What are shitcoins and their benefits to crypto traders
Hello everyone, I am very happy to share this post with the community again about shitcoins. We are living in a world of digital assets. These assets are neither controlled by the government nor by any central system. They are controlled by the emotions of their traders, and every action of a trader counts on the price direction of the crypto asset.
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Some crypto asset traders refer to these crypto assets as shitcoins, and they are classified as coins apart from Bitcoin. some certain groups of traders define these coins as a trader's missing the opportunity to make a huge sum of profits from a particular coin.
From the mindset of traders, such as lovers of the first cryptocurrency, Bitcoin, and every other coin such as Ethereum, Cardona, are all shitcoins.
Bitcoin was the first evolved cryptocurrency in the crypto world and it has been supportive, which makes it have the highest price among all other cryptocurrencies. However, many of these shitcoins outperform Bitcoin in terms of price movement, providing an opportunity for traders to profit in the crypto world.
ROI of these shitcoins is seen to be higher than Bitcoin, which may take a long time for a trader to get a satisfactory ROI.
There are associated benefits of shitcoins as opposed to undefined shitcoins such as bitcoin. prices are low for individuals to purchase or own this coin. As we all know, the price of Bitcoin is high, which is unfair to the poor since they can't afford to own it as their own asset.
There are many of these coins from which traders make profits. Many of them will choose to keep their profits.As we all know, these coins face the same challenge as all cryptocurrencies: the rise and fall in the price of crypto assets. blockchains are created to be controlled by the emotions of traders, one can't have the market's favour all the time.
Let's take Dogecoin, for instance. This coin was created as a mockery of Bitcoin. The price of this coin was low until Elon Musk tweeted about Dogecoin. The price of the token started sailing to the top. When Elon Musk tweeted about this coin, we saw that its ROI had increased to about 128%, giving traders a huge retain of their investments. The current statistics for this coin are shown below. This shows how traders that grabbed the token at the early part of the sale made profits from it.
Shitcoins are also important coins because traders can make profits from them. Many nevis traders start their trades with Bitcoin, which has caused them much mental depression in the crypto market. So it is always a good idea to begin trading in the crypto market with shitcoins because many of them are low in price and the trader will not lose if the market does not go in line with his prediction.