What Is Shitcoin And How Can We Benefit From It: If At All It's Possible #006

source

Today I will be continuing my discussing about shitcoin and if it's possible to profit from it.

Ofcourse many people have a lot of bad to say about shitcoin but some have some positive feedback to give as they must been rewarded by it at one time because of it's volatile nature.

Truth is though that this is not sustainable in every respect as it exposes it's Investors to a whole lot of risk.

So today I will continue from what drives investors to Invest in this highly speculative project despite knowing the risk;

---

---

What Attracts Investors To Shitcoin Investment

---

---

1) Pump-and-Dump Schemes: One thing also which moves people into shitcoin it's their perspective, some are are not ignorant at all and are fully aware of the risk this project pose.

This set of people knows that because this asset has no usecase it's easily manipulated as in it's possible for the price to be artificially inflated so because of this Pump-and-Dump idea they hope to buy and sell at the very top before it crashes.

So this particular mindset makes some to willing take the risk.

2) Promises of Quick Gains: Unlike other high value prospect in the market some feel shitcoin has potential to generate quick gains like the ponzi it is.

So this Investing in it are in it for the quick gains so they could move their money in a safe project after it pumps.

People jump into Investing in shitcoin out of quick gains generated more than a normal coin damning risks in the process.

3) Lack of Information: Another reason too for investment in shitcoin is lack of information on this project by the investors, sometimes people fails to do due diligence of what they are Investing in.

Some persons just see a new coin pop up and they just put money inside, they don't bother trying to understand the project and as a result they are led along easily by Investing, entering based off of merely a limited information.

The fact a coin is trading on an exchange doesn't mean it's not a scam.

---

---

Conclusion

---

---

The risks associated with shitcoin investment to me is not worth the risk as most times 80% or even more so of those who invest in it suffer greatly, most incur insurmountable losses from this Investment, loss which could have easily been avoided.

It's viral and imperative not to allow anyone make us invest in anything no matter how influencential we feel they are and always try to carry research on a project before investing no matter where the recommendation is coming from if we want to save our money and undue heartache.

I don't believe any benefit is worth the potential risk, I mean every trader ought to check the risk to reward of anything they want to invest in and they will see the reward may not be worth the risk after all and that such investment is not sustainable.