I’ve been trading for a little while now, mostly on this forum.
I’ve noticed that new coins tend to rise sharply in price, often by thousands of percent. I’m considering buying these coins when they’re available and then transferring them to platforms like Binance or Bybit to sell when their prices take off.
I know I’m not the first person to think of this idea.
I don’t have much experience moving crypto around, just trading on exchanges.
Has anyone tried this before?
I’ve noticed that when a coin gets listed, deposits are available before trading starts, which means you can transfer coins from other exchanges, right So if I buy a coin from somewhere else and transfer it to Bybit, I could sell it when the price jumps
Yes but usually by the time you hear about it it’s already too late. Many people try to get in early on these “gems” but most of them turn out to be scams that don’t go anywhere. It’s often not worth chasing the next big thing
I tried this recently with a small amount. I bought just after it went live on an exchange and missed the initial price. The big gain was gone right away. I used market orders so maybe try a limit order next time
If you didn’t get in before the listing, it’s best to move on. Learn about the type of listing and the coin itself. Some are already available on-chain and being bought up instantly. When a coin gets listed on Coinbase or Binance, it often marks the top for a while
@Finian
That’s what I mean, they announce the coin is being listed on the 15th, but deposits are open from the 10th. So you could buy the coin cheaply on the 10th, transfer it to the exchange, and sell it when it goes live
@Alston
Thank you for sharing your thoughts. I just wanted to hear about others’ experiences. I suspected it was tougher than it seemed because it feels too easy
Kirin said: @Alston
Thank you for sharing your thoughts. I just wanted to hear about others’ experiences. I suspected it was tougher than it seemed because it feels too easy
I’ve tried a few times with small amounts and it hasn’t worked out. I haven’t sold any though. I’ve still got them just in case haha
Kirin said: @Alston
Thank you for sharing your thoughts. I just wanted to hear about others’ experiences. I suspected it was tougher than it seemed because it feels too easy
There are already bots doing this
When Binance announces a new listing, these bots buy the coin within seconds
There was a huge post about this here a while back
Once it hits a major exchange, you might be the exit liquidity for those who got in early. After the initial volatility, it will likely drop before it rises again
You might be better off taking part in IEOs on exchanges. For a coin to get into an IEO, they usually have to ensure their liquidity and maintain a set price, which allows those involved in the IEO to make some profit
Honestly, you’re not the only one with this idea. What often happens is that people who already hold these coins take advantage of people thinking like you and dump their coins. Sometimes the price increases and you profit, but more often than not you end up holding a worthless coin
You could try airdrop hunting instead. You get new tokens by being an early user of the protocol. But you need to be comfortable with on-chain activity, which not many are
I’ve done this a few times on MexC with good results. They show new listings in the next 24 hours. If I see a promising meme coin, I buy it on MetaMask and then usually sell it right after the launch. One time I made 5 times my money, another time I doubled it. But once I messed up and didn’t understand liquidity well, so I ended up selling at a market price with only low buy orders available, which caused a loss. It’s better to wait a bit for prices to stabilize. Just don’t hold too long or you might lose