1. What is Shitcoin?
Shitcoin has just been born, so very few people know it. They have not recognized their value, have not been on the, or have not been marketed, so they are not famous. Shitcoin is a coin with a capitalization of less than $100 million, and it is trading volume deficient, small, and unstable.
Currently, it can be divided into three main groups of coins, namely:
- Top 1 group: In this group is a long-standing collection of coins, and it is highly secure and stable as bitcoin. Especially this type of coin can also be dug. Some popular coins in this group 1 include ETH, LTC, Zec, and ETC.
- Near top group: In this group, the coins have the following capitalization number of the above cryptocurrencies, which are also relatively popular and known to many people. For example, some currencies such as HBG, NEM, LSK, FCT,…
- Group of shitcoins: We are referring to this group in this article. This is a coin with a capitalization of fewer than 100 million dollars, deficient trading volume
- There is a substantial margin of price volatility
- Delivering high returns with low capital investment
- Have good profitability if you know how to analyze at the right time to buy or sell
Besides the advantages, shitcoin also has disadvantages such as:
- Relatively low liquidity
- Profits are high risk, not based on too much technical analysis, so a good trader is unlikely to succeed.
2. What is Shitcoin made for?
Many people wonder that bitcoin is predominating big in the stock market, so what else do they make shitcoin for? What is the purpose of being born with it?
Shitcoin is made to do things that bitcoin can’t do, and it substitutes for bitcoin in different ways. However, some coins are directly competing with bitcoin and officially claiming that shitcoin is its better, more perfect version. But they couldn’t topple bitcoins because they weren’t highly secure and scarce. For others to exist is also to promote more decentralized finance, this is the concept of promoting financial services without any central authority.
3. Learn about the potential of Shitcoin
Shitcoin is getting a lot of interest from new traders. As the bitcoin market is volatile, erratic change has kept many people from worrying, getting bored, and giving up. That’s why they went to shitcoin, so let’s discover what potential shitcoin has!
Gives the trader huge profits:
For low-capitalized coins such as shitcoin, doubling, or even ten decades or 50 times is still possible in a shorter time than for high-capitalized coins.
Relatively low risk:
If the investor can buy potential coins at the right time, the risk of price increase is relatively low. The risk we’re talking about here is not the risk of losing out on participation but the risk of losing out on the gains made.
The capital to invest is not high:
Many types of coins are famous in the market, and investors only need to spend about $50 – $100 to invest up or down 10% – 20%. You will have very little profit and a lot of time. Conversely, if you invest the same amount of capital in shitcoin, it’s very elementary to get back $1000 or a few thousand USD if you know how to seize the opportunities in shitcoin.
4. Risks of Investing
In the above section, we have also mentioned the problem of bitcoins with little risk, but it is entirely none. When investing in shitcoin, investors must also prepare themselves for the acceptance mentality and always be ready to face the risks.
There will be two significant risks that you run:
- The price of coins decreases
- It’s profitable but not secure, so it’s possible to lose your account.
- So how do investors need to avoid these two risks? It would be best if you did the following:
- Continuously equip and update yourself with the knowledge to become more sensitive to the cryptocurrency market
- It is necessary to have your ornament and judgment, especially not to trade according to the mischief of others arbitrarily.
- Increase security to 2 layers for personal accounts, do not conduct transactions in the public network.
- You should only use a part of your idle capital to trade coins, not to borrow for investment.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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