Shitcoin; In general, it is a name given to coins or tokens that do not have a definite target in the cryptocurrency world / community, whose price has inflated artificially, do not serve investors in any way, so to speak.
Although cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) take the lead in the crypto money industry, it is also known by everyone that thousands of investors have invested in cryptocurrencies called “shitcoins”. The diminishing value of a shitcoin is often due to unsuccessful investor interest as it was not created in good faith or its price was based on speculation. Therefore, these cryptocurrencies are considered bad investments.
How Do I Recognize a Shitcoin Entity?
While the market tends to be turbulent in nature and all coins go through loops, one can explore the true nature of a token by looking at the promises that are illusory, the lack of usability or functionality, and the purpose the token is trying to serve. So we can distinguish shitcoins from functionality, usability, and realism.
Where to Buy Shitcoin?
Shitcoins, the vast majority of which are only small volume altcoins, can be purchased on several major cryptocurrency exchanges. Of course, as mentioned earlier, shitcoins are always subjective and therefore it is impossible to give specific guidelines as to which platform you can use to acquire them. You can find shitcoin on world- renowned exchanges or DEX exchanges.
Small volume altcoins can potentially be the “highest risk, high return” investments you can make. The chances of losing all your money are great, but very rarely will you find yourself in the following situation:
- With the shitcoin you hold in your hand, you can become rich with a pump wave and, on the contrary, fall victim to a dump wave.
Both of these situations can be very profitable if you’ve set clear goals for the moment you want to sell. In some cases, the minimum investment can give you the biggest return. Just make sure you set your goals clearly and are not emotionally attached to the coin. To give an example here, it was the impressive value increase in XVG that many people see as shitcoin. In a short time (1-2 months), the value of the cryptocurrency increased by almost 8000%, making a small number of believers very wealthy. Of course, its price quickly bounced back to its starting point, as it was overrated.
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