What Is Shitcoin And How Can We Benefit From It: If At All It's Possible #003

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Today on the topic of what shitcoin is and how if possible can we benefit from it or desist from the speculative project as has been part of our ongoing discussion.

They are alot of cryptocurrencies at least thousands of them in the space and many of this coins are considered shitcoin as they lack any real value so below I will like to outline some examples of shitcoin.

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Examples Of Coins Considered Shitcoin

Some examples of shitcoin we have in the crypto space are:

Dogelon mars: Currently ranked #286 on coinmarketcap with a circulating supply of 549,652,770,159,583 Elon and and fully diluted market cap of $131,303,665 and currently trading or value at $0.0000001318 for one.

Safemoon inu: Has a circulating supply of about 1,000,000,000,000 safemoon inu and market cap of $34,987,175 currently ranked at #1332 at coinmarketcap with a price of $0.00003499.

Bitshiba: Bitshiba is ranked at #5391 on coinmarketcap and is valued at $0.000000003194 for one with a circulating supply of about 499,999,888,544,328 bitshiba which is actually self-reported as coinmarketcap shows and a market capitalization of $3.19M

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Advantages Of Investing In Shitcoin

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1). Because of it's insane volatile nature there is a chance of quick gains if we are fortunate enough to invest and take profit at the right time

2). This shitcoins are often very cheap which means anyone could invest in them with a very little capital

3). It has opportunity or potential to give quick or generate very rapid income for people within a short time because of it's volatile nature.

4). It's always inexperienced people that are caught up in this investment, hence we could say it has a way of bringing people into the crypto space

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Disadvantages Of Investing In Shitcoin

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1). Shitcoins does not have any usecase and investment in this project is risky as it is based or driven based on hype and mere speculation

2). Our asset is never secured as most if not all of them has no real security and people could easily lose there asset to fraudulent activity

3). It's often shady as they are not transparent enough the way a blockchain should be

4). It's volatile nature also works against it as it not only have potential to make quick gains but also to make investors lose money in very little time.

5). No regulation or restrictions

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Conclusion

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Before investing into any project we should carry out careful research and try to invest into assets with strong utility baseline and whatever we choose to invest in, always we should only invest what we are willing or can afford to lose.