it’s a new year, and given that 2022 was a bearish year in the crypto calender, most crypto traders are looking forward for a massive pump of coins this year. For newbies who will love to know how to trade, this post is for you.
Aside, Bitcoin and altcoin, we also have the shitcoins. which many consider as the money making coins in crypto. A good shitcoin pump can change your life forever.
As a newbie, lets help you to understand How best to trade Shitcoins in 2023. I bet by the end you will get to know how best you can trade any shitcoin.
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How best to trade Shitcoins
Shitcoins have taken over the cryptocurrency market and are quickly rising to the top of the most popular coin categories.
Traders start looking for the coin contract address as soon as a new shitcoin is generated and its token is announced on exchangers like pancakeswap or julswap so they can quickly investigate it, examine or analyze its candle stick before they buy these coins.
Please note that before buying shitcoins, there are two things to put in mind
- Shitcoins can vanish anything; unlike bitcoin or altcoins shitcoins are not stable hence the name shit-coin. they can vanish anytime
- The also have the ability to develop into stable coins; most stable coins started as shitcoins.
Since there are new shitcoins being introduced on a regular basis, it is difficult to anticipate which ones will develop into stable coins. While this is going on, stable currencies like BTT and WIN that were once considered shitcoins are now listed on reputable exchanges like Binance.
Take a shitcoin’s Contact Address to a website like BSCScan.com before purchasing it to examine its supply and liquidity. To inspect and research the candle sticks, use the poocoin.app.
As it is in cryptocurrency, never purchase a trash coin during a pump; instead, wait for it to drop before doing so.
Step by Step Guide on How best to trade Shitcoins in 2023.
For the context of this post i will be explaining how to trade shitcoins on two platforms. Pancake and Coinbase.
For Pancake Swap;
Let me presume that you are already familiar with DEX and decentralized wallets.
- Take the Contract Address to poocoin.app for a basic check as soon as you receive a Shitcoin.
- You can learn about charts, holders, developers, social network profiles, and whether it’s a fraud from the poocoin.app website (scam).
- The next step is to determine the BNB’s dollar equivalent. Let’s say I want to buy a shitcoin for $10. I check the converter on my Coin Market Cap app. Select Converter. To switch to BNB, click BTC >> Next, enter the $ volume that you wish to convert in the $ space.
The Pancake Swap Swap follows.
You must use the contract address to call the token up because it is a brand-new coin.
- Step 1: Choose BNB as the “FROM” coin and enter the $10 CMC Converter digit.
- Step 2: Select the drop-down menu, then look for the “TO” token that is the shitcoin. The item that can be purchased with 0.0175 BNB is instantly brought forth. It will fail if you swap in this manner. Next, what?
- Step 3: The last 0 in the token volume should be changed to 1 (or any other odd number), then swap.
Click the icon next to “Exchange” to alter the slippage charge from 0.5 to 1% if you continue to receive an error notice (as shown in 2nd, 3rd & 4th screenshots)
Switch and leave the page
Once it has been processed, you will receive a scan (SC), after which you can select “View on BscScan” to view the transaction’s status, such as the second SC.
Let’s discuss how to keep an eye on the value of your shitcoins before you sell, especially when there is a pump, so you can get rid of them before they crash.
Simply enter the token as FROM and USDT as TO. Click Max after that in your FROM token. Every second, the USDT value is updated for you.
To sell, you simply need to alter the steps you take for buying and keep altering the slippage until it completes.
I have spent up to 30% of slippage to complete several trades. First, try 5%, 7.8%, 8.8%, and 11%. If not, simply keep increasing by 1 to 11% until it does.
To use coinbase, you should know that Shitcoin is not currently supported across the ecosystem of the platform. However, There are still means you can buy and sell shitcoins.
Begin by Signing up with Coinbase to get latest information on shitcoins when the become available.
How to buy
- Enter “Shitcoin” into the CoinMarketCap search bar. Near the price chart, press the “Market” button. You can see a comprehensive list of stores where you can buy Shitcoin in this view, along with the currencies you can use to do so. You can see the abbreviation for Shitcoin, STC, along with another currency, under “Pairs.”
- Pick a platform to make your purchase
- Make the purchase on your chosen platform.
Here you have it, How best to trade Shitcoins in 2023.