What Is Shitcoin And How Can We Benefit From It: If At All It's Possible #001

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Indeed when it comes to talking about crypto related topics with like minded individual and community as our case is, it is always a thing of joy.

For one the issue of shitcoin is a very sensitive case in crypto as many knows it nature and avoid it while others despite knowing the risk gamble into in for the high risk reward it could potentially offer.

Shitcoin has a lot of risk but could actually offer a high risk reward for those who are very fortunate, that begs the question; what are or what is shitcoin?

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ShitCoin

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When we talk about shitcoin, the term "shitcoin" is a very familiar term often used in the crypto space to refer to crypto asset that are looked upon as being of low-quality or cryptocurrencies viewed by crypto enthusiast as unreliable, or lacking any real value.

When we refer to shitcoin they are often coins that has no much utility if at all any, of course for a crypto asset to be considered to be of value it must have a use case but in the case of shit coins they have little or no utility and as regards to technogy they are on the weak side in that regard often also with a development team that can't be held accountable in case of losses whose activities are rather suspicious.

Now considering this fact no doubt makes any investment venture into shitcoin to be a very risky venture as there is a whole lot of risk which could often include:

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Reasons To Not Venture Into Shitcoin Investment

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They are of course many reasons not to invest in shitcoin and some of them are;

Shitcoin are of little or no value, they often lack utility. Now investment in an asset with no strong use case is rather high risk gambling and we will be wise to avoid such.

Another reason why we should avoid shitcoin investment is because it is highly speculative and volatile often subject to pump and dump, it could make one a billionaire in one night and reduce billions to zero in mere seconds hence is a very risky venture for investors as there is no certainty

Some times too this project are just scams and the developer is looking to loot people's funds especially the unsuspecting mind who jump into anything they see only for the project to be rugpulled and the investors losing everything.

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Conclusion

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In this space i believe it's viral for us all to always do our due diligence before investing into any project and try to avoid speculative project which may make us outright rich but has a very huge potential of making us lose everything.