Not every new coin is a shitcoin: How to spot the real GEMS inside the sea of shitcoins.

A few days ago, I made a post titled "Rugpulls and Honeypots. What they are and how you can avoid them." Since then I got a lot of messages from people asking me how they can tell the difference between a new coin with lots of potential and a shitcoin. For maximum protection, make sure you follow this guide in combination with the other guide. I will not repeat those rules here. If you don't follow the rules of the other guide as well, you will lose your money.

Before I start, some background: I trade small coins for a living. In the beginning, while learning, I fell for all the scams just like everyone else. But with every loss I learned something new and I'm now pretty good at it. Yes, I have losses like everyone else, but usually I get out with very small losses compared to my gains.

Anyone here hating shitcoins, I agree with you. I hate shitcoins too. Part of what I want to explain here however is that not every new coin is a shitcoin. Every coin has to start with 0 holders. Everyone has to start somewhere. And every solid project deserves a chance to grow. Yes, the vast majority of new coins are shitcoins, but I want to help you tell the difference between the real gems and all the shitcoins.

The Golden Rules

If you start looking for the real gems and want to trade smaller coins, follow these rules or you will lose money.

  1. Start trading on the BSC (Binance) Smart Chain. Why? Transactions cost around $0.20 max. You can't do this on the ETH chain where you spend lots on gas fees, sorry. I know they came down, but they're still too high.
  2. For the first 1-2 months, don't invest more than $5 per coin. I am not joking. Yes, your gains will not be thousands of dollars, but if you go in with more you will end up losing a lot of money, trust me.
  3. Have a small bag of maybe $150 or $200. Be prepared to lose your small bag completely. If you can't afford this and sleep well at night, don't do it.

Ready? Let's start:

Find the Coins

Go to the BscScan website (look up the links yourself, I don't want to link-spam this post). Then, go to "View BEP-20 Transfers". If the list looks confusing, don't worry. Look at the rightmost column that says "Tokens". You must look for the grey icon besides the coin names. Why? Because that means the coin is new. Established coins already have their icons listed and that means you're usually too late to make high gains. You can refresh that page for new coins every second, you will always find new one

... keep reading on reddit ➑

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