Whilst we are in a bear market, what better way than to educate yourself to between finding potential gems and 'shitcoins'. This guide -- with Binance Smart Chain (BSC) -- aims to provide you with a comprehensive methodology to help you make informed choices; principles should apply to other chains.

Preliminary Guidelines:

• Initial Investment: For the initial 1-2 months, restrict your investment to a minimum and slowly build up pending confidence on coin choice.
• Starting Capital: Have a small 'starter bag' of capital. Remember, this is a high-risk venture; be mentally prepared for potential losses.

Procedure to Identify Potential Gems:

• Source Potential Coins:
  • Visit the BscScan website and navigate to the "View BEP-20 Transfers".
  • Refresh the page frequently and lookout for coins with grey icons, which indicate they're new.
• Evaluation Metrics:
  • Holders Analysis:
    • Major holders should be the liquidity pool like Curve Finance, and there should exist a dead coins wallet, usually depicted as ("0x000000000000000000000000000000000000dead").
    • Ensure there aren't many whales making up a large portion of the total supply. Numerous wallets holding large percentages of coins indicate potential manipulation.
    • A healthy new coin should have 200-300 holders minimum.
  • Liquidity Pool Check:
    • Prioritize coins with a liquidity pool of at least $30k.
    • Ensure the liquidity pool is locked for extended periods (3 months to a year or more).
    • To validate this, use websites like "PooCoin" and input the token's contract address (can be found on coinmarketcap, coingecko, etc)
  • Trading Volume:
    • Active trading is a good sign, meaning that there is a high amount of interest.
  • Digital Presence:
    • A genuine coin should have a robust online presence, including a website and Twitter.
    • Bonus points for additional platforms like Reddit, Telegram, Discord, Instagram, etc.
  • Design & Name:
    • Attractive logos and designs can influence coin adoption.
    • Names should be catchy and relevant. Avoid weird, gimmicky names (MOONS is an exception).
  • Transparent Team:
    • Coins where the team is publicly known, through videos, AMAs or other means, significantly reduce the risk of scams.
  • Post-evaluation Actions:
    • If a coin doesn't meet any of the criteria, it's best to move on.
    • For coins that pass the test, continue your research. Ensure the coin has a purpose beyond just "hodling" or moonshot promises.

Practical Tips:

• Patience: Early-stage coins can be volatile. Don't be disheartened by initial value drops.
• Stay Updated: Monitor team activities. Regular updates are a positive sign, while prolonged silence can be a warning.
• Document Learnings: Track your investments, noting successes and failures to refine your strategies.

Conclusion:

While these strategies can greatly reduce risk, remember that the world of cryptocurrency remains inherently risky. Always be prepared for potential losses and never invest money you can't afford to lose.

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Disclaimer: this guide's tips are generalized and should be treated as a stepping stone. There are not fool-proof method for selecting coins with a 100% moonshot.

That's all! I hope this guide was useful for some.

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Stay safe out there!