How To Avoid New Altcoins That Will Lose Money

How To Avoid New Altcoins That Will Lose Money

Information That Will Help You Avoid Losses In Altcoin Market

Guy does a masterful job (as usual) in giving us advice on what to look for when picking a new and in-development altcoin cryptocurrency

#crypto #bitcoin #trading

Altcoins to AVOID!! WATCH OUT For These 💩

169,122 views
Jul 1, 2020

1.11M subscribers

🔥 TOP Crypto TIPS In My Newsletter 👉 https://guy.coinbureau.com/signup/ 🗻 Get The Top Deals In Crypto 👉 https://guy.coinbureau.com/deals/ 📲 Coin Bureau Insider Channel 👉 https://t.me/cbinsider 🐦 Follow Our Twitter 👉 https://twitter.com/coinbureau 📺 Picking Altcoins Vid 👉 https://www.youtube.com/watch?v=GIfih… ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ – TIMESTAMPS – 0:00 Intro 1:36 Shitcoin Criteria 2:34 Exchange Listings 4:30 Volume & Liquidity 6:20 Development Activity 7:56 Project Team 9:28 Token Even Needed? 10:50 Fake Partnerships? 12:13 Track Records 14:00 Previous use of Funds 16:40 Shills & Sockpuppets 17:44 Conclusion ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ⛓️ 🔗 Helpful Links & Sources 🔗 ⛓️ ► Sirin Labs Raise: https://venturebeat.com/2017/12/27/si… ► Factom Bankruptcy: https://www.coindesk.com/blockchain-c… ► Substratrum Burn: https://decrypt.co/9074/substratum-bu… ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 1️⃣ Exchange Support 1️⃣ Most *reputable* exchanges don’t want to be associated with coins that they deem to be shit. By that I mean, they don’t want to have a lot of angry traders coming to them because they lost nearly all their money on some vaporware project. It also creates certain problems for you buying the cryptocurrency. How can you feel really comfortable using some exchange that you have never really heard of. 2️⃣ Volume & Liquidity 2️⃣ The volume and liquidity of a token is important to study. Not only can it give you a broader indication of interest but it will also help you determine whether you will be able to easily buy or sell the cryptocurrency yourself. The trading volume of a cryptocurency should be divided by volume. Any coin that has a 24-hour trading volume that is less than 5% is considered quite low. 3️⃣ Development 3️⃣ If they do make their code public in their repos then you will want to observe how much as been done over the past few months. You just want to see that there has been a regular stream of commits and discussions. You will also want to take a look at the whether the project has been active in other spheres. 4️⃣ Project Team 4️⃣ Are the team who they claim they are? Can you confirm their credentials on their social platforms like Linkedin? Have they been involved in any questionable projects in the past? How long have they been involved in the blockchain space? 5️⃣ Do They Need a Token? 5️⃣ There are numerous examples of projects that have developed a cryptocurrency for something that really did not need one at all. Let us not forget that the future value of a utility token will come from it’s actual use. If you really need people to transact in your network, why can’t they just use ETH? Why do they need to use your token? 6️⃣ Partnerships 6️⃣ And are these partnerships meaningful? Or are they merely a partnership for partnership sake? A simple collaboration or memorandum of understanding? Something that is concrete or nothing more than a simple meeting? I have seen far too many projects that over hype a partnership that is either completely false or extremely misleading. 7️⃣ Track Record 7️⃣ Those projects that often change their focus and “reinvent” themselves every single year are most definitely ones to watch out for. If their previous core use case is no longer a strong one, what is to say their new one is any better? Consistency is also applicable when it comes to development. Do they often miss milestones and have some of these proposed milestones just vanished from the ether? 8️⃣ How They Spend Cash 8️⃣ Most legitimate projects with a foundation will have detailed reports as to where the funds are being allocated and spent on. If no such disclosures exist then it’s an immediate red flag. For those projects that do disclose this, you need to ask yourself whether it falls in line with their Whitepaper budget allocation or whether it is at all justified. 9️⃣ Paid Shills / Sockpuppets 9️⃣ Those crypto projects that have to rely on paid shills to pump their coin or token should be viewed with immense suspicion. Why should they feel the need to create an artificial perception of demand? Does that mean that there is no real organic interest in the project? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 📜 Disclaimer 📜 The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome. #crypto #bitcoin #trading #shitcoin #exchange #ethereum

618 Comments

David Hay
If the team is sketchy and has experience in marketing and hype. Being able to stake isn’t a legitimate use case😂 umm hex
 
Justin Cider
Safemoon hits ALL of these points lmao!
 
PatchCornAdams723
Buy high, sell low. That’s my strategy.
 
[MADD]Scientist
Im liking these built-in timestamps in the video player
 
M Ke
This video is so relevant to me at the moment. TA very much
 
miss a.a.
I’m sending this video to the Safemoon crowd.
 
Murderdogs
“Most reputable exchanges don’t want to be associated with a coin that they deem to be shit.” Your total nonchalance and softly spoken manner really make this line solid gold 🤣
 
Mat Periuk
I liked just by how you said shitcoin with such enthusiasm

4

nadeem ali
The decentralized aspect of this project is one that makes it different from others,which makes users have rights to there information #YOUengine #YOUC #blockchain #crypto #cryptocurrency

2

TheWorpler
2017 ICO boom was our “sideburns and flared trousers” moment

19

 
i just wanna say that,when i was searching videos for “gem” coins,i found a real gem “guy”. Love your work,Big fan.
 
Rodrigo Solís Hernández
great content! There are so many “crypto gurus” out there saying that they found the “cryptogem to 10000x” that is exhausting, probably just because they bought it and need more people to buy it just to make the price rise. I think that this video shows an efficient way to avoid shitcoins.
 
Italrish
Let’s talk shitcoins 😁 Quality content consistently and this subject has never been more relevant. These things are showing up out of the blue, pumping, dumping, and looking for a second life

2

Scrooge McDuck
This is basically about any coin with “Safe” in the name.
 
Matt Rusin
Could you do a video on Ampleforth? I’ve never seen any project like it before and the team is mostly high level engineers from companies Google, etc. Plus they have a very impressive list of investors.
 
ahthisisgood
You sir are a scholar and a gentleman. Thank you.

10

Ken Bracken
You are quickly becoming my favorite crypto YouTuber! This “Guy” is straight up and spot on.👍
 
Camilla
Thank you for your work, I’m french and it’s usually a bit hard to understand British accent, but I understand you perfectly 😊 Merci 🙏
 
Stipe
It would be a good joke if someone makes Shitcoin and it ends up as a very good coin, shit that can be used for spmething.
 

How To Avoid New Altcoins That Will Lose Money

How To Avoid New Altcoins That Will Lose Money

Check Out Our Crypto Privacy Site: CryptoGrizz.com

Check Out Our Crypto Trading Site: CryptoGrizzTrader