now but on shitcoins there are new oportunities everyday.

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Most of the people loose money with these.

onlinemarketer12 said:

Whatever forum or Q&A site I visit, there are people recommending new coins. Some also show how they converted their $100 into $10000 or more 3 days or less. How to spot real good coins from these and stay away from the waste ones ?

Click to expand...

Did you success find some coin I want to try 100$ One last time please give me recommendation

duckduckgoo said:

Did you success find some coin I want to try 100$ One last time please give me recommendation

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Better search on own.