What Is Shitcoin And How To Identify It

What Is Shitcoin?

Shitcoin is a new coin that has not been known by many people with a market capitalization of fewer than 100 million dollars, has not been listed and has not really shown value, has no reputation and marketing.

These coins are often at the bottom of the rankings of coins on the market because of their extremely low value. However, when they are being listed on the exchange, their value rises so high that you may not expect it.

Advantages and disadvantages

  • After listing on the floor, the volatility is very strong, it tends to increase its value.
  • Low initial investment, easy to mine coins.
  • High profitability if you have a solid investment plan.
  • The liquidity of shitcoins is low.
  • The profit earned will also be as low or dependent on our ability to trade coins.

How to Identify Shitcoin

  • Coin release purpose: based on fundraising projects and community activities
  • Guarantee: is it guaranteed to succeed and help players generate money?
  • Development team: Anonymous and not transparent, information is also rarely found and unclear.
  • Whitepaper: great idea but unfinished product
  • Communication: no advertising information, cooperation and product introduction, no one comments, no affiliation with 3rd parties
  • Interaction: no interaction, few transactions, and at the bottom of the coin rankings.

Where to Find Shitcoins?

  • Bitcointalk: When shitcoins want to go to the market, they have to go through the Announcement section at this forum. This is a forum with a huge number of members and has existed for a long time. In the Announcement section, there are always shitcoin projects and people can find the shitcoin project announced here.
  • Coinmarketcap: here you can only find coins that have been listed on the exchange and these coins also have the potential to be mined. If you click on this link and look at the Circulating Supply column, you will see an announcement with a *, then you can’t dig it. If it has a *, click on the Announcement section to determine the potential of the shitcoin.

Notes If You Accidentally Trade Shitcoin On Exchanges

  • Always enable 2-layer security for accounts and do not trade on public devices.
  • Use only the idle money to trade coins and equip yourself with solid knowledge before market fluctuations.
  • Always have your own opinion. All information and advice of others are for reference only.
  • Limit buying coins when the price has increased sharply.
  • When you first start trading, you should invest less capital when participating in the market and gain experience
  • Hold coin or trade coin is not a good investment trend, it is important to make the right decision at the right time and choose the right coin.
  • Improve and equip knowledge about the cryptocurrency market in general and potential coins in particular.
  • When you sign up for an account, enable and install a layer of security.
  • Do not use the community network to trade.
  • It is recommended to create bank accounts with balance notifications and transaction OTPs to increase security.

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