What are Shitcoins?
The term Shitcoin is often used to name a crypto that has no value or is very cheap.
If you are a newcomer to the world of crypto, you should not invest in Shitcoins, no matter what their profitable offer, if you do not want to lose money in the future.
However, if you intend to invest in Shitcoin, there are 5 red flags that you should avoid to minimize losses, including:
1. Groups/Communities
In general, Shitcoin groups/communities use the Telegram application. One of the red flags is if the Telegram Community is muted, so that outsiders cannot interact, it is not transparent.
2. Fake Community Members
The Shitcoin developers will create fake members, so it will appear that the Shitcoin project has attracted a lot of interest from the members. You can check the total ratio between the number of Group members and the number online.
3. Poor Site Display
Poor site appearance and excessive promotion, such as giving stake rewards that are too large, need to be watched out for.
4. Unreal Project
Need to watch out for or research especially on Developers, audit results, and development news. Or simply as a benefit of a pump and dump scheme or just Rug Pull.
5. Large Presale Amount
The number of presales that are too large will result in rising prices and uneven market allocation. Presales that are too large will only benefit the developer team.
The term Shitcoin is often used to name a crypto that has no value or is very cheap.
If you are a newcomer to the world of crypto, you should not invest in Shitcoins, no matter what their profitable offer, if you do not want to lose money in the future.
However, if you intend to invest in Shitcoin, there are 5 red flags that you should avoid to minimize losses, including:
1. Groups/Communities
In general, Shitcoin groups/communities use the Telegram application. One of the red flags is if the Telegram Community is muted, so that outsiders cannot interact, it is not transparent.
2. Fake Community Members
The Shitcoin developers will create fake members, so it will appear that the Shitcoin project has attracted a lot of interest from the members. You can check the total ratio between the number of Group members and the number online.
3. Poor Site Display
Poor site appearance and excessive promotion, such as giving stake rewards that are too large, need to be watched out for.
4. Unreal Project
Need to watch out for or research especially on Developers, audit results, and development news. Or simply as a benefit of a pump and dump scheme or just Rug Pull.
5. Large Presale Amount
The number of presales that are too large will result in rising prices and uneven market allocation. Presales that are too large will only benefit the developer team.
