Ive heard of pancake swap but dont fully understand how to buy it because we cant buy with our cash. Any advice?
What's The Best Way to Buy Shitcoins?
pixpotato on 21/04/2021 - 08:29
Comments
Which is why privacy coins like Monero and ARRR are doing so well. You can buy what you want without sticky-beak governments taxing you on everything. But of course it's only 'terrorists and criminals' who would ever want to hide anything from Big Bother right?
looks at the monero price and laughs
I read somewhere cash could still be traceable to some extent if someone really wanted to find where that $5 went or that $100 bill went….can't remember where I read it from though….
Possibly. But how many millions would you have to be playing with for the 'eye of Sauron' to be turned in your direction?
I guess it depends on how badly the other person wants to see his money back and whether or not he has that ability to do so.
I did with safemoon and so far so good seeing my numbers. I only bought what I can afford to lose so yeah. Gambling is always risky.
Could you deposit cash or do you have to deposit bnb?
Had a mate buy $1k of Safemoon and sold it for $10k
He’d be sitting at close to $100k atm if he didn’t
He’s filthy
Coinspot
Bianance
Kraken
etcTake your pick.
Haha no I mean like real shitcoins
They're exchanges, not coins.
Oh fair enough then you need a 'wallet' i think you can buy coins with ETH but you probably need to google a video on youtube
No, these exchanges dont have the real shitcoins was my point
What do you mean by 'shitcoins'?
Do you want to by crappy cryptos or there is there an actual coin called a 'shitcoin'?(edit: https://shitcoin.org/ well that answers that. )
Lol.
It's honestly ridiculous that people are genuinely discussing this as a real thing to invest their time and money into.
I feel like the very name is telling on whether it's a good idea or not.
Maybe, but then we are living in clownworld right now so who knows?
Not the actual shitcoins. The whole SC market
@pixpotato: Do you mean the whole crypto market in general?
If so I'm not sure I agree, so far this year our cryptos are WAY outpacing any of our other investments even though the percentage of our liquid assets started off way less than other stuff. From what I can see it should continue upwards for at least the next year or so and then I'll reassess. Not sure how the planned 'cyberpandemic' (see: WEF CyberPolygon 2021 in July) will effect cryptos but it may well disrupt a lot of other things and affect our access to them. Won't know until it happens I guess but that's my only concern ATM..
Just check CoinGecko to see which markets offer pairs to whichever shitcoin you’re attempting to buy. Usually the real shitcoins are going to be uniswap or pancakeswap.
In both cases you’re going to have to move coins from an exchange to your wallet (metamask/trustwallet/etc) to access the decentralised exchange and trade.
THIS is what I was after!
FOTM shitcoins right now - i.e safemoon - are on the binance smart chain.
Download the metamask wallet chrome extension -> google how to set up Binance smart chain on metamask -> buy BNB from binance -> send to metamask -> swap BNB for whatever shitcoin on pancakeswap. For the newer coins that arent listed on pancake swap, find it on bscscan and copy the contract address and add it to metamask. Should let you swap BNB for said token on pancake swap now
Amazing! Thank you
how do you find out the new shitcoins?
Certain sub reddits are dedicated to people shilling various shitcoins. At the end of the day it's mostly all a Ponzi scheme. In saying that I have thrown a few bucks in a few and I know the risks involved.
Is it easy to make your own shitcoin?
This guy knows.
The real shitcoins are not available on large exchanges with a good UI. Your only real option is pancakeswap, uniswap, flamingoswap etc.
It is not hard to use at all, but you need a wallet like metamask. Have a look at a tutorial, only takes about 5minutes to setup and buy.
You need to use a larger exchange or similar to buy eth/btc/neo/bnb or what have you, then transfer that your metamask. Then go to pancakeswap and buy whichever one you want. It will automatically "swap" the eth/bnb out of your wallet and give you the shitcoin.
Bianance - comes with spams subscription to your email address.
Yeah, a lot of fees on Metamask, Going to see if Trust wallet is better. Is there a particular coin you are trying to buy?
If you're trying to buy a coin/token on the Ethereum network that's probably why the fees are too high, not Metamask. The Binance smart chain has fees under a dollar, however obviously it will not have the same coin/token.
yep on bsc, other people have said trust doesn't charge as much and some transactions are free.
ETH2.0 is coming along, once its fully implemented the gas fees will reduce significantly. We are already seeing very good improvements.
I just checked, https://ethgasstation.info/, a fast transaction is 33 Gwei, that's amazing, it used to be over 200 Gwei just a month or so ago.
I don't think Pancake swap is a shitcoin. I have it. Pancake swap like is like uniswap but for the Binance Smart chain (BSC). BSC is just a clone of ETH, people are flocking to it because Ethereum2.0 keeps getting delayed and doing simple things on Ethereum costs alot of money. I'm holding Pancake (Cake) along with BNB for the ride. I will dump it in a few months.
When it comes to shitcoins, like safemoon, Doge, BCash, Bitcoin Diamond, Bitcoin XXX whatever, don't touch them at all. Just avoid them.
If you hold cake, wouldn't you prefer everyone to load up on Ponzi shit coins via pancake swap?
Yea true haha, but I don't want to be that bad.
People should know, especially the newbies that the vast majority of alts will lost 95+% of its value in the bear market. Keep that in mind. I made the mistake of holding onto alts during the bear market, don't make the same mistake as well. Good thing I hold good quality alts, so they have all rebounded in this bull cycle.
In your experience, how long do you think this bill run will go for? I haven't bought in yet waiting for retraction. Sort of happened.
@tunzafun001: Its very difficult to time the market, pick the tops and bottoms. I thought Bitcoin will max out at $10k in 2017.
So take what I'm about to say with a huge grain of salt.
I think Bitcoin will continue to rise until September/October, after that, the bear market would be imminent.
@techlead: Cheers. Just making sure I don't blow my cash. If I make a Binance account and buy BNB, do I need to convert it to BSC to be able to buy on pancake swap? Or does that happen automatically via Binance?
Also, there is a good tax thread on here, but is now locked, so can't comment. How on Earth do you document CGT events if you have tokens in an optimised autocompounding pool? I don't think it's possible unless you do the calculation before and after entering the pool and nothing in between.
@tunzafun001: When withdrawing from Binance for BNB to Pancakeswap, you can choose to withdraw using Binance smart chain.
Probably the easiest way for auto compound is to track your price when you put in and price when you take out - this would roughly give you the cost base vs selling price. Too hard to do it too accurately. ATO is fine with these as long as they are reasonable.
Dex is where you can get very small market cap coins.
Pancakeswap and Uniswap are the two largest Dexes but Pancakeswap's fee is miles cheaper.
Bakeryswap is also on Binance chain.Good info! Thanks!
Can anyone explain why
1) Bitcoin has a value above $1. From what I see is it's slow, limited and past its prime (an old Datsun amongst Ferrari's). People say "but you can use it in the real world"… So can a dollar! Also Binance have a credit card that auto converts crypto to AUD for use in the real world. So in my mind Bitcoin value = $1 or less.2) What value is in Ripple (xrp) as it isnt really a currency per se? And now also has been superceded and has many of its bridges recently burnt?
Supply and demand. People are buying it based on the value they place on the asset, and they expect the asset price to go up.
Same reason as to why people still buy gold even though you can't walk into Woolies and buy groceries with gold. Same reason as to why Uber shares above $1 when they're posting $1bn+ losses every quarter.Cheers, but I'm asking what are the reasons exactly. The gold example has value (jewellery, electronics) and I guess they expect Uber to turn a profit and get a dividend. But none of this applies to Bitcoin. I guess when you look at Bitcoins marketcap in relation to every other crypto it is continually going downhill (there is a nice graph on Reddit). So I guess Bitcoin is more of a collectors item / NFT (of which there are only 21 million - give or take burnt / lost coins) and also happens to function as a limited currency. Do we have anything else collectable that has 21 million in circulation for historical comparison? 1998 Aussie $1 coin minted 21 million (but that isn't international).
I find shitcoins very hard to make profit off. I have a couple that went 20x-50x and a lot that went down 50%. In and out quick is the better strategy. Had some that i bought through Uniswap with ETH, their prices has been on a slow climb but ETH skyrocketed. So i will end up with less ETH at the end. Plus all the CGT and taxes. Probably better off just hodling BTC, ETH and some large to medium caps.
Yer Im starting to feel this way too!
Best advice is don't. Unlike cash they are fully traceable. Unlike bank transfers any crypto transfer is fully public and recorded for all of history for any to see.
Governments are still deciding how to treat crypto and how to treat people that hold, have transferred, or generated crypto. That's risky business.